Contributor, Benzinga
January 8, 2021
Overall Rating:
securely through BitcoinIRA's website

Bitcoin IRA provides a solution for those looking to take their retirement account outside the traditional market. It partners with BitGo Trust to facilitate the setup of an individual retirement account (IRA) and a digital wallet to hold and trade cryptocurrency. Bitcoin IRA offers a proprietary always-on, self-directed trading platform that empowers you to invest in your future. In addition to digital currency, you can also use Bitcoin IRA to purchase gold, another popular alternative asset for savvy investors.

Best For
  • Large Bitcoin holders
  • New Bitcoin investors who have a handle on their overall financial strategy
  • People who have room in their budget for a $100 monthly contribution for an easy set-and-forget savings and investment strategy
  • Investors who can tolerate high levels of risk associated with trading crypto and who are able to hold precious metals investments for at least 10 years
  • Great rollover options
  • Investments stored offline for greater security
  • Easily create an account and digital wallet in under 3 minutes
  • 24/7 trading platform
  • Due to U.S law, cannot transfer existing cryptocurrency holdings into a Bitcoin retirement account
  • No financial advisory or planning services

BitcoinIRA Ratings at a Glance

Overview of Bitcoin IRA

Bitcoin IRA provides a platform to link investors interested in alternative asset IRAs with legitimate custodians and exchanges operating in these sectors. It also connects clients with digital wallets and coin exchanges that mark the crypto trade. And lastly, Bitcoin IRA acts as the same kind of facilitator for those looking to invest in other nontraditional assets like gold and other precious metals. Until recently, it was extremely difficult to buy Bitcoin with an IRA but great platforms like Bitcoin IRA make it easy.

Products & Services Offered

If you’re looking for a retirement account funded by cryptocurrency or precious metals, Bitcoin IRA is good at delivering just that. You can buy and sell cryptocurrency like Bitcoin at any time, day and night, on its self-directed trading platform. It’s like having the market at your fingertips 7 days a week, 24 hours a day. And like other IRAs, your investments are tax-optimized, fattening up your retirement funds as much as possible until you reach an appropriate withdrawal age.

Best For
  • Full Service Solution
securely through BitcoinIRA's website

Bitcoin IRA recently introduced a new type of account, the Saver IRA. This is an IRA that you link to your regular savings or checking account for monthly automatic transfers. These transfers act as contributions to your IRA and are used to invest in cryptocurrencies. This is a great option for those who want to get into bitcoin trading or retirement planning but don’t have a big chunk of capital to throw at either of these ventures.

This account can be funded with as little as $100 as an initial contribution. From there, you can set your contributions to as low as $100 monthly. These funds are auto-invested into the virtual assets of your choice. This makes one of the best strategies in crypto trading, dollar cost averaging, extremely easy and tax optimized at the same time!

Bitcoin IRA gives its clients the flexibility to choose from a long list of crypto coins. You can diversify your investments among multiple coins or stick with a singular type of cryptocurrency:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Stellar Lumens (XLM)
  • Zcash (ZEC)
  • Bitcoin Cash (BCH)
  • Ethereum Classic (ETC)
  • Digital Gold (DG)

All Bitcoin IRA accounts are protected by stringent security measures. It is clearly dedicated to providing airtight security to its clients, using cutting edge technology and multi-factor safeguards to protect your assets. All of your virtual assets are kept under lock and key with BitGo, which handles ⅕ of all crypto transactions worldwide. In addition, your funds are backed by up to $700 million in custody insurance. And, you’re further protected with SSL secure trading technology, a trusted measure to defend data from prying eyes during the course of online transactions. 

BitGo stores your assets offline as well, adding a final layer of security. Bitcoin IRA only does business with custodians and exchanges headquartered in America. This means your investing activity is subject to the strict security standards set by the U.S. and is compliant with U.S. law.

Account Minimums

With $3,000 — the minimum investment to start — you can hold a Bitcoin IRA account. There are no investment caps. For the Saver IRA, it only takes $100 to begin and then a $100 monthly contribution to fund your account. This could be a fantastic plan for investors who want to get into crypto but don't want to jump in head-first.

Fee Structure and Pricing

You won’t find a 1-size-fits-all fee structure with Bitcoin IRA. Instead, the size of your initial investment will determine how much you’ll pay in fees. You’ll pay a singular upfront fee that covers your retirement account set up. This fee includes the process of rolling over any existing retirement accounts you may have.

Custodial and security fees are also included with your Bitcoin IRA account. You’ll get your personalized fee structure when you talk to a rep to set up your account.

How to Open a Bitcoin IRA Account

Opening a Bitcoin IRA account is light work. You can schedule your 15-minute consultation or call them directly at 877-934-7175. Or, open an account in less than 3 minutes on its website. You just supply the basic information that you’d need to set up any financial account and $100 to start your IRA Saver account or $3,000 to fund your Bitcoin IRA.

Once you’re in, your bespoke dashboard and digital wallet are available. From here, funnel funds into your account, view current live pricing for coin exchanges and access Bitcoin IRA’s vault of financial and cryptocurrency educational resources. Then, transfer funds from any existing retirement accounts. You’ll be ready to start trading and saving for your future in just 3 to 5 business days.

Ease of Use

Overall, Bitcoin IRA is an easy-to-use platform. Bitcoin IRA’s self-directed trading portal is accompanied by a sleek control panel that allows you to easily track live pricing and your portfolio. Buying, selling and trading is as easy as unlocking your smartphone and hopping on its trading platform. Many crypto IRA platforms make this process much more difficult.

Rolling over your existing retirement accounts is also made simple with Bitcoin IRA. They’ll take care of it for you during the setup process, saving you the hassle. Funds from any of the following accounts are eligible for rollover services:

To use Bitcoin IRA, it’s best to at least have a base knowledge of both cryptocurrency and your investment strategy. Because cryptocurrency is speculative in nature, there is a high level of risk that comes with investing in these types of assets. Other qualities of crypto, like the fact that transactions are normally irreversible, have their benefits and drawbacks. For this reason, it may be best to seek the expertise of a financial advisor when starting your bitcoin investment journey. 

Bitcoin IRA isn’t a financial advisory firm, so you won’t have any guidance on your crypto trading strategy. You can consult with your own financial advisor, accountant or another expert and integrate your Bitcoin IRA into your overall financial plan. 

Bitcoin IRA Overall Rating

If you’re looking to open a cryptocurrency-based retirement investment account, you really can’t do better than Bitcoin IRA. It’s the industry leader for alternative asset IRAs, and for good reason. It will take care of all the hard work, setting you up to start buying and selling bitcoin on its self-directed trading platform. 

Whether you’re an experienced crypto investor or just getting started, Bitcoin IRA is an incredibly useful way to secure your financial security by investing in assets that are not tied to the market fluctuations of other types of investments, like fiat currency, traditional stocks or real estate.
Creating a Bitcoin IRA account takes less than 3 minutes. Or, if you’d like to get some more information and a quote, you can schedule a free 15-minute consultation.

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