Bitcoin IRA Review 2024

Bitcoin IRA Review 2024

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Bitcoin IRA

Bitcoin IRA Bitcoin IRA

Insider’s Rating

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

4.5/5


Fees

2.99% one-time deposit fee ; 2.00% transaction fee; and a 0.08% security fee billed monthly

Pros

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Bitcoin, ethereum, litecoin, and several other cryptocurrencies available
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. You can invest in one coin or a blend of multiple coins
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Supports IRA rollovers, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k)s
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. $700 million insurance available
Cons

  • con icon Two crossed lines that form an ‘X’. You’ll need to speak with a company representative to learn set-up fees for your account balance
  • con icon Two crossed lines that form an ‘X’. High trading fees


Product Details

  • Features: 24/7 trading, offline storage, and $700 million insurance
  • Better Business Bureau rating: A+
  • Awards: Earned the Mobile Web & App of the Year award for the 2022 Globee American Best in Business Awards

About Bitcoin IRA

Bitcoin IRA is an investment platform for retirement individuals to trade 60+ cryptocurrencies and physical gold assets. BitcoinIRA is also partnered with BitGo for its proprietary cold-storage wallet and multi-key security features.

The account lets you roll over existing funds from several different retirement account types into a tax-free IRA with up to $700 million in custody insurance. For a $3,000 minimum, you’ll get access to 24/7 real-time trading, a customizable trading dashboard, educational content, and portfolio tracking features. 

Bitcoin IRA is our top pick for the overall best Bitcoin IRAs for its large crypto selection, multiple IRAs, crypto wallet storage, and offline storage. 

Is Bitcoin IRA Right for You?

BitcoinIRA is best for retirement-focused individuals confident that crypto-investments like bitcoin and ether will have long-term growth potential. Cryptocurrencies are significantly more volatile than most retirement investment options (stocks, bonds, ETFs) but may be worth it for investors with high-risk tolerances. 

While it lets you exchange gold and more than 60 cryptocurrencies, it isn’t the best idea for traders searching for alternative assets like agricultural products or REITs. Plus, it charges multiple fees, and — while it lists a $3,000 account minimum — you’ll need to call a representative to get basic information since deposit fees are based on your investment amount. 

Bitcoin IRA: Overall Rating

Is Bitcoin IRA Trustworthy?

The Better Business Bureau gives Bitcoin IRA an A+ rating. Bureau ratings range from A+ to F, so this is the highest rating a company can receive.

When evaluating businesses, the BBB considers several factors. These include type of business, time in business, customer complaint history, licensing, government actions, advertising issues, bankruptcy, and more.

Bitcoin IRA’s slate is clean of any lawsuits or scandals.

Ways to Invest With Bitcoin IRA

Bitcoin IRA

Bitcoin IRA is best for retail investors who want to build wealth for retirement with cryptocurrencies. You can invest in alternative assets like physical gold. You’ll need at least $3,000 to get started, and the platform lets you roll over existing assets from:

The crypto platform offers over 60 cryptocurrencies, including bitcoin, litecoin, cardano, dogecoin, and more. While the platform isn’t a crypto wallet or exchange, it connects you to exchanges to allow for trading.

Regarding the rollover process, transferring assets from an existing retirement account seems fairly simple. After you set up an account with Bitcoin IRA, it’ll request a transfer of those assets from your 401(k) custodian. You’ll then be able to purchase your desired cryptocurrencies once the funds reach your account.

Keep in mind that you can also invest in real gold as Bitcoin IRA lets you purchase ownership rights to US-certified gold bars. Plus, you can exchange gold 24/7, and the platform says it insures the gold through Brink’s bullion vault facility. 

Bitcoin IRA offers the following account options:

  • Bitcoin traditional IRA
  • Bitcoin Roth IRA
  • Bitcoin SEP IRA
  • Bitcoin Simple IRA

Bitcoin IRA Fees

Fees are on the higher side. In addition to the $3,000 minimum requirement, you’ll have to pay a setup fee, which varies based on the amount you plan to invest.

Cryptocurrencies have a 2% transaction fee, meaning you’ll pay 2% each time you buy or sell.

Bitcoin IRA charges a one-time service fee upfront, which is 2.99%. Plus, the platform charges a 2% transaction and 0.08% security fee.

Bitcoin IRA — Frequently Asked Questions (FAQs)

Yes. Bitcoin IRA was founded in 2016, and it utilizes several security measures — including cold storage wallets, multi-signature encryption, and custody insurance — to keep your assets safe. The exchange also has no record of website hacks.

Bitcoin IRA is an online invest app for retirement-focused individuals to buy cryptocurrencies and physical gold assets in their retirement savings. You can open an account for a $3,000 minimum to get access to over 60 coins and tokens, 24/7 trading, and a customized dashboard. 

How Bitcoin IRA Compares

Bitcoin IRA vs. BitIRA

Bitcoin IRA and BitIRA offer similar IRA services for alternative assets like cryptocurrencies, but you’ll get more out of Bitcoin IRA. Not only does it offer a lower minimum requirement, but it also offers gold and a wider selection of crypto assets. Plus, it offers up to $700 million in insurance coverage. BitIRA offers $700 million in insurance coverage.

Bitcoin IRA vs. iTrust Capital

While Bitcoin IRA and iTrustCapital offer cryptocurrencies and other assets, the two platforms have different features.

Bitcoin IRA has a stronger cryptocurrency selection. It offers more than 60 cryptocurrencies, while iTrustCapital only provides 29. But iTrustCapital makes up for this by allowing you to earn rewards of up to 9.5% for staking polkadot.

Why You Should Trust Us: How We Reviewed Motley Fool Stock Advisor

We examined Bitcoin IRA using Personal Finance Insider’s rating methodology for investing platforms to compare account types, pricing, investment options, and overall customer experience when reviewing investing platforms. Platforms are given a rating between 0 and 5. 

Cryptocurrency platforms offer multiple assets, trading tools, fees, and other resources. Some investing platforms are better for more advanced investors or active investors, while others may better suit beginner investors and passive investors. Bitcoin IRA was evaluated with a focus on how it performed in each category.