Among the competitive landscape of industry companies offering cryptocurrency iras, they are a top-rated crypto IRA platform that provides retirement planning users with tax advantages, like traditional Individual Retirement Accounts (IRAs). They are known to be the largest crypto retirement platform and are the pioneer within this space.
They have been featured in major media outlets such as CNBC, Forbes, and The Wall Street Journal.
Retirement account investors can roll over their traditional 401k and IRA into a crypto IRA. With the help of them, you can buy and sell digital currencies and gold within a tax-advantaged IRA with strong security protection and custody insurance to safeguard your investments.
This platform supports many other crypto assets apart from cryptocurrency coins and has great features like currency payments, lending and coin swapping.
How Bitcoin IRA works
Bitcoin IRA platform offers self-directed IRAs that allows you to invest in non-traditional asset classes, namely gold bullion and cryptocurrency. The minimum investment in the beginning is $ 3,000 – you can also lower this value by setting up a Saver IRA. Furthermore, you can fund the account with only $ 100 each month, starting in the first month.
What you need to do is create an IRA account. You can do so through the platform website or with the help of their mobile app – in a matter of just three minutes or less. Once you do so, you can build a personalized dashboard and a digital wallet.
After that, you will be granted access to the live pricing and the extensive knowledge base of the Bitcoin IRA – with tutorial videos, articles, and infographics. You will also be able to buy and sell anytime and in real-time. Lastly, the tax consequences of these trades will be minor since the IRA account is tax-sheltered.
Pros:
⦁ First cryptocurrency IRA retirement platform
⦁ Has a 4.5-star rating on Trustpilot
⦁ User-friendly mobile application & intuitive investing platform
⦁ World-class security through partnership with BitGo
⦁ Up to $700M custody insurance with conditions
⦁ Has over $1 billion in assets under management.
Cons:
⦁ High fees
⦁ Underwhelming APYs
⦁ Risky for undisciplined retirement investors
⦁ Customer support can be unreachable at times
Top Benefits of investing with them
There are several advantages that you achieve if you go for Bitcoin IRA. We have listed some down for you to gain deeper insights into the platform and its usage.
Tax-deferred crypto investing
The Bitcoin IRA is a tax-advantaged cryptocurrency retirement account which allows you to make long-term investments and short-term trades in a tax friendly manner. These long-term investments can be made in alt assets of your choice without paying taxes on your capital gains/dividends. You can hold Bitcoin and Ethereum in your IRA for the long term and trade other coins for short-term gains.
Trading crypto is available 24/7. This means you potentially can make tremendous gains while avoiding capital gains taxes.
Just like other traditional IRA's, you only need to pay the taxes when you withdraw funds.
Flexibility and portfolio diversification
Bitcoin IRA allows you to invest in more than mere cryptocurrencies, ensuring you receive the diversification you deserve. Gold is one of the alternative assets that you can invest in, which only strengthens your portfolio with inflation protection and wealth protection.
Additionally, the account will let you be more flexible in making a sale to the transfer value beginning from one asset to the next as per your choice.
Decentralization
You will also have minimal central point control on the operations in the traditional financial market and minimal/no third-party interference. The best part is that this technology will allow a fair market for investors and the players, with no manipulations whatsoever.
Low-cost gold investing
As mentioned previously, you can also buy gold with digital currencies through their crypto iras. Where the process and the fees are concerned, it will be pretty much the same as crypto investing. The only difference is that you buy ownership rights to actual gold bars.
Moreover, Bitcoin IRA lowers the storage costs and brokerage that used to go hand in hand with purchasing gold. With a similar structure for crypto investment fees, this makes it possible for you to pay much lower fees.
Top Reasons to not invest with them
While Bitcoin IRA comes with many benefits, users are bound to experience some hiccups. It is best to know the cons before investing in a platform, only to regret it later.
Expensive
One of the top cons of investing in there IRA is that they charge a hefty platform fee on the first investment itself. This fee is also charged in the upcoming trades and other ongoing custodial fees.
Therefore, it is an excellent practice to check whether the monetary expense is worth the effort or not.
Crypto price volatility
Price fluctuations that occur suddenly and reduce the value of assets are a big reason many people don't invest.
How Bitcoin IRA works
Bitcoin IRA is a variety of self-directed IRAs that allows you to invest in non-traditional asset classes, namely gold bullion and cryptocurrency. The minimum investment in the beginning is $ 3,000 – you can also lower this value by setting up a Saver IRA. Furthermore, you can fund the account with only $ 100 each month, starting in the first month.
What you need to do is create a Bitcoin IRA account. You can do so through the platform website or with the help of their mobile app – in a matter of just three minutes or less. Once you do so, you can build a personalized dashboard and a digital wallet.
After that, you will be granted access to the live pricing and the extensive knowledge base of the Bitcoin IRA – with tutorial videos, articles, and infographics. You will also be able to buy and sell anytime and in real-time. Lastly, the tax consequences of these trades will be minor since the IRA account is tax-sheltered.
Conclusion
You will only find some options in the market that allow you to invest in digital assets via an IRA account – Bitcoin IRA being one. Moreover, they mainly specialize in this asset class, so you can trust them.
Bitcoin IRA is the first and only full-service solution that gives investors the ability to purchase cryptocurrencies for their retirement accounts.
In 2016, the first investment into a “Bitcoin IRA” occurred when Ed Moy, Former Director of the U.S. Mint made history by choosing BitcoinIRA.com, which changed the IRA retirement investing landscape.
There is no need to concern yourself with Gold IRA vs Crypto IRA comparisons. If you plan to invest retirement savings in crypto & gold for the long-term in a secure and tax efficient manner, they are a great pick for a single IRA choice! They offer a diversified set of alternative assets for retirement planners seeking a balanced portfolio and the assurance their wealth will be protected.
FAQs
What are the fees?
You will be requested to pay a one-time service fee at the beginning of your subscription with Bitcoin IRA, depending on the amount that you are investing. For month-wise contributions below $3,000, the fee will be 15%; for investments that are between $3,000 – $50,000, the fee is 12.5%; for those between $50,000 – $100,000, the fee is 9%; and above $100,000, the fee will be 7.5%.
How many cryptocurrency options are available to trade?
They offer over 60+ digital currencies on their trading platform.
Some of the cryptos available at Bitcoin IRA are:
⦁ Bitcoin (BTC)
⦁ Ethereum (ETH)
⦁ Bitcoin Cash (BCH)
⦁ Ripple (XRP)
⦁ Litecoin (LTC)
⦁ Stellar Lumens (XLM)
⦁ Zcash (ZEC)
⦁ Ethereum Classic (ETC)
⦁ Digital Gold (DG)
How to fund your account?
You can fund your account via a connected bank account. The amount of money you select will be invested by itself automatically in the crypto assets.
Can you purchase gold on the Bitcoin IRA platform?
Yes, investment-grade, physical gold can be bought and sold through the platform, and stored in professional vault facilities. Competitors, such as Coin IRA, don't offer gold to invest in their IRA.
What are the risks of a crypto IRA?
The risks with an alternative asset IRA are numerous and varied. They include, but are not limited to, the following:
1) The value of Bitcoin is highly volatile and subject to sudden and dramatic changes. This makes it a risky investment, particularly for retirement planners who don't like volatility.
2) There is no guarantee that some of the cryptocurrency assets invested in will continue to exist or be used in the future.
Who can invest in a Bitcoin IRA?
This alternative asset IRA can be established by anyone who meets the IRS requirements for opening a traditional IRA. In order to open a Bitcoin IRA, you must be under the age of 70½. Have earned income from a job or self-employment. And haven't already reached the annual contribution limit for IRAs. Once you have established your Bitcoin IRA, you can begin funding it with Bitcoin.
Is Bitcoin IRA available to investors in the United States?
Yes
Is a crypto IRA regulated?
Yes, by the Financial Industry Regulatory Authority (FINRA) and the US Securities and Exchange Commission (SEC).
When were they formed?
2016
What is the business address?
Bitcoin IRA business is located in Los Angeles, California.
15303 Ventura Blvd., Suite 850
Sherman Oaks, CA 91403
What is their telephone contact information?
Tel: 877-936-7175
Who is the Executive Team?
Camilo Concha Co-Founder and Chief Executive Officer (CEO)
Johannes Haze Co-Founder
Chris Kline Co-Founder and Chief Operations Officer (COO)
Maryann Bullion General Counsel and Chief Compliance Officer
Risk Disclosure: Any investments, such as crypto and precious metals, come with an inherent risk, where you could end up making less money than what you put in. Before investing your hard-earned cash, be sure to speak with licensed professional financial advisor first. Always remember that past performance is not an indication of future returns.
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