Many people are scared to invest because they don't know who to trust with their investments. A Bitcoin custodian service can help by storing your Bitcoins securely so you can rest easy knowing that your investment is safe from hackers and thieves! In this blog post, we will discuss the best bitcoin IRA custodian services available today.
Top 7 Bitcoin IRA Custodian Compared
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Best Bitcoin IRA Custodian Reviews
Goldco Direct LLC was started by Trevor Gerszt in 2006. They have been around for 14 years and know how to handle precious metals accounts. They have expanded their account lineup during this time. It also has many reviews from customers.
Goldco is renowned for its Gold and Silver IRAs, but it also offers taxable accounts. A third option is Cryptocurrency IRAs––an increasingly popular form of retirement account.
Goldco is a company that offers many different ways to store your money. You can get help from them no matter what you need, and if you decide to sell your gold, they will buy it back.
- Many Storage Options
- High Authority Rankings
- Exceptional Support
- Outstanding Customer Reviews
- High IRA Account Minimums
- You can't set up your account online.
BitIRA is the best place to invest your hard-earned money. They offer 24/7 trading, secure cold storage for digital assets, and $100 million of insurance protection.
In 2016, BitIRA became the first and largest company to allow people to invest in cryptocurrency with their retirement accounts. The company has easy account setup and management, 24/7 trading, and military-grade security. These are reasons why we chose it as the best Bitcoin IRA company overall.
BitIRA does a good job of guarding against theft or loss - every investment comes with a dollar back-up, so you never have to worry about it being stolen. Plus, you can get a million-dollar insurance policy in case your funds are stolen and as well a sound one-million-dollar cybersecurity plan in place just in case of emergencies.
- Secure offline digital asset storage
- This company insures digital products.
- Strong encryption means that you are safe from people hacking into your crypto
- Great customer service
- High setup and maintenance fees
- You need an expert to open your account.
Regal Assets have IRAs with two kinds of investments. You can invest in hard assets and digital assets, which include cryptocurrencies.
Regal Assets was founded in 2010, but they started dealing with cryptocurrencies only a few years back. While precious metals were initially the company's main focus, they couldn't turn their back on bitcoin when it took off so convincingly.
They are the first company to receive their license for crypto trading. They offer 14 cryptocurrencies on their site, but they will allow other trading options as well.
- Choose from every known cryptocurrency
- Flat rate fees
- Insurance for digital assets up to $250 million
- $25,000 minimums
- Need a rep to start your account
iTrustCapital offers transparent pricing and expert services to both novice and expert investors looking for a custodian service.
iTrustCapital is a new company founded in 2018 that allows individuals to buy and trade cryptocurrencies and physical gold through their retirement accounts. They have the lowest service and trade fees we've come across, placing them at number one for best rates out of all companies.
The company secures its digital assets with an institutional-grade virtual wallet employing multiple authentication protocols used by banks and the military. The company has a $50 million insurance policy from Munich Re. It is a leading company that has been in the business for over 140 years.
- Low fees for accounts and trading.
- You need at least $1000 to invest.
- 24/7 trading
- There are not any financial advisors on staff.
Bitcoin Advisors provides personalized assistance and high-quality education from a seasoned investment professional. You can reach the company's account team at any time, and they are always happy to answer your questions.
Bitcoin Advisors is a custodian service for individuals that are 50 or older looking to invest their retirement funds in Bitcoin.
If you're looking to buy cryptocurrency like bitcoin for your retirement portfolio, consider working with the experienced professionals at Bitcoin Advizers.
- They can help with all the steps to setting up a Bitcoin IRA.
- Crypto can diversify a retirement portfolio
- Low minimum investment
- Few cryptocurrencies available
- A new company, but the staff has years of experience
Noble Bitcoin is a subsidiary of Noble Gold. The company founders Charles Thorngren and Collin Plume opened the bitcoin IRA company because they were convinced that there are not enough cryptocurrency companies providing honesty and transparency with their customers.
The company is one of the newest players in the cryptocurrency investment game. Their offer includes a variety for you to choose from, with four different digital currencies offered; bitcoin, Ethereum, Litecoin, and Ripple - not as many choices as some competitors provide but still an excellent selection!
- Noble Bitcoin is a top-rated service from both the BBB and TrustLink rating agencies.
- They offer clients a choice of four major cryptocurrencies
- Noble Bitcoin is headed by a CEO and president who work together to bring their wide-ranging financial expertise directly to customers.
- They are not transparent in the fees and costs they charge on their website.
- Some other companies offer more than four different cryptocurrencies.
Equity Trust Company, a privately owned company by the Desich family, has unmatched service in the industry. Their track record of excellence is one part that stands out, and they continue to offer you optimized solutions, processes, and services.
This company is ideal for investors who want quality customer support, low fees, and many choices of investments. It's also optimal for those who are interested in working with an established brand. One drawback is that the company does not offer check writing services, which may be an inconvenience for some investors.
- Supports traditional and alternative investments
- They have a great reputation with excellent customer service.
- With lower fees than other custodians and no transaction fees
- Does not offer check writing services.
- The service doesn't offer tailored advice. They have advisers that help, but these advisors are only general and not personalized.
What is a Bitcoin Custodian?
An IRA custodian is an institution that is licensed and controlled by the IRS. The custodian could be a bank, trust, credit union, or another company called a nonbank custodian.
Bitcoin custodians act as a third-party cryptocurrency storage solution for Bitcoin, Ethereum, and other altcoin investments. Just like any bank that holds your physical assets such as gold bars or silver coins in their safekeeping vault. Digital currency bitcoin IRA custodians also offer secure cold wallet solutions to store the digital tokens you are investing in securely offline.
Many larger crypto investors prefer to leave the security of their digital assets to custodial services instead of securing them with private key encryption.
A Bitcoin custodian service is a type of financial institution that holds investors' securities for safekeeping, preventing them from being stolen or lost. There has been a rise in the quantity of these institutions over the past few years as demand increases from institutional investors.
What is the Difference Between A Bitcoin IRA Provider, Custodian, and Custody Solution?
If looking for bitcoin IRA info online, you are likely to run into a mix of information. People talk about 'facilitators,' self-directed IRA custodians, wallets, and more.
Typically, Bitcoin IRA investing requires the involvement of three different agencies.
Bitcoin IRA Services
They are considered 'financial conduits.' Here are the agencies you need to contact when you want to add bitcoin into your IRA. Many of these agencies are not regulated by the SEC like traditional banks and IRA custodians.
Self-Directed IRA Custodians
A self-directed IRA custodian holds investments in your IRA in your account. You can own things like real estate and gold with a self-directed IRA. There are banks, credit unions, and other entities that do this.
Custody or Wallet Providers
Lots of bitcoin IRA services have partnered with a specific wallet solution. This is the financial institution that actually stores your bitcoin.
Factors to Consider in Picking the Right Bitcoin IRA Custodian
To start investing in a bitcoin IRA, you first need to find the best company to manage your investment. There are many companies out there, and it's important you do some research and choose it wisely.
You should look for a custodian who has an established reputation and a thorough understanding of the cryptocurrency market. You should consider some things when you are deciding what company to work with.
In-Depth Knowledge & Experience
The crypto market is fairly new. New technology and methods of doing business still pose many challenges for traditional financial institutions.
Bitcoin is a rapidly growing market and should be seriously considered by new investors. A cryptocurrency that does not have a depth of knowledge about the market will cause you to miss out on opportunities for lucrative investments.
It is essential to look for a bitcoin or crypto custodian service with specialization, experience, and history.
Different bitcoin IRA custodians have different ways of charging you. Some charge a flat fee per year for the management of your investment, but others charge a percentage based on how much you invest.
One option or the other may be better suited to you based on the size of your funds and investment strategy.
It's crucial to protect your investments against the threat of hackers. To do that, consider looking for a bitcoin and crypto custodian and consulting with them about security practices.
You should consider a company that offers multi-signature capabilities and high-security offline storage of assets.
Quick & Easy Set-Up
It is now feasible to invest in Bitcoin and other cryptocurrencies without having to get your hands dirty with countless software tracks or the cumbersome task of setting up mining hardware. There are over a dozen cryptocurrency IRAs available, but many reputable companies will offer support for the conversion of an existing IRA into one that specializes in these alternative currencies.
Depending on what you are using your IRA for, an important consideration for you might be the timing in which you can buy and sell investments. Some people may want to invest a set amount of money that they will not touch until some later date when it is time. Others may want to react quickly when opportunity presents itself within the market.
For this reason, it is best to find a service that operates with an IRA account in the event you need to buy and sell quickly.
It's always a good idea to take a look at what other people are saying about the company in question. By researching their ratings and reviews, you can get a good sense of their standing in the market.
More established companies will have many reviews as they have been in the market for a long time.
How Can You Find a Bitcoin IRA Custodian?
There are a lot of self-directed IRA custodians available. You can find more bitcoin IRA custodians on the IRS-approved nonbank trustees' list.
A good tip before selecting a custodian, contact them and ask about their services or fees for storing bitcoins.
If you want to invest in cryptocurrency IRAs, be aware that some companies only work with specific custodians. This signifies that you will have to use a specific custodian offered by the company if you want to go this route.
Bitcoin and crypto IRAs are relatively new investment vehicles, and the industry is filled with shady providers. Getting started in the cryptocurrency marketplace is a daunting task. There are some great Bitcoin IRA custodians who can help you invest safely with their company and make the process less intimidating.
To have a secure investment into crypto, choose a company with thorough security policies and break down the process in an understandable way to you. Remember, these investments are unregulated, and there are no promises of protection for your money.
Investors should always know the rewards and risks of cryptocurrency in order to make an educated choice.