Last Updated on December 19, 2022 by Ben
Bitcoin IRA is a company that believes in the future of Bitcoin. They offer you the chance to invest your retirement funds in cryptocurrency and are fully transparent with their process, so you know what you’re getting into. With this article we will be exploring Is Bitcoin IRA Legit?
Bitcoin IRA is a cryptocurrency IRA that offers the world’s first, largest, and most secure IRA platform for cryptocurrency.
BitcoinIRA is the first full-service solution to offer Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash and Ethereum Classic within an IRA account. It allows investors to trade these currencies with their traditional 401k or Traditional IRA retirement plan.
The company is a cryptocurrency-only investment firm that first began in July of 2016. They now hold ten million dollars worth of bitcoins for customers’ investor’s IRAs, and became the first company to offer Ethereum IRAs.
What Do They Offer?
Bitcoin IRA is the first platform that allows you to trade cryptocurrencies from your retirement account. The company offers a full-service, self-directed service for trading cryptocurrency which sets them apart from others who only offer one part of this service.
It is a company that provides its customers with the following:
- Shift of an existing IRA to Bitcoin IRA
- Cryptocurrency trading for 24/7
- Reporting — performance and financial statements
Eligible retirement accounts vary widely. A 401(k) might be an option if it is current, but in order to do so you must either have reached the age of 59.5 or left your employer sponsoring the account that can then be rolled over into an IRA (but this may not always apply). Annuities and pensions are also considered eligible retirement options as well. The company currently is only available for self-directed IRAs.
The minimum to open a standard account is $3,000.
What Cryptocurrencies Does Bitcoin IRA Support?
The company offers nine different cryptocurrencies, including Bitcoin.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Zcash (ZEC)
- Stellar Lumens (XLM)
- Bitcoin Cash (BCH)
- Digital Gold (DG)
- Ethereum Classic (ETC)
What Does Bitcoin IRA Include?
A crypto IRA is a kind of self-directed IRA. This means that you can invest in things without paying taxes on capital gains or dividends.
You can save money by making contributions to a traditional IRA, which are tax deductible in the year you make them. You will only pay taxes when you withdraw funds. But if you withdraw funds before retirement, there may be an additional penalty.
Your digital assets are stored safely with BitGo Trust which is powered by the world’s largest processor of on-chain Bitcoin transactions, processing 20% of all global Bitcoin transactions and holding over $2 billion in assets.
The BitcoinIRA dashboard is sleek and neatly displays your portfolio balance in a no-nonsense interface. From there, you can easily navigate to the buy, sell, or swap tabs at any time for instant trades without hassle.
How Much Does Bitcoin IRA Cost?
Bitcoin IRA is an investment program that charges three standard fees. The one-time service fee, which is variable depending on how much bitcoin you want invested. Then there’s also the custodial fee that comes with all IRAs. And finally, there’s also security costs associated with investing in any investment account these days. Speak to the representatives so they can explain more about what type of cost plans they have.
The initial fee covers comprehensive services to manage your cryptocurrency including:
- Rollover IRA support services
- Establishing a self-directed IRA with BitGo Trust
- Best-in-class security storage
Is Bitcoin IRA Insured?
They are a full-service solution that allows you to invest in bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash. They work with trusted platforms and custodians based in the U.S., and your assets are insured up to $100 million through BitGo Trust; plus your account is protected by stringent security measures.
Your funds are held in cold storage by BitGo, to protect your identity and account from hackers. Bitcoin IRA’s platform meets the highest standards of security protocol with bank-level protection.
Is Bitcoin IRA Legit?
Bitcoin IRA allows companies and retirement planning institutions to invest in Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and Ethereum Classic on behalf of IRA accounts.
This company hopes to make the process of investing in cryptocurrencies simpler. To do this, they want to be fully transparent and straightforward to help people meet their retirement goals.
The company accounts are legit. They are legitimate, and people can use them for retirement. Alternative asset classes like cryptocurrencies and gold have been IRA options for years. All IRAs, including digital currency IRAs, must be managed by professionals.
This company is for the investor who:
- In your retirement savings account, you have at least $3,000.
- You want to protect your retirement account from market swings and inflation.
- You want to invest in cryptocurrencies, so you don’t have to pay taxes.
- You can plan for the volatility in your retirement portfolio.
Bitcoin IRA is an established retirement investment service. It provides a simple, low-maintenance plan for securely investing in cryptocurrency within qualified retirement accounts (IRAs). Reviews and the company’s website indicate that it is at the top of its game, teaching clients about digital tax-free investments.
You should carefully review your options before taking a gamble on cryptocurrencies as a part of your IRA investing strategy. A trustworthy firm can help to secure the future you have painstakingly worked for and planned for.