Cryptocurrency IRA

Cryptocurrency IRA is a type of retirement account that invests in cryptocurrency. Cryptocurrency IRAs are regulated by the IRS. People who invest in them have to pay taxes on their earnings, just like with any other IRA or 401k. An investment in a cryptocurrency IRA can be lucrative for people who want to get into crypto investing and don't want to risk losing money because they're not knowledgeable about it yet.


Top 5 Cryptocurrency IRA Companies Compared

RANK

COMPANY

TRUSTLINK

MIN. INVESTMENT

PRICING

MORE INFO

1

Goldco

5 Star Rating

$25,000

Great - 10K Free Silver*

2

BitIRA

5 Star Rating

$5,000

Good

3

Regal Assets

4 Star Rating

$10,000

Good

4

iTrustCapital

4 Star Rating

$2,500

Good

5

Coin IRA

4 Star Rating

$20,000

Good

6

Bitcoin Advizers

4 Star Rating

$10,000

Good


Cryptocurrency IRA Companies Reviews

Goldco

Goldco

www.goldco.com

Star Rating

Goldco Precious Metals has been helping people diversify, grow and protect their wealth with physical metals since 2006. They specialize in gold IRAs but also sell precious metals directly to customers.

 
Goldco is known for excellent customer support as well as top-notch educational resources among the investing community.


Trevor Gerszt is the mastermind behind Goldco, a company that helps Americans protect their retirement accounts from market volatility and inflation. Inc Magazine named it third fastest-growing financial services group in America and Los Angeles Business Journal ranked it 17th for growth rates among LA companies since 2012.


The company offers many services for people to take advantage of. These services include buying and selling physical precious metals as well as a few other things that you should be aware of.


Pros

  • First year fees waived
  • They don't have advisors who are too pushy.
  • They are beginner friendly and very knowledgeable
  • A trustworthy financial planner can ensure that you make the right decisions.

Cons

  • The minimum investment is high
  • No custodian or storage option. But they have good relationships with other companies.

BitIRA

Bitira

www.bitira.com

Star Rating

BitIRA is a company that lets you put money in an IRA account to trade cryptocurrencies. They are based in Burbank, CA. You can utilize a Traditional, Roth, SEP, or SIMPLE IRA. Or you can use any retirement account that is eligible to be rolled over to an IRA.


You can invest in stocks and bonds through your retirement account. You might not be able to trade with cryptocurrency, though, but BitIRA lets you trade in an IRA. Once you are trading in an IRA, there are no taxes for you to worry about.
Since 2014, it has been possible to trade cryptocurrencies through an IRA. The IRS (Internal Revenue Service) said that they are property, which means that they can be traded for retirement accounts.


BitIRAs handles the setup process for your account. It is a turnkey service, and the minimum you have to invest is $5,000. They use Equity Trust and Preferred Trust to hold your money. Buying and trading of cryptocurrencies are done through one of their cryptocurrency exchange partners. It does give a wallet, which is a cold storage wallet. You don't take possession of the wallet keys as those are maintained by BitIRA.


Pros

  • Fully-assisted setup, account rollover, and funding process
  • Cold storage wallet to secure your funds offline
  • Tax-deferred gains
  • Bitcoin and other crypto protected against inflation by several key factors, reducing the risk of devaluation and debasement

Cons

  • Potential long wait time between account setup and then investing.
  • The minimum investment for this is high.

Regal Assets

Regal Assets

www.regalassets.com

Star Rating

Regal Assets gets a lot of praise from its customers and from people who know about the industry. Celebrities, like (famous person), invest there too. When they called them over the phone, they were very helpful. They said that they had a 99.9% satisfaction rate because their opening was really good. They also told us that they had recently been ranked #20 in Inc Magazine's famous top 500 list.

 
They've been in financial newspapers such as Smart Money, Forbes, Yahoo! Finance, and Market Watch.


There are many reasons that Regal Assets became one of their top gold IRA firms in 2021. One reason is that they have great customer reviews, no complaints, and competitive prices. They also sell precious metals and bullion coins.

 
Pros

  • Official member of the Forbes Finance Council
  • AAA Rating with the Business Consumer Alliance
  • This company has a rating of A+ with the Better Business Bureau.
  • Customers on TrustLink gave this company a 5 out of 5-star rating, and the company is a preferred member.

Cons

  • Currently, they only work with people from a limited number of countries.

iTrustCapital

itrustcapital

www.itrustcapital.com

Star Rating

iTrustCapital is a company that you can invest in through your retirement account. You can use it to invest in cryptocurrencies, gold, and silver. This is a company for people who are thinking about investing in an alternative investment. It provides them with a simple and easy-to-understand website so that they can be more comfortable with what they are doing.


When you are retired, iTrustCapital gives you a choice. You can take your money in cash or in the assets that you invested in. This is a good place to invest money. It has a simple structure, and it offers an IRA. The platform only supports some cryptocurrencies, but this does not matter because there are many other places where you can buy cryptocurrency with more options, like Coinbase.


Traditional and Roth IRAs do not usually have a monthly fee. Self-directed IRA providers that offer precious metal investments must charge an account maintenance fee to pay for tax reporting and safe storage.


iTrustCapital charges $29.95 a month for everyone. This fee pays for setting up your self-directed IRA, transferring your assets to the new IRA, storing physical assets in the account, and government reporting needs. When you open your account with iTrustCapital, they will ask for a card. You can pay monthly fees with that card too.


Pros

  • The easy-to-use platform allows you to trade your assets in a short period of time.
  • Orders will be done in about 5 minutes.
  • They offer 24/7 order placements and portfolio monitoring.
  • They have live chatting and also phone customer service available.

Cons

  • You can only buy and sell a restricted number of cryptocurrencies.
  • There is no mobile app for this.

Coin IRA

Coin IRA

www.coinira.com

Star Rating

Coin IRA gives you a chance to have more diversified retirement savings with cryptocurrency IRAs. Digital currency experts help you roll over your current 401(k) or IRA into a self-directed IRA that holds Bitcoin, Ethereum, XRP, Litecoin, and Ethereum Classic. Coin IRA also offers another account for people who are experienced. It is called a non-IRA account, and it has higher trading limits.


Coin IRA is a company that assists you in saving money. They help people who want to trade their money for digital coins. You can fund your account and tell them what you want to do with your investments: coin IRA stores your Bitcoin, Ripple, Litecoin, and other virtual currency in your choice of wallets.


Coin IRA is a company that provides investments for people who want to buy gold and silver. They are a subsidiary of Goldco, which is a company trusted by many people. Coin IRA uses the expertise of Goldco by providing investments in cryptocurrency as well.


Pros

  • Multiple storage options
  • Low fees
  • Highly specialized IRA consultants are available.
  • They are open on the weekend by appointment.

Cons

  • There are no fees on the website.
  • This website only shows some of the cryptocurrencies that are available to buy.

Bitcoin Advizers

Bitcoin Advizers

www.bitcoinadvizers.com

Star Rating

Bitcoin Advisers helps you to buy and sell bitcoin. The company has a dealer who will help you understand how bitcoin works. There is only one person who takes care of your account, and they will answer any questions that you have. Bitcoin Advisers helps people who are 50-70 years old with investing in cryptocurrencies. They will help you manage your cryptocurrency IRA.


Cryptocurrency like bitcoin can possess a place in your retirement portfolio. It's hard to buy bitcoin in an IRA account, but you can work with professionals who know how at Bitcoin Advisers. While any company can help you set up a Bitcoin IRA, Bitcoin Advisors specializes in helping people who are over 49 years old. They chose them because their client implementation is the best for their Bitcoin and Cryptocurrency IRA guide.


Pros

  • Help with every pace of setting up and funding a Bitcoin IRA
  • Cryptocurrency can help make your retirement portfolio more interesting.
  • Low minimum investment
  • There are many cryptocurrencies available.

Cons

  • A new company, although the staff has years of experience

What is a Cryptocurrency IRA?

A Bitcoin IRA is like a normal IRA, except you are investing your money in Bitcoin instead of mutual fund shares. You can choose between traditional and Roth self-directed IRAs and benefit from their tax advantages.


A cryptocurrency IRA is an IRA where you can put in money from your paycheck or bank account. You can use the money to buy different things, including Bitcoin. IRS rules do not allow Bitcoin in traditional IRAs. However, the Internal Revenue Code does not tell what Self-directed plans can invest in. It only says what they can't invest in. Cryptocurrency brokers and custodians say that investing in cryptocurrencies is allowed.


The IRS has not said anything about them being disallowed. Bitcoin IRA is a retirement plan that you can put money into. It lets you trade in cryptocurrencies, including Bitcoin and eight other coins. You also have the choice to buy gold with it too. It's not a crypto exchange or wallet, but a policy to run your IRA and access crypto trades and a wallet.


You can finance a new Bitcoin IRA account by rolling over $3,000 from your existing IRA, 401(k), or 403(b) funds. You cannot transfer any cryptocurrency holdings from another platform into your Bitcoin IRA because of IRS regulations. Any virtual currency you buy through the platform must be done in USD.


Bitcoin IRA will help you roll over your retirement funds. They do this in three business days, and you can start trading once it is done. The money stays inside the account, an IRA account, so you won't have to pay taxes on it. You can also use the money that you put into the account for a tax deduction.


Bitcoin IRA is like any other self-directed IRA. You can tell it what to do. You choose which currencies to invest in and when and how many of them you want to buy, trade or swap. Cryptocurrency on Bitcoin IRAs is stored in a BitGo digital wallet. This is a "cold wallet" with 100% offline storage. That's a common security feature that protects your cryptocurrency from hackers.


Why Add Cryptocurrencies To Your IRA?

People might want to include bitcoin or altcoin holdings in their retirement account. This will help them protect their investment in the event of a market downturn.


Diversification


Cryptocurrency is an asset that is not correlated with stocks and bonds. This may help protect the value of your retirement account. Even though cryptocurrency may go up and down, it might not go up and down as much as stocks and bonds would.


Long-Term Appreciation


"Bitcoin can be very volatile, but there is also huge potential for gains. For example, Bitcoin was worth $5200 on March 15 and ended the year close to $30K. Ethereum is the second well-liked cryptocurrency, and it was up over 400% in 2020. In Bitcoin, there is huge upside potential. This is worth the risk. It's worth investing in, even if it's just a small percentage of your IRA value.


The stock market is different from the cryptocurrency market. Cryptocurrency is more unpredictable than the stock market, and it's hard to know what will happen. You need to make ready for all kinds of scenarios, so don't panic, sell or buy things you do not need. 


How To Invest In Cryptocurrency With A Self-Directed IRA

Cryptocurrency is a variety of digital money that is difficult for most people to understand. Investors who want to use their retirement plans for this sort of investment can do so with an IRA.


Digital assets are being used as an alternative to government-backed currency. People who don't have a bank account or people who want to do transactions that can't be traced can use digital assets. These types of currencies are becoming more popular this year, and they make a lot of money for the people who own them.


Other cryptocurrencies are called Ether, Litecoin, Cardano, Polkadot and Monero and many more.


How To Setup A Cryptocurrency IRA

Step 1 Open an account to invest your money. You will need to sign the agreement and provide your government ID.


Step 2 Transfer your existing retirement account funds to a new account or construct a new contribution.


Step 3 As part of your Crypto account application, you will permit us to set up a trading account for your IRA. You will also authorize the first investment amount from your IRA to fund this trading account.


Step 4 You will receive an email with instructions to access your new Gemini account. This is where you can buy Bitcoin and Ether, and other cryptocurrencies too. You need a unique email address that isn't already used for another account in order to get the email.


Step 5 When you trade and store cryptocurrency with the Gemini account, it will be a part of your IRA.


Conclusion

If you are thinking of a way to inject growth potential into your long-term portfolio, holding crypto in an IRA may be a viable option. Make sure you find a company with strong security policies and clear transaction guarantees. There's no regulation of fees, so make sure to ask that too.


Although this industry still has its fair share of volatility, financial professionals now have enough data to make qualified assessments that will safeguard your money while providing attractive returns on investments.

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