BlockMint is a cryptocurrency IRA company owned by precious metal dealer and investment group Lear Capital. With this company, investors can choose to purchase cryptocurrencies with existing retirement accounts like IRAs.
If you’ve been thinking about investing in cryptocurrency but don’t know where to start, This company might be a good option for you. The company offers an investment service that allows investors to allocate investments between the two most popular cryptocurrencies.
Overview of BlockMint
BlockMint is a company that sells digital currencies to people and they also have investment options. They also have an IRA (individual retirement account) where people invest in metals. It is also an offshoot of Lear Capital, which sells gold and other precious metals. They have been in the investment business for two years, while Lear Capital has been around for twenty years.
More investors are deciding to invest in cryptocurrencies. This is done by banking on the crypto’s potential for long-term growth. They have dedicated account executives who can walk you through investing in cryptocurrencies and selecting what cryptocurrencies to purchase.
This is a riskier investment, and you should have a plan for what happens if something goes wrong. You need to make sure that the other parts of your retirement portfolio are balanced so they can offset any bad things that might happen with cryptocurrency investments.
BlockMint is a company that can help you with your IRA. They do this through a partnership with an IRA custodian, New Direction IRA.
They handle people who buy and sell Bitcoin, Litecoin, or Ethereum. When the person completes an order, they coordinate the money with a company called New Direction IRA to complete the trade.
Products and Services
The company makes technologies that let people use blockchain-based apps without depending on a central server. You can use your computer to make money. People may want to buy something from you, but they don’t have enough money. You can sell them a product or service and then get more money from their account by giving it in return.
This is why they have built Minter. It has a secure and private browser where you can mine cryptocurrency as you browse the internet. You can use it to earn either carbon credits or fractional ownership in a non-fungible token (NFT) from our portfolio.
Costs & Fees
An IRA is an account where you can put money that you don’t need to use right away. There are other costs with an IRA, like taxes and fees.
- Account start-up fee: There is a one-time $500 charge to enroll in this account. This account also has a 1% transaction fee on each trade.
- Transaction fee: When you buy cryptocurrency, a 15% fee is applied.
- Annual storage fee: Every year, there is a $195 maintenance fee.
- Monthly fees: Every month, there are two fees: an annual fee of $20 and a monthly maintenance fee which is equal to 0.07% of your account’s balance.
How Does it Work?
BlockMint has a program that lets you put money into an IRA.. Like other IRAs, it uses cryptocurrencies instead of dollars, gold, or other common investments. You can fund your IRA by transferring money from an existing IRA, 401(k) account or you can buy cryptocurrency in your IRA. It is an investment, but it is pretty simple. You can do this in three steps:
To apply for BlockMint, you can visit their website. Then you can click on the “Get Started Now” button. That takes you to an online application. It takes about a few minutes to complete this application. You can also contact them if you prefer to talk to someone in person about your application.
Choose Your Investment
You need to decide how much you want to invest in your bitcoin IRA. You can transfer money from an existing account into a new cryptocurrency IRA, and you will not have any penalties.
Once you transfer your money to this company, they will ask you to choose what type of cryptocurrency you want. Their representative will help you decide which one is right for you.
BlockMint Pros and Cons
- Cryptocurrency makes trading easier.
- The company accepts Bitcoin, Etherium, and Litecoin.
- Transport and storage company takes care of everything during the purchase, transport, and storage of items.
- Account Executives
- IRA transfers to avoid taxes
- Easy to use online application
- Locked into IRA custodian and storage option
- New high-risk asset class with market volatility.
- Monthly and annual fees are a way to pay for something that you use every month or year.
Customer Support & Customer Complaints
Coin IRA offers an easy way to set up a self-directed IRA that can hold cryptocurrencies. Opening a cryptocurrency IRA is an excellent way to diversify your retirement portfolio with a portion of your savings. Coin IRA has two kinds of IRAs. One is traditional and the other Roth IRA. With either, you don’t have to pay taxes on the money you put into it. And your money can grow in the account without paying taxes on it until you take it out later.
Coin IRA is one of the best companies from our list of cryptocurrency IRA companies. They offer something that no other company on our list does – the ability to trade with your money outside the IRA. Digital currency consultants trade and move money to a safe place where it cannot be taken away. You can ask Coin IRA consultants any questions about Bitcoin, Ethereum, Litecoin, XRP, or other virtual currencies.
Coin IRA does not publish its annual costs on its website. But we found some information in a review that says that the company’s annual costs are from $175 to $225, and there is also a yearly maintenance fee of $80 and an annual storage fee of $100.
If you want to set up an account, it will cost $50. You can ask a representative for more information about the cost. Coin IRA’s minimum investment is $25,000 for a retirement account with tax benefits. You’ll need at least $3,500 to fund a non-IRA cash account to trade cryptocurrency.
Goldco is a company that sells precious metals. People can buy them in an IRA instead of stocks or bonds. This company was founded in 2006 and has been selling gold, silver, platinum, or palladium ever since. This type of IRA investment was made possible by the Taxpayer Relief Act of 1997. This law made exceptions to the collectibles rule for a few specific bullion types and specific qualifying coins.This company helps you with a self-directed IRA.
They work with IRA custodian companies and customers to create new accounts and provide services for those who want to transfer IRAs from other companies or financial institutions into self-directed gold or silver IRAs.
Goldco provides certain brokerage services for gold-funded IRAs and helps roll over other types of retirement accounts to a gold IRA. They also buy back the physical gold or sell it through the trade when someone begins taking money from their IRA.
BitIRA is a company that helps you to open your account. It is easy because they do everything for you. You just need to give them $5,000, and they will help you with the rest. They use two other companies called Equity Trust Company and Preferred Trust Company to take care of the money for you.
Buying and selling of crypto are done through BitIRA’s cryptocurrency exchange partners. It provides a wallet to store the money you buy. The wallet is for storing money, but you don’t have the key in this type of cold storage.
You have to pay for these fees. Custodial fees are paid when you buy or sell something. You also have to pay storage fees and trading fees. The trading fee is how much you give the person who helps you trade, and it is a lot of money. BitIRA does not give details about what this will cost you,
The custodial fees are also unclear. On one page, BitIRA says that customers can expect to pay the full custodial fees:
- Account Set-up Fees — $50
- Annual Maintenance Fees — $195
- Storage Fees — .05%/month
BlockMint is an excellent partner to invest in if you’re experienced with cryptocurrencies and are familiar with the terms of account registration. They offer many features for cryptocurrency enthusiasts such as accessibility across multiple devices including smartphones.Having plenty of cryptocurrencies to choose from, a nifty advisor feature, and competitive fees are just some reasons why BlockMint deserves your attention.