Crypto IRA reviews reveal the best and most reliable crypto IRA companies. We chose these companies based on lowest fees, customer reviews, leadership team, and transparency.
Best Crypto Storage
Best Customer Support
My Digital Money
Custodial setup fee waived for a limited time ($150 value)
$100 reward when you fund your account
Free Ledger for new customers
$50 or a free NFT to new qualified accounts
- Buy & sell crypto 24/7
- Up to $700M custody insurance
- Over 60+ cryptocurrencies
- Tax-free investing
- Insured cold storage wallet
- Excellent customer support
- Dollar-for-dollar custodial insurance
- Tax-free growth
- Industry leading customer support
- Military-grade security
- A-rated insurance
- Tax-advantaged crypto trading
Market volatility and the increasing popularity of cryptocurrencies have many investors wondering how they might include crypto in their retirement portfolios.
Because the IRS classifies digital assets as property investments, you can use them in individual retirement accounts (IRAs) through certain IRA providers.
These seven Bitcoin IRA companies are the best choices to help you protect and diversify your retirement portfolio.
Top 7 Best Bitcoin IRA Companies
- Bitcoin IRA – Editors’ choice
- iTrustCapital – Lowest fees
- BitIRA – Best crypto storage
- My Digital Money – Best customer support
- Alto IRA – Best for alternative assets
- Coin IRA – Best for non-IRA accounts
- Choice App – Best rated app
We thoroughly researched dozens of available crypto IRAs and chose seven based on their fees, promotions, length of time in business and leadership. We also looked at verified third-party Bitcoin IRA reviews to ensure our selected companies provide the services as advertised.
Crypto IRA Reviews
These are the seven best crypto IRAs available (and which market they are best for).
Bitcoin IRA – Editors’ Choice
Chris Kline, Johanne Haze, and Camilo Concha founded Bitcoin IRA in 2015 to provide a way for investors to control their futures and invest in a growing asset class without the intermediary of a mutual or exchange-traded fund.
- Location: Los Angeles, CA
- Services: Bitcoin IRA, Bitcoin 401(k), Bitcoin Roth IRA and Saver IRA
- Available Coins: 60+ cryptocurrencies
- BBB Rating: A+
- Account Minimum: If you want to roll over from another account, the minimum is $3,000. If you want to deposit cash, the minimum is only $100, but it requires a recurring monthly contribution.
- Setup Fee: 5.99% of your initial deposit
- Trading Fee: 2% per transaction
- Management Fee: 0.08% of your account value monthly
Why we chose Bitcoin IRA: Bitcoin IRA is the most secure and experienced provider on this list. Its early entry into the business gives it a unique perspective that most other companies cannot match. This, combined with its vast array of excellent offerings, puts the provider at the top of our list.
Promotion: Custodial setup fee waived for a limited time ($150 value)
iTrustCapital – Lowest Fees
iTrustCapital has more than four years’ experience and has handled more than $6 billion in transactions. A highly-experienced team of business and security experts committed to protecting and working for their investors lead the company.
- Location: Irvine, CA
- Services: Crypto IRA and Precious Metals IRA
- Available Services: 30+ cryptocurrencies, physical gold and silver
- Investment Minimum: $1,000
- Cryptocurrency Trades: 1% per transaction
- Physical Gold: $50 over spot per ounce
- Physical Silver: $2.50 over spot per ounce
Why we chose iTrustCapital: iTrustCapital has a highly transparent and consumer-focused fee structure. The company also has excellent rates and fees and provides customers with top-notch information to make the best possible decisions.
Promotion: $100 reward when you fund your account
BitIRA – Best Crypto Storage
Jeremy Warner founded BitIRA to create a secure, accessible way for investors to grow tax-deferred crypto investments. Since then, the company has gained a reputation for its secure storage methods and hundreds of positive customer reviews.
- Location: Burbank, CA
- Services: Crypto IRA
- Available Coins: 18+ cryptocurrencies
- BBB Rating: A+
- Investment Minimum: $5,000
- One-Time Setup Fee: $50
- Maintenance Fee: Ranges from $300 to $1,000 per year, depending on the amount in the account
Why we chose BitIRA: BitIRA is one of the most secure cryptocurrency IRAs available. The company uses a combination of cold storage (offline storage) that is more secure than any other crypto wallet and private keys.
Promotion: Free Ledger for new customers
My Digital Money – Best Customer Support
My Digital Money is a recently established cryptocurrency IRA company that aims to combat increasingly concerning high inflation rates.
It wants to create a more accessible version of crypto investing for less experienced investors and has found its footing among the best crypto IRA companies.
- Location: Pasadena, CA
- Services: Crypto IRA
- Available Coins: 18+ cryptocurrencies
- Fees: 2.9% per trade
- Investment Minimum: $1,000
Why we chose My Digital Money: My Digital Money has top-notch security, customer support and insurance. Though its trading fees are slightly higher than other options, it more than makes up for it in the security and promise you’ll have with your investment.
Promotion: $50 or a free NFT to new qualified accounts
Alto IRA – Best for Alternative Assets
Founded in 2015, Alto IRA aims to level the playing field between large-scale wealthy investors and the average American. The Alto IRA can contain a variety of alternative investments, including collectibles and other property assets.
You can use almost anything approved by the IRS in your self-directed IRA from Alto.
- Location: Nashville, TN
- Services: Alto IRA and Crypto IRA
- Available Assets: 200+ cryptocurrencies, art, real estate, private equity and farmland
- Fees: Flat rate of $10/month or $100/year
- Investment Minimum: The minimum amount to open an account with Alto varies by investment type. The Crypto IRA requires a minimum of $10
Why we chose Alto IRA: There are very few investment companies that will allow you to invest in as wide a variety of assets as Alto. The company also offers excellent security and storage options and reasonable rates. Alto IRAs have very low investment minimums, making them accessible to the average investor.
Coin IRA – Best for Non-IRA Accounts
Your retirement investment is likely one of your most valuable assets. Coin IRA knows this, so it has set out to ensure that all investors are fully aware of the risks and rewards of cryptocurrency investing with retirement funds.
- Location: Woodland Hills, CA
- Services: Crypto IRA
- Available Assets: 20+ cryptocurrencies
- BBB Rating: A+
- Fees: 1.25% on buy trades and 1% on sell trades
- Investment Minimum: $20,000
Why we chose Coin IRA: We chose Coin IRA for its customer support options. If you are a new or reluctant investors, Coin IRA will ensure you’re totally comfortable before putting any money down. While they allow fewer types of cryptocurrency, they ensure the cryptos on their platform meet their high standards.
Choice App – Best Rated App
Kingdom Trust runs Choice App and is committed to protecting consumers and allowing average, everyday investors to access crypto investing.
- Location: Murray, KY
- Services: Crypto Roth IRAs, Traditional IRAs, and SEP IRAs.
- Available Assets: Cryptocurrencies
- Investment Minimum: No minimum
- $0.005 per share, with a $1 minimum per trade
- 1% annual fee
Why we chose Choice App: Choice App has low rates — making the company a great choice for those closer to retirement — and offers excellent security and a quality insurance policy to protect investors. Combined with no minimum investment, this means it is a great choice for new investors.
Crypto IRA Guide
Before investing in a crypto IRA, here are a fee important things you should look for when making your decision:
- Look for crypto IRAs that meet your preferences. They should include the coins you want to invest in and have a fee structure that works for you.
- If you plan to let your investment sit, choose a crypto IRA with a high trade fee and low maintenance fee. Choose the opposite if you plan to trade frequently.
Understanding Bitcoin IRAs
IRAs allow people to invest in conventional investment options such as stocks, securities and bonds, while Bitcoin IRAs allow investors to put money into cryptocurrencies.
Per IRS regulations, investors need custodial management to reap the tax benefits of an IRA, and many crypto IRA companies have arisen to meet this demand.
Benefits of Bitcoin IRAs
Portfolio diversification: It can be difficult to represent digital currency in your retirement portfolio without having a crypto IRA, so opening one offers a unique kind of diversification you can’t get elsewhere.
Tax advantages: Cryptocurrency investing in a retirement account is one of the only ways to trade cryptocurrency while avoiding double taxation. You will either pay capital gains tax or income tax but not both.
Decentralization: No central location is running cryptos, which gives you added security.
Capital appreciation: Cryptocurrencies can rise in value much faster than other assets.
Security: Blockchain applications such as crypto are uniquely secure types of investments.
Risks of Bitcoin IRAs
Price volatility: The value of a cryptocurrency investment is largely based on speculation, so prices are highly volatile.
Account and trading fees: Because of additional secure storage requirements and the nature of digital currency, fees and costs for a crypto IRA are higher than most other types of accounts.
Complexity: The complexity of digital assets often requires the expertise of digital currency specialists.
High risk: The value of crypto depends on speculation and a coin’s perceived future value, making them highly volatile and subject to extreme fluctuations.
Crypto IRA Fees & Costs
These are the costs you can expect with a crypto IRA:
Account setup fees: Many accounts offer no setup fees on new accounts, but if they exist, they are often under $100 or 5%.
Storage fees: Crypto uses complex storage options, so some crypto IRAs will charge small storage rates. These are typically a small percentage of your total investment.
Account maintenance fees: Some accounts charge maintenance fees. These might be flat-rate fees of several hundred dollars or a 0.1-5% annual charge.
Trading fees: Trading fees are typically a percentage of each trade you make and can vary from 1-5%.
Bitcoin IRA Storage Options
Cold storage: Cold storage refers to offline storage. Because it is not connected to any public network, it is less “hackable” than other secure storage options.
Third-party crypto exchange: This storage utilizes distributed users and blockchain applications to create a highly secure storage place for your investment.
Popular Cryptos to Put in Your IRA
These are some of the most popular cryptocurrencies to include in your retirement planning:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Polygon (MATIC)
- Solana (SOL)
How to Pick The Right Crypto IRA Company
Choosing the best cryptocurrency IRA company depends on what you’re looking for from your crypto investments. If you want to trade frequently, look for accounts with low trading fees.
If you’re close to retirement, avoid accounts with hefty setup fees that will take a cut larger than you will be able to redress.
How to Open a Bitcoin IRA Account
- Choose your crypto IRA dealer.
- Check their eligibility requirements and investment minimums.
- Open an account.
- Speak to a crypto IRA specialist.
- Decide how you will invest.
- Begin the rollover process from an existing IRA, or fund your account with cash.
- Select the cryptocurrencies you would like to invest in.
- Trade your crypto inside your IRA, or sit back and watch your assets grow tax-free.
Which Crypto IRA Company is Right for You?
The right cryptocurrency IRA company depends on your individual needs and investment plan. All companies on this list will provide you with excellent services.
Choosing between them is up to you and your financial advisor and depends on the amount you plan to invest, the coins you intend to buy and your risk tolerance.
Bitcoin IRA FAQs
These are the most commonly asked questions about opening a crypto IRA.
What is a Bitcoin IRA?
A Bitcoin IRA is an IRA operated by Bitcoin. It allows you to fill your retirement account with alternative investment options that other IRA companies do not allow.
How does a Bitcoin IRA work?
A Bitcoin IRA holds cryptocurrency in place of conventional stock options in a Roth or traditional IRA.
Can I invest in Bitcoin with my 401(k)?
Few 401(k)s will allow you to invest in cryptocurrency, such as bitcoin cash. Instead, you can roll over your account into a crypto IRA, allowing you to buy bitcoin.
What does the IRS say about cryptocurrency IRAs?
The IRS says that account holders cannot place crypto in their accounts themselves and must use an account custodian.
Frequently Asked Questions
Do You Need to Open a Precious Metal IRA
The answer depends on whether you have an investment goal and how much risk tolerance you are willing to take.
Open an account today if your retirement plan calls for you to withdraw the funds.
Because precious metals are highly likely to appreciate over time, They also offer diversification benefits.
Furthermore, the prices of gold and silver tend to move together. They make a good choice for both assets and are a better investment.
If you're not planning on using your money for retirement or don't want to take any risks, you probably shouldn't invest in precious metal IRAs.
What precious metals could you invest in to retire?
The first step to retirement planning is understanding what you have saved now and where you are saving money. If you don't know how much you currently have saved, start by taking an inventory of everything you own. This includes all savings accounts and stocks, bonds or mutual funds. It also should include certificates of Deposit (CDs), life insurance policies. Annuities, 401k plans, real-estate investments, and other assets like precious metals. Add all these items together to calculate how much money you have for investment.
If you are less than 59 1/2 years of age, you may be interested in opening a Roth IRA. Traditional IRAs allow you to deduct contributions out of your taxable income. Roth IRAs don't. But, future earnings won't allow you to take tax deductions.
If you decide you need more money, you will likely need to open another investment account. Start with a regular brokerage account.
How much should precious metals be included in your portfolio?
The best way to avoid inflation is to invest in physical gold. Because precious metals are a long-term investment, you can not only buy in to the current value but also the future potential of these assets. Your investment will increase in value as the prices rise.
If you hold on to your investments for at least five years, you will receive tax benefits on any gains. After that time, capital gains taxes will be due. You can learn more about gold coins by visiting our website.
- SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How to Determine if a Gold IRA is Right for You
Individual Retirement Accounts (IRA) are the most popular type. IRAs may be obtained from financial planners or banks as well as mutual funds and banks. Individuals can contribute as much as $5,000 per year without any tax consequences. You can contribute this amount to any IRA regardless of your age. However, there are limits on how much money you can put into certain IRAs. For example, you cannot contribute to a Roth IRA unless you're at least 59 1/2 years old. Contributions must be made by those under 50 years old. Individuals who work for their employer could be eligible for matching employer contributions.
There are two types of IRAs available: Roth and traditional. A traditional IRA lets you invest in stocks, bonds, real estate, and other investments, while a Roth IRA lets you invest only in after-tax dollars. Roth IRA contributions aren't subject to tax on the amount they are received, but Roth IRA withdrawals will be. Some people choose to use a combination of these two accounts. Each type is different. There are pros and con's to each. There are pros and cons to each type of IRA. Below are three important things to keep your mind on:
Traditional IRA Pros
- Contribution options vary by company
- Employer match possible
- More than $5,000 in savings per person
- Tax-deferred tax growth until withdrawal
- There may be restrictions based upon income level
- Maximum contribution limit: $5,500 per annum (or $6,500 for married filing jointly).
- The minimum investment is 1000
- After age 70 1/2 you are required to begin mandatory distributions
- Must be at least five years old to open an IRA
- Cannot transfer assets from IRAs
Roth IRA pros
- Contributions do not attract taxes
- Earnings increase tax-free
- No minimum distributions
- Only stocks, bonds, mutual funds are available as investment options.
- There is no maximum allowed contribution
- No limitations on transferring assets between IRAs
- An IRA can only be opened by those 55 and older
You should be aware that not every company offers the same IRAs. Some companies provide the choice of a Roth IRA as well as a traditional IRA. Some will let you combine them. It is also important to note that different types IRAs will have different requirements. A Roth IRA does not have a minimum investment requirement. Traditional IRAs require a minimum of $1,000.
The Bottom Line
It is important to decide whether you want taxes now or later when you choose an IRA. If you are retiring within ten year, a traditional IRA could be the right option. If you are not able to retire within ten years, a Roth IRA may work better for you. In either case, it's a smart idea to speak with a professional about your retirement plans. It's important to have someone who is knowledgeable about the market and can suggest the best options for you.
By: Donny Gamble
Title: 7 Best Bitcoin IRA Companies 2023 (Ranked by lowest fees)
Sourced From: retirementinvestments.com/crypto/bitcoin-ira-companies/
Published Date: Thu, 19 Jan 2023 07:43:00 +0000