(Pocket-lint) – One of the most common fears regarding personal finance is not having enough money to retire. But by choosing to open an account with one of the best Bitcoin IRA companies on the market, you can save enough money to retire and may make a significant return on your investment as well.
Of course, cryptocurrency is a volatile asset.
No one can predict where the price of Bitcoin and other coins is going next. But diversification is essential when it comes to managing your assets. If you apply the right strategy, investing in cryptocurrency can help mitigate risk and potentially result in profits.
To guide you in your journey of choosing the best Bitcoin IRA company, here’s a list of the top crypto retirement account providers.
Disclosure: The owners of this content may be paid to recommend the following Bitcoin IRA companies. The content on this page, including any positive views of Bitcoin IRA, iTrustCapital, and others, may not be neutral or independent. This article does not constitute financial advice.
Best Bitcoin IRA Companies
- Bitcoin IRA: Best Overall
- iTrustCapital: Best For Low Fees
- Coin IRA: Best Customer Experience
- BitIRA: Best Account Security
- Broad Financial: Best For Account Flexibility
- BlockMint: Best For Beginners
1. Bitcoin IRA – Best Bitcoin IRA Overall
Pros:
- Largest IRA platform with a proven track record
- High security & offline asset storage
- U.S. regulated insured accounts
- Supports 60+ cryptocurrencies
- Monthly payouts with no lockout period
Cons:
- High, non-transparent fees
- Limited number of supported currencies
If you’re looking for a well-established Bitcoin IRA provider, look no further.
Founded in 2016, Bitcoin IRA is the world’s first and largest cryptocurrency IRA platform.
It has a proven track record of securing billions of dollars in crypto transactions each month. In addition, its extensive set of features, high security, and comprehensive crypto support make it the top-rated company on our list.
Features: 5/5
Bitcoin IRA makes it incredibly easy to get started on their self-directed platform. You can create an account and fund it within 3 minutes.
The interface is attractive and intuitive even for users who are not tech-savvy.
One of the most significant advantages of Bitcoin IRA is its high level of insurance. All of your assets are covered up to $100 million. Since hackers regularly target cryptocurrency platforms, you should choose a platform that will guarantee the withdrawal of your funds.
For individuals interested in other types of accounts besides traditional IRAs, Bitcoin IRA offers Roth IRAs, Bitcoin 401ks, and Saver IRAs. You can even purchase gold and further diversify your retirement account assets.
Other features include 24/7 trading, live price tracking, educational material, and more.
Users can receive monthly payouts with no lock-up period, making it convenient and straightforward to manage your account.
Fees: 3.8/5
Bitcoin IRA’s fee structure is its biggest downside.
There’s no detailed listing of fees on their website, so you’ll have to call the company to speak with a representative directly. Depending on the type of account you want to open, you’ll be charged different fees.
In addition, there is a $3000 minimum to open an account with Bitcoin IRA.
This is not exceptionally high or low for the industry.
Security: 5/5
All digital investment assets on Bitcoin IRA are stored offline in cold storage. Bitcoin IRA works with BitGo, an industry-leading custodian, to maintain possession of funds.
BitGo is a US-qualified company that processes over 20% of global Bitcoin transactions and holds around $2 billion in its wallets.
In addition, Bitcoin IRA’s web platform is secured by 256 bit encrypted SSL certification and uses multi-sig wallets.
Cryptocurrency Support: 5/5
Bitcoin IRA stands out from the rest when it comes to cryptocurrency support. The platform supports over 60 different crypto coins and tokens.
For example, you can fund your account with all the largest cryptocurrencies like Bitcoin and Ethereum, but also smaller market cap coins like Ankr, Ren, Storj, and more.
In comparison, many other leading Bitcoin IRAs only support a few of the top-ranking cryptocurrencies.
2. iTrustCapital – Low Bitcoin IRA Fees
Pros:
Cons:
- No financial advisors
- $2,500 account minimum plus $1,000 deposit
iTrustCapital is an excellent Bitcoin IRA platform that offers some of the lowest fees on the market. If you can meet the minimum account requirement, it’s a great choice due to its high level of security, well-built features, and easy-to-use platform.
Features: 4.5/5
This IRA platform offers 24/7 investing in 28 different cryptocurrencies. In addition, you can add gold and silver assets to your account on the same platform.
An area where iTrustCapital stands out is its customer support.
You can call a customer service hotline or browse a comprehensive information database. There’s also a learning hub full of cryptocurrency and personal finance educational content.
Fees: 5/5
iTrustCapital beats its competition in terms of pricing transparency. There is no monthly account fee, and the cryptocurrency transaction fee is only 1.00%. This is much lower than most competitors.
So if saving money is your primary concern, be sure to check out iTrustCapital.
Security: 5/5
By partnering with Coinbase Custody and Fireblocks, iTrustCapital offers investors institutional-grade custody services. Assets are placed offline in cold storage and are insured up to $370 million.
Cryptocurrency Support: 3.5/5
iTrustCapital currently supports 28 different cryptocurrency coins and tokens.
While this is good enough to cover most of the top coins on the market, it’s still far fewer than Bitcoin IRA’s 60+ list. Outside of the coins in the top ten ranked by market cap, you can fund your account with crypto such as Algorand, Uniswap, Chainlink, and more.
3. Coin IRA – Best Customer Experience
Pros:
- Cryptocurrency consultants available
- Multiple secure wallet options
- A+ accreditation from the Better Business Bureau
Cons:
- $20,000 minimum to open a cryptocurrency IRA account
- No fees are listed on the website
- No user interface
Most of the Bitcoin IRAs on this list are entirely self-directed.
Therefore, your personal experience will vary, and you’ll need to rely on your own decision-making to build a financially-sound account.
On the other hand, Coin IRA has dedicated advisors whose job is to guide you through the process of setting up the correct account for your needs.
Features: 3.9/5
Coin IRA differentiates itself from competitors by providing expert guidance at every step in your crypto IRA journey.
Without even signing up, you can request a free guide that contains everything you need to know about crypto retirement funds, inflation hedging, tax benefits, and more.
In addition, professional consultants will walk you through account creation and advise you on the benefits and risks of investing in cryptocurrency.
For people who may be newcomers to crypto or would benefit from professional consultation, Coin IRA is an excellent choice.
However, if you want to take control of your own account and trade at will, look elsewhere. There is no user interface or client dashboard on the website. Every transaction must be conducted through Coin IRA advisors directly.
Fees: 3/5
You’ll need at least $20,000 to open an IRA account at Coin IRA.
This is exceptionally high compared to the other options on this list. While they don’t officially publish fees on their website, independent research suggests they only charge $50 for account setup, a $195 annual maintenance fee, and .05% monthly for cryptocurrency storage.
Security: 3.5/5
The company claims to have implemented a military-grade security level that includes offline cold storage in “grade-5 nuclear bunkers” protected by armed guards.
While this is standard for managing high-value accounts, they don’t provide detailed information about the custodian. Hence, we’re unable to verify these claims.
Cryptocurrency Support – 3/5
Coin IRA only lists eight supported cryptocurrencies on their website, though they claim to support more.
While most top coins are covered, including Bitcoin, Ethereum, and Litecoin, many investors may prefer a broader range of crypto options.
4. BitIRA – Best Account Security
Pros:
- Guarded offline storage
- Dollar-to-dollar insurance coverage
- Multi-encryption transaction encoding
Cons:
- Account creation requires BitIRA staff specialist
- Non-transparent fees
- A limited number of supported cryptocurrencies
- No user interface
BitIRA takes great pride in its security measures, calling itself the “world’s most secure digital IRA.”
Since cryptocurrency is a relatively new investment asset, BitIRA wants to protect its clients against potential attacks or mismanaged funds. That’s why they have their specialists guide you through the account creation and management process.
Features: 3.5/5
BitIRA is fully IRS compliant and offers dedicated IRA specialists to assist you with account setup and maintenance.
For users who require more guidance, this is an excellent way to establish a Bitcoin IRA. However, even though it’s a self-directed IRA, the lack of a user interface or mobile app could turn away clients who wish to build their accounts themselves.
You can create different types of retirement accounts with BitIRA, including traditional IRAs, Roth IRAs, and more.
Fees: 3.5/5
There is no listed fee structure on the website. However, independent research suggests that the fees charged by BitIRA are average in terms of other Bitcoin IRAs.
In addition, the minimum account opening balance is $5,000, which is a little bit higher than some of the other options on this list.
Security: 5/5
BitIRA claims to offer the world’s first insured cold storage solution for digital currency IRAs.
You can only access your assets through multi-factor authentication, and your assets are stored offline in grade-5 nuclear bunkers. In addition to the high level of security provided by offline cold storage, BitIRA insures your account end-to-end up to $100 million.
Cryptocurrency Support – 3/5
BitIRA only lists nine supported cryptocurrencies on their website. While most of the top coins are covered, including Bitcoin, Ethereum, and Litecoin – this may not be sufficient for users who wish to hold a wider variety of cryptocurrencies.
5. Broad Financial – Most Flexible Bitcoin Roth IRA
Pros:
- You’re in control of your investments
- Use any crypto exchange or wallet
- Flat, annual fees
- No minimum deposit
Cons:
- High setup fee
- You take the risk of being the account custodian
Broad Financial’s Bitcoin IRA is a checkbook IRA. That means you have complete control over your own investments. Broad Financial doesn’t ever hold your money – only you are the custodian of your account.
This might be the ideal option for users who desire flexibility and customization above other features.
Features: 4/5
Broad Financial does not control your funds. They only act as the middleman that makes your IRA account legal. So, you can connect to any cryptocurrency exchange or crypto wallet of your choice. This gives you a multitude of options for funding your retirement account.
This cryptocurrency IRA is available as a traditional or Roth IRA. But, most importantly, you hold the key to your funds.
Since privacy and self-custodianship are core values for many people involved in cryptocurrency, this is a significant advantage.
Fees: 4.5/5
Broad Financial has a different fee structure than the other cryptocurrency IRA providers on this list. You’re charged $1,295 for the initial account setup. This is a reasonably high investment initially, but it may pay off in the long run.
After your account is set up, you only pay $208 in annual fees. After that, no matter how much your account has grown, the annual fees are still the same.
Security: 3.5/5
Since you are in control of your funds, you also bear the responsibility of protecting your account against theft or lost funds.
Once your account grows to a sizable amount, this can be a serious task. Great care must be taken to protect your private keys.
In addition, be sure to research the crypto exchange of your choice before conducting transactions to and from your wallet. The last thing you want is for your funds to go missing with no way to retrieve them. Remember, there’s no insurance backing this type of account.
Cryptocurrency Support: 5/5
With the Broad Financial Bitcoin IRA, you’re free to connect to the crypto of your choice.
No other IRA platform on this list can compete when it comes to this category. So whether you only want to fund your account with Bitcoin or micro-cap altcoins that might sky-rocket in value one day, Broad Financial’s IRA doesn’t restrict your options.
6. BlockMint – Best For Beginners
Pros:
- BlockMint advisors help choose your crypto portfolio
- Secure cold wallet storage
- Financial partnerships and expertise
Cons:
- High transaction fees
- $10,000 account minimum
- No user interface
- A limited number of supported cryptocurrencies
BlockMint tops the category for beginner-friendly Bitcoin IRA platforms.
That’s because BlockMint’s financial advisors assist in choosing your crypto portfolio and safeguard your assets offline in cold storage. So if you’re looking for a no-fuss solution where you can have peace of mind, consider BlockMint.
Features: 4/5
BlockMint is owned by Lear Capital, an investment company that is one of America’s leaders in precious metal assets.
Now that they’ve expanded into cryptocurrency as well, you can rest assured that their financial advisors have the pre-requisite experience to guide you towards the right cryptocurrency IRA decisions.
Not only do these advisors help you choose your crypto portfolio, they continue to work with you on managing your account down the line.
There is no user interface or app to set up your own account. However, this is better for beginners who prefer to have a professional oversee their account.
Fees: 3/5
BlockMint charges some hefty fees compared to other providers on this list. For starters, you must fund your account with a minimum $10,000 investment.
Then, you must pay 15% in fees to make cryptocurrency purchases. In addition, there are other fees imposed by the account custodian: a 2.5% purchase fee, a 1% sell fee, a $195 annual maintenance fee, and a 0.05% monthly storage fee.
Security: 3.5/5
BlockMint’s holdings are secured in two separate guarded vaults.
Since the assets are stored offline, the threat of online hacking attempts is significantly reduced. However, the company doesn’t make many security details available on its website, nor do they mention insurance.
Cryptocurrency Support: 3/5
Currently, BlockMint only supports 6 different cryptocurrencies. So if you plan on investing in any coins besides the most popular ones like Bitcoin and Ethereum, you should consider one of the other options on this list.
How to select the best Bitcoin IRA companies
One high priority is picking reputable cryptocurrency IRAs with considerable experience in IRA management and cryptocurrency assets.
Security was another primary consideration.
Hacking is a constant threat in digital finance, and platforms that deal in cryptocurrencies like Bitcoin are often the target of sophisticated cyber-attacks. The selected companies have state-of-the-art security measures, and their assets are covered by insurance.
Other factors were cost and additional features. While the fees vary by platform, only crypto IRAs that offered excellent services for their fee structure should be present.
Guide to choosing the best Bitcoin IRA for you
What is a Bitcoin IRA?
A Bitcoin IRA company enables you to open and maintain an individual retirement account (IRA) with cryptocurrency, particularly Bitcoin.
How do Bitcoin IRAs work?
Bitcoin IRAs allow individuals to hold Bitcoin instead of stocks or bonds in their retirement accounts. You can hold other cryptocurrencies as well, such as Ethereum, Litecoin, Ripple, and more.
When you open a Bitcoin IRA account, it operates similarly to traditional IRAs.
Most U.S. residents can open a Bitcoin IRA, and you’ll need to provide your Social Security number as well as other personal details. Depending on the brokerage, you can fund your Bitcoin IRA account by rolling over your balance from existing IRAs or other retirement accounts.
Most Bitcoin IRA companies allow you to choose between a traditional IRA or Roth IRA structure.
In traditional IRAs, your taxes are deferred until you withdraw your funds after retiring. Roth IRAs are taxed when you make your contributions, but future withdrawals are tax-free.
Is it safe to put my money in a Bitcoin IRA?
If you deposit your funds with a trusted Bitcoin IRA provider, they will provide multiple layers of security to protect your account.
Choosing a provider that stores your funds in offline cold storage is recommended. This provides the highest level of protection from hacking attempts.
However, no Bitcoin IRA provider can influence the price of your crypto assets. Since cryptocurrency is a relatively new asset, it’s considered volatile and riskier than many other assets.
Be sure to research the fundamentals of cryptocurrency and Bitcoin before investing in a Bitcoin IRA.
How are Bitcoin IRAs different from traditional IRAs?
Bitcoin IRAs allow you to hold cryptocurrencies to fund your retirement account.
Traditional IRA providers primarily invest in stocks, bonds, and mutual funds. While some conventional brokerages are beginning to offer support for crypto, it’s better to use a dedicated cryptocurrency provider.
What are the advantages of Bitcoin IRAs?
Bitcoin IRAs help mitigate risk by adding diversification to retirement portfolios.
In addition, they can maximize potential returns since cryptocurrency has a track record of volatile price action. It’s also possible that some investors in Bitcoin IRAs can avoid capital gains taxes depending on the type of retirement account.
How much Bitcoin do I need to retire?
There is no set answer to this question. Each person’s retirement requirements will be different. For one thing, your retirement target depends on your personal budget, lifestyle, and place of residence.
In addition, Bitcoin is a volatile asset, so the value of your account may fluctuate according to the market.
How do I choose the best Bitcoin IRA for my needs?
You should keep in mind two primary considerations when choosing a Bitcoin IRA: security and fees.
First, check to see how the company in question secures your funds. Do they offer insurance up to a certain value? Do they store your assets offline in physical vaults? Or do they have a dubious financial record?
Opening an IRA account should be a long-term plan, so the provider needs to be a well-established company that will continue operating well into the future.
Before signing up for a platform, be sure to search for negative news regarding the company.
Hackers recently seized over $36 million in crypto by breaching the security at IRA Financial Trust. Exploits like this can happen without notice. So if you notice anything that raises your concern, consider choosing another financial provider.
When it comes to fees, look into all of the different fees charged by the platform. There may be trading fees, administrative fees, storage fees, and other hidden fees based on your account’s size.
Choose an IRA company best suited to managing your funds according to your budget.
Notable Mentions:
- Equity Trust – An excellent platform for self-directed accounts that have the added benefit of financial advisors.
- Regal Assets – A well-reviewed company that supports the most popular cryptocurrencies and offers a convenient flat-fee structure.
Best Bitcoin IRA Companies – Final Thoughts
Putting funds in a Bitcoin IRA offers more diversification, allows you to mitigate risks, and has the potential to result in significant returns.
As more companies expand their offerings to include Bitcoin and other cryptocurrencies, it’s important to understand which companies provide the best experience and the best features for their price point.
Even though both Bitcoin IRA and iTrustCapital hold a great reputation, before signing up for one of the platforms listed above, be sure to do your own research. Explore each site and contact their customer support if you have any questions or concerns.
The best course of action is always to consult with a qualified financial advisor before making any long-term financial decisions.
Thanks for reading and best of luck!
Disclosure: The owners of this content may be paid to recommend the following Bitcoin IRA companies. The content on this page, including any positive views of Bitcoin IRA, iTrustCapital, and others, may not be neutral or independent. This article does not constitute financial advice.
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