Bitcoin Advizers Review
Cryptocurrency like Bitcoin can have a place in a well-diversified retirement portfolio. If you’re not sure how to go about buying Bitcoin for your IRA, consider working with the experienced professionals at Bitcoin Advizers. Whether you’re new to the crypto space or a seasoned investor, our team is here to support you every step of the way. The company specializes in assisting individuals of all age groups with cryptocurrency IRA investments, including retirees seeking to enhance their retirement savings. We chose Bitcoin Advizers for having the best client implementation in our Bitcoin and Cryptocurrency IRA guide.
Pros
- Help with every step of setting up and funding a Bitcoin IRA
- Cryptocurrency can diversify a retirement portfolio
- Low minimum investment
- Several cryptocurrencies available
Cons
- New company, although the staff has years of experience
Bitcoin and other cryptocurrency IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.
Opening a Bitcoin Advizers Cryptocurrency IRA
Bitcoin Advizers honors its commitment to delivering exceptional service, and that starts with providing you with a dedicated account executive who will be your single point of contact. This individual is readily available to address any questions or concerns you may have, offering you the peace of mind that comes with having a reliable resource by your side.
With Bitcoin Advizers, you’ll never feel overwhelmed or left in the dark. You’ll choose whether to communicate with Bitcoin Advizers by phone, email or online and your account representative can use the method that’s most convenient for you. Setting up your cryptocurrency IRA happens in three steps.
- A Bitcoin Advizers representative walks you through every step of the IRA setup. You will discuss whether funding your IRA directly or via a rollover is the best option. Either transaction is free of tax penalties. You will also learn about custodial options for your IRA.
- Bitcoin Advizers will tell you when your IRA funds are available to purchase cryptocurrency. To buy or sell, get in touch with your account executive to lock in your price and complete the trade. Currently, you have a choice of six cryptocurrencies.
- Your assets are transmitted to your IRA custodian and securely stored. Investments grow tax-free in a cryptocurrency IRA, and you’ll see regular reports so you can keep up with your holdings.
Company specialists strive to provide account support to manage your cryptocurrency, from ongoing monitoring to portfolio analysis. Though newer to the space, Bitcoin Advizers remains at the forefront as the industry evolves, leveraging their expertise and market insights to help you capitalize on opportunities to diversify your investment portfolio and build a more secure future. Its investment professionals stay updated with the latest trends and developments, ensuring that the strategies are tailored to meet your specific goals and risk tolerance.
| Crypto- currency | Current Value* (USD) | 1 Year Change | 5 Year Change |
|---|---|---|---|
| Bitcoin | $10,037.22 | 56.17% | 2,380.92% |
| Bitcoin Cash | $312.19 | -38.75% | 873.61% |
| Litecoin | $73.23 | 34.70% | 1,610.19% |
| Ethereum | $217.22 | 3.09% | 4,876.09% |
| Ethereum Classic | $6.12 | -43.29% | 520.08% |
| XRP | $0.2895 | -19.16% | 973.46% |
Valuation Changes
*Value as of September 21, 2019
Cryptocurrency You Can Buy with Bitcoin Advizers
Bitcoin Advizers can help you purchase several types of cryptocurrency for your IRA. All coins are bought and sold using blockchain technology. This technology is a public ledger for all transactions, and it can’t be changed. Your Bitcoin Advizers representative will get to know your risk tolerance level and financial situation. Then you’ll get a recommendation for purchasing digital currencies.
Traditional Accounts
BITCOIN: Introduced in 2009 by Satoshi Nakamoto, is the original and most well-known cryptocurrency. Bitcoin, like other cryptocurrencies, is powered by blockchain technology. The blockchain is an unchangeable public ledger recording the transactions of all users.
BITCOIN CASH: An offshoot of Bitcoin. As Bitcoin matured, a bottleneck began to form creating delays in processing that many in the crypto community thought could be alleviated by forking the code, expanding on-chain ledger performance capacity and processing speed.
ETHEREUM: Ether is the name of a token created on the Switzerland-based Ethereum network. Ethereum is both a global infrastructure that can be used for the creation of new markets as well as a cryptocurrency.
ETHEREUM CLASSIC: Ethereum is an open-source cryptocurrency that implements smart contracts as a way to exchange tokens. Ethereum Classic, like Bitcoin Cash, is the result of a fork in the original Ethereum code.
LINK: Linkcrypto Finance’s encrypted financial solutions integrate financial service functions such as cryptocurrency payment, custody, transaction, wealth management, and lending.
BAT: An Ethereum token that powers Brave Software’s blockchain-based digital advertising platform.
AAVE: A decentralized lending system that allows users to lend, borrow and earn interest on crypto assets, all without middlemen. Running on the Ethereum blockchain, Aave instead is a system of smart contracts that enables these assets to be managed by a distributed network of computers running its software.
TEZOS (XTZ): blockchain network linked to a digital token, which is called a tez or a tezzie. Tezos is not based on the mining of tez. Instead, token holders receive a reward for taking part in the proof-of-stake consensus mechanism.
STELLAR: A decentralized protocol on open-source code to transfer digital currency to fiat money domestically and across borders. Stellar is one of the best-performing altcoins of the last five years with a market cap of just over $1 billion.
CARDANO: Similar to other cryptocurrencies, ADA – Cardano is a digital coin that can be used to store value or send and receive funds. The cardano blockchain can be used to build smart contracts, and in turn, create decentralized applications and protocols.
DOGECOIN: A cryptocurrency that runs on blockchain technology, similarly to Bitcoin and Ethereum. Blockchain is a distributed, secure digital ledger that stores all transactions made using a decentralized digital currency.
EOS: The powerhouse behind its blockchain platform and protocol, EOS.IO. The platform itself is a decentralized system that enables the development, hosting, and execution of commercial-scale decentralized applications (dapps), which it aims to make both easy to use and scalable.
YEARN.FINANCE: A tool that anyone can use to automate their investment allocation to a crypto savings scheme with the highest interest rate.
POLKADOT: Provides transactional scalability by spreading transactions across multiple parallel blockchains. Easy blockchain innovation Create a custom blockchain in minutes using the Substrate framework.
UNISWAP: A popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens. An example of an automated market maker (AMM).
COSMOS: A protocol that supports something called “blockchain interoperability,” which makes it possible for different blockchains to communicate with each other. Cosmos aims to link up many crypto networks with open-source tools that allow for cross-chain transactions.
SOLANA: Designed to work similarly to and improve upon Ethereum. Named after a small Southern Californian coastal city, Solana is the brainchild of software developer Anatoly Yakovenko.
NEO (formerly Antshares): An open-source decentralized blockchain decentralized application platform founded in 2014 by Da HongFei and Erik Zhang. Since its rebranding to Neo from Antshares in 2017, the project’s vision is to realize a “smart economy” by utilizing blockchain technology and smart contracts to issue and manage digitized assets.
Platinum Managed Account
LITECOIN: Meant to be the “silver” to Bitcoin’s “gold,” Litecoin was introduced in 2011 by Charlie Lee. Litecoin was designed to be faster and more accessible than Bitcoin. Litecoin was introduced with simpler algorithms, allowing even ordinary computers to be used for the mining process.
DASH: An open-source cryptocurrency. It is an altcoin that was forked from the Bitcoin protocol. It is also a decentralized autonomous organization (DAO) run by a subset of its users, which are called “masternodes”.
ICON: Blockchain network facilitates the connection and interaction of various other blockchain software programs through the ICON network.
MAKER: An Ethereum-based DeFi lending platform founded by Rune Christensen, that allows users to lock ETH into smart contracts to mint Maker’s Dai stablecoin.
MONERO: Uses a public distributed ledger with privacy-enhancing technologies that obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading monero, transaction amounts, address balances, or transaction histories.
Bitcoin Advizers Costs
Account setup fees consist of a one-time $550 payment for account setup and enrollment. Bitcoin Advizers does not receive all of this fee. Part of the amount goes to the IRS-approved account custodian, Equity Trust. Transaction fees vary, so discuss this with the advisor before establishing an account. Storage and maintenance fees for your cryptocurrency IRA are $195 annually plus $20 per month, and 0.07% on the IRA balance.
Bitcoin Advizers Complaints
Bitcoin Advizers is a very new company, although the company’s Chief Investment Officer, Chris Mitchell, has transacted over $3 billion in cryptocurrency IRAs over the past decade. The company is accredited by the Better Business Bureau and maintains an A+ rating with no complaints on record.
Bitcoin Advizers Q&A
- What retirement accounts can I roll over into a Bitcoin Advizers IRA?
Bitcoin Advizers will help you roll over these types of retirement accounts into a cryptocurrency IRA: Roth IRA, traditional IRA, SEP IRA. You can also transfer a portion of funds from these accounts to a cryptocurrency IRA. Other retirement accounts, such as a 401(k), 403b, 457, Thrift Savings Plan and TIAA CREF plans usually rollover with no tax consequences. Your account representative at Bitcoin Advizers can confirm a transfer or rollover is free of penalties or taxes.
- Can I invest in more than one cryptocurrency in an IRA with Bitcoin Advizers?
You can split up your investment any way you wish, or buy a single coin. You must invest at least $20,000 in a Bitcoin Advizers cryptocurrency IRA.
- I already own cryptocurrency. Can I fund my Bitcoin Advizers IRA with it?
No, you can’t fund an IRA with cryptocurrency you own. The regulations governing IRAs require a transfer or rollover from an eligible retirement account.
- Is it a hassle to liquidate a cryptocurrency IRA held with Bitcoin Advizers?
Liquidating your IRA only requires calling your Bitcoin Advizers account executive, who handles these transactions over the phone.
- What type of investment is a Bitcoin Advizers cryptocurrency IRA?
Cryptocurrency is considered a speculative investment with the potential for significant price fluctuations. However, digital currency is here to stay. Bitcoin Advizers recommend you use cryptocurrency for a portion of a retirement portfolio to diversify your investments.
Conclusion
Bitcoin Advizers’ mission is to help clients buy cryptocurrency to grow and protect their wealth. The company guides individuals through each step of setting up a cryptocurrency IRA and choosing investments. Bitcoin Advizers staff hold over a decade of experience in what is currently considered alternative markets, but will likely become the norm. Bitcoin Advizers representatives meet customers at their comfort level and are happy to explain all you need to know.