Bitcoin IRA is a full-service cryptocurrency IRA provider with best-in-class services. The company provides an easy-to-use trading platform for investing in Bitcoin, Ethereum, Ripple, Litecoin and others within an IRA. Bitcoin IRA offers various digital currency IRAs, including an interest-bearing account for retirement savings. Clients directly purchase Bitcoin and other cryptocurrencies.
BitcoinIRA offers traditional and Roth IRA rollovers. Users can get started for as little as $100.
Bitcoin IRA Review
Bitcoin IRA is the world’s first and largest cryptocurrency IRA provider. Over 100,000 clients use Bitcoin IRA’s technology to invest in digital currency within a retirement account. Bitcoin IRA has processed over $1.5 Billion in transactions since 2016. Investors can buy gold alongside cryptocurrency assets.
Bitcoin IRA’s platform is easy to use and combines cutting-edge technology, excellent security and a human touch. Clients can trade 24/7, move funds to a multisignature BitGo wallet and speak directly to IRA specialists on the phone.
Pros
Extensive knowledge center with videos, e-books, webinars and more
First-class digital asset protection
Up to $700 million insurance coverage
Secure crypto IRA custodians and exchanges
Cons
Fee information not readily available
Bitcoin IRA Retirement Savings Accounts
You can set up an account with Bitcoin IRA online in three minutes, and fund transfers require just three steps. Bitcoin IRA says most accounts are fully funded and available for trading in three to five business days. If you’re rolling over an IRA, you may wait longer, depending on your current custodian’s policies.
Your Bitcoin IRA is a self-directed IRA holding cryptocurrency (and gold if you choose). You can transfer a 401(k), Roth IRA or traditional IRA to fund your account.
Bitcoin IRA Security
Investing in cryptocurrency can seem daunting because there are no physical assets or traditional cash — it’s all digital. Bitcoin IRA’s multilevel security helps resolve those concerns with 256-bit encrypted SSL certification and SOC 2 Type 2 security certification. Wallets are enhanced with multisig (P2SH) and HD (BIP32) for financial privacy.
The world’s largest on-chain bitcoin transaction provider, BitGo Trust, securely stores assets in offline segregated cold storage. Lloyd’s of London insures holdings for up to $700 million.
Account
Features
Best For
Bitcoin IRA Rollover
Seamlessly roll over funds from an existing IRA or 401(k) to fund a self-directed IRA holding digital currencies.
Diversifying your portfolio with high-risk investments with the potential for excellent returns.
Bitcoin Saver IRA
Make small, recurring monthly cash transfers and automatically invest in your choice of alternative assets.
Getting started with cryptocurrency investments cautiously and slowly.
Bitcoin IRA Retirement Investment Accounts
Bitcoin Saver IRA
One of Bitcoin IRA’s original goals was to make cryptocurrency investments available to nearly everyone. The Saver IRA does just that by allowing clients to invest in small increments, starting with a minimum of $100 per month. That said, most people should only invest in a cryptocurrency IRA after accumulating sufficient traditional IRA assets.
You make automatic monthly contributions to the Saver IRA via electronic funds transfers from a checking account. You allocate the percentage of the funds to be invested in the digital currencies you choose. The Bitcoin Saver IRA is similar to making automatic investments in a mutual fund, but you select the investment mix.
Bitcoin IRA charges three fees. The one-time service fee varies depending on your initial investment. You also pay a custodial fee, which is necessary with all IRAs. Bitcoin IRA also charges a security fee. Speak to a representative to learn about costs for the amount you plan to invest.
The initial service fee covers comprehensive IRA services to manage your cryptocurrency, including:
Rollover IRA support services
Setting up a self-directed IRA with BitGo Trust
Best-in-class security storage
We found no information differentiating costs between a regular IRA and Saver IRA. Speak to a representative to compare details and fees associated with Bitcoin IRA products.
How to Start Trading with Bitcoin IRA
Click on Get Started on the Bitcoin IRA website to complete a three-minute IRA application. You can also call to open an account. You should be trading cryptocurrency a few days after account funding is complete.
Bitcoin IRA Complaints
The Better Business Bureau gives Bitcoin IRA an A+ rating. Two complaints were filed with the BBB. One resulted from a “user error” when the client entered an incorrect bank routing number. Customer reviews on the BBB site average 3.88 out of 5 stars.
he company has over 1,500 reviews from ShopperApproved available at our time of publishing, and rated Bitcoin IRA with an average of 4.5 out of 5 stars.
Investment news site Benzinga gives Bitcoin IRA a 5 out of 5 stars. Investopedia chose Bitcoin IRA as its best overall cryptocurrency IRA provider. Retirement Investments rates the company 4.5 out of 5 stars. Google reviews yield hundreds of consumer ratings, averaging 4.7 out of 5 stars.
Bitcoin IRA FAQ
Are there any penalties to rollover funds to a Bitcoin IRA account?
There are no penalties for funding your cryptocurrency IRA by rolling over an existing qualified retirement savings account.
Do Bitcoin IRA representatives provide investment advice?
Bitcoin IRA representatives are not financial advisors. The company coordinates IRA account transactions with cryptocurrency exchanges, custodians and BitGo wallets. Representatives can assist with digital currency-related questions, but you choose your investments. Please see our Financial Advisor Guide to find a professional financial planner.
What are the details about buying gold with Bitcoin IRA?
Bitcoin IRA also offers gold IRAs. You can buy and sell gold within your retirement account 24/7 with Bitcoin IRA’s online platform. The gold IRA program cuts out the middleman to reduce costs associated with broker and storage fees.
Can I transfer cryptocurrencies I currently own into a Bitcoin IRA?
How long after creating a Bitcoin IRA account can I start trading cryptocurrencies?
You can typically start trading three to five days after funds are transferred to your account.
Conclusion
Bitcoin IRA coordinates all aspects of securely investing in cryptocurrency within a qualified retirement account. Reviews and website resources indicate Bitcoin IRA is at the top of its game educating clients about digital tax-free retirement investments. The company provides the tools and information required to diversify your retirement savings with speculative and potentially lucrative growth and income.
If you want to be financially ** with fees in your 401k Bitcoin IRA. Their fees are 2%, but watch out for their skimming off the price to fill their pockets. I will sell something and by the time you get proceeds 4% will be taken off the market price.
Anonymous A.
Hanover, AZ
September 20 2023 6:47PM
Horrible fees! Maybe this would make sense only for high net worth investors. I got fleeced on fees getting in, maintaining, and then getting out. The staff are friendly and they claim to have good security which is paramount. But it’s not good for the investor bottom line for me.
George J.
Miami, FL
April 17 2023 8:04PM
Do not invest with Bitcoin IRA. They assess exorbitant fees. Invested $1k not realizing all the fees associated with the account. The $20/month wallet fee and loss of 60% of initial investment sparked a 2.5 month process to close the account.
I had to initiate multiple three way calls to ensure the transfer of funds from Digital Trust aka Bitcoin IRA to Fidelity. I continued to be charged the $20 monthly fee which during this time. Both institutions cited inability to refund or credit the fee, despite my continued efforts to finalize the transfer.
During the required video verification call, was I informed of additional fees. A $35 wire transfer fee AND a $75 account closure fee. This is insult to injury and solidifies the need to write this review. If you like to play the "Gotcha game", they are world class champions at it.
Bitcoin IRA assesses excessive fees, creates hurdles and makes it extremely challenging to move your funds (what's left of them) to another financial institution. They will gladly welcome you in and take your money, but good luck ending the relationship with any money or patience.
Jen V.
Saint Petersburg, FL
June 15 2022 7:08PM
I had a terrible experience with Bitcoin IRA. Be very careful and read all the fine print about all kinds of fees otherwise you will lose a lot of money like I did. First monthly fees which doesn't exist with iTrustCapital and that's why I moved mine to iTrustCapital.
When I did an in-kind transfer they charged 1% of all assets and transferred the rest. They never communicated that to me when I signed up. So, all in all I lost a lot of money.
Sharmi D.
Seattle, WA
December 28 2021 8:32PM
Bitcoin IRA, very very very expensive, that why they don't tell you the fees up front. Also the fees are hidden until you buy something like crypto, which is 5% buying fees and 3% selling fee. Then there's is also a 5.99% set up fee (most companies don't charge this ridiculous fees).
Also there's a storage fee of 1% per year, also there's a variety of miscellaneous service fees. Wow, find someone else with less fees. One final thing you would think that with all these fees their customer service would be great. I here to tell you it's mediocre to non existence.
So to put it in a nutshell, Bitcoin IRA=high, high, high fees for poor customer service. I'm not sure how, they have gotten ratings that are above 1. Perhaps they are hiring someone to go in and writer them good reviews that they don't deserve. They're not the first to pull such a stunt.
William J.
Sarasota, FL
November 03 2021 12:54AM
Bitcoin IRA very bad customer service, no customer service, why? Is it this company real, please let me know, how about no customer service, they ask me to text 818 717 7176 still nobody contact me back, why? What's going on this company? How they doing business without customer service, please let me know! Fei.
