Precious metals IRA provider Birch Gold Group founded BitIRA to meet the needs of those wishing to diversify retirement investment. The two companies combined have over a century of experience with alternative assets. BitIRA helps investors through all phases of using a Bitcoin IRA with seven digital currency options.
BitIRA’s in-house IRA department handles everything from the rollover process through helping you trade in your new account. The team assists clients with understanding cryptocurrencies and funding purchases. BitIRA implements five security layers to protect individual retirement accounts.
- Multilayer security protects IRA digital assets
- Excellent resources for learning about cryptocurrency investments
- Dedicated digital currency IRA specialists
- Broad selection of cryptocurrencies
- Works with trust custodians Equity Trust Company and Preferred Trust Company
- Pricing data on the website may be delayed and is not guaranteed
Holding digital funds in an IRA provides greater diversification for your retirement savings and tax benefits. But, you’ll need to follow IRS rules to avoid paying penalties. BitIRA’s dedicated specialists handle the entire rollover process for clients. BitIRA helps consumers decide if a cryptocurrency IRA is right for them and select the right mix of digital currency.
BitIRA representatives are always there to answer questions at each stage of your investing experience. You also get access to BitIRA U, an online resource where you learn everything about cryptocurrency. BitIRA U explains digital wallets and keys, security levels, what impacts digital currency growth and more.
How BitIRA Keeps Your Funds Safe
BitIRA says it sets the industry standard with the world’s most secure cryptocurrency IRA. We included BitIRA in our Best Bitcoin and Cryptocurrency IRAs for its five layers of protection for digital assets.
- Cold storage wallets take your funds offline when you don’t need them, so hackers can’t gain access.
- Account access requires multifactor authorization.
- Keys are held in cold storage in “grade-5 nuclear bunkers,” protected 24/7 by armed guards and technology experts.
- Assets are covered from loss, theft, damage and destruction by end-to-end, dollar-for-dollar insurance from a panel of London-based insurance companies.
- Level II CryptoCurrency Security Standards (CCSS) ensures compliance with external compliance audits.
BitIRA Digital Currency Options
BitIRA offers investments in Bitcoin and seven other digital currencies. While more cryptocurrencies exist, they are not currently among the best options for an IRA.
|Digital Currency||Investment Features|
|Bitcoin||Responsible for the cryptocurrency revolution. The most popular cryptocurrency with a high level of trading.|
|Bitcoin Cash||Created by a split from Bitcoin to follow a new protocol. One of the most-purchased digital currencies.|
|Ethereum||Part digital currency and part distributed computing platform. Excellent long-term potential. Second-highest market cap after Bitcoin.|
|Ethereum Classic||Developed after a split from Ethereum. Lower demand currently, which may present potential for long-term growth.|
|Litecoin||Exists on a high-volume, speedy network with decent volume. Appealing to new digital currency investors.|
|Zcash||Higher privacy with the option to disclose the sender, recipient and amount on the blockchain for public records or regulatory compliance.|
|Stellar Lumens||Traded on a decentralized exchange, making it a popular addition to many cryptocurrency investors’ portfolios.|
BitIRA Costs and Minimum Investment
BitIRA fees vary depending on the type of account you transfer to your cryptocurrency IRA. The setup fee is $50, and you’ll pay $195 for annual account maintenance. Storage costs are 0.05% per month.
A digital currency IRA specialist will discuss currency-specific fees before you invest. You’ll need at least $5,000 to set up a BitIRA account due to partner exchange service rules.
How to Set Up a BitIRA Retirement Investment Account
Contact BitIRA to determine if a digital currency IRA is an effective way for you to diversify retirement funds. If you decide to invest in cryptocurrency, a dedicated IRA specialist will handle all the necessary details to establish your account.
You buy and sell digital currency within the IRA. Your assets are stored in a digital wallet under BitIRA’s robust security solution. Assets are insured up to $1 million during transactions and when held in the wallet. You can speak to a cryptocurrency specialist for help choosing investments and view your portfolio online 24 hours a day.
BitIRA has an A+ rating from the Better Business Bureau. BitIRA customers give the company 5 out of 5 stars on both the Better Business Bureau and ConsumerAffairs sites. Scam Report verified the company uses responsible practices, and Benzinga rates BitIRA a 4 out of 5 stars.
Are there any penalties for moving my retirement account to a BitIRA digital currency IRA?
You pay no penalties to roll over an IRA to a BitIRA digital currency IRA. This rule also applies to Roth IRAs, SEPs and SIMPLE IRAs, but not to all 401(k) accounts.
How long does it take to create a BitIRA rollover account?
Rolling over your current retirement account to a new BitIRA account should take from one to three weeks. The amount of time required to complete the rollover has much to do with how quickly your current custodian transfers funds.
Can I hold other investments in a BitIRA retirement account?
Yes. A BitIRA account is a self-directed IRA, so you can include IRS-approved assets, like stocks, bonds, gold, real estate and more.
When does the cryptocurrency holding period begin with a BitIRA account?
The holding period begins the day after you acquire digital currency in your IRA.
Can I liquidate a BitIRA cryptocurrency IRA?
Yes. A BitIRA digital currency specialist will help you gather the information you need to make decisions about your account. However, whether you buy, sell or liquidate assets is your choice.
You may find cryptocurrency IRA providers with slightly lower fees, but BitIRA offers five security levels and $1 million of insurance coverage. You also get all the educational resources you may need until you thoroughly understand trading cryptocurrencies. BitIRA’s affiliation with Birch Gold Group gives clients access to experts who have been trading alternative assets within IRAs for decades.