Coin IRA Review
Coin IRA is a full-service digital currency IRA provider. The company simplifies cryptocurrency IRAs with an easy account setup and activation process. Fund your account, then tell an IRA specialist how you want to execute trades. Coin IRA stores your Bitcoin, Ripple, Litecoin and other virtual currency in your choice of wallets.
Coin IRA is a subsidiary of Goldco, a respected gold and silver IRA provider. The professionals at Goldco have managed thousands of retirement accounts holding alternative assets. The company lends its expertise to Coin IRA to meet the demand for cryptocurrency investments.
- Multiple storage options
- Low fees
- Highly specialized IRA consultants
- Weekend hours by appointment
- No fees disclosed on website
- Website lists only some available cryptocurrency
Coin IRA Services
Coin IRA offers an easy way to establish self-directed IRAs holding cryptocurrencies. Opening a cryptocurrency IRA is an excellent way to diversify your retirement portfolio with a portion of your savings. Coin IRA gives you the option of investing pretax dollars in a traditional IRA or post-tax dollars in a Roth IRA. Either cryptocurrency IRA allows gains to grow tax-free.
Coin IRA is the only company from our best cryptocurrency IRA companies that offers cryptocurrency trading outside of an IRA. Digital currency consultants execute live trades, then move digital currency to a secure wallet. You can ask Coin IRA consultants any questions about Bitcoin, Ethereum, Litecoin, XRP or other virtual currency.
Coin IRA Security
Security is a concern for cryptocurrency investors because the values change frequently and there’s no U.S. government backing. However, Coin IRA takes several measures to ensure your retirement savings stay safe. Your personal consultant will explain Coin IRA’s choices for creating a security plan you feel comfortable with.
|Coin IRA Security for Cryptocurrency IRAs|
|– Hard wallet: KeepKey, Ledger or Trezor
– Online exchange wallet
– Software wallet
|– Encrypted key backups in a secondary location||– Recorded ID confirmation verifies transactions
– Trades performed with client on the phone
Coin IRA Costs
Coin IRA does not publish fees on its website. An online review says Coin IRA’s annual costs are from $175 to $225. We found an $80 yearly maintenance fee and $100 fee per year for annual storage. You’ll pay $50 to get your account set up. Speak to a representative to clarify costs.
Coin IRA’s minimum investment is $25,000 for a retirement account with tax benefits. You’ll need at least $3,500 to fund a non-IRA cash account to trade cryptocurrency.
How to Open a Coin IRA Account
Call the number on the Coin IRA website to speak to a specialist about opening a cryptocurrency IRA. You can also use a form available on the site to get a free cryptocurrency IRA guide. However, we used the form and had to provide a phone number and email address. The result was an email saying a specialist would contact us, and then we would receive the guide.
Coin IRA Complaints
Both Coin IRA and its parent company, Goldco, hold an A+ rating with the Better Business Bureau. ConsumerAffairs recommends considering Coin IRA because it offers free consultations before you commit to investing. Gold IRA Guide rates Coin IRA 4 out of 5 stars, noting it lacks cost information on its site.
RetirementInvestments gives the company a 5-star review, but the details look dated. Some reviews point out a high Trustpilot score, but we found no Coin IRA rating. Goldco has a high Trustpilot score, but this doesn’t necessarily translate to its subsidiary. We found no Coin IRA complaints online.
Coin IRA Q&A
Does a Coin IRA account follow the minimum distribution rules for other IRAs?
You can’t get around the required minimum distributions with Coin IRA. The accounts must follow the same regulations that apply to all other IRAs.
What drives the value of a Coin IRA account?
Demand for cryptocurrencies will increase as it becomes more widely adopted. Many digital currencies have a fixed supply, so the price should increase with demand. Retirement investors can take advantage of the gains Coin IRA can provide.
How does investing with Coin IRA compare to a gold IRA?
Cryptocurrency IRAs and gold IRAs can provide a hedge against inflation and devalued standard currencies. Digital currency and precious metals values can change rapidly, but cryptocurrency has the potential for greater appreciation as its use increases.
Can I fund a Coin IRA account with a rollover?
Yes. Most investors choose to create an IRA rollover to fund a digital currency IRA. A Coin IRA specialist oversees the rollover process to ensure everything goes smoothly and you’re not subject to IRS penalties.
Does Coin IRA insure holdings in a cryptocurrency IRA?
Custodians provide insurance for digital assets. IRS regulations require a custodial company to manage all types of IRAs. Coin IRA says it works with various custodians, so ask your consultant about your options. Then discuss insurance with your choice of custodian.
Coin IRA provides a bridge between you and the digital wallets, exchanges and IRA custodians necessary for an IRA. Cryptocurrency IRA experts offer excellent customer service to create that bridge. Coin IRA provides more options than much of the competition for customizing the security layers protecting your retirement assets.