Review and compare the best bitcoin IRAs in 2022. Our list of best crypto IRA companies & Bitcoin IRA platforms include BitIRA, CoinIRA, BitcoinIRA, TrustCapital, and AltoIRA which help you diversify your cryptocurrency investment portfolio & digital assets.
- BitcoinIRA – Best Overall Crypto Company
- BitIRA – Most Secure Crypto IRA
- CoinIRA – Best for no maintenance fees
- ITrustCapital – Best Low Fees Company
- Alto IRA – Best No Commission Crypto IRA Platform
- BlockMint IRA – Best Cryptocurrency Self-Directed IRA
- Broad Financial RIA – No Initial Startup Fees
The Better Business Bureau accredits the BitcoinIRA platform. It offers access to invest in various digital currencies and crypto such as Ethereum, Litecoin, BTC known as Bitcoin Cash, and Zcash. The minimum investment is $3k with no limit or cap on your crypto-ira investment.
You can follow Bitcoin, gold, and leading altcoins prices and view the current value of your IRA’s holdings. There is also an “Expert Support” panel, where you can schedule a consultation with a company representative. The website also has a detailed FAQ section for new users.
The BitcoinIRA offers low fees, simplicity, and flexibility. With best-in-class security, the Bitcoin IRA manages the storage and insurance aspects for you, which is essential for protecting your investment. Its APY (annual percentage yield) on BTC and ETH is lower than average brokers.
You can open an account with this IRA in five easy steps. Start with filling in your full name, email address, and phone number. Next, you should set a secure password and can complete the registration process. From there, you can begin using your crypto IRA.
BitIRA offers several types of IRA accounts for investors new to crypto investing. To open an account, you must invest at least $5,000. The company also claims to be the first to offer insured cold storage for digital currency IRAs. All funds in a BitIRA are stored in grade 5 nuclear bunkers, making them one of the most secure digital IRA companies.
The company’s security is top-notch – your investment is kept in segregated cold storage. It is never combined or mixed with other customers‘ funds. Its service is world-class, and it supports over 35 virtual currencies. Bit-IRA offers a multi-encryption security system for investments and insurance coverage for up to $50 million.
If you’re looking for a cryptocurrency IRA platform with no maintenance fees, you may want to check out CoinIRA. The company is endorsed by independent consumer protection agencies and has an “A” rating with the Better Business Bureau. Coin IRA offers three popular digital assets, including Bitcoin, Ethereum, and Litecoin.
Although its minimum investment amount is $20,000, you can start with a smaller investment amount, starting at $3,500. The Coin IRA service charges a $50 setup fee and $195 for annual account maintenance. A monthly cryptocurrency storage fee of 0.05% applies. You can also invest in a wide range of cryptocurrencies.
iTrustCapital is a cryptocurrency investment company established in 2018 and has quickly become one of the best Bitcoin IRA companies. In November 2021, the company reported a trading volume of $3.5 billion; in July, it reported a trading volume of $2.05 billion. They have over 26,000 funded accounts and trade volumes of over $2 billion. Its reputation is solid, earning it a 4.6 TrustPilot rating.
The service requires a $1,000 minimum investment, and customers must work with a digital currency specialist to open their accounts. It allows you to trade over 60 types of crypto, including Bitcoin, Ethereum, Cardano, Litecoin, and others. If you are interested in solid precious metals, you can also use their platform to invest in gold and silver.
Alto cryptoIRA is a cryptocurrency IRA that is connected to the Coinbase platform. It has a $10 minimum investment and offers a growing list of over one hundred cryptocurrencies, plus free concierge support. Alto charges 1% of each transaction, while Coinbase charges up to 2%. The only fees associated with AltoIRA are in the form of transaction fees and account fees.
While the price tag is high for an Alto Starter account, the company offers the lowest fees among all the bitcoin IRA companies. Its account requires only $25 per month or $100 per year, plus $50-$60 for any partner investments. Other fees include an outbound wire transfer fee and $50 for account closure. This is a great deal considering the low fees and the wide variety of cryptocurrencies offered by AltoIRA.
Aside from low fees, AltoIRA also offers cryptocurrency trading and investing in startups. They partner with popular cryptocurrency exchanges, including Coinbase, and only require $10 for initial investment. Then you can use your ira money to buy and sell crypto, earning interest and avoiding the trading fees associated with traditional IRAs. Alto also offers the option of creating your deals and inviting potential investors to fund them.
The BlockMint IRA website makes it easy to transfer your existing retirement account to an account in cryptocurrencies. With the option to invest in more than one cryptocurrency, you can diversify your retirement portfolio and increase your wealth.
To open your account, you must first fill out an online application. Once approved, a BlockMint representative will contact you to help you get started and fund your account. They will also answer any questions you may have. Block Mint also offers the opportunity to transfer funds from an existing retirement account with no fees.
Broad Financial IRA
Broad Financial is a bitcoin IRA provider that provides a non-custodial website, removing the need for third-party interaction and associated fees. BroadFinancial charges an initial setup fee of $1,295. Once you’ve opened the account, you’ll be responsible for paying a yearly maintenance fee of $208. You can choose from various investments, including private stock, real estate, and precious metals. You can even control the checkbook of your crypto IRA with Broad Financial.
Broad Financial also offers a self-directed IRA LLC with checkbook control. This company creates an LLC and serves as custodian for it. Additionally, it issues capitalization checks for its IRA checking account. In addition to providing a checkbook control for its clients, it has a flat fee structure.
Which IRA is best for crypto?
A cryptocurrency IRA is a type of traditional IRA but with a unique twist. These accounts encourage long-term investment in cryptocurrencies. A crypto IRA offers many advantages over a traditional IRA, including tax benefits over cryptocurrency exchanges and brokerages and the potential for abnormally high returns.
Setup Self Directed Crypto IRA
A Self-directed cryptocurrency IRA is a new retirement account you create for yourself without the help of a financial advisor. This type of retirement account allows you to invest in various cryptocurrencies and still receive tax benefits. The fees associated with a Self-directed cryptocurrency IRA vary widely but are usually not more than 1% of the total account value.
Depending on the type of investment you’re looking for, you may be able to invest in Bitcoin, Ethereum, Litecoin, EOS, or Cardano. Some even give you the option to earn interest from your crypto holdings.
Best Crypto IRA Account
Despite IRS rules about virtual currencies being taxable, when you open a Crypto IRA account, you can invest in various cryptocurrencies in the most tax-efficient way. Unlike mutual funds, cryptocurrencies are treated as personal property and become tax-deductible. Crypto IRAs and Bitcoin IRAs are both similar in setup and functions.
Crypto IRA fees
The most common crypto IRA fees are:
- Transaction fees,
- Account setup fees
- Storage fees
- Annual account fee
- And custodial fee
These fees are often labeled differently, but they all serve the same purpose. Compared to a typical IRA custodian, a crypto IRA administrator will charge a fee for each trade made on the account. A more stable alternative for long term is IRA approved precious metals. Investing in Gold and Silver via an IRA is an excellent way to diversify your portfolio while keeping your money safe.
How Do Bitcoin IRAs Work?
In 2014, the Internal Revenue Service declared that these assets should be considered property, like stocks and bonds. Since cryptocurrencies are considered digital properties, they must be managed by a custodian and reported as such.
Many people choose to open a self directed IRA with Bitcoin and Ethereum. However, if you’re looking for a self-directed IRA with crypto, you might want to consider a cryptocurrency Roth IRA. The offline wallets are disconnected from the internet and safe from cyber-attacks.
Cryptocurrency Roth IRA
A cryptocurrency Roth IRA is an investment account in digital currencies that allows you to store your after-tax dollars for retirement. Crypto Roth IRAs allow you to make withdrawals tax-free in some cases. If you’re considering opening a Bitcoin IRA, keep in mind that the IRS doesn’t have a definitive position on this currency, so do your research before investing. You can also roll over funds from other accounts.
BitcoinIRA vs. iTrustCapital
While both platforms offer tax-deferred access to the crypto market, iTrustCapital accepts IRA transfers, Roth IRAs, SEP IRAs, and SIMPLE IRAs. It also accepts employer plan rollovers, including 401(k)s, 403(b), and 457 plans. It also offers some of the lowest fees among competitors.
Both companies are FDIC-insured, but iTrustCapital’s fees are higher than BitcoinIRA.
Alto crypto IRA vs. iTrustCapital
The differences between iTrustCapital and Alto crypto IRAs are minimal. Alto provides investors with easy-to-use crypto IRAs, while iTrust offers lower fees and a more comprehensive range of assets. Alto is one of the earliest crypto IRA firms that provides a simple user interface and charges no account fees, making it an excellent choice for anyone looking to diversify their retirement investments.
An Alternative: Coinbase IRA
Coinbase, a digital wallet service and cryptocurrency exchange, have entered the IRA arena by forming a strategic partnership with Regal Assets and Kingdom Trust. Coinbase insures crypto IRAs for up to $200 million. For investors who don’t have much experience with investing in crypto, Coinbase IRAs can be an excellent choice. Coinbase offers a free mobile app and has no minimum balance requirement. It also charges a $29 monthly fee.
Only Available to U.S. Residents
To open a Coinbase IRA account, you must be a legal U.S. resident and have a Social Security number. Once you’ve made your initial deposit, you’ll need to find a custodian to hold your cryptocurrency assets. If you’re investing more than $3,000 in your IRA, you’ll need to contact the custodian to learn more about their fees.