Cryptocurrencies have had difficulty seeing mainstream adoption for many years since Bitcoin was launched. This is because mainstream institutions such as banks and regulatory bodies consider them illegal inventions.
However, the trend has started to change because many banks now offer cryptocurrencies as investment options. Even more, those planning to retire can invest in Bitcoin in their retirement account.
Bitcoin IRA is a platform that makes this possible. Are you considering investing in Bitcoin for your retirement? If yes, then this article is for you. Read on to learn how BitcoinIRA works and how you can invest it for retirement.
Inside this review
About Bitcoin IRA
Bitcoin IRA is a service to help Americans retire well through a Bitcoin investment scheme. It is the first to make investing in Bitcoin as seamless as possible. The service was launched in 2015 by three experts in finance, business administration, and marketing.
Apart from being the first crypto IRA platform, Bitcoin IRA is also currently the largest crypto IRA platform, with over 150,000 users. You can buy and sell more than 60 cryptocurrencies in your IRA without any hitches.
The platform is registered with FinCEN in the US, which gives it regulatory backing. Apart from Bitcoin IRA accounts, there are also Bitcoin 401k, Bitcoin Roth IRAServer IRA, and cryptocurrencies.
Is it safe?
Bitcoin IRA claims to have security as a priority to protect its customers' investments. It, therefore, has the following measures in place to win the confidence of its customers.
Insurance
Bitcoin IRA has $100 million custody insurance from top crypto custodial services provider, BitGo.
Cold storage
Bitcoin IRA stores 100% of customers’ funds offline in cold wallets. This significantly reduces the chances of the funds being stolen. In addition, the funds are further secured by SOC 1 + SOC2, Type I & II security certifications, in the multi-signature cold wallet.
2FA
Two-factor authentication confers an additional layer of security on a wallet. Bitcoin IRA made this available so customers can use the feature to secure their accounts further.
Encryption
Bitcoin IRA is further secured using high-level encryption from Cloudflare, the leading DDoS mitigation company.
What you can invest in
There are two options for investing in Bitcoin IRA: crypto and gold.
Crypto
There are over 60 cryptocurrencies for your IRA or any other account. Apart from Bitcoin, available assets include Ethereum, Dogecoin, Solana, and many others.
Gold
If you are not comfortable investing in cryptocurrencies, probably because of their volatile nature, Bitcoin IRA has an option for investing in physical gold. You can buy and sell gold faster, easier, and in a more secure environment.
How it works
It is easy to use Bitcoin IRA. First, you must create an account with your name, phone number, email, and password. You can then fund your account and buy Bitcoin for your IRA account. Upon creating your account, you’ll have a customized dashboard and digital wallet and can access live pricing and learn more with the educational platform.
Your account will be ready in 3-5 business days, after which you can start trading immediately with 24-hour access all week.
Who is it designed for?
Bitcoin IRA is a platform designed to help Americans incorporate crypto into their retirement accounts.
The platform is available to all IRA rollovers, Roth, SEP, employer plan 401(k)s, and new or existing traditional IRAs.
Fees
The platform charges three fees: a custodian fee, a security fee, and a one-time service fee. The fees are, however, peculiar to each user, so you’ll have to contact a representative to get specific figures you have to pay.
Pros and cons
Pros
- You can get set up in minutes. Designed for users of all levels.
- Highly secure platform. $100 million custody insurance from Bitgo.
- Offers a variety of assets, including silver. Help diversify your retirement planning.
Cons
- Fees are high. Good service and security come at a price.
- Only available to American investors.
Alternatives
BitcoinIRA has a solid reputation, but there are several other established crytpo IRA providers.
- iTrustCapital. A crypto IRA platform for both beginners and experienced investors. Boasts of high expertise and the best rate fees.
- Coin IRA. An easy-to-use platform that provides step-by-step guidance through signup and onboarding. It charges no annual or monthly maintenance fees or custody fees for holding investors’ digital assets.
- BitIRA. BitIRA offers a Bitcoin IRA that provides high security with dollar-to-dollar insurance for the nine digital assets it supports. It offers secure transactions and storage, making it the most secure crypto IRA.
- Equity Trust. The oldest crypto IRA, Equity Trust, has been around since 1974, managing self-directed IRAs. This makes it very experienced in managing IRAs, even before cryptocurrencies came. In addition, the platform offers both traditional and alternative investments with no transaction fees.
- Regal Assets. This crypto IRA allows investors to invest in hard digital assets, including all popular cryptocurrencies, giving investors the best investment variety.
