Bitcoin’s fate of becoming the world’s first truly digital precious asset is already sealed.
Though traditionally seen as a volatile investment option with massive price swings, time has proven this golden child has not only sustained but grown exponentially in value since its inception.
And the crypto kid is here to stay.
Bitcoin was originally conceived as a medium of exchange, but over the years, it has found more popularity as a store of value. This turns it to be a CLASSIC LONG-TERM INVESTING ASSET, especially considering its total supply will be realized by the year 2140.
90% of the total supply of Bitcoin has already been mined. However, there are still some best Bitcoin IRA companies to consider when wondering about making cryptocurrency investments for your retirement savings portfolio.
There is no limit to the number of IRAs an individual can own (though there is an annual contribution limit). Diversifying investments is always advisable and more and more people are putting some of their retirement savings into crypto.
While these are called Bitcoin IRAs, they allow you to invest in other cryptocurrencies as well as, or instead of Bitcoin, including Ethereum and Litecoin.
When looking into a cryptocurrency IRA, you need to be careful just who you let manage your individual retirement account. This is your pension pot. Expertise in cryptocurrency trading is a given, along with security, fees, and a number of other very important factors.
The Best Bitcoin IRA Companies of 2022
BEST OVERALLBitcoin IRA
Why We Chose It
Bitcoin IRA is our top overall choice because it is easy to set up, enables users to invest in 60+ cryptocurrencies, and allows investors to earn interest on their crypto asset holdings.
- Account setup only takes minutes
- Supports 60+ cryptocurrencies
- 24/7 trading online or via mobile app
- Ability to earn interest on crypto assets
- Crypto holdings are insured and held in cold storage
- Fees are not transparent
- $3,000 minimum investment
Bitcoin IRA is a market-leading crypto IRA services provider that allows U.S. residents to add crypto assets into their retirement portfolios in a secure and tax-efficient manner.
Founded in 2015, the Los Angeles-based company has enabled over 150,000 customers to add Bitcoin (BTC) and other cryptocurrencies into Traditional IRAs, Roth IRAs, SEPs, and 401(k)s.12 Additionally, Bitcoin IRA allows customers to roll over existing IRAs.
Signing up for a cryptocurrency IRA with BitcoinIRA only takes minutes, and users can trade crypto 24/7 online or using the Bitcoin IRA mobile app. The minimum investment is $3,000, and there is no maximum investment cap.
Additionally, customers can earn up to 6% interest on Bitcoin, Ether, and U.S. dollars by depositing a minimum of $10,000 in IRA Earn™ interest accounts.
Cryptocurrency held with BitcoinIRA is securely stored offline and insured, providing a high level of security for investors.
BitcoinIRA’s pricing, however, is not transparent, and fees vary on the initial deposit. New customers will only find out how much they will have to pay once they speak to a company representative during the registration process.
BEST FOR LARGE BALANCESiTrustCapital
Why We Chose It
iTrustCapital stands out for its comparatively low trading fees, which investors who actively manage their crypto retirement portfolios will appreciate.
- Relatively low trading fees
- No monthly account fees
- Low minimum investment
- Secures funds with an institutional-grade crypto custody solution
- Limited number of supported cryptocurrencies
iTrustCapital is a Los Angeles-based digital asset management company that provides cryptocurrency IRAs to U.S. investors.
Founded in 2018, iTrustCapital enables individuals to add 25+ cryptocurrencies and precious metals in a variety of retirement accounts, including Traditional IRAs, Roth IRAs, and SEP IRAs.
The company stands out for providing comparatively low trading fees (1%) and no setup fees for new IRAs. Users can buy and sell crypto assets 24/7 on an online trading dashboard, and new customers can get started with as little as $1,000.
Funds held with iTrustCapital are insured and secured using institutional-grade crypto custody solutions provided by Coinbase Custody and FireBlocks.
iTrustCapital’s transparent and competitive fee structure makes it an attractive crypto IRA provider for investors with deep pockets that want to actively manage their crypto portfolio.
BEST FOR SECURITYBitIRA
Why We Chose It
We chose BitIRA as our top pick in the security category because it holds all crypto in cold storage and provides a comprehensive, end-to-end insurance policy to protect user funds.
- High level of security
- Comprehensive insurance
- No monthly fees
- Limited number of supported cryptocurrencies
BitIRA is a digital currency IRA provider that enables Americans to place a range of crypto assets into retirement accounts, such as Traditional IRAs, Roth IRAs, and 401(k)s.
Founded in 2017, the Burbank-based IRA provider allows U.S. investors to invest in 15+ cryptocurrencies, including Bitcoin, Litecoin, and Zcash, on a tax-free basis.
BitIRA primarily stands out among its peers for placing a strong emphasis on security. In addition to holding all customers’ crypto in a highly secure cold storage setup, the company utilizes multi-encryption to encode all transactions and possesses end-to-end insurance to protect users from a variety of risks. BitIRA’s crypto retirement accounts are also compliant with Level 2 CryptoCurrency Security Standards (CCSS).
If security is high up on your list as a crypto investor, BitIRA may be the right solution for you.
BEST SELF-DIRECTEDBroad Financial
Why We Chose It
We chose Board Financial as our top pick for best self-directed crypto IRA provider because it provides customers with the most autonomy and control over their crypto investments.
- High level of control over crypto investments
- Flat-rate fee structure with no trading fees
- Enables investors to buy any cryptocurrency
- Ability to invest in a wide range of alternative assets
- Allows experienced crypto investors to self-custody
- Crypto self-custody may create a security risk for newcomers
Broad Financial provides self-directed cryptocurrency IRAs with “checkbook control,” which means customers have complete control over their crypto retirement fund.
Users can choose to trade on any exchange and use any wallet they want while benefiting from holding funds in a tax-efficient retirement account. Having said that, customers who choose to self-custody are also in charge of their own storage and security, which may be challenging to first-time crypto buyers.
Broad Financial offers a Checkbook IRA, a Self-Directed IRA, and a Solo 401(k), all of which enable U.S. investors to add crypto assets into their retirement portfolios. The company charges a one-off $1,295 startup fee and a quarterly custodial fee of $95, but no trading fees for Checkbook IRAs.
Experienced crypto investors will most likely appreciate the high degree of autonomy that Broad Financial provides by allowing customers to choose any crypto asset they want to invest in and offering a self-custody option.
If you believe in the future of Bitcoin and other cryptocurrencies and want to make this new asset class part of your retirement portfolio, Bitcoin IRAs enable you to invest in crypto for your retirement in a tax-efficient investment vehicle.
Our overall top pick among all the crypto IRA providers we analyzed is BitcoinIRA, which provides a wide range of features and an easy-to-use platform.
BitIRA stands out for having an exceptionally high level of security while Broad Financial provides customers with a high level of control over their crypto investments. Finally, iTrustCapital scores points for low fees.
|CRYPTOCURRENCY IRA PROVIDER||WHY WE CHOSE IT||KEY FEATURES|
|Bitcoin IRA||Best Overall||Supports 60+ crypto assets and enables users to earn interest|
|BitIRA||Best for Security||Exceptionally high level of security|
|Broad Financial||Best Self-Directed||High level of control over crypto investments|
|iTrustCapital||Best for Large Balances||Low trading fees and no monthly fee|
What Is a Bitcoin IRA Company?
A Bitcoin IRA company is a regulated individual retirement account (IRA) provider that enables individuals to invest in cryptocurrencies in a tax-efficient manner for their retirement.
How Does a Bitcoin IRA Work?
A Bitcoin IRA works essentially in the same manner as any other IRA with the main difference being that individuals can invest in cryptocurrencies as opposed to only traditional asset classes.
To open a Bitcoin IRA account, you will need to be a U.S. resident, possess a social security number, share the name of your employer, and provide personal information during the sign up process.
Generally, you can sign up for a Bitcoin IRA at any time and start saving in Bitcoin for your retirement. However, there are limits imposed by the IRS of how much you can invest as part of your annual IRA contributions. If you already have an IRA or a 401(k), you may also be able to roll over your funds into a Bitcoin IRA.
Bitcoin (and Crypto) IRAs can come in the form of a Traditional IRA or a Roth IRA. You can learn about the differences between traditional IRA vs. Roth IRA accounts here.
Are Bitcoin IRAs Safe?
Bitcoin IRAs are investment vehicles provided by regulated financial services providers that enable individuals to add Bitcoin into their retirement portfolios without having to deal with the complexities of securely buying and storing crypto assets.
Additionally, crypto IRA providers typically insure all user funds against a loss of funds due to fraud or hacks, which can occur in the crypto trading ecosystem. While this provides an added level of security for Bitcoin IRA holders, cryptocurrency-based IRAs are not covered by SIPC, which means investors are not protected should the IRA provider go bankrupt.
Moreover, Bitcoin IRAs are not immune from price swings in the crypto markets. Cryptocurrencies are a highly risky asset class, and the value of crypto assets could go to zero. As such, you should only add as much crypto exposure into your retirement fund as you feel comfortable with.
How Are Bitcoin IRA Companies Different From Traditional IRA Companies?
Traditional IRA providers typically offer individuals the ability to invest in stocks, bonds, mutual funds, and ETFs for their retirement planning.
Conversely, Bitcoin (and Crypto) IRAs are self-directed IRAs that enable individuals to diversify into digital assets, such as Bitcoin (BTC) and Ethereum (ETH).
How Much Bitcoin Do I Need to Retire?
How much money (Bitcoin or otherwise) you will need to retire depends entirely on you, your spending habits, and the quality of life you expect during retirement.
While some individuals could live contently knowing they have Bitcoin worth a few hundred thousand dollars in their wallets, others will likely need Bitcoin hodling in the millions to maintain the lifestyle they desire.