Cryptocurrency, such as Bitcoin, added to your investment mix provides many advantages over a traditional portfolio that typically only contains stock market assets, which are very sensitive to even the slightest economic changes.
Retirement investors will be glad to know that cryptocurrency can even be added to their IRA to also reap the benefits of its hedge protection and more simply by choosing a company to help them fund their accounts and make their acquisitions.
Or they can perform a rollover from their previous retirement plan to finance their account and make purchases. A crypto IRA also provides many of the same tax advantages as a traditional IRA, provided it is managed correctly.
However, not all cryptocurrency companies are the same, so we bring you this guide to help you find a reliable one to work with.
Best for beginners
A+ Better Business Bureau Grade
18 Cryptocurrencies available including Bitcoin, Ethereum & Litecoin
- Transparent invoicing
- Insured cold storage solution
- Fully IRS-compliant
Best overall option
Member of Forbes Finance Council
60+ Cryptocurrencies available including Bitcoin, Ethereum & Litecoin
- 100% offline asset storage
- Partnership with BitGo
- Best mobile app award
A good alternative
5 stars on Google MyBusiness
20 Cryptocurrencies available including Bitcoin, Ethereum & Litecoin
- US based customer support
- No monthly or account fees
- Military-grade cold storage
1. Bitcoin IRA
Bitcoin IRA boasts that it is a market leader and the world’s first and most trusted crypto IRA platform that enables retirement savers to invest in and sell over 60 plus digital currencies around the clock.
Current participants of a traditional IRA, SEP, 401k, and more may also be eligible to roll over their retirement funds into a Bitcoin IRA, which one of their account specialists will help you with.
The company also boasts world-class security via its partnership with BitGo, which processes more Bitcoin transactions globally than any other Bitcoin processor in the world.
Its cold storage wallets also have multi-key security for maximum protection against various points of vulnerability. They also provide custody insurance up to $700 million.
Bitcoin IRA also promises that it only works with custodians located in the United States because of the strict guidelines they are held to, thus allowing clients to benefit from yet another level of protection.
The company also states that it values customer service, which has earned them over 3,500 5-star testimonies.
Members can also open an account with just a $3,000 minimum, or they can open a Saver IRA to invest in Bitcoin for a monthly amount of $100, which covers all retirement account services.
Pros:
- A Bitcoin IRA account enables retirement investors to self-trade via an easy-to-use website app while also enjoying many of the same tax benefits of a traditional IRA.
- Members also receive financial statements during tax time.
- The company also offers a custom mobile app for android and iOS phones to enjoy the safest and best trading experience on the go.
- Their accounts also include a dashboard to track live prices, portfolio performance, and more.
- They also provide a live cryptocurrency value chart on their site.
- They also offer many resources for investors to learn about the industry and discover new opportunities.
5/5
Cons:
- Rather than providing a specific list of their costs, the company simply states there is an initial service fee for certain accounts and that there is also a custodian and security one for the secure storage of your crypto.
2. BitIRA
BitIRA promises to be one of the country’s leading specialists in the setup and management of Digital IRA accounts for clients looking to hedge their retirement portfolio against inflation and more using cryptocurrency.
They also state that their knowledgeable team is dedicated to helping new members understand the complexities of it so that people from all backgrounds can invest in digital currencies with greater confidence.
The company also has an A+ with the BBB, which it accredits to the quality service it provides, and has received various awards for its innovation.
Pros:
- Users benefit from tailored advice based on their specific goals and situation when opening a digital currency IRA with the company for the best results.
- They boast that they make it easy to open a Digital IRA with them due to their streamlined process.
- The company also has an in-house IRA Department to help clients get digital currencies in their accounts swiftly, safely, and efficiently.
- BitIRA also ensures the highest security for your digital wallet that stores your cryptocurrency, and they also use Genesis, which is the most notable digital asset security company worldwide, to conduct all transactions.
- Clients’ assets are also further protected with FDIC insurance.
- They work with Equity Trust and Preferred Trust Company custodians and more.
- They offer one of the best guide on the market called “The Essential Guide to Digital IRAs”. You can request it below.
5/5
Cons:
- The company does not list its account setup or management costs on its site. However, they state that it is because some fees vary from account to account, so you need to contact them to get a breakdown of their costs.
3. My Digital Money
My Digital Money is a crypto IRA platform that enables individuals to add digital assets, including tokens, to their IRA for a more diversified retirement plan.
The company boasts that the platform was also built by experienced investors, with the goal of making it simple to use for all.
All trading is also done under military-grade security against theft, damage, physical loss, and more via Genesis Custody, which is a global leader in digital asset security.
Some of their features include tried and proven multilayered security, segregated cold storage, nuclear bunkers, and more.
Users can also roll over their previous IRA, 401k, and more with the experienced assistance of a member of their company.
They also offer a Play Money Account so you can practice making safe, real crypto trades before actually doing it, so you are more prepared.
Pros:
- The company boasts that its team carefully researches and vets each digital coin before making it available to members to get as part of their IRAs.
- Users can also automate trades using the automatic trigger option to maximize their trades and minimize their losses and more.
- They work with Equity Trust self-directed IRA custodian company.
- All assets are insured by digital asset and vault risk insurance while held by their custodian.
- The company lists its fees on its site, which include a .9% to 1.9% platform transaction on trades, zero on a monthly level, a $50 IRA setup fee for filing, account creation, and more, and a custodial one for administration costs and more, which varies up to 1%.
- They also have U.S.-based phone support.
4.5/5
Cons:
- My Digital Money boasts that you can also put tokens as part of your crypto IRA; however, they are actually only NFT-like tokens. But they do state that they are working on enabling you to put NFTs directly as part of your IRA account.
4. iTrustCapital
iTrust Capital enables account holders to self-acquire and trade cryptocurrency any time of the day as part of their tax-advantaged IRA.
They also have a dedicated team of experts to assist you with opening and funding your account via an existing IRA, Bitcoin IRA., and more with another company. Or you can also simply open a new IRA account using cash.
A member of their team will also help you understand the basics of trading crypto with your IRA for more assurance when making your sales and investments.
The company also boasts that it is founded by leaders in the alternative investment IRA industry, so it is well-prepared to educate individuals on the future of blockchain to help them make more empowered choices.
Clients can also learn more about crypto investing on their own using the tons of support materials in their Learning Center, which include video tutorials retirement education, and more.
iTrustCapital also values security, so account holders’ assets are protected by Fireblocks and Coinbase Custody, which are leading institutional-grade storage providers.
Your digital currencies are also covered by FDIC insurance while in their care for peace of mind.
Pros:
- The company boasts that its blockchain technology provides the most transparent, liquid, and affordable way to own alternative assets in their IRA.
- Members can also get precious metals with their IRA.
- It is an experienced company with over $6 billion in transaction volume.
- iTrustCapital is continuously adding new cryptocurrencies to its list.
- They are transparent about costs, which include a zero monthly account cost and 1% on trades. There is also a $1,000 minimum to open an account.
4.5/5
Cons:
- The company doesn’t state which custodians they work with just that their Trust company is state-chartered.
5. AltoIRA
Alto’s Crypto IRA is a self-directed IRA that enables retirement investors to get, trade, and vend tokens and crypto through the Coinbase trading platform.
The cryptocurrency maintained by Coinbase benefits from various security features, including 1 to 1 institutional grade cold and hot storage, FDIC-insured accounts for cash funds, and two-factor authentication, which helps ensure the safest investments.
Using Coinbase also means you don’t have to take the extra step of setting up a wallet or deciding what exchange to use and more on your own for a hassle-free account setup.
Futur members can also roll over their current retirement plan into an Alto IRA with the helpful and knowledgeable support of the account specialists.
They can also get many of the general questions they may have about adding crypto to their IRAs via the Investor Support Center, which also includes help on account troubleshooting, and more for increased confidence when investing.
The company is also transparent about its costs, which include a zero account fee, zero custody cost, 1% on trade, $25 outbound wire transfer, and a $50 one for account closure.
There is also no account minimum or commissions. However, there is a $10 investment minimum.
Pros:
- Account holders can choose their tokens and coins via Coinbase integrations.
- Trading also occurs in real-time, 24 hours a day.
- Users also enjoy market and limit orders.
- You can also access Alto on your mobile, so you can acquire and trade assets, track and more on the go.
- Alto is also rated 4.4 out of 5 with Trustpilot based on over 1,000 satisfied members.
4.5/5
Cons:
- Alto Crypto IRA does not state which custodians they work with. However, Coinbase’s site explains that you have access to segregated cold storage for your digital assets with a qualified custodian. So it’s not clear if they are the custodian or they simply provide you with a list of custodians to choose from.
6. BlockMint
BlockMint is a leading-edge cryptocurrency trading platform that enables users to set up an IRA to safely track, get, and trade the most popular digital coins and more for less, which they boast makes them a crypto IRA for the people.
Their users also get to choose their own costs via the company’s Flex Fee Option, which gives you the option to pay a one-time amount of $79, a.5% per trade, and no monthly ones, or you can choose an annual amount of $499 with no trading commissions.
They also have a preset trigger feature that enables traders to exchange asset at their desired set values, while the stop triggers help prevent automatic purchases during spiraling markets.
The company also works with Equity Trust through Genesis, which provides maximum security of your assets in an HSM cold storage that was once a nuclear military bunker.
As your custodian, they also provide up to $600m of insurance coverage that covers theft and more. The custodian also undergoes third-party verifications and audits for added security.
In the meantime, Blockmint also promises to provide ongoing support assistance, account issues, and more via a friendly agent that is available by chat, phone, or email, so you are not online when you need help.
Pros:
- They also offer taxable accounts for non-IRA investors to acquire and exchange crypto.
- Members can also access their accounts online via their smartphones for trading and tracking their assets’ performance from anywhere.
- The company also promises to make acquiring and selling as easy as trading stock, and they also boast an easy account opening process that takes just 3 minutes.
- They also offer a practice account to help clients get familiar with getting into crypto before they actually jump in.
- Equity Trust also utilizes CTM and CESG-certified multi-signature encryption.
- The company promises that its platform is constantly evolving with new features and new crypto for maximum versatility in your retirement investment choices.
- All acquisitions are also backed by a 100% no-hassle, no-questions-asked satisfaction guarantee for safe investments.
4/5
Cons:
- They don’t offer any learning resources on their site to help members learn on their own about crypto and acquiring them as part of their IRA. However, it says that they also provide you with links to blogs, relevant articles, and more, So we’re guessing it’s after you contact the company or sign up for an account.
7. Bit Trust IRA
BitTrust IRA is an online, self-trade crypto IRA account with more than 170,000 accounts under its belt.
They also boast low costs to help make it easier for all retirement investors to get started.
It also only takes just 5 minutes to open an account, and there is also no account minimum to further make it more accessible to everyone.
The company also boasts no hidden costs and states that it provides all fees upfront, which includes a one-time account set-up amount of $50, a 5% acquisition one and 1% when selling.
They include a list of special service fees, which include a paper statement of $40 per year, a $30 wire transfer fee, a $30 Cashier’s Check cost, and more.
Members can also have access to the latest news and headlines to stay in the know about the crypto market to help them make the most informed choices for their retirement account.
Pros:
- Investors can open a crypto IRA account with cash or by rolling over or transferring the capital from their current retirement account to BitTrust’s crypto IRA.
- Account holders are provided cold storage in underground crypto bunkers with 24/7 monitored security and more for their assets.
- Your assets are also insured under the industry’s leading insurance policy for added protection.
- They partner with Equity Trust for your account management and assets storage.
- A list of Equity Trust’s costs is also included on their account setup page.
4/5
Cons:
- Their learning resources are limited to just the latest news and headlines concerning the crypto market. However, it’d be nice if they also provided information on the benefits they provide for your retirement portfolio and how to recognize scams, etc.
Conclusion on choosing a crypto IRA platform
If you are interested in purchasing Bitcoin and cryptocurrency as part of your IRA, you should have no problem beginning your search for the best Bitcoin & cryptocurrency company from this list of companies we vetted and provided to help make your quest much easier.
However, we strongly recommend you contact each company yourself to get a personal feel of their service and how well you connect with them via their agents and customer support.
They can also help answer any questions about their company or service that we may have failed to provide for more confidence in choosing your company and, certainly, before making your investments.
Don’t forget to also read through as many of their user feedback on various sites as possible to learn what each company’s strengths and weaknesses may be before fully committing to their service, which will help you avoid any surprises or disappointments later.
FAQs About Investing in Cryptocurrencies and Bitcoin with a Retirement Account
What Exactly is a Cryptocurrency IRA?
A cryptocurrency IRA is simply an individual retirement account that enables you to own digital currencies as part of its investment assets.
However, as per IRS rules, it has to be a self-directed IRA, which means you have control over which assets are held in it, including Bitcoin and other cryptos, but they must be placed into the account on your behalf by a custodian.
What Are the Benefits of a Crypto IRA?
Crypto differs from fiat currency in that it is decentralized, so it allows for more private currency transactions, which many people prefer. Hence, it is anticipated to grow in popularity over the years, thus offering the possibility of increased demand and worth in the future.
There are also many new cryptos being created every day, so there is also no shortage of digital currency, which also lends to their growth potential.
Digital currencies are also not affected by market drops, so they help diversify your portfolio. When acquired as part of a crypto IRA, they may also provide you with additional tax benefits.
Are Other Cryptocurrencies Outside of Bitcoin IRS-Compliant?
As of 2014, personal property, under IRS rules, also includes cryptocurrencies. Hence, since they can be taxed when they are converted, they qualify as alternative investments when added to your IRA.
This goes for all cryptocurrencies, including Bitcoin, provided your crypto account complies with the IRS’s guidelines for a self-directed IRA.
The custodian must also store your digital currencies in a safe digital wallet that’s not your own. Their digital wallet may or may not be insured, so be sure to ask.
Can I Roll Over My Current IRA Into A Crypto IRA?
You can roll over just about any type of IRA into a crypto IRA, including a SEP, IRA, traditional IRA, Roth IRA, or Simple IRA.
However, other retirement plans, such as a 401k, TSP, 457, and 403b, may only be eligible to roll over into a crypto IRA as long as certain circumstances apply.
Therefore, if you have an employer-sponsored plan, simply contact your chosen crypto company, and they will be able to let you know if it qualifies for a rollover and then assist you with the process if it does.
If I Already Have Cryptocurrency, Can I Transfer It Into an IRA?
In many cases, if you already own cryptocurrency in another account, your custodian can help you transfer it into a crypto IRA account, so be sure to ask.
It is also possible to transfer an existing crypto IRA into another company’s crypto IRA. Simply let the new IRA account specialist know, and they will assist you with the transfer.
What Digital Currencies Can I Add to a Crypto IRA?
There are over hundreds of cryptocurrencies that may be added to your IRA including:
- Ethereum and Ethereum Classic
- Litecoin
- Bitcoin and Bitcoin Cash
- Chainlink
- Zcash
- Maker
- Aave
- Livepeer
- Dai
- The Graph
- And more
However, your choices may be limited depending on which crypto IRA company you work with.
What Fees are Associated With such IRA?
Well, you can expect to be charged ongoing custodial fees for the management and administration of your account. However, these vary by custodian. They may also be charged yearly or monthly, depending on the custodian.
Some custodians may also charge variable ones, and you may also be charged a fee to hold different digital currency types in your account. Your custodian may also charge something to liquidate the cryptocurrencies in your IRA.
There are also usually costs for cryptocurrency trading, an account setup fee, and a yearly storage one. Most crypto IRA companies also have a minimum investment requirement. So be sure to inquire about the crypto IRA company’s and the custodian’s fees to help you choose the best of both for you.
What is the Maximum I Can Contribute to It?
Most companies have no limit on the amount of digital currencies you can get for your account.
However, if you have a crypto IRA account, the IRS limits your cash contribution to between $6,500 to $7,500 annually, depending on your age.
On the other hand, eligible retirement plan transfers and rollovers have no contribution limit.
How Do I Liquidate It?
When you are ready to receive cash for the digital currencies in your IRA, in most cases, you simply contact your account specialist, and they will liquidate them for you.
There are also typically no costs charged by the company to do so. However, if you are under the age of 59 1/2, you will be charged an early withdrawal penalty and taxes on the conversion, so keep this in mind.
Otherwise, if you are at least age 59 1/2 and are ready to start taking distributions from your account in cash, then you can do so without IRS penalties.