7 Best Bitcoin IRA Companies 2023 (Ranked by lowest fees)

Crypto IRA reviews reveal the best and most reliable crypto IRA companies. We chose these companies based on lowest fees, customer reviews, leadership team, and transparency.

Market volatility and the increasing popularity of cryptocurrencies have many investors wondering how they might include crypto in their retirement portfolios.

Because the IRS classifies digital assets as property investments, you can use them in individual retirement accounts (IRAs) through certain IRA providers.

These seven Bitcoin IRA companies are the best choices to help you protect and diversify your retirement portfolio.

Top 7 Best Bitcoin IRA Companies

1. Bitcoin IRA – Editors’ choice
2. iTrustCapital – Lowest fees
3. BitIRA – Best crypto storage
4. My Digital Money – Best customer support
5. Alto IRA – Best for alternative assets
6. Coin IRA – Best for non-IRA accounts
7. Choice App – Best rated app

Methodology

We thoroughly researched dozens of available crypto IRAs and chose seven based on their fees, promotions, length of time in business and leadership. We also looked at verified third-party Bitcoin IRA reviews to ensure our selected companies provide the services as advertised.

Crypto IRA Reviews

These are the seven best crypto IRAs available (and which market they are best for).

Bitcoin IRA – Editors’ Choice

Chris Kline, Johanne Haze, and Camilo Concha founded Bitcoin IRA in 2015 to provide a way for investors to control their futures and invest in a growing asset class without the intermediary of a mutual or exchange-traded fund.

Company Highlights

• Location: Los Angeles, CA
• Services: Bitcoin IRA, Bitcoin 401(k), Bitcoin Roth IRA and Saver IRA
• Available Coins: 60+ cryptocurrencies
• BBB Rating: A+
• Account Minimum: If you want to roll over from another account, the minimum is $3,000. If you want to deposit cash, the minimum is only $100, but it requires a recurring monthly contribution.

Fees:

• Setup Fee: 5.99% of your initial deposit
• Trading Fee: 2% per transaction
• Management Fee: 0.08% of your account value monthly

Why we chose Bitcoin IRA: Bitcoin IRA is the most secure and experienced provider on this list. Its early entry into the business gives it a unique perspective that most other companies cannot match. This, combined with its vast array of excellent offerings, puts the provider at the top of our list.

Promotion: Custodial setup fee waived for a limited time ($150 value)

iTrustCapital – Lowest Fees

iTrustCapital has more than four years’ experience and has handled more than $6 billion in transactions. A highly-experienced team of business and security experts committed to protecting and working for their investors lead the company.

Company Highlights

• Location: Irvine, CA
• Services: Crypto IRA and Precious Metals IRA
• Available Services: 30+ cryptocurrencies, physical gold and silver
• Investment Minimum: $1,000

Fees:

• Cryptocurrency Trades: 1% per transaction
• Physical Gold: $50 over spot per ounce
• Physical Silver: $2.50 over spot per ounce

Why we chose iTrustCapital: iTrustCapital has a highly transparent and consumer-focused fee structure. The company also has excellent rates and fees and provides customers with top-notch information to make the best possible decisions.

Promotion: $100 reward when you fund your account

BitIRA – Best Crypto Storage

Jeremy Warner founded BitIRA to create a secure, accessible way for investors to grow tax-deferred crypto investments. Since then, the company has gained a reputation for its secure storage methods and hundreds of positive customer reviews.

Company Highlights

• Location: Burbank, CA
• Services: Crypto IRA
• Available Coins: 18+ cryptocurrencies
• BBB Rating: A+
• Investment Minimum: $5,000

Fees:

• One-Time Setup Fee: $50
• Maintenance Fee: Ranges from $300 to $1,000 per year, depending on the amount in the account

Why we chose BitIRA: BitIRA is one of the most secure cryptocurrency IRAs available. The company uses a combination of cold storage (offline storage) that is more secure than any other crypto wallet and private keys.

Promotion: Free Ledger for new customers

My Digital Money – Best Customer Support

My Digital Money is a recently established cryptocurrency IRA company that aims to combat increasingly concerning high inflation rates.

It wants to create a more accessible version of crypto investing for less experienced investors and has found its footing among the best crypto IRA companies.

Company Highlights

• Location: Pasadena, CA
• Services: Crypto IRA
• Available Coins: 18+ cryptocurrencies
• Fees: 2.9% per trade
• Investment Minimum: $1,000

Why we chose My Digital Money: My Digital Money has top-notch security, customer support and insurance. Though its trading fees are slightly higher than other options, it more than makes up for it in the security and promise you’ll have with your investment.

Promotion: $50 or a free NFT to new qualified accounts

Alto IRA – Best for Alternative Assets

Founded in 2015, Alto IRA aims to level the playing field between large-scale wealthy investors and the average American. The Alto IRA can contain a variety of alternative investments, including collectibles and other property assets.

You can use almost anything approved by the IRS in your self-directed IRA from Alto.

Company Highlights

• Location: Nashville, TN
• Services: Alto IRA and Crypto IRA
• Available Assets: 200+ cryptocurrencies, art, real estate, private equity and farmland
• Fees: Flat rate of $10/month or $100/year
• Investment Minimum: The minimum amount to open an account with Alto varies by investment type. The Crypto IRA requires a minimum of $10

Why we chose Alto IRA: There are very few investment companies that will allow you to invest in as wide a variety of assets as Alto. The company also offers excellent security and storage options and reasonable rates. Alto IRAs have very low investment minimums, making them accessible to the average investor.

Coin IRA – Best for Non-IRA Accounts

Your retirement investment is likely one of your most valuable assets. Coin IRA knows this, so it has set out to ensure that all investors are fully aware of the risks and rewards of cryptocurrency investing with retirement funds.

Company Highlights

• Location: Woodland Hills, CA
• Services: Crypto IRA
• Available Assets: 20+ cryptocurrencies
• BBB Rating: A+
• Fees: 1.25% on buy trades and 1% on sell trades
• Investment Minimum: $20,000

Why we chose Coin IRA: We chose Coin IRA for its customer support options. If you are a new or reluctant investors, Coin IRA will ensure you’re totally comfortable before putting any money down. While they allow fewer types of cryptocurrency, they ensure the cryptos on their platform meet their high standards.

Choice App – Best Rated App

Kingdom Trust runs Choice App and is committed to protecting consumers and allowing average, everyday investors to access crypto investing.

Company Highlights

• Location: Murray, KY
• Services: Crypto Roth IRAs, Traditional IRAs, and SEP IRAs.
• Available Assets: Cryptocurrencies
• Investment Minimum: No minimum

Fees:

• $0.005 per share, with a $1 minimum per trade
• 1% annual fee

Why we chose Choice App: Choice App has low rates — making the company a great choice for those closer to retirement — and offers excellent security and a quality insurance policy to protect investors. Combined with no minimum investment, this means it is a great choice for new investors.

Crypto IRA Guide

Before investing in a crypto IRA, here are a fee important things you should look for when making your decision:

• Look for crypto IRAs that meet your preferences. They should include the coins you want to invest in and have a fee structure that works for you.
• If you plan to let your investment sit, choose a crypto IRA with a high trade fee and low maintenance fee. Choose the opposite if you plan to trade frequently.

Understanding Bitcoin IRAs

IRAs allow people to invest in conventional investment options such as stocks, securities and bonds, while Bitcoin IRAs allow investors to put money into cryptocurrencies.

Per IRS regulations, investors need custodial management to reap the tax benefits of an IRA, and many crypto IRA companies have arisen to meet this demand.

Benefits of Bitcoin IRAs

Portfolio diversification: It can be difficult to represent digital currency in your retirement portfolio without having a crypto IRA, so opening one offers a unique kind of diversification you can’t get elsewhere.

Tax advantages: Cryptocurrency investing in a retirement account is one of the only ways to trade cryptocurrency while avoiding double taxation. You will either pay capital gains tax or income tax but not both.

Decentralization: No central location is running cryptos, which gives you added security.

Capital appreciation: Cryptocurrencies can rise in value much faster than other assets.

Security: Blockchain applications such as crypto are uniquely secure types of investments.

Risks of Bitcoin IRAs

Price volatility: The value of a cryptocurrency investment is largely based on speculation, so prices are highly volatile.

Account and trading fees: Because of additional secure storage requirements and the nature of digital currency, fees and costs for a crypto IRA are higher than most other types of accounts.

Complexity: The complexity of digital assets often requires the expertise of digital currency specialists.

High risk: The value of crypto depends on speculation and a coin’s perceived future value, making them highly volatile and subject to extreme fluctuations.

Crypto IRA Fees & Costs

These are the costs you can expect with a crypto IRA:

Account setup fees: Many accounts offer no setup fees on new accounts, but if they exist, they are often under $100 or 5%.

Storage fees: Crypto uses complex storage options, so some crypto IRAs will charge small storage rates. These are typically a small percentage of your total investment.

Account maintenance fees: Some accounts charge maintenance fees. These might be flat-rate fees of several hundred dollars or a 0.1-5% annual charge.

Trading fees: Trading fees are typically a percentage of each trade you make and can vary from 1-5%.

Bitcoin IRA Storage Options

Cold storage: Cold storage refers to offline storage. Because it is not connected to any public network, it is less “hackable” than other secure storage options.

Third-party crypto exchange: This storage utilizes distributed users and blockchain applications to create a highly secure storage place for your investment.

Popular Cryptos to Put in Your IRA

These are some of the most popular cryptocurrencies to include in your retirement planning:

1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Cardano (ADA)
4. Polygon (MATIC)
5. Solana (SOL)

How to Pick The Right Crypto IRA Company

Choosing the best cryptocurrency IRA company depends on what you’re looking for from your crypto investments. If you want to trade frequently, look for accounts with low trading fees.

If you’re close to retirement, avoid accounts with hefty setup fees that will take a cut larger than you will be able to redress.

How to Open a Bitcoin IRA Account

1. Choose your crypto IRA dealer.
2. Check their eligibility requirements and investment minimums.
3. Open an account.
4. Speak to a crypto IRA specialist.
5. Decide how you will invest.
6. Begin the rollover process from an existing IRA, or fund your account with cash.
7. Select the cryptocurrencies you would like to invest in.
8. Trade your crypto inside your IRA, or sit back and watch your assets grow tax-free.

Which Crypto IRA Company is Right for You?

The right cryptocurrency IRA company depends on your individual needs and investment plan. All companies on this list will provide you with excellent services.

Choosing between them is up to you and your financial advisor and depends on the amount you plan to invest, the coins you intend to buy and your risk tolerance.

Bitcoin IRA FAQs

These are the most commonly asked questions about opening a crypto IRA.

Frequently Asked Questions

What are the different types of IRA?

There are three basic types of IRAs. Each type of IRA has its pros and cons. Each of these types will be described below.

Traditional Individual Retirement Account (IRA).

Traditional IRAs allow you to make pretax contributions to an account that allows you to defer taxes while still earning interest. The account can be withdrawn tax-free once you are retired.

Roth IRA

Roth IRAs allow you to deposit after-tax dollars into an account. This allows earnings to grow tax-free. Withdrawals from the account are also tax-free when you withdraw funds for retirement purposes.

SEP IRA

This is similar to a Roth IRA but requires additional contributions from employees. The additional contributions are subject to tax, but earnings accrue tax-deferred. When you leave your company, you may convert the entire amount into a Roth IRA.

Which is stronger: 14k gold or sterling silver?

Both gold and silver make strong metals. Sterling silver is more affordable than sterling silver which has only 24% pure silver.

Sterling silver, also known as fine or sterling silver, is made of a combination of silver and other metals like copper and zinc.

The strength of gold is generally very high. It takes tremendous pressure to split it apart. If you dropped an object on top to a gold piece, it would shatter into thousands rather than breaking into two halves.

On the other hand, silver is not nearly as strong as gold. If you dropped an item onto a sheet of silver, it would probably bend and fold without shattering.

Silver is often used in jewelry and coins. The price of silver can fluctuate according to supply and demande.

Is it possible to take physical ownership of gold from my IRA

Many people ask themselves whether it is possible to physically own gold in an IRA. This is a fair question because there isn’t any legal way to do it.

If you take a closer look at the law, there is nothing that can stop you from having gold in your IRA.

The problem is that most people don’t realize how much money they could save by putting their gold in an IRA instead of keeping it in their own homes.

It is easy to toss gold coins, but it’s not easy to place them in an IRA. You’ll have to pay twice taxes if you keep your gold in your home. One for the IRS, and one for your state.

You can also lose your gold and have to pay twice the taxes. So why would anyone want to keep their gold in their home?

It might seem that you want the security of knowing your gold is safe inside your home. You can protect your gold from theft by storing it somewhere more secure.

If you are planning to visit frequently, your gold should not be left at home. Theft can easily take your gold when you’re not home.

A better option is to store your gold in an insured vault. Your gold will be safe from fire, flood and earthquake as well as robbery.

You won’t be responsible for paying any property tax if you store your gold in a vault. You will have to pay income taxes on any gains from the sale of your gold.

An IRA is a way to avoid paying taxes on gold. An IRA allows you to keep your gold free from income taxes, even though it earns interest.

Capital gains tax is not a requirement for gold investments. You can cash out your entire investment anytime you wish.

Federally regulated IRAs mean that you won’t face any difficulties in transferring your gold to another bank if it moves.

The bottom line is that you can own gold in your IRA. The only thing holding you back is your fear of having it stolen.

Statistics

• Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
• Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
• To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
• Silver must be 99.9% pure • (forbes.com)

External Links

kitco.com

• Live Gold Prices
  

wsj.com

• Are You Looking to Keep Gold in an IRA at Home? It’s not legal
  

investopedia.com

• What are options? Types, Spreads and Risk Metrics
  
• Stock Market Crash of 1987 Definition
  

en.wikipedia.org

• Taxpayer Relief Act of 1997 – Wikipedia
  

How To

How to open a Precious Metal IRA

Precious Metals are one of today’s most desired investment vehicles. They are so popular because they allow investors to earn higher returns than traditional investments like stocks and bonds. However, investing in precious metals requires careful planning and research before purchasing. Here are the basics to help you open your precious metal IRA account.

There are two types of precious metal accounts. They are paper gold and silver certificates (GSCs) and physical precious metals accounts. Each type has advantages and drawbacks. GSCs can be traded and access physical precious metals accounts, which offer diversification benefits. To learn more about these options, keep reading below.

Physical precious metals accounts are comprised of bullion and bars as well as coins. While this option provides diversification benefits, it also comes with some drawbacks. The costs involved in buying, storing and selling precious metals can be quite high. Their large size makes it difficult to transport them between locations.

The silver and paper gold certificates are also relatively affordable. These certificates can also be traded online, and they are easy to access. These make them ideal for people who don’t want to invest directly in precious metals. But, they’re not as well-diversified as physical counterparts. Also, since they’re backed by government agencies such as the U.S. Mint, the value of these assets could decrease if inflation rates rise.

You should choose the account that best suits your financial needs before you open a precious-metal IRA. Before doing so, consider the following factors:

1. Your tolerance level
2. Your preferred asset allocation strategy
3. How much time will you invest?
4. Consider whether you will use the funds to trade short-term.
5. What type of tax treatment do YOU prefer?
6. Which precious metals would you prefer to invest in
7. How liquid can your portfolio have to be
8. Your retirement age
9. Where to store precious metals
10. Your income level
11. Current savings rate
12. Your future goals
13. Your net worth
14. Any special circumstances that may affect your decision
15. Your financial overall situation
16. Preference between paper and physical assets
17. Your willingness to take on risks
18. Your ability manage losses
19. Your budget constraints
20. Your desire to become financially independent
21. Your investment experience
22. Your familiarity and knowledge of precious metals
23. Your knowledge of precious Metals
24. Your confidence in the economy
25. Your personal preferences

Once you’ve chosen the right type of precious Metal IRA to suit your needs, it is time to open a dealer account. These dealers can be found via referrals, word-of-mouth, and online research.

Once you have opened your precious-metal IRA, it is time to decide how much you want to deposit. It’s important to note that each precious metal IRA account carries different minimum initial deposit amounts. Some accounts only require $100, while others may allow you up to $50,000.

As stated above, the amount of money invested in your precious metal IRA is completely up to you. You should choose a higher initial deposit if you want to build wealth over time. On the other hand, if you’re planning on investing smaller sums of money every month, a lower initial deposit might work better for you.

As far as the actual precious metals used in your IRA go, you can purchase any number of different types of investments. The most popular are:

• Bullion bars, rounds and coins in gold – Gold
• Silver – Rounds or coins
• Platinum – Coins
• Palladium – Round and bar forms
• Mercury – Round and Bar Forms

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By: Donny Gamble
Title: 7 Best Bitcoin IRA Companies 2023 (Ranked by lowest fees)
Sourced From: retirementinvestments.com/crypto/bitcoin-ira-companies/
Published Date: Thu, 19 Jan 2023 07:43:00 +0000