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BitIRA Review: Pros, Cons & Free Ledger for New Customers

BitIRA helps investors open Bitcoin IRA accounts with an extensive range of cryptocurrency choices and exemplary security while allowing customers to maintain complete control of a self-directed IRA and efficiently exchange digital assets.

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Our Partner

Top Bitcoin IRA Partner

AT A GLANCE

  • Insured cold storage
  • Low yearly fees
  • Secure crypto wallet
  • Outstanding customer reviews

Overall Rating

4.5/5

A+ BBB Rating

Average review rating 5/5 on Google

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Pros & Cons

Pros

  • Guarded and insured cold storage secures crypto assets offline.
  • Diversify your portfolio with up to eight cryptocurrencies on the platform.
  • Flexibility to invest in asset classes unavailable in conventional IRAs.
  • Tax-free investing in digital assets classified as personal properties.
  • Maximum security digital IRA registered with the US government.
  • Ability to keep your cryptocurrency without converting to cash.

Cons

  • Pricing structure does not disclose fees upfront.
  • New company with limited track record.

A new type of investing for the modern age, cryptocurrency is here to stay. Today, individuals can benefit from the impressive growth rates possible with Bitcoin and similar currencies by adding them to retirement savings. 

However, many still hold concerns about their stability.

BitIRA offers a professional online platform for digital Bitcoin IRA management with thorough reporting and easy currency conversions to maximize stability and growth. 

Extensive security measures secure digital assets in offline wallets to provide customers with peace of mind.

This BitIRA review will provide valuable information about the company for potential investors, including answers to frequently asked questions and a pros and cons overview.

Continue reading to discover how BitIRA offers innovative digital solutions for modern investors.

BitIRA icon

Quick Summary

Minimum Investment: $5,000

Custodian Fees: $300-$1,000 /year (depending on the amount in the account)

Promotion: Free Ledger for new customers

About BitIRA?

An individual retirement account provides tax advantages for retirement savings, and BitIRA enables Americans to invest in digital assets for retirement while taking advantage of the same tax benefits.

The company focuses on long-term investments ideal for retirement plans.

Customers can set up a retirement account with BitIRA to include cryptocurrencies such as Bitcoin and Ethereum in their investment portfolio. 

Digital IRA investors maintain complete control of the self-directed IRA services offered by the company.

Why Invest in Bitcoin & Crypto?

Bitcoin and cryptocurrency allow you to diversify your retirement portfolio beyond traditional stocks and mutual funds.

These digital currencies are also considered personal properties and remain tax-free until you withdraw from your retirement account as a distribution.

While traditional assets remain vulnerable to inflation, digital currencies possess built-in mechanisms to serve as an inflationary hedge for your savings. 

These mechanisms include adaptive scaling and decentralized management, which prevents government interference.

BitIRA Services

BitIRA offers unique services for interested investors, including a platform for a self-directed IRA that allows you to manage your digital assets directly. 

Conventional IRAs are limited to mutual funds, bonds, and stocks managed at a financial institution's discretion.

The company facilitates the entire process by explaining your investment options, helping you complete paperwork, overseeing rollovers, assisting with contributions, and offering ongoing support. 

Additionally, customers can easily use both conventional and digital assets in their IRA.

All cryptocurrency investors must use a digital wallet, but a hot wallet connected to the internet is vulnerable to hackers.

BitIRA customers benefit from an insured and guarded "cold wallet" isolated from the internet, prioritizing the security of their investments.

Investment & Fees

One-Time Fees:

Custodian Fee:

Set-up fee for IRA

$50

Wire fee

$30

Multi-Coin Digital Currency Initial Purchase Transaction Fee

$300

Multi-Coin Digital Currency Subsequent Purchase Transaction Fee

$100

Multi-Coin Digital Currency Annual Depository Fee

$400

Bitcoin Only Digital Currency Purchase Transaction Fee

$100

Multi-Coin and Bitcoin Only Digital Currency Sell Transaction Fee

$100

*Transaction Fees (Note that only some of these will apply to any single account)

Annual Fees:

Custodian Fee:

Account Management

$300 - $1,000

*The majority of BitIRA customers pay $300-$400 per year.

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Who is BitIRA Best for?

The ideal investors for a Bitcoin IRA from BitIRA include individuals seeking an innovative way to diversify their retirement portfolio while maintaining complete control and responsibility for their investment decisions with a self-directed IRA.

Digital assets can also provide concerned investors with a valuable inflationary hedge to help cushion against the impacts of inflation on conventional assets.

Cryptocurrency is a new and exciting market for trailblazing investors seeking unique investments with great potential.

While digital assets and cryptocurrencies offer exceptional opportunities for potential growth, Inexperienced investors who may not desire complete responsibility for their retirement account may benefit more from heavily managed conventional IRAs.

What Makes BitIRA Unique?

BitIRA understands the importance of successful retirement savings for your future and created a service specializing in using decades of experience to incorporate alternative assets within IRAs.

The independence, security, and support offered by the company remain first class. 

Conventional IRAs do not allow investors to exercise the same degree of autonomy over their investment decisions while still benefiting from world-class support.

Innovative digital IRAs present an exciting step forward into the future potential of retirement savings.

FAQ's

How is crypto able to be held in my retirement account?

Where will my IRA's cryptocurrency be stored?

Which cryptocurrencies do you offer?

Which custodian do you use to roll over my account?

Which types of investment accounts can I roll over into a Bitcoin IRA?

Is there a buyback program? If so, what are the criteria?

How is crypto able to be held in my retirement account?

A custodian company like BitIRA connects the digital wallet that holds your cryptocurrency to your retirement account and accepts rollovers from existing accounts to combine your assets on one platform seamlessly.

Where will my IRA's cryptocurrency be stored?

Crypto assets are stored offline in multi-sig wallets held in a personal device protected by armed guards inside a Class 3 vault. These "cold wallets" stay secure from hackers by remaining disconnected from the internet.

Which cryptocurrencies do you offer?

BitIRA offers several types of cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Zcash, and Stellar Lumens. Customers can easily transfer between different cryptocurrencies to quickly diversify their digital portfolio.

Which custodian do you use to roll over my account?

BitIRA uses Preferred Trust Company, a licensed trust custodian specializing in self-directed IRAs. The Bitcoin custodian provides security services to store crypto assets, insurance against theft or loss, and compliance with current storage security standards.

Which types of investment accounts can I roll over into a Bitcoin IRA?

Investors can roll over some 401(k) savings and standard IRA accounts that include conventional investments such as stocks and bonds to set up a Bitcoin IRA Account. Investors can also set up a new retirement account with BitIRA if they prefer.

Is there a buyback program? If so, what are the criteria?

Yes, BitIRA does offer a buyback program. Any existing BitIRA customer can liquidate their holdings at any time.

BitIRA vs. Competitors

best cUSTOMER SERVICE

Bitcoin IRA logo
  • Annual Fee: N/A
  • Minimum Investment: $3,000
  • Promotion: Crypto buyback program

BEST EDUCATION

iTrustCapital Logo
  • Fees: 1% per trade, $29.95 per month.
  • Minimum Investment: $1,000
  • Promotion: No current promos

BitIRA Reviews & 3rd Party Ratings

BitIRA boasts excellent reviews and 3rd party ratings with an A+ rating from the BBB and 5/5 stars on Trustlink thanks to the company's exceptional customer service.

Investors especially appreciate their trustworthy guidance and expert handling of the account setup.

Customer reviews of their company feature compliments about a smooth rollover process and peace of mind enjoyed by investors thanks to the company's world-class security. 

Customers seeking a secure way to invest in cryptocurrency highly recommend BitIRA.

BitIRA Promotions

The company currently offers a free ledger device to any new customers of BitIRA. The customer must mention this promotion to receive the ledger.

How to Get Started with BitIRA

STEP 1: To get started with the rollover process, customers must first contact their Digital Currency Specialist. While a digital IRA is a self-directed retirement account that you accept full control over, a qualified custodian must legally handle its administration.

STEP 2: BitIRA partners with Preferred Trust Company to prepare the necessary documentation to begin the process. Customers simply need to provide their specialist some critical pieces of documentation, and the BitIRA team will complete the paperwork to open the new account.

STEP 3: Most new accounts can open within a few weeks and begin to accept funding and asset rollovers from existing accounts. The digital currency specialist and IRA department work with the old custodian to oversee asset transfers while carefully preventing penalties and hidden costs.

You can buy digital currencies through an exchange and store your assets in a digital wallet when these elements connect to your account.

Investors also gain access to the BitIRA corporate account to provide buyers and sellers liquidity to complete the setup process.

Final Verdict

BitIRA has responded to global interest in digital currencies by providing an innovative solution for investors seeking to diversify their portfolio with digital assets.

The Bitcoin IRA offered by this company presents a secure opportunity to take advantage of a growing cryptocurrency market.

The security and flexibility of investing with BitIRA are unparalleled by competitors and verified by enthusiastic customer reviews.

Despite high fees, BitIRA offers experienced investors an excellent opportunity to maintain control while benefiting from cryptocurrency investments.

To create a better future for themselves, retirement account holders should invest in a company that embraces the new opportunities provided by that future. The digital IRAs offered by BitIRA are the modern solution for more productive individual retirement accounts.

If you agree with this BitIRA review and are looking for a reliable company to support your ambitions in growing your retirement accounts and expanding your portfolio in an innovative market, contact BitIRA today.

BitIRA

BitIRA helps investors open Bitcoin IRA accounts with an extensive range of cryptocurrency choices and exemplary security while allowing customers to maintain complete control of a self-directed IRA and efficiently exchange digital assets.

BitIRA icon
  • Editor Rating
  • Rated 4.5 stars
  • 80%

  • BitIRA
  • Reviewed by:
  • Published on:
  • Last modified: September 21, 2021


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