AT A GLANCE
- Best Overall Bitcoin IRA Company
- Offline and cold storage wallet
- Low yearly fees
- Fully insured
A BBB Rating
Average review rating 4.9/5 on TrustPilot
The Bottom Line: CoinIRA is a subsidiary of Goldco. They specialize in allowing investors and retirees invest in crypto in their IRA by doing a rollover to a self-directed IRA. You have the option to invest in cryptos like Bitcoin, Ethereum, Ripple, and Litecoin.
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Cryptocurrencies have been booming in recent years as institutional investors gradually begin to fully legitimize digital money.
Since business is mostly done online in the modern world, it is indisputable that digital money will eventually overtake physical paper as the most common medium of exchange.
Bitcoin has been around for over 11 years, and it has only continued to grow in importance with each passing year.
Consequently, cryptocurrencies have become an important asset to hold in any investment portfolio.
Unfortunately, there are ordinarily significant barriers to holding cryptocurrencies with an IRA account.
CoinIRA has, however, introduced a legitimate solution that can enable you to hold cryptocurrencies without making expensive withdrawals from your retirement portfolio.
By holding cryptocurrencies in your portfolio, you can securely maintain full control over your own money while enjoying exposure to a rapidly growing asset class.
Minimum Investment: $25,000
Annual Fee: $175-$225
Promotion: 5% back on cryptos over $50k
What Is CoinIRA?
After realizing success with its' gold IRA concept for almost two decades, Goldco decided to bring similar expertise into the cryptocurrency markets.
The company moved quickly to capitalize on the opportunity, and it pioneered the concept of enabling IRA investors to buy cryptocurrencies.
With CoinIRA, you can easily buy and sell cryptocurrencies with your existing IRA funds.
Purchased coins are held in cold storage to eliminate the possibility of hackers stealing your money.
Accounts are also insured in case of a data breach, so you do not have to worry about losing your funds.
The company also relies extensively on its existing relationships with IRA custodians, so you can reliably move your money with fewer difficulties while complying with all relevant laws.
Overall, CoinIRA is designed for both amateurs and serious institutional investors who wish to invest in cryptocurrencies.
How Does CoinIRA Work?
CoinIRA makes it easy to get started with your new account by enabling you to register directly on the company's website.
The company has a partnership with New Direction Trust that helps to speed up the account approval process.
Once your account has become available, CoinIRA can help you to initiate the IRA rollover process if you have not already done so.
Once your account is legally considered self-directed, you can freely trade cryptocurrencies on your own with funds that you move into your CoinIRA account.
All of the complexities associated with purchasing and holding cryptocurrencies are handled on your behalf.
CoinIRA uses a leading cryptocurrency exchange to help its clients complete transactions almost instantly with minimal fees.
You can use the company's trading platform to place trades immediately, and you can view market orders in a way that is very similar to a conventional stock exchange.
Once you have purchased your coins, the company can optionally transfer your assets directly into a segregated wallet that you control.
What Services Does CoinIRA Offer?
The full range of services necessary to legally trade cryptocurrencies with an IRA account are provided by CoinIRA.
The company goes to great lengths to safeguard the assets of its clients by using secure software that is updated on a regular basis.
The system is designed to put all transactions through an extensive verification process that prevents the possibility of fraud initiated by malicious actors.
To provide further protections for clients, trades are actually confirmed by CoinIRA over the phone.
CoinIRA offers three different storage methods that you can choose from.
Firstly, the company can store your coins for you in a secure vault that is kept offline.
Secondly, you can move your funds into a hard wallet that you control, such as Ledger or KeepKey.
Finally, you have the option of getting full control over the funds on your own by having the money transferred directly to your cryptocurrency wallet.
With the flexibility that CoinIRA provides, you can truly control your own coins with few restrictions.
As with most investment accounts, CoinIRA requires a minimum financial commitment before allowing you to get started.
CoinIRA Fees For Crypto IRAs
Set-up fee for IRA
$20,000 to $25,000
With an ordinary self-directed IRA account, you are required to invest at least $20,000 before getting started.
However, an investment of only $3,500 is required when you transfer funds from a non-IRA account.
CoinIRA's fees are relatively low when you consider the broad range of services that the company provides on your behalf.
There is a fixed $50 fee that is charged upon opening your account.
There is also an annual fee of $80 that you are required to pay to keep your account open.
If you elect to have CoinIRA store your funds in an offline wallet, you will have to pay a $100 fee.
However, fees are waived for the first year if you maintain a balance of at least $50,000 in your account.
You can also get 5% back on any qualified order of $50,000 or more.
Learn How To Buy Bitcoin with Your IRA or 401(k)
Get Your FREE Coin IRA Guide to Bitcoin Investing
Benefits of Investing in Cryptocurrencies
As a cryptocurrency investor, you will enjoy a wide range of benefits that will help to grow your portfolio over time.
Unlike conventional securities that are essentially just pieces of paper, cryptocurrencies are real assets that you can fully possess and control.
Although the value of cryptocurrencies is derived from intangible sources, the value of the coins themselves is held up by real use cases in the economy.
Therefore, you can depend on the fact that your coins will continue to hold their value as time goes on.
Cryptocurrencies are not backed by any centralized monetary authority, so you do not have to worry about a financial crisis in one nation disrupting the value of your portfolio.
Additionally, cryptocurrencies have been given legitimacy by the U.S. government, the IRS, and many local governments.
As a result, holding cryptocurrencies can reduce your risk exposure in a way that is fully legal and widely accepted.
How Safe is Your Investment?
Coins held by CoinIRA are extremely safe.
You do not have to worry about the possibility of losing your money to an exit scam or hacking attempt when you rely on CoinIRA because the company has implemented strong safeguards to protect the funds of its clients.
Coins are stored offline, so they cannot be stolen by hackers.
Additionally, CoinIRA is owned by a reputable financial services company that is subject to U.S. laws and has an extensive track record of successfully safeguarding client funds.
CoinIRA vs. Competition
Let's see how CoinIRA stacks up to their competition.
CoinIRA Customer Reviews & Ratings
Independent consumer protection agencies have vouched for CoinIRA's reputation for honesty and excellent customer service.
The company maintains an "A" rating with the Better Business Bureau, and it has been accredited by the BBB since December 2017.
Additionally, TrustLink has given CoinIRA a five-star rating.
On Trustlink's website, CoinIRA has an extensive customer feedback history that features over 250 positive reviews.
Overall, CoinIRA maintains a great reputation among its customer base that has helped it to grow rapidly in recent years.
Pros & Cons
How to Get Started With CoinIRA
Get your free bitcoin IRA guide: Their bitcoin IRA guide can help you to understand the wide variety of options that are available for investors who are considering alternatives to conventional securities.
Speak with a CoinIRA bitcoin specialist: CoinIRA will put you on the phone with bitcoin specialists who will help you to make the right investment decisions as you begin to gain exposure to digital currencies.
Open your CoinIRA account: Once you are ready to move forward, you should initiate the process of opening your account immediately so that you can get started as soon as possible.
Decide how much you want to invest: As you wait for your account to be approved, you should decide how much money you plan to allocate toward buying cryptocurrencies.
Fund your account: CoinIRA will guide you through the process of actually funding your account once your account has been fully opened.
Put your loaded wallet in cold storage: After purchasing cryptocurrencies, you should be sure to take advantage of CoinIRA's cold storage service so that you can keep your coins safe.
Should You Invest in CoinIRA?
Only you can decide what investments are right in your situation, but CoinIRA is certainly the best provider available for investors looking to purchase cryptocurrencies from a reputable financial institution.
CoinIRA is a subsidiary of Goldco. They specialize in allowing investors and retirees invest in crypto in their IRA by doing a rollover to a self-directed IRA.
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