I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.
BitIRA is a platform that allows individuals to invest in cryptocurrency for their retirement accounts, providing potential investors with tax-deferred growth.
- Fully IRS-compliant
- Insured cold storage
- Full-service support
- World-class security
- Higher admin fees
- Must trade inside your IRA
Cryptocurrency IRAs are all the rage. Whether you’re a seasoned investor or a disinterested bystander, you’ve likely heard of the popular trend of investing in cryptocurrency.
There are many apps, including BitIRA, that cater to investors. Current market research suggests that the crypto market’s value will more than quadruple by 2030, reaching over $4 billion.
Although many platforms and apps are available to prospective investors, it’s important to use discernment in choosing the right one to safeguard your crypto assets.
We’ve done the research for you, so you can save yourself time and money while evaluating your crypto investment options. Use this comprehensive BitIRA review to determine whether the platform is right for you.
What is BitIRA?
BitIRA is a platform that facilitates cryptocurrency investments for investors to open IRS-compliant digital IRAs. The company aims to bring individual retirement accounts to people who traditionally wouldn’t have the opportunity to take advantage of retirement planning.
It aims to prioritize investor education and provide tailored attention to its clients. As digital currency specialists, the company plans to demystify the complex nature of cryptocurrency investments.
The company, founded in 2017 by American precious metals investment company Birch Gold Group, was one of the first to allow inventors to leverage popular cryptocurrencies such as Bitcoin and Ethereum in self-directed accounts under a special tax-deferred status.
How BitIRA Works
BitIRA mainly provides Bitcoin IRA programs for investors. To get started, you’ll need to create a new account. You can create your BitIRA account on the website to begin your retirement investments.
Remember that it can take one to three weeks for your account to go live. You can also mix and match your cryptocurrencies since your account is self-directed.
Your investments are then protected with insurance through third-party providers and safe from hackers. BitIRA partners with Preferred Trust Company and Equity Trust Company to ensure the utmost security for your assets.
Its insurance policy options are generally regarded as the best in the industry. Your investments are kept in cold storage in grade-5 nuclear bunkers for added protection. You also benefit from secure authentication to protect your IRA accounts.
If you need additional help, you can work with IRA specialists through the platform who have received training from big-name IRA custodians such as Fidelity and Merrill Lynch. They’ll empower you to make better investment decisions.
Remember to read the warranty documents and disclaimers to determine your responsibilities and do your due diligence.
BitIRA’s self-directed crypto IRAs allow you to choose, purchase and manage your investments without the need for expensive brokerage fees. This account type differs from others in that you can leverage digital currencies.
You can also expand your investments to include non-digital assets such as stocks or mutual funds. Among the digital coins you can purchase are:
- Bitcoin Cash
- Ethereum Classic
- Stellar Lumens
Additionally, you’ll need to consider the parameters for investment. For example, the minimum investment amount with BitIRA is $5,000, so you’ll have to budget for this amount.
Additionally, there is a $50 set-up fee to use BitIRA, and you may also have to pay for custodians. You can contact the company for more information.
BitIRA Fees & Minimums
|IRA setup fee||$50|
|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|
|Custodian management fee||$300 – $1,000 per year|
How Does BitIRA Compare?
3.99% set-up fee, 2% trading fee, 0.08% maintenance fee
Free Ledger for new customers
No current promotions
No current promotions
Who Should Use BitIRA?
BitIRA is ideal for anyone seeking to expand their blockchain investments. Long-term investors typically benefit from using BitIRA because the company primarily offers investment retirement accounts.
The longer you can grow your investments, the more savings you’ll gain. BitIRA is also great for alternative asset investors since the platform accepts both digital and traditional assets.
You can diversify your investments to protect your funds and ensure increased profits. Because the app is relatively complicated and crypto requires some experience, this platform is best for investors with moderate experience.
Getting Started with BitIRA
Getting started with BitIRA is extremely simple. Follow these steps for your account setup.
- First, request a free guide to learn more about retirement account options.
- Then, you can expect a follow-up call with a qualified expert from BitIRA, who will help you determine which retirement account type to choose and direct you to get started.
- Choose your retirement account type. You can choose between a traditional IRA or a Roth IRA.
- You’ll then transfer funds from your existing retirement account to a hot wallet. This wallet will allow you to transfer funds with ease.
- You can now begin investing in crypto. Your investments will be stored in cold storage facilities with military-grade protection.
My experience with BitIRA was exceptional. I had the pleasure of speaking and working with Jeremy. He was MORE than pleasant…very professional and extremely helpful. He explained to me all that I needed to know, every step of the way. So nice to know that there are people in the world who still focus on customer service and deliver it with such ease and patience. Bravo.Susan M., Verified Google customer
My BitIRA experience has been great, they are responsive and made transferring my IRA into their custodian pretty seamless. They are lowering the fees which is always a plus. I would suggest building out another part of the platform that allows you to buy and sell crypto and commodities on your own 24/7. That would make it complete. Thank you!Mark C., Verified Google customer
Should I Invest with BitIRA?
Investing with BitIRA is an excellent idea if you’re interested in diversifying your investments and venturing into digital currency investments. It’s the perfect way to learn more about alternative assets.
Additionally, BitIRA offers an easy way to begin saving for retirement, and you can live on your distributions well into your old age. The pricing is reasonable, and you can do away with custodial fees.
Head to the BitIRA website to request your free guide to start. You’ll soon hear back from an advisor and can open an account.
Consider the answers to our most frequently asked questions to evaluate the pros and cons of using a self-directed IRA from BitIRA.
Is BitIRA a legitimate company?
BitIRA is a legitimate company with an A+ rating from the Better Business Bureau. The company also has high ratings from third-party review websites.
Who owns BitIRA?
The Birch Gold Group owns BitIRA. This organization is one of the leading precious metals investment companies in America.
Does BitIRA have any pending lawsuits or complaints?
BitIRA does not have any pending lawsuits or complaints.
Where is BitIRA located?
BitIRA is located in Burbank, California, in the United States.
BitIRA facilitates the purchase of Digital Currency, nothing more, and charges a fee for the service it provides (based on the transaction value).