BitIRA Review

This crypto IRA company doesn’t charge expensive fees like its competitors and has a very affordable $5,000 minimum initial investment so investors of any experience level can start reaping tax benefits.

My BitIRA review delves into the investment offerings, hands-on customer experience, and more.

The Verdict for BitIRA

I’ve given them a rating of 9.2 out of 10.

Criteria	Rating (out of 10)
Cryptocurrencies Supported	9
Pricing & Fees	9.5
Storage & Security	9.5
Account Setup & Maintenance	9
Resources & Tools	9
Reputation & Reviews	9
Customer Service & Support	9
Overall Rating	9.2

In this review of BitIRA, I’ve followed BIC’s detailed criteria for evaluating the crypto IRA platform.

About BitIRA

BitIRA is one of the oldest digital currency IRA providers dating back to 2017.

You can invest in over 15 cryptocurrencies with a $5,000 minimum initial investment and traditional or Roth tax benefits with the flexibility of a self-directed IRA.

You’re able to get open a cryptocurrency IRA with these account types:

• Traditional
• Roth
• SEP 
• SIMPLE IRA

The company’s headquarters are in Burbank, California. Its principal owner is Birch Gold Group, one of the largest gold IRA companies.

Dedicated IRA specialists assist with transferring your existing retirement accounts and provide ongoing support as you make future trades.

Further, one of the platform’s core missions is to provide in-depth investor education and a hands-on customer experience.

BitIRA holds an A+ rating from the Better Business Bureau and has been BBB accredited since 2018.

It has previously been ranked as one of the hottest fintech startups and holds the honor of being the first digital asset company to register with the U.S. Department of Treasury as a money services business.

Cryptocurrencies Supported

You can buy or sell over 15 cryptocurrencies:

• Bitcoin (BTC)
• Bitcoin Cash (BCH)
• Chainlink (LINK)
• Ethereum (ETH)
• Ethereum Classic (ETC)
• Litecoin (LTC)
• Zcash (ZEC)
• Stellar Lumens (XLM)
• Aave (AAVE)
• Basic Attention Token (BAT)
• The Graph (GRT)
• Livepeer (LPT)
• Maker (MKR)
• yearn.finance (YFI)
• Compound (COMP)
• Dai (DAI)
• Uniswap (UNI)

This selection is notably lower than many crypto IRA platforms, but I find that the investment choices are more than suitable for most investors.

This is because you avoid the most illiquid and volatile tokens and “meme coins” where many investors lose money. 

Cryptocurrency isn’t risk-free, but these supported tokens have an established market cap and are good for short- and long-term investment horizons.

Prices & Fees

The minimum initial investment is $5,000 and there are only two fees you will pay:

Crypto Trading Fee	1% or less
Outgoing Wire	$30

You will no longer encounter setup or ongoing depository fees that most competitors charge to open and maintain your account.

Overall, the lack of fees easily makes BitIRA one of the best crypto IRA companies.

I also think this pay-as-you-invest pricing benefits small account balances so you have more to save for retirement and reap the tax benefits sooner. 

Subsequently, new customers can receive a free Ledger Nano S.

Storage & Security

You have the assurance that BitIRA is one of the most secure crypto IRA platforms by partnering with several of the most reputable Bitcoin custodians.

Simply put, your assets are held in cold storage with end-to-end security plus comprehensive crime and crypto vault risk insurance through multiple partners.

First, Equity Trust Company (ETC) is BitIRA’s preferred custodian to manage record keeping and maintain tax compliance.

ETC has been offering self-directed IRAs since 1972 and insures up to $4 million in cash deposits.

Next, you can buy and sell cryptocurrencies through Galaxy Digital, which is one of the largest crypto exchanges.

It launched in 2018 and is trusted by many “smart money” institutional investors, trading firms, hedge funds, and banks.   

BitIRA and its IRA custodian (Equity Trust) use a multi-signature system from Ledger Enterprise for cold, offline storage to prevent fraudulent withdrawals.

The third-party protects your keys by requiring signatures from multiple devices before liquidating or transferring your balance.

I believe these various partnerships and the extensive insurance coverage strengthen investor confidence, knowing that several industry leaders have custody of your portfolio.

Account Setup & Maintenance

You can follow these steps to invest in cryptocurrency with your retirement dollars:

1. Open an account: The online account opening process is brief and only requires your contact information, date of birth, and Social Security number. You can also request a free info guide to speak with an agent and learn more.
2. Fund your IRA: An IRA specialist will help you open a self-directed IRA. This expert assists with 401(k) rollovers and transferring your existing retirement accounts. You may also fund cash deposits by ACH, wire, or check.
3. Buy cryptocurrency: After your deposits clear, you can trade 22 hours a day, 7 days a week. All trades are in a self-directed crypto IRA so you can earn tax-friendly investment returns over your investing career.
4. Offline storage: Your crypto assets are stored offline in a cold storage wallet for optimal security. Your account also has end-to-end insurance coverage if criminal activity happens.  
5. Withdrawals: You can coordinate pre-retirement and in-retirement distributions through your IRA custodian, Equity Trust Company. The withdrawal process typically involves a trial deposit to your private wallet before processing the full request.

Resources & Tools

In my opinion, you will find more extensive education resources than several of its competitors.

The BitIRA U content library has several guides covering topics, such as:

• Cryptocurrency lingo
• Custody
• Insurance
• Security
• Taxes  

Moreover, there are plenty of current events articles that help you remain knowledgeable on the latest industry growth trends, challenges, and future possibilities.

Reputation & Reviews

Most BitIRA reviews are positive and highlight the attentive, friendly customer support.

Long-time customers also like that it keeps looking for ways to reduce fees for one of the most affordable crypto IRAs.

BitIRA rates 4.5 out of 5 stars with Google Reviews with 29 customer ratings.

It also has an A+ BBB rating, BBB accreditation since 2018, and has a customer review rating of 4 out of 5 stars. 

I think that BitIRA is highly reputable. However, I wish there was a greater abundance of recent reviews from within the past 12 months so potential customers can establish more trust.

As of late 2024, most customer reviews are from two to three years ago.

Customer Service & Support

BitIRA phone support is available from 8 a.m. to 5 p.m. Pacific, Monday to Friday.

Email support is also available and I received a quick response when researching the company.

Several FAQs mostly cover common aspects of enrollment, account security, and liquidation.

This content helps you learn more about what to expect before picking up the phone or emailing. 

No matter where you’re at in the gold investing process, you can request a free info kit to schedule a complimentary phone consultation to answer your various questions.

BitIRA Alternatives

These crypto IRA companies typically support more altcoins and have different custodian and storage partners.

Bitcoin IRA

Bitcoin IRA supports over 60 cryptocurrencies and has a 24/7 trading window versus BitIRA’s 15+ crypto choices and 22/7 trading window.

Accounts qualify for up to $250 in crypto insurance, although you will encounter one-time and ongoing service fees. The minimum investment is $3,000.

Open a Bitcoin IRA account in just 3 minutes!

iTrustCapital

Trade over 50 cryptocurrencies along with physical gold and silver at iTrustCapital.

Crypto trades incur a similar 1% transaction fee, similar to BitIRA, and the minimum investment is $1,000. 

Open an account with iTrustCapital today

My Digital Money

My Digital Money has over 15 IRA-approved cryptocurrencies and fractional precious metals.

There are no setup fees, and transaction fees range from 0.75% to 1.7% per crypto trade. The minimum investment is $5,000.

Open a free My Digital Money trading account

Is BitIRA a legitimate company?

BitIRA is a legit Bitcoin IRA that allows you to invest a portion of your retirement portfolio in the most liquid cryptocurrency.

The affordable pricing makes it easy to invest more of your discretionary income. You also have peace of mind working with trustworthy IRA custodian and storage partners.

Get your Free Ledger Nano S from BitIRA today!

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