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

How much should you have of gold in your portfolio

The amount of money you need to make depends on how much capital you are looking for. A small investment of $5k-10k would be a great option if you are looking to start small. As you grow, it is possible to rent desks or office space. You don't need to worry about paying rent every month. You just pay per month.

Consider what type of business your company will be running. In my case, I run a website-creation company. Our clients pay us between $1000-2000/month and depending on their order. This is why you should consider what you expect from each client if you're doing this kind of thing.

You won't get a monthly paycheck if you work freelance. This is because freelancers are paid. Therefore, you might only get paid one time every six months.

You need to determine what kind or income you want before you decide how much of it you will need.

I recommend starting with $1k to $2k of gold, and then growing from there.

How does a Gold IRA account work?

Gold Ira accounts are tax-free investment vehicles for people who want to invest in precious metals.

You can purchase physical bullion gold coins at any point in time. To start investing in gold, it doesn't matter if you are retired.

You can keep gold in an IRA forever. Your gold holdings won't be subject to taxes when you pass away.

Your heirs can inherit your gold and avoid capital gains taxes. It is not required that you include your gold in the final estate report because it remains outside your estate.

You'll first have to set up an individual retirement account (IRA) to open a gold IRA. After you have done this, an IRA custodian will be assigned to you. This company acts as an intermediary between you and IRS.

Your gold IRA custodian is responsible for handling all paperwork and submitting the required forms to the IRS. This includes filing annual reports.

Once you've established your gold IRA, you'll be able to purchase gold bullion coins. Minimum deposit is $1,000 A higher interest rate will be offered if you invest more.

You'll have to pay taxes if you take your gold out of your IRA. You will be liable for income taxes and penalties if you take the entire amount.

You may not be required to pay taxes if you take out only a small amount. However, there are some exceptions. There are some exceptions. For instance, if you take out 30% or more from your total IRA assets, federal income taxes will apply plus a 20 percent penalty.

Avoid taking out more that 50% of your total IRA assets each year. If you do, you could face severe financial consequences.

What precious metal should I invest in?

This depends on what risk you are willing take and what kind of return you desire. Gold is a traditional haven investment. However, it is not always the most profitable. Gold may not be right for you if you want quick profits. You should invest in silver if you have the patience and time.

If you're not looking to make quick money, gold is probably your best choice. Silver might be a better investment option if steady returns are desired over a long period of time.

What tax is gold subject in an IRA

The fair market value at the time of sale is what determines how much tax you pay on gold sales. When you purchase gold, you don't have to pay any taxes. It is not considered income. If you decide to sell it later, there will be a taxable gain if its price rises.

For loans, gold can be used to collateral. Lenders look for the highest return when you borrow against assets. This often means selling gold. This is not always possible. They may hold on to it. Or they might decide to resell it themselves. The bottom line is that you could lose potential profit in any case.

If you plan on using your gold as collateral, then you shouldn't lend against it. You should leave it alone if you don't intend to lend against it.

Should You Purchase Gold?

Gold was a safe investment option for those who were in financial turmoil. However, today many people are turning away from traditional investments such as stocks and bonds and instead looking toward precious metals such as gold.

Gold prices have been on an upward trend over recent years, but they remain relatively low compared to other commodities such as oil and silver.

Some experts believe that this could change very soon. According to them, gold prices could soar if there is another financial crisis.

They also point out that gold is becoming popular because of its perceived value and potential return.

If you are considering investing in gold, here are some things that you need to keep in mind.

• Consider whether you will actually need the money that you are saving for retirement. You can save for retirement and not invest your savings in gold. However, you can still save for retirement without putting your savings into gold.
• You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each one offers different levels security and flexibility.
• Don't forget that gold does not offer the same safety level as a bank accounts. If you lose your gold coins, you may never recover them.

You should do your research before buying gold. If you already have gold, make sure you protect it.

How can I withdraw from a Precious metal IRA?

First, determine if you would like to withdraw money directly from an IRA. You should also ensure that you have enough money to cover any fees and penalties associated with withdrawing funds.

A taxable brokerage account is a better option than an IRA if you are prepared to pay a penalty for early withdrawals. This option is also available if you are willing to pay taxes on the amount you withdraw.

Next, you'll need to figure out how much money you will take out of your IRA. The calculation is influenced by several factors such as your age at withdrawal, the length of time you have owned the account and whether or not you plan to continue contributing to retirement plans.

Once you determine the percentage of your total saved money you want to convert into cash, then you need to choose which type IRA you will use. Traditional IRAs allow you to withdraw funds tax-free when you turn 59 1/2 while Roth IRAs charge income taxes upfront but let you access those earnings later without paying additional taxes.

Once the calculations have been completed, it's time to open a brokerage accounts. To encourage customers to open accounts, brokers often offer signup bonuses and promotions. Avoid unnecessary fees by opening an account with your debit card, rather than your credit card.

When it comes time to withdraw your precious metal IRA funds, you will need a safe location where you can keep your coins. Some storage facilities will take bullion bars while others require you only to purchase individual coins. You will need to weigh each one before making a decision.

Bullion bars are easier to store than individual coins. However, each coin will need to be counted individually. However, keeping individual coins in a separate place allows you to easily track their values.

Some people prefer to keep their coins in a vault. Some people prefer to store their coins safely in a vault. No matter what method you use, it is important to keep your bullion safe so that you can reap its benefits for many more years.

Statistics

• This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
• (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
• Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
• You can only purchase gold bars at least 99.5% purity. (forbes.com)
• Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)

External Links

irs.gov

• Internal Revenue Service
  

investopedia.com

• Are You a Good Candidate for a Gold IRA
  
• What are the Options? Types, Spreads and Example. Risk Metrics
  

bbb.org

• BBB: Start With Trust(r), Better Business Bureau(r).
  

wsj.com

• Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
  
• Do you want to keep your IRA gold at home? It's Not Exactly Legal – WSJ
  

How To

Tips for Investing with Gold

One of the most sought-after investment strategies is investing in gold. There are many advantages to investing in Gold. There are many options for investing in gold. There are many ways to invest in gold. Some prefer buying physical gold coins while others prefer gold ETFs (Exchange Traded Funds).

Before buying any kind of gold, you need to consider these things.

• First, verify that your country permits gold ownership. If so, then you can proceed. You can also look at buying gold abroad.
• The second is to decide which kind of gold coin it is you want. You have the option of choosing yellow, white, or rose gold.
• Thirdly, it is important to take into account the gold price. Start small and build up. Diversifying your portfolio is a key thing to remember when purchasing gold. Diversifying your portfolio includes stocks, bonds, mutual funds, real estate, commodities, and mutual funds.
• Last but not least, remember that gold prices fluctuate frequently. Be aware of the current trends.

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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