One such option is a Bitcoin IRA, which allows investors to buy and trade the asset using an established IRA platform ahead of their retirement. The following are the best crypto IRAs you can use to invest in Bitcoin against your retirement.
1. BitcoinIRA
BitcoinIRA is by far the most popular crypto IRA available. You can trade on the platform 24/7, making it possible to trade whenever you wish.
BitcoinIRA supports over 60 crypto assets, including Bitcoin, of course, and many top altcoins, such as Ethereum, Litecoin, and Cardano.
With just $3,000, you can open an IRA account and buy and start trading a single cryptocurrency or multiple cryptocurrencies of any combination.
You can also roll over other retirement funds such as traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, 403b, or 401k into your BitcoinIRA account and keep trading.
BitcoinIRA works with crypto custodial services provider, BitGo to securely hold your crypto assets in offline cold storage, making it safe from attackers even if the platform is compromised.
What’s more? A $700 million insurance policy covers your retirement investment should anything go wrong.
Apart from a one-time fee used to cover security, storage, and other costs, there are specific fees that BitcoinIRA doesn’t state explicitly. You’ll need to speak with an agent to get specific numbers, depending on how you want to structure your account.
2. BitIRA
BitIRA is one of the top crypto IRAs you should consider before retirement. Like BitcoinIRA, it supports several crypto assets for you to choose from, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
You’ll need a minimum of $5,000 to invest in this one, and you can invest in any number of the supported crypto assets. BitIRA’s fees include $195 for annual maintenance, 0.05% of invested amount as a custody fee, and a one-time $50 setup fee, in addition to variable transaction fees.
For security, BitIRA employs cold storage with Equity Trust Company to securely provide custody for users’ funds while giving them complete control of their assets. There’s also a $100 million insurance cover for your funds in case of any misfortunes.
3. CoinIRA
CoinIRA provides a platform for investing in a single or multiple cryptocurrencies. It supports at least 20 assets, including Bitcoin, Ethereum, and Litecoin. Supported accounts include traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs.
One thing that sets CoinIRA apart is that in addition to its crypto assets, it also provides a crypto IRA guide to help you better understand your investment. They also provide consultants to help answer any questions concerning your investment.
Also noteworthy is the fact that CoinIRA doesn’t charge custody fees, even though Equity Trust Company is its crypto custodian, just like BitIRA. Instead, you’ll need to pay a 1.25% buy transaction fee and a 1% sell transaction fee when trading.
There is no startup or maintenance fee, but the minimum initial investment is $5,000, which may be on the high side for some investors.
4. Regal Assets
Regal Assets is known for providing variety for its IRA account holders. Apart from cryptocurrencies such as Bitcoin, Ethereum, and Litecoin (and many others, with 22 in total), it also provides hard assets such as gold and silver.
Regal Assets started initially as a platform purely dedicated to precious metals. It only included cryptocurrencies in 2017, when the demand for cryptocurrencies started to soar.
Like the other IRA platforms, it uses offline storage to secure customers’ assets, for which you’ll pay $150 yearly for the storage and a $100 annual administrative fee.
You can sign up on Regal Assets and start with an initial investment or rollover your traditional IRA account into it. If your favorite crypto asset isn’t among the listed 22, Regal Assets has an on-demand request for such a situation, and you can call to make a special request.
The major downside of this platform are the huge fees it charges for account maintenance and administration, but you can enjoy the variety that only a few platforms like it offer.
5. iTrustCapital
iTrustCapital is a reputable platform for crypto IRA investing and one that is more affordable than most. The platform is friendly towards both beginners and experienced investors alike, giving everyone a chance to experiment with a crypto IRA account.
If you’re just starting out in crypto investing, it may be helpful to research which altcoins to invest in first.
With a minimum investment of just $1,000, iTrustCapital lowers the bar for crypto IRA investing for retirement to those with lower capital. Like Regal Assets, you can buy and trade crypto and hard assets, such as gold and silver, in real-time, using your retirement account on iTrustCapital.
There are over 25 cryptocurrencies to choose from, including Bitcoin, Ethereum, and other altcoins that you can trade at any time of the day, 24/7. There are no monthly or annual account maintenance fees, and the transaction fee for crypto is 1% flat. The transaction fee for gold is $50 per ounce, while silver is $2.50 per ounce.
Assets on iTrustCapital are covered with insurance of up to $370 million in collaboration with Coinbase Custody, the custodial services arm of Coinbase, one of America’s best crypto exchanges.
The downside is that you can only fund your account with USD before buying crypto, as direct funding with crypto from another wallet is not allowed.
If you’re looking for a low-cost platform to start your crypto IRA with just $1,000 and access digital and hard assets at an affordable cost, iTrustCapital may be the place for you.
Which BitcoinIRA Suits You?
These are the top crypto IRA platforms you can use to invest in crypto for your retirement. Depending on your needs, any of them may suit you, and you should choose based on what you wish to achieve.
For example, If you’re looking for a combination of asset diversity and low fees, iTrustCapital is the choice. There are other factors that may come into play to decide which platform you choose ultimately, but be sure it is capable of helping you achieve your IRA crypto investment goals.
