Bitcoin: love it or hate it, it's not going anywhere anytime soon. While its volatility attracts a lot of skepticism, there is undeniable growth potential, even in your retirement account.
Want to add Bitcoin to your retirement strategy? A Bitcoin IRA lets you hold cryptocurrencies over the long run, similar to a regular IRA account. Bitcoin IRAs are best for investors who believe in the longevity of cryptocurrencies and already have a well-diversified retirement plan.
The best bitcoin IRAs are evaluated by comparing them to other similar IRA platforms. These top-rated platforms are industry leaders who excel in security measures and trustworthiness, customer support, and a competitive selection of cryptocurrencies.
Best Bitcoin IRAs
- BitcoinIRA: Best for Beginners
- BitIRA: Best for Storage and Security
- Alto CryptoIRA: Best Investment Selection
- Coin IRA: Best for Ease of Use
- iTrustCapital: Best for Affordability
Open a Bitcoin IRA Account Online
$1,000
0.99% - 1.99% one-time deposit fee, 2.00% transaction fee, and a 0.08% security fee billed monthly
Traditional IRA, Roth IRA, Solo 401(k), Solo 401(k) Roth, SEP IRA, and Simple IRA
$150 bonus when signing up
- Bitcoin, ethereum, litecoin, and several other cryptocurrencies available
- Supports IRA rollovers, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k)s
- Secure, cold-wallet storage
- Top-not security and encryption technology
- High setup and maintenance fees
- Only offers cryptocurrencies and gold
- Features: 24/7 trading, offline storage, and $250 million insurance
- Better Business Bureau rating: A+
- Awards: Earned the Mobile Web & App of the Year award for the 2022 Globee American Best in Business Awards
BitcoinIRA: Best for Beginners
BitcoinIRA is an industry-leading crypto IRA platform with an education-forward approach. It supports 24/7 trading of 75+ cryptocurrencies, including bitcoin, ether, litecoin, cash, and digital gold.
BitcoinIRA requires a $1,000 minimum to open an account.
You can set up an account in minutes for access to secure cold wallet storage, 256-bit encrypted SSL trading, and up to $250 million of digital asset insurance.
BitcoinIRA covers support services for retirement fund rollovers and lets you roll over funds from various retirement plans, 403bs or 401(k)s. With a tax-advantaged BitcoinIRA account, you'll get offline cold-wallet storage, a library of educational content, and a mobile trading dashboard.
Customer support is available by phone or email Monday through Friday from 9 a.m. to 5 p.m. PT.
BitcoinIRA has a rating of 4.4/5 on the Apple Store and 4.3/5 on Google Play.
Pros of BitcoinIRA
- Military-grade security, multi-key security, and encryption technology
- Secure, cold-wallet storage
- BBB-accredited business
Cons of BitcoinIRA
- High setup and maintenance fees compared to competitors
- Only offers cryptocurrencies and gold
BitIRA: Best for Storage and Security
BitIRA BitIRA is another popular IRA option for investors looking to add bitcoin and other altcoins to their retirement portfolio. It supports 17 cryptocurrencies.
BitIRA heavily prioritizes security and is equipped with multi-encryption, end-to-end insurance coverage, and offline storage for digital assets. Additionally, the platform provides $100 million in custody insurance to shield you against theft, destruction, or loss.
There's a $5,000 minimum to open an account. BitIRA's custodian is Equity Trust Company.
Pros of BitIRA
- Multi-signature authorization storage and management; end-to-end insurance with Ledger; $100 million in custody insurance
- BBB-accredited business
- Cold-wallet storage
Cons of BitIRA
- High $5,000 minimum
- Lack of transparency of trading fees
- Doesn't have a mobile app
Alto CryptoIRA: Best Investment Selection
Alto Solutions offers its AltoCryptoIRA account. It provides 250+ cryptocurrencies and other alternative investment options, including fine art, startups, real estate, private equity, and more.
Alto utilizes hot and cold storage and is integrated with Coinbase to access the Coinbase Exchange.
Trading with Alto offers tax-free cryptocurrency trading, market and limit orders, and 24/7 trading access. Alto IRAs are available as self-directed traditional or Roth IRAs.
Alto Solutions is not a BBB-accredited business but has a high A+ trustworthiness score. Customer support is available via phone or email from 6 a.m. to 3 p.m. PT during the workweek.
Alto CryptoIRA has a rating of 1.9/5 on the Apple Store and 4.1/5 on Google Play.
Pros of Alto
- Wide range of alternative asset classes available
- Offers 250+ cryptocurrencies
- Transparent pricing
Cons of Alto
- Limited market research and reports
- Not BBB-accredited
- The Google Play mobile app has a low rating, with user complaints about lagging, error codes, and platform freezing.
CoinIRA: Best for Ease of Use
CoinIRA CoinIRA is a low-cost cryptocurrency IRA company focusing on customer education and ensuring a positive investor experience.
The platform provides traders with consultants who can assist with crypto-related questions. It also offers a free crypto IRA guide about tax benefits, crypto retirement savings, inflation hedging, and more.
CoinIRA requires a $5,000 minimum starting investment, which is fairly high, but there are no start-up and maintenance fees or subsequent deposit requirements. There are no maximum purchase limits either.
Cryptocurrencies are stored in cold-wallet storage. You can also invest in precious metals through CoinIRA, which can be traded in a no-cost Digital Asset account or a separate Precious Metals IRA.
Equity Trust is CoinIRA's custodian for all Coin IRA accounts. It has complete control of users' digital assets.
Customer support is available via phone and email from 8 a.m. to 5 p.m. Monday through Friday. Saturday and Sunday assistance is available by appointment.
Pros of CoinIRA
- Access to consultants for crypto-related questions
- Cold-wallet storage
- BBB-accredited business
Cons of CoinIRA
- High minimum
- Doesn't have a mobile app
iTrustCapital: Best for Affordability
iTrustCapital iTrustCapital offers dozens of cryptocurrencies for traders interested in building long-term wealth through a bitcoin IRA. This affordable crypto IRA platform offers traders low-fee gold, silver, and other precious metals to diversify their portfolios further.
You won't be charged a monthly, AUM, or broker fee. However, the platform does charge a 1% flat fee per transaction. There's a minimum $1,000 to open an account.
You can fund your account using various methods, including IRA transfers (iTrustCapital supports traditional, Roth, SEP, and SIMPLE IRAs) and employer plan rollovers (available for 401(k)s, 403(b)s, thrift savings plans, and 457 plans).
iTrustCapital is partnered with third-party custodian Fortis Bank. Although the platform is not BBB-accredited, it does have an A- rating in trustworthiness.
iTrustCapital has a rating of 3.6/5 on the Apple Store and 4.1/5 on Google Play.
Pros of iTrustCapital
- Low trading fees and no monthly, ASUM, or broker fees
- A wide range of retirement saving account options are available
- Third-party institutional storage providers
Cons of iTrustCapital
- Not BBB accredited
- Cryptocurrency selection is limited compared to others on this list
What is a Bitcoin IRA?
Definition of the best cryptocurrency IRAs and how Bitcoin IRAs work.
Definition of a Bitcoin IRA
Bitcoin IRAs are individual retirement arrangements that invest primarily in top-performing cryptocurrencies, like Bitcoin and Ethereum. These accounts are a type of self-directed IRA that offers greater investment flexibility for high-risk, alternative investors seeking greater portfolio diversification.
How Bitcoin IRAs work
Bitcoin IRAs have the same contribution limits, withdrawal rules, and tax advantages as traditional and Roth IRAs. However, they pose significantly more risk because cryptocurrencies are extremely volatile in the market.
Why Choose a Bitcoin IRA?
A Bitcoin IRA can be an alluring investment option for those who want to avoid capital gains taxes while building wealth. You'd be subject to capital gains taxes for regular crypto transactions without an IRA. But self-directed IRAs eliminate those extra costs (or at least defer them).
Adding bitcoin to your retirement portfolio can further diversify your holdings and mitigate risk. Cryptocurrencies can also hedge against inflation, similar to other alternative investment options. Plus, the possibility of higher returns makes crypto investment alluring despite the significant volatility and risk of investing in decentralized currencies.
How to Choose the Best Bitcoin IRA Company
When choosing the best Bitcoin IRA company, consider:
- Fees: Compare the best Bitcoin IRA account fees for getting started, trading, and annual fees. Crypto IRAs typically have more complex fee structures than other IRA providers. So, make sure you carefully review potential charges and expenses.
- Security: Crypto exchanges and alternative investment firms are usually more susceptible to scams and fraudulent activity. Look for cryptocurrency companies that offer security measures like multi-signature wallets, cold storage, and insurance protection for digital assets.
- Cryptocurrency selection: Consider which cryptocurrency coins and tokens you want to access. Do you want to invest solely in Bitcoin? Or do you want to diversify your portfolio in a variety of assets? Crypto is a high-risk investment, but diversifying your portfolio can mitigate some risk.
- Ease of use: Evaluate the Bitcoin IRA user interface and how easily it is to navigate the platform and execute trades.
- Customer support: The top cryptocurrency IRAs provide responsive customer support, easy access to customer assistance, and multiple educational resources for beginners.
FAQs About Bitcoin IRAs
Is a bitcoin IRA a good idea?
Bitcoin IRAs are a good idea for cryptocurrency enthusiasts who are also retirement-focused. If you believe that cryptocurrencies, like bitcoin, will have a long-term value that can help you build wealth in the long run, you're a good fit for a bitcoin IRA.
What are the risks of a bitcoin IRA?
A bitcoin IRA can be risky due to the volatile nature of cryptocurrencies. Although volatile to the market, traditional assets like stocks and bonds are more closely regulated and do not fluctuate nearly as much as crypto. With a bitcoin IRA, there is a higher chance that your assets will drop in price or value.
What is the best IRA for crypto?
Bitcoin IRA is the overall best IRA for crypto. Bitcoin IRA is a robust trading platform for investors to build retirement savings with top-performing cryptocurrencies like Bitcoin and Ethereum. However, there are other good bitcoin IRA options like BitIRA and CoinIRA.
Why You Should Trust Us: How We Reviewed the Best Bitcoin IRAs
Using Business Insider's rating methodology for investing platforms, we researched numerous bitcoin IRAs to find the best options for cryptocurrency selection, fees, security, features, and more. Investment apps are given a rating between 1 and 5.
On the fee side, we paid close attention to account minimums and account setup fees/advisory fees. We also considered customer service availability when narrowing down platforms.
