Bitcoin has seen a meteoric rise in popularity in recent years, as its users have come to appreciate its many benefits. Instead of going with other tax-deferred investing options, people are more impressed with cryptocurrency investments and their benefits.
IRA’s – Individual Retirement Accounts – are a great way to invest money and grow your wealth over time. One option for investing in crypto IRAs is through a custodian/brokerage firm like BitIRA. BitIRA offers a variety of investment options, including Bitcoin, Ethereum, and Litecoin IRA accounts.
According to its customers, investing in an IRA through BitIRA is a great way to get started investing in cryptocurrency and grow your wealth over time.
But is BitIRA as good as it seems? What does BitIRA do? Continue reading to learn everything about BitIRA.
Let us start this BitIRA review by understanding the essential details about the company:
| Key Information | |
|---|---|
| Name: | BitIRA |
| BBB Ratings: | A+ |
| IRA Custodian: | Equity Trust Company and Preferred Trust Company |
| Currencies Supported: |
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| Main Features: |
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| Minimum Deposit: | $5,000 |
| Custodial Fees: |
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| BitIRA Account Types: |
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| Contact BitIRA: |
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What is BitIRA?
In addition to being one of the leading specialists in digital currency assets in retirement plans, BitIRA® works with clients across the country who wish to benefit from digital currency assets within their retirement portfolios.
The team at BitIRA strongly believes that Americans should be able to choose an even wider range of assets available to them within a tax-advantaged retirement account. Therefore, one of BitIRA’s primary responsibilities is to give their customers a clear understanding of how digital currencies can help them achieve their unique saving goals, providing them with a straightforward, simple method for doing so.
BitIRA was created by the team at Birch Gold Group, a national leader in helping Americans buy precious metals for their individual retirement accounts. As a team, their members have over 100 years of experience managing IRAs. They have a dedicated, internal IRA department that handles most of the work involved in setting up a Digital IRA. Their clients include Fidelity, Edward Jones, and Merrill Lynch, among others. In other words, BitIRA knows the fastest, most efficient, and most secure ways to get digital currencies into retirement.
Investment in Bitcoin Cash and other cryptocurrencies is safe with BitIRA. Individual retirement accounts are protected by five layers of security. Their digital wallets are protected from hackers. They also provide strong authentication, multiple encryptions, and end-to-end insurance coverage, which ensures that your crypto savings are protected, and account holders are ensured.
Investing in alternative investments through BitIRAs allows investors to make the most of their retirement savings. You can choose from seven different cryptocurrency options with this firm to use your digital currency IRA. Despite the fact that BitIRA is not a self-trading system, it is a popular one among digital currency investors.
How Does BitIRA work?
In the beginning, setting up a Digital IRA might seem complicated. However, never let this feel overwhelming.
When you roll over your existing IRA account, you can keep all of your existing retirement funds in your Digital IRA without incurring any penalties or distributions. If you prefer, you can also open a new Digital self-directed IRA account and keep the current retirement account as well.
We will show you how to create your Digital IRA (individual retirement account) with BitIRA.
However, before moving forward, remember that the Digital Currency Specialists at BitIRA will be able to provide the following support:
- Paperwork completion
- Managing IRA rollovers
- Explanation of asset options
- Assuring security
- Supporting contributions and distributions
- Supporting the client on a continuing basis
Here is how BitIRA will work to get started with you:
Creating Your Digital IRA Account
Self-directed retirement accounts, such as digital IRAs, offer freedom and flexibility. Therefore, you have complete control over retirement investments in the account, but the account must still be legally administered by a qualified custodian.
With BitIRA, you can fully self-direct your individual retirement account by working with Preferred Trust Company or Equity Trust Company, two of the most popular IRA custodians in the industry.
You will need to submit BitIRA’s digital currency specialists with a few documents. Then the BitIRA team will handle all the paperwork and administrative tasks for you. Apart from your input on a few questions, as well as your consent and signature, you are hardly required to do any work. In general, new accounts take a few weeks to be ready.
Fundings & Asset Rollovers
However, the entire rollover process may seem long; you can now accept funds and assets from your existing accounts through your new self-directed IRA account once it’s set up. Together with the IRA Department, your Digital Currency IRA Specialist will assist Equity Trust and your old custodian in completing the initial funding and asset transfer. This will be done with an eye on minimizing hidden fees and penalties.
Connect To Your Wallet and Exchange
A new IRA account is stocked with digital currencies, which are bought and sold on exchanges and stored otherwise. BitIRA is partnered with Genesis, an exchange that is popular with investors.
Moreover, your Digital Currency Specialist sets up access to their corporate account with their partner trading exchange Genesis. The firm has provided fast trading and stable quotes, as well as a next-business-day settlement since 2013. On every trade, you’ll receive the same level of service that their heavyweight clients enjoy with $10 million or more in assets.
Trading & Investing: Get Started
All setup steps have been completed, and your money transfer becomes available! Now that you can purchase digital currencies, you can place them in your IRA. Using our wallet lookup tool, you can view the holdings of your account 24/7. Furthermore, a financial consultant Specialist is available to help you place orders within the account.
BitIRA – Benefits & Features
Bitcoin IRA companies are available today in a variety of shapes and sizes. Nevertheless, BitIRA claims that it offers unparalleled security and safety. Bitcoin IRAs were placed into BitIRA’s cold storage for the first time. They offer the world’s best insured cold storage solution for Digital IRAs. Today, BitIRA continues to emphasize a high level of security for your Bitcoin IRAs.
These are a few of the benefits and features you get with BitIRA:
End-to-End Insurance
Using BitIRA, you will receive end-to-end protection for your digital currency. While in transit or storage, your digital currency is protected from hacking, espionage or theft, physical loss, damage, and fraud. Many crypto IRA companies provide insurance. However, they don’t cover the coins. Several London insurance companies with A and better ratings from S&P provided BitIRA with $100 million of insurance coverage. You are insured for up to $3.75 million for your cash in your Equity Trust Company account.
Multi-Factor Authentication
BitIRA uses Multi-Factor Authentication. It is a security feature that helps protect your identity by requiring you to provide several pieces of information in order to log in or access your account. This can include a password, a 2-factor authentication code, or a fingerprint scan.
Multi-Encryption
This is a secure cryptocurrency IRA platform. Multi-encryption is a security feature that helps protect your data from being accessed by unauthorized users. BitIRA works by encrypting different parts of your data using different keys so that even if one key is compromised, the data still remains secure.
A real cold storage facility
BitIRA claims that your crypto holdings are protected by being stored on a device that is completely cut off from internet access (They are stored offline in a cold storage device). You do not have access to your cryptocurrency until you need it. According to BitIRA, your funds are stored in grade-5 nuclear bunkers that are watched over by specialists 24/7, offering a level of security that no other bitcoin IRA can match.
CCSS Compliant
The setup approach of BitIRA’s bitcoin IRA is compliant with Level 2 CCSS. Cryptocurrency security standards (CCSS) are designed to ensure the safety and soundness of cryptocurrency systems. CCSS consists of best practices for protecting cryptocurrency systems from a wide range of attacks.
The goal of CCSS is to protect the networks, wallets, and users from known and unknown cryptosystem vulnerabilities. CCSS also aims to improve the resilience of cryptocurrency systems against future attacks.
BitIRA Reviews – What Do Customers Say?
BitIRA is no doubt a great platform for people who want to invest in Crypto IRA. However, our research and editorial team proceeded with our research further and checked some BitIRA reviews online to clarify if it really is making any difference than other platforms. Here is what the customers have to say:
Avril W. writes that when he was comparing their services with other options for purchasing bitcoin for retirement, he realized they were one of the best. He also liked the competitive fees offered by BitIRA.
Nathaniel L., a user, writes in its BitIRA Review that in the beginning, he was very hesitant to work with any company in this area. The professionalism shown by BitIRA convinced him otherwise. Their registration with the government was also of note to him. Nathaniel felt pretty comfortable with that.
Christopher M., during his search for companies, came across BitIRA, which instantly stood out from the crowd. The guys at BitIRA have a lot of knowledge, and their fees are very competitive.
Overall, BitIRA seems sort of an effective get-rich money scheme. Most customers are satisfied with the investment advice and storage costs of BitIRA. These are just a few reviews. While visiting the official website, you can find several positive reviews from different sources like Google, Yelp, Better Business Bureau, and others.
Pricing Details
The fees associated with BitIRA are similar to those of other IRA setup specialists. You will be charged fees for setting up your Bitcoin IRA once, storing your crypto funds in a secure facility, and maintaining your Bitcoin IRA. Here are the fees and charges:
- Setup Fee: $50
- Minimum Investment Amount: $5,000
- Annual Account Maintenance Fee: $195
- Storage Costs: 0.05% per month
Frequently Asked Questions About BitIRA
What are digital currency IRAs?
Digital currency IRAs are retirement accounts that allow you to invest in cryptocurrencies like Bitcoin and Ethereum. These accounts are managed by a third party and offer the same investment options as traditional IRAs, including stocks, bonds, and mutual funds. You can also use these accounts to purchase digital currencies.
What are digital assets?
Digital assets are basically any asset that exists in a digital format. This could include digital files, website content, or even cryptocurrency investments like Bitcoin, Ethereum, and other crypto-assets. Digital assets can be used to purchase goods and services online, store value, or pay for other digital transactions.
Can you transfer cryptocurrency from another IRA to a new BitIRA account?
Occasionally, yes. When they distribute your cryptocurrency, Equity Trust Company, their partner custodian, may be able to accommodate any wishes you may have regarding keeping your cryptocurrency rather than converting it into cash.
Is BitIRA safe?
Yes, they are. The platform offers five layers of security and safety to protect individual retirement accounts. Here, you can invest in your own personal circumstances and be sure about security. In case of any confusion, you can consult your own investment or certified financial advisor.
BitIRA Reviews – Final Words
BitIRA is the World’s Most Secure Digital Currency IRA. It enables you to diversify your retirement savings, buy and sell digital currency, and alternative assets within the IRA. IRAs with BitIRA are a great option for cryptocurrency enthusiasts who want to protect and secure their investments.
Trading cryptocurrencies is made simple with BitIRA. The company offers a range of IRS-compliant IRA account types, each insured to the tune of $100 million. In case your financial services company has no option for crypto, BitIRA is all you need.
If you would like to know more about BitIRA and gain access to their platform, please visit the official website here! >>>
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Disclaimer:
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