Gold Retired

What is BitIRA? – You might want to know this about them

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This review is about BitIRA! What is BitIRA? How is it different? What are the products and services it offers? Hello everyone and welcome to another review on Gold Retired! This time we’ll be changing things up a little and looking at a different type of IRA providers. Without further ado, let’s get started!

Company: BitIRA

Website: www.bitIRA.com

Owner: Birch Gold Group

Who is it for: People looking to invest in a digital currency IRA.

Overall rating: 4.5 out of 5 stars (4.5 / 5) 

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Important to mention before we go into more details of this review:

We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden-fees” so please investigate thoroughly before you make your decision.

==> See our #1 recommended (100% transparent) Cryptocurrency IRA solution  <==

With that being said, let´s continue with the review on BitIRA!

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What is BitIRA?

Located in Burbank California, BitIRA is a digital currency IRA provider. It was founded in late 2017 by the Birch Gold Group and employs 21 people.

This company is different since it offers its clients the chance to include digital currencies in their retirement accounts. As a matter of fact, in March 2014 digital currencies became eligible assets to be held inside IRA accounts.

Due to the complexity of opening a digital currency IRA, BitIRA was founded with the goal of solving that problem. Here is a screenshot of BitIRA’s physical address:

How do their digital currency IRAs work?

Digital currency IRAs are a great opportunity to make the most out of the multiple benefits of these currencies.

You can open a self-directed digital currency IRA with this company and also add Conventional IRA assets such as mutual funds, as well as other alternative assets like precious metals.

Here’s an excerpt from the BitIRA website explaining the process of creating the account more:

After you provide your Digital Currency Specialist with a few key pieces of documentation, the team at BitIRA will complete the required paperwork and administrative tasks to open your new account. Beyond your input on some questions, plus your approval and signature, you hardly have to do any work. Most new accounts are ready within a few weeks or less.

It’s crucial that you know everything about the tax implications that come with this particular type of IRAs before making your decision. It’s also really important that you compare companies and check out all the competitors, to find what suits you the best.

**Want to see what Bitcoin (and other cryptocurrencies) IRA solution I would recommend? Click here

IRAs offered?

Here’s a screenshot that shows the different types of Cryptocurrencies offered (that you can put inside your IRA ) by BitIRA:

  • BitcoinWhat is BitIRA
  • Bitcoin cash
  • Ethereum
  • Ethereum Classic
  • Litecoin
  • Ripple
  • Stellar Lumens
  • Zcash

 

IRA fees?

BitIRA is partnered with Preferred Trust Company. They don’t display the IRA fees directly on their website. You must contact them to get an idea about these fees.

P.S.

I honestly didn’t like that and would’ve preferred to learn about their fees directly on their website. The reason for this is because most of the rip-offs taking place in this industry are with so-called hidden fees, so you always want to be perfectly clear on what exactly you are going to have to pay for before you sign anything.

100% transparency is what you want from your IRA custodian.

==> Want to take a look at our #1 recommended Bitcoin IRA solution instead? (100% transparent alternative)

Countries allowed?

The website also doesn’t include information about the countries BitIRA allows.

What you might want to know about BitIRA

Worth to mention here is that we have reviewed Birch Gold Group (sister company of BitIRA) a while ago on this website and we do not recommend them as there are simply too many complaints on them.

Below is just one example of many:

[Source: Yelp.com]

You can read our full review, and see ALL of the complaints on them here on this page.

P.S.

Want to play it safe instead?

Our #1 Recommended company offer Digital currency IRAs too!

==> See why they are #1 rated instead

Online ratings, reviews, and complaints on BitIRA:

We always insist that you go through different renowned review website and see all the reviews about different companies before making your decision.

Here is what the top review sites say about BitIRA.

BBB

Rating: A- Click here for more information(opens in new window)

Trustpilot

Rating: N/A

Trustlink

Rating: N/A

Yelp

Rating: N/A

The conclusion from this: 

There are several positive customer reviews on the BBB website. But, keep in mind that the company is still new, the BBB gives it a rating of A- and there aren’t more reviews about it on the other websites.

**If you want to look at the absolute #1 rated Bitcoin IRA company then you might want to check out Regal Wallet instead.

Do you Own or Represent BitIRA?

If you are a representative, or associate of BitIRA and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or you can send an e-mail to contact@goldretired.com

Final Words and Verdict

Verdict: Legit

Overall rating: 4.5 out of 5 stars (4.5 / 5)

Okay, I think that sums up everything about BitIRA. The reviews on the BBB website are promising but the company is still new, it would be advisable to work with companies who have been around for a longer period of time.

Still, BitIRA has some great features and they might be worth considering for you. However, keep the red flags in mind and make sure you compare them to different alternatives.

What IRA company do we recommend?

You made a wise decision to read this review and you are a smart person. I am absolutely sure that you will find the right company that suits your particular needs the best. I would advise you to compare different alternatives against each other before you make a decision. Below you got my absolute #1 recommended IRA custodian:

Click here for my #1 recommended Crypto IRA solution!

I really hope you found this short review of BitIRA useful. Since you now know what BitIRA is, I urge you to leave any questions or remarks you might have about it in the comments below. I’ll be more than glad to answer.

Until the next one,

Michael

Owner of: Gold retired.

Blockchain Technology Threatens U.S. Reserve Currency Status

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Most people are unaware that the major international banks cannot operate without unrestricted access to the U.S. banking system. This is because the dollar is the world’s major reserve currency.

In order for the multinational banks to perform transactions internationally, they must have the ability to settle these transactions in dollars. Otherwise, they are out of business.

The U.S. banking system functions as the gatekeeper for the U.S. dollar in this way. Yet thanks to actions of the Obama administration, this system is under assault today. In 2014, the U.S. administration fined the French banking giant BNP Paribas a hefty $9 billion because it was working with nations the U.S. was against like Iran and Cuba.

The French bank had not broken any of France’s laws. Yet still, they had to pay this punishing fine because they had transgressed against U.S. laws. BNP Paribas attempted to resist the fine but was warned by the American government that they would be rejected from the U.S. banking system if they did not comply.

Needless to say, they paid because they could not afford to be cut off from the U.S. dollar as a settlement currency. The $9 billion was a stiff penalty. Losing access to U.S. dollar settlement would have ruined them though.

Under the Obama administration, other banks have suffered similar fates. British banking giants HSBC, Standard Chartered, and Barclays have also been fined billions as well. Swiss banks Credit Suisse and UBS paid billions in fines for helping U.S. taxpayers evade taxes. This was also not a crime in Switzerland, but it did not matter.

The end result of this aggressive persecution of foreign banks is that the banks quietly began looking for a way to get around U.S. bank and dollar settlement. They found blockchain technology as the answer to their problems. It offers banks a simple and effective means for sending payments to each other directly.

This idea saves them the costs of moving money inefficiently around the U.S. correspondent accounts. More than that, it frees them from having to keep trillions of dollars of funds in U.S. accounts. Soon it will end their dependence on the U.S. banking system and U.S. dollar settlement entirely.

How serious a threat is this? Four of the biggest banks on the planet have just revealed a brand new combined effort to develop a means for settling transactions based on this blockchain technology. Swiss UBS, Spanish Santander Bank, German Deutsche Bank, and American Bank of New York Mellon call this Utility Settlement Coin.

And these major players are not the only ones committed to this type of project. Another group of 15 different Japanese banks has signed on to implement rival technology Ripple backed by Google Ventures. It will similarly allow them to settle their financial transactions directly.

This is not something that will only shake up the U.S. banking system and dollar reserve currency status years from now. The Ripple system is already up and running. Dozens of more banks will be participating within 6 months. As for the new Utility Settlement Coin technology, the goal is for it to launch commercially in only 18 months.

International banks will finally achieve their independence from the U.S. regulators who abused their power. Wall Street banks will lose their lucrative foreign correspondent accounts and financial tolls. Foreign banks will no longer need to keep trillions of dollars in the U.S. and purchase American government debt with it.

The Federal Reserve is aware of the threat and has issued a warning that this type of financial technology could create instability in the American financial system.

Protect your portfolio

You can protect yourself from attacks on the U.S. banking system and the dollar. By using a part of your assets to purchase gold, you gain the protection of the greatest financial and currency hedge of all time. Consider acquiring some now before the Utility Settlement Coin and competing technologies reduce dependence on and the value of the U.S. dollar.

==> Click here to See the Top #5 List of Gold IRA Providers <==

I hope you found this short post to be helpful, as always if you got any questions I will be more than happy to answer them below!

Please share this by using the share buttons below (Facebook, Twitter, etc)!

I wish you success!

Michael,

Investor, Student, and team member on Gold Retired

Avoid Bitcoin Scams – Read this and NEVER get scammed again

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avoid Bitcoin scams | Gold RetiredThis short post will explain to you how to avoid Bitcoin scams once and for all. It is a short 3 minute read that will educate you enough in the subject so you can feel comfortable moving forward in your cryptocurrency investing journey.

The topic is very hot right now, and will (most likely) continue to be in the coming months and years. And it is also the industry that is absolutely most flooded with scams so I feel this post is an important read.

Ok, let´s get started!

First – Biggest Mistake Crypto Investors Are Making

The (without a doubt) biggest mistake crypto investors are performing right now is that they fall for the scam coins out there. It is easy to see why! Aas people get bombarded constantly with “new coins” and hear how many great things the new coin can do. Including the earning potential and so on. This creates FOMO (fear of missing out).

I know, and I absolutely understand that it can be very tempting to invest in a new, super cheap coin… especially after listening to a rant (from the con artist) on how good of a future the coin has ahead of it.

They relly in their victims with their “tech talk” that you (most likely) do not understand a fraction about. He (or she) use words like ICO, Blockchain and other crypto related words that you might have heard a few times in your crypto journey.

You nood your head and agree, mostly to not look stupid, right?

And… you want to believe that what he said is true. I mean, who do not want to find an opportunity to become very wealthy, right?

Many times they say things like: “you missed the Bitcoin train. But… with this new coin (whatever the name is) there is still time to jump on the train.

You might start to think about the Bitcoin millionaire kid you saw on the news… and then you put your disbeliefs aside…

Then… you end up giving your hard earned money (that you never see again) to the scammer and his fake coin.

You will never see your money again… I know how that feels. I have been scammed myself on different occasions in the past.

The scam artist know exactly what he is doing. This is a classic scam tactic that has been around for a very long time. The obvious reason it still exists is that it works.

They (the scammers) might sound very smart to the uneducated (in the subject) person, but in reality… they are VERY stupid.

The scammers will ALWAYS take advantage of a new exploding market like cryptocurrency is. Subsequently, you also need to know is that the sad truth is that around 95%-99% of the crypto coins out there are scams.

Avoid Bitcoin Scams – This is how

avoid Bitcoin scamsAs mentioned above, the scam artists always going to thrive in every new great market. It happened in the dot.com boom, and now it is happening in the crypto boom.

Everywhere you look online there is a new coin to mine, or a new product to invest in that promise you SKY HIGH returns. You better understand (and fast) that pretty much ALL of them are scams. Their only purpose is to make the con artist rich, and trust me they will be rich. That is also a very sad truth.

Now you see them, now you don´t

Trust me on this one, most of the coins you see today won´t exist in a couple of years. Most people cannot see this. The other week in my local grocery store, the guy who works there told me he had invested in a new great coin.            He  even wanted me to invest in them, buying from him or “under him” as he called it. I knew at that exact moment (when he said under me) that he had been scammed into a so-called Ponzi scheme (pyramid scam).

The coin he wanted me to buy from him was named OneCoin, maybe you have heard about that one?

This stuff is everywhere and just waiting for someone to fall into the trap that they in reality are. Unfortunately, most people cannot see through those traps. This is also the reason why I write this post today. I am really really tired to see people getting scammed over and over again. Good people, even friends and people I know and like (like the grocery store guy for example).

Here is a general rule of thumb you want to stick to before even considering investing in a new coin:

  • If it started (or starts) with a BIG pre-mine (Like DASH) then you (most likely) want to stay away
  • If it is exclusively mined by a central authority (Like STEEM) then be careful
  • If it doesn´t solve any problem in the real (offline) world then it is not even worth looking at
  • If it claims to solve A LOT of problems, then it is (most likely) very hyped
  • If it does not have a strong community on social media, then it will probably never be worth anything also

IMPORTANT TO MENTION:

The absolute #1 rule of them all that you should follow is: Avoid ALL of the new coins you come across until you are sure what you are dealing with. ALWAYS.

P.S.

Some bad news: Cryptocurrency is a very complicated subject and to be able to 100% know if a coin is legit or not is to read the actual software code that created it.

Some good news: Unlike the dollar, the software is available for anyone to read

What coins are best to invest in then?

What coins are best to investI will try to give you a short and simple answer to this. First of all, as mentioned above, avoid ALL of them. At least until you are educated enough to know what to look out for and understand how to spot the warning signs.

Please do NOT invest a single dollar if you aren´t sure.

However, this shouldn´t scare you from thinking that you will never find a new coin that got the potential to rise and explode in value because I strongly believe more such coins will be created. But trying to find them without knowledge is going to be like “finding a needle in a pile of hay”.

What characteristics do LEGIT profitable coins ALWAYS have?

  • ALWAYS have a limited supply
  • ALWAYS follows the main philosophy: Secure (if I send money to you, you get it first and in first hand), decentralized (no geographical boundaries), anonymous (no one needs to know), forgery-proof (no duplicate money is possible)
  • ALWAYS solves a problem in the real world that bitcoin isn´t already solving

IMPORTANT: If the coin you come across doesn´t fit in at least the criteria below then run the other direction

So, in short:

My advice is that you buy the ones that we know are legit, such as the most well-known Bitcoin, Ethereum, Litecoi, etc. At least until you are educated enough to go for new coins.

Where can you start?

It is very easy to get started to buy Bitcoins and other cryptos, you can do it in minutes with a credit card for example. What I would say is the most important thing is that you need to store it off-line?! At least if it is an amount that you cannot afford to lose. I suggest you keep your coins that you plan to use (for example for trading, or buying stuff) on different online wallets. However, if you plan to just invest and sit on your investment (hodl) then you should keep it offline as it then becomes hacker proof.

==> Here is my #1 recommended place if you plan to invest $10,000+ (worlds safest storing)

==> If you plan to invest less then you can have a look at the $1,000 + or – investing page

I hope you found this short post on how to avoid bitcoin scams to be helpful. In view of having a better understanding now on how to do just that. Also  how to find opportunities among the endless scams out there. If you have experienced being scammed on a “new coin” please share your experience in the comment section below as it can help others. Also, if you got any other questions about this I will be more than happy to answer them below!

Also, please, if you want to be part of the solution make sure to share this by using the share buttons below (Facebook, Twitter, etc)

I wish you success

Michael

Founder of: Gold Retired

What is a Bitcoin IRA | Should You Go For It Now Or Wait?

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In this post, we will discuss a very hot topic named Bitcoin, in particular, a Bitcoin IRA. What is a Bitcoin IRA and how does it work? Is it really possible, as they say, that you could see 10-20x gains on your retirement account in only 1 short year? Should you act now or is it better to wait a bit and see how things develop? Who is this kind of investment for? Will it be something for you or not? These are just a few of the questions this article will focus on.

Ok, with that being said, let´s get started to uncover one of the most relevant and hot topics of today!

[Read more…]

How To Invest In Bitcoin | From Your Retirement Account

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This article will answer a question that more and more people are want to know the answer to, and that is how to invest in bitcoin from your retirement account. The question is more than hot right now and will continue to be for the coming months and years ahead.

How To Invest In Bitcoin

With economic superpowers like Japan legalizing bitcoin as one form of payment, eBay accepting it as a form of payment, one billionaire after the other investing in it, and so on.

This WILL, of course, make the HUGE Amazon (the worlds biggest online retailer) accept it is a payment form also, they won´t stand aside while one of their biggest competitor eBay has the option, right?

With people like Bill Gates saying cryptocurrencies are “the future of money” and Mark Cuban also investing into it just to name 2 big brains (the list goes on) it is hard to not take the topic seriously.

Well, at least if you aren´t a stubborn “dinosaur” thinking that the economy will be better and the government and banks will save you in the end…

Just like when the internet came and people didn´t see the value it would bring, that it was just a “trend” and something that will pass…

Well, history has a funny way of repeating itself… The ones who invested in companies like Microsoft, Facebook, Google, Twitter, etc in the early days got very rich…

is regal wallet legit

 

What do you think will happen with the value of Bitcoin when Amazon accepts it as a payment option?

We have (most likely) not seen anything yet on how high the value of it can really go…

You have to remember that there cannot be printed more bitcoins, they are limited (21 million coins). Limited supply ALWAYS makes the price rise. Always.

Below are some other “big brains” and their predictions on Bitcoins:

 

 

I mean, if someone knows it is people like this, that have an expert understanding of “tech things” and financial predictions on where things are going, right?

Continue reading below to see how you can start to invest in bitcoin right away from your retirement account.

How To Invest In Bitcoin – From A Retirement Account

 

You have 2 ways in how you can invest in bitcoin from your own retirement account. One is not really recommended, and you will understand why when it further down. The other option though is absolutely worth to consider.

As you already might know, typical IRA custodians mostly accept “the regular” assets, such as stocks, mutual funds, bonds, etc.

A bitcoin IRA is not linked to any systematic risk that affects ANY of the other “normal” IRA investments. If it all crashes, it´s best to have your “risk” spread into investments that are not “wall streetish”

Your best option for having bitcoins in a part of your retirement account is a self-directed IRA. When you do this you can then buy and hold bitcoins (or other cryptos) or you can also buy shares of bitcoin-dedicated funds (I would go with the first option instead of the second…)

If you want to rearrange some of your retirement funds by using a self-directed IRA you got 2 options:

  1. You can set up an LLC for IRS compliance. (This consists of setting up an LLC for the bitcoins you own, going through all of the rules and red tape, sell your bitcoin, contributing the money to the IRA and then buying it in the name of the LLC with its own assets.
    (This I would call a completely stupid way to go with your bitcoin investing endeavors… Not recommended at all (in my humble opinion). I mean, this is exactly the things bitcoin was created to AVOID.
  2. Check out Regal Wallet. Regal Wallet helps people all around the world roll over their retirement funds to bitcoin (but also Ethereum and the other biggest legit coins on the market). They help you secure your crypto investment in cold storage (worlds safest storage), and listen to this, also FULLY insure it for you in case of any kind of unforeseen disaster. If you are interested in rolling over some of your retirement funds into bitcoin, or why not Ethereum? Then it´s absolutely worth to check this out. Otherwise, you´ll be having a lot of issues and complications and absurd hurdles to get a big headache from. Other (smart) investors will look at you like you are stupid.

Click here to see yourself and learn more!

I hope you found this short article on how to invest in bitcoin from your retirement account helpful and now you should have enough info to get started. If you have any questions about this I will be more than happy to answer them in the comment section below.

Please, if you think this article can help others make sure to share it by using the share buttons below (Facebook, Twitter, etc)!

I wish you success!

Michael

Founder of: Gold Retired