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!
Owner: Unknown (Not a good sign)
Who is it for: People looking to invest in a digital currency IRA.
Overall rating: (3.4 / 5) Not recommended
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.
With that being said, let´s continue with the review on BitIRA!
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
Here’s a screenshot that shows the different types of Cryptocurrencies offered (that you can put inside your IRA ) by BitIRA:
- Bitcoin cash
- Ethereum Classic
- Stellar Lumens
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.
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)
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:
You can read our full review, and see ALL of the complaints on them here on this page.
Want to play it safe instead?
Our #1 Recommended company offer Digital currency IRAs too!
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.
Rating: A- Click here for more information(opens in new window)
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 else you got the e-mail on the about page.
Final Words and Verdict
Verdict: Legit (but not recommended)
Overall rating: (3.4 / 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:
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,
Owner of: Gold retired.
- Safe storage
- Accredited by BBB
- Not transparent
- Not many reviews online