Today we review Bitvest IRA for you. What is Bitvest IRA? a Scam or a Legit company? How does it work? Are there better alternatives? This is just a few of the questions we help you answer today!
Name of the Company: Bitvest IRA
Official Website URL: https://www.bitvestira.com/
Owner: Bitvestmint LLC
Overall rating: (3 / 5)
Recommended? : Not recommended
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The hunt for reliable companies to invest through continues to intensify. With many start-ups being created every single day, it is quite crucial for customers to stay updated about which companies they can trust and those ones that they should stay away from. In this review, therefore, I will be scrutinizing Bitvest IRA, as I seek to establish its reliability. By providing answers to the following questions, I am sure that I shall have close to a viable conclusion that I can share with you:
– What is it about?
– How does it work?
– Which products and services do it offer?
– Is it genuine?
– Are there any investment opportunities offered at Bitvest IRA?
– What are its unique pros and cons?
What is Bitvest IRA?
Bitvest IRA is a financial services company that helps its clients purchase and store valuable cryptocurrencies with the aim of growing the funds that they have put aside in their 401(k) savings accounts and their Individual Retirement Accounts. Bitvest sets itself apart from its competitors by offering massive discounts, amounting to 20%, of every purchase that a client makes. This company seeks to protect your interests, thus does not hire salespeople who are out to fulfill their personal interests regardless of whether you gain or lose.
Bitvest IRA also prides itself on having a team of highly qualified business and entrepreneurship professionals who double up as Bitcoin enthusiasts. Having found its way into the market as Bitvest Digital Mining, a bitcoin mining firm, this company has managed to mine more than 18000 BTC so far. In 2016, this company formed its first subsidiary, Bitvestmint.com, which was at the time offering bitcoins for sale at discounted rates.
As of now, Bitvest IRA can legally be viewed as a d.b.a of Bitvestmint LLC. It happens to be one amongst the countable companies that have already been approved to provide bitcoin IRAs to clients.
How does it work?
Bitvest IRA is a very consumer-centric company whose objective is to see to it that you walk away satisfied. This company takes charge of the Bitcoin IRA account that you create with them, and works with its tax partners and CPAs to see to it that you reap maximum benefits.
Once the investment structure has been completed, you usually get checkbook control over the retirement funds you have set aside. This enables you to:
-Invest in cryptocurrencies
-Invest in tax-free IRAs.
The major benefit of having checkbook control is that you can authorize the transfer of funds by simply writing a check or through a wire transfer, and you can through this approach minimize the expenses associated such transfer transactions.
Products and services offered?
Bitvest IRA does not offer its customers some specially-branded products. It only provides them with the opportunity to have an investment portfolio that includes cryptos. Bitvest does this through one of two ways:
1. Offering a Bitcoin IRA platform-Bitvest IRA is one of the few approved companies that offer bitcoin IRA. With such a platform, you can rollover the cash saved in your 401 (k) savings account or your IRA, or you can simply do a wire transfer from your bank to fund the newly created Bitcoin IRA.
2. Bitcoin –This Company also offers clients the opportunity to buy Bitcoin forward. This contract usually comes as an agreement between the client and Bitvestmint LLC.
Note that there is no mention of the provision of Bitcoin storage services, thus you are required to make arrangements for that prior to the purchase. This is particularly important for the clients who buy bitcoin forward, to know.
Is Bitvest IRA a Scam or is it Legit?
Bitvest IRA is a legit company that deals with the provision of genuine services. This company provides its contact information on its website, for those customers who would like to ask questions about the services it provides to use. The information provided is as follows:
Physical address: Bitvestmint LLC. 7777 Glades Road Boca Raton, FL 33434, United States of America
Phone Number: 1 844-248-8378
Email address: support@Bitvestira.com
There is not much information about Bitvest IRA that you can access on various consumer trust sites, though this can be owed to the fact that this company has not been around for a long time. Nevertheless, there are other companies in this niche which have managed to become public sensations despite being in the industry for a short time, hence the duration of the operation is not a solid excuse.
Bitvest IRA, however, reveals about its partnership with Madison Trust Company which offers the self-directed IRA services. Even without much information about Bitvest IRA, clients can automatically trust the products it offers to its clients since it has Madison Trust on board. Madison Trust is a government-approved and regulated company whose legitimacy cannot be put to question, and it is only logical to state that it accepts partnerships that would not tarnish its reputation. Madison Trust, for instance, has an A+ rating on BBB (https://www.bbb.org/us/sd/sioux-falls/profile/financial-services/madison-trust-company-inc-0714-300089376), and this works to confirm the fact that quality services are extended to Bitvest IRA through the provision of excellent client support and through the dissemination of specialized knowledge about this industry.
One thing about Bitvest IRA is that it does not fully disclose its terms of operation to its clients. The information available on its website is too scarce for them to rely on it to make a decision. Such is not a perfect example of what a company like this one should be projecting to the general public.
Bitvest IRA offers its customers the opportunity to create investment income through creating a self-directed Bitcoin IRA that is managed in conjunction with Madison Trust Company. You can also buy Bitcoin forward and earn from holding this cryptocurrency for a short period. Thing is, Bitvest IRA is out to support the growth of your investment portfolio through the provision of access to the cryptocurrency assets and a cryptocurrency IRA platform to invest through.
Pros and Cons
It is always wise (and recommended) to compare the positive sides against the negative ones to get a better overall view of something. As always in our reviews we provide you with some clear points on both sides of the spectrum:
-Works in partnership with Madison Trust, which is trustworthy
-Clients can buy Bitcoin forward (and on discount).
-Does not have a tarnished reputation.
– Not much information is availed about it on how it works.
– Does not offer information about the fees it charges.
-Does not offer bitcoin storage services.
Do You Own or represent Bitvest IRA?
If you are a representative, or associate of Bitvest IRA 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 / 5)
Ok, I think that sums up the overall view of Bitvest IRA pretty good. It is a legit service for sure, however, if it is the right one for you or not is something you have to decide yourself.
You made a wise decision to read this review and you are a smart person so I am absolutely sure that you will find the right company to do business with that suits your particular needs the most.
What I would recommend?
There are many similar services out there. I have many IRA service providers listed on this website, mostly for precious metals and Bitcoin but also for other alternative investments. You can find the best from 2 worlds that I can recommend below:
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I hope you found this short review of Bitvest IRA to be helpful and that you now have a better understanding of what it is and if it is something for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you success!
founder of: Goldretired.com
Therese Larsen says
I started investing my retirement funds with Bitvestment in October 2017. I invested $230,638 in several forward based contracts. When the contracts came due I received very few or no bitcoins.
I received 3.05043141 bitcoins in my Roth IRA and 1.83536166 bitcoins in my IRA. Bitvestmint owes me
49.7542069 bitcoins. At today’s price of $8,651.93 the value of the arrears $430,469.91. Do not invest with this company. I do not think I will ever receive the bitcoins they owe me…
First of all, thank you for yor comment and letting us know about this.
Wow, sounds really really bad to be honest, have you tried to contac them and asked what is going on?
Yun Kang says
I am another victim like you. Bitvestment owes me over 40K. They refused to pay saying it is not profitable to mine until Bitcoin price reaches $18000, which I believed and patiently wait for the return of a bull market. Yesterday I tried to contact them for the first time since May this year, but to my surprise they closed their websites, phone line and email address without leaving any trace. I am now trying to find more victims like us so that we could make a group effort. Please file a complaint in BBB and Florida attorney general website. The more people do this, more likely they are willing to help us out.