What is IRA Bitcoin? How can it help you achieve your financial objectives? Is it unique from its competitors? these are some of the questions that we shall be addressing in today’s review. In order to help you make an even more solid decision about IRA Bitcoin, we shall address the questions under the following subtopics:
- What is IRA Bitcoin about?
- How does it work?
- Which custodians does IRA Bitcoin work with?
- Does IRA Bitcoin charge any fees?
- What is the least amount of money that you can invest through IRA Bitcoin?
- Is IRA Bitcoin genuine?
- Pros and cons?
Name of the company: IRA Bitcoin
Official website URL:https://irabitcoin.com/
Overall rating: (3.7 / 5)
Recommended: No. Have a look at what Regal Wallet has to offer.
Cryptos are very valuable and highly likely to help you grow financially. Here is how you can go about investing in a crypto IRA in a safe way.
What is IRA Bitcoin about?
IRA Bitcoin is a firm that offers investors the chance to invest their money through a Bitcoin IRA. This company’s objective is to offer the safety and convenience that investors may not get with other companies. As an investor, you can benefit from IRA Bitcoin through investing in Ethereum, Litecoin, and Ripple. These are cryptos that you can purchase with the funds in your IRA or 401k.
With a Bitcoin IRA, you are assured of a tax-advantaged investment, since IRA Bitcoin is an IRS-Compliant firm. In addition to that, this company strives to deliver the much-needed simplicity, owing to their possession of the knowledge that investors hate bureaucracy and unnecessarily long processes.
IRA Bitcoin also leverages on its strategic partnerships with several service providers, including:
- IRA Custodians
- Well-established cryptocurrency exchanges
- Secure digital wallet providers.
The company also claims to have highly-trained financial advisors who help clients by explaining to them how major processes such as fund transfers, transaction executions, as well as account reporting, occur.
How does IRA Bitcoin work?
As highlighted above, IRA Bitcoin offers investors a very convenient way through which they can invest
in Bitcoin IRAs, as well as other popular cryptocurrencies. Any investor, can through the steps outlined by IRA Bitcoin easily buy cryptos and diversify their existing self-directed IRA or their 401k portfolio.
The process outlined by IRA Bitcoin is quite fast and one in which you can receive the guidance from experienced financial advisors at every step. Here is how everything happens:
Start by downloading and filling in a Customer Agreement that is offered by IRA Bitcoin LLC.
Lock in the price of your most preferred crypto right away, in a bid to protect your investment from the fluctuating market prices.
Create and fund your own crypto IRA with the help of a custodian who has already been approved by IRA Bitcoin
Buy the cryptocurrency you selected and then store it in a hardware wallet that provides you with an offline cold storage solution. This storage solution is usually backed with a 24-word mnemonic code that is hard to crack. This guarantees the safety of your coins, in case of any hardware malfunctions, or even cyberspace attacks.
N.B: Cold storage is the safest cryptocurrency storage solution available in the market.
You are usually in complete control and possession of your cryptos. You can, therefore, liquidate the cryptos into either of the following:
- US dollars
- Other approved assets at the time of the conversion.
Which custodians does IRA Bitcoin work with?
Most investors tend to trust put their trust in an IRA service provider based on the reputation of the custodian they work with. Which is why it is important for you to know all about IRA Bitcoin’s custodians. This company has a relationship with two custodians, namely: Madison Trust, and Equity Institutional. As an investor, you will end up working with either of the two custodians based on the type of account that you open. Each of the two custodians has a unique value proposition. IRA Bitcoin’s financial advisors usually take it upon themselves to advise you about which custodian is best suited for you, based on your investment objectives.
Does IRA Bitcoin charge any fees?
Yes. As much as this firm does not reveal the exact amounts of the charges, it reveals to its clients that they have to pay fees, including the following:
- Initial service fees – these fees cover all the services that IRA Bitcoin offers, including the set up of a crypto IRA that is overseen by an approved custodian, as well as the provision of advisory services such as market research and the crypto IRA set up consultation.
- Custodial fees– these vary from one IRA custodian to the other, and with the type of account that you create.
What is the least amount of money that you can invest through IRA Bitcoin?
IRA Bitcoin has a minimum investment fee which is quite high. One has to invest a minimum of $15,000. Some companies in the Bitcoin IRA industry allow you to invest a lower amount, hence are able to accommodate a larger pool of investors.
Is IRA Bitcoin genuine?
Yes. IRA Bitcoin is 100% genuine. It is a company that has a physical address at :
- 5023 North Parkway Calabasas Calabasas, CA 91302.
If you would like to reach out to them, you can do so through the following contacts, which are provided in their official website:
- Email – email@example.com
- Telephone-(844) 472-2482
Beyond that, this company has been featured in the following internationally recognized news outlets:
- The New York Times
- Wall Street Journal
- Bloomberg Business
This company has been in business for two years, but there are seemingly not many reviews about it on various consumer trust sites. With only an A+ rating on BBB, there is barely any other avenue in which you will find customer reviews about IRA Bitcoin. The fact that it has zero complaints is good enough, but my advice would be that you work with a company that is reputable and that has solid reviews from customers.
My advice would be that you work with Regal Wallet, which is the crypto investment arm of Regal Assets. It is a very reliable firm whose reputation and professionalism in the industry is second to none. You can have a look at what they offer before making your decision on which Bitcoin IRA company to work with.
Pros and Cons
- A+ rating on BBB
- Works with well-known custodians
- Has experienced financial advisors
- Has only been in business for 2 years ( as of May 2020)
- The minimum investment amount of $15000 applies
- The charges and fees are not fully revealed.
I hope you have enjoyed my review of What IRA Bitcoin is about. If you have worked with this company, you can always leave a comment and share how your experience was like. Before making your decision, you should have a look at what my number one alternative to IRA Bitcoin is offering.
I wish you the best.