Saving for retirement naturally prompts many of us to want the best, most profitable opportunities to keep our money. With our own retirement portfolios, we naturally want the highest yielding options. 2017 yielded immense returns for those who learned how to buy cryptocurrency, but what about legacy investors that don’t how to maneuver cryptocurrencies? Legacy financial products are finally meeting up and combining with newer ages of the internet; as such, things like Bitcoin IRAs are not only possible but now fully functional, and we’ll help in overviewing the best options available.
Now, for the first time, people can deposit funds to a Bitcoin/Cryptocurrency IRA; but which ones are the best, the safest, and most cost efficient? We’ll go over exactly this in this guide.
This guide will overview the best Bitcoin IRAs, reviewing each of them individually and assessing whether or not a Bitcoin IRA is, in general, the right choice for you.
Best Bitcoin IRAs for 2019
Next, we’ll take a look at some of the best, reviewed Bitcoin and cryptocurrency IRA options. Keep in mind, new products, details, and options for crypto IRA accounts are continuously evolving, so it’s important to also combine these rankings with your own respective due diligence and research to find the best option that is fit for you personally.
Bitcoin IRAs Ranked by Category
Currently, the statistically most cost-efficient Bitcoin IRA is Broad Financial’s product due to their fixed flat fee structure. Other IRA products will traditionally incur ‘moving’ fees that are dependent on how well your investment is doing (Better you do, more you have to give up).
Broad Financial offers a structure that will essentially be flat no matter how well you’re doing. This protects you losing more money based on making more money.
Bitcoin IRAs are very heavily reliant upon their reputation; otherwise, how can we trust them to hold our retirement funds?
In first place, as far as reputation goes, BlockMint takes the crown for more reputable provider; this is because it is a branch from the legacy IRA provider ‘Lear Capital’ –> Lear Capital has managed over $2+ Billion in retirement accounts, which gives it a track record that other cryptocurrency IRAs can only envy at this point.
Regal Assets Bitcoin IRA takes second place in terms of reputation due to the fact that the provider is a multi-year provider of retirement portfolios for alternative assets including precious metals. Regal was also the first provider to acquire the crypto commodity trading license.
Coin IRA is also a good option. The provider is an accredited BBB business officially under the ‘Bitcoin’ name, which makes it one of the first of its kind. Coin IRA is also fully registered and licensed as an IRA provider.
Coin IRA is easily the best option for those who are absolute beginners in the cryptocurrency and Bitcoin IRA ecosystem. Coin IRA offers one static IRA product however offers some in-depth support for those just getting started. Additionally, creating an account is extremely fast on Coin IRA.
Broad Financial’s Bitcoin IRA is the most advanced option when it comes to Bitcoin IRAs; this is mainly because the platform handles all of the IRA back-ends, however, lets you choose and have complete control & customization over what you invest in, what you trade, and so on as far as cryptocurrency and Bitcoin goes.
The best option for Bitcoin IRAs as far as interface and overall platform design and development is BitcoinIRA. BitcoinIRA has clearly spent a dedicated amount of time towards crafting a beautiful interface and is subsequently the best option as far as fluidity, platform, and interface.
As more capital moves towards the cryptocurrency and blockchain market, everyday employees and those who want to get involved with the digital markets can do so with the new implementations of Bitcoin and Cryptocurrency IRAs. A Bitcoin IRA is a great option for those who are uncomfortable or unfamiliar with the crypto landscape yet want to diversify their retirement accounts for higher levels of potential profit.
The options presented and reviewed in this guide are not the only options for IRAs that are delving and exposed to the cryptocurrency and Bitcoin market, however, if you choose an option that is external and hasn’t been reviewed by verified, proceed with extreme caution. As always ensure you do your own research! Each Bitcoin IRA is different and tailored for individual users. Find the one that best suits you and build up some profit!
I'm an absolute beginner to Bitcoin but I want to get involved. What would InsideBitcoins recommend as far as IRAs?
For absolute beginners, the arguably best exchange suited for novices that want to get exposure to Bitcoin and cryptocurrency through an IRA is Coin IRA as indicated in our reviews above. Coin IRA offers a singular IRA product, which is their Bitcoin IRA product. Their support team also assists through the process. Account creation is quick and painless. A close second for absolute beginners looking to engage in cryptocurrency/Bitcoin IRAs would be BitcoinIRA.
What is the benefit of using a Bitcoin IRA as opposed to just buying or trading Bitcoin?
Since Bitcoin IRAs are structured in the form of retirement portfolios, there are various tax benefits that come associating with allocating income to a Bitcoin IRA. Additionally, if you don't know how to buy Bitcoin or are too scared of buying it without guidance, then a Bitcoin IRA is the right choice for you. Bitcoin IRAs also allow you to allocate part of your income (Depending on your 401(k) set up) that you wouldn't be allowed to touch anyways to Bitcoin investments.
How important is a Bitcoin IRAs track record?
Bitcoin IRA track records are very important; they shouldn't dissuade you from pursuing an option that you've cleared as legitimate in every other parameter, but if there is no track record of providing IRA accounts prior, then you should be cautioned.An IRA provider's company track record demonstrates they've been successful for x amount of time and obviously know how to do it correctly. As a result, look for track record, uphold it as important, but don't let it entirely dissuade you as Bitcoin IRAs are a new concept so there won't be a lot of providers.
How do I know which Bitcoin/Cryptocurrency IRA is the best option for me?
The first step is to see whether you want to engage in a general cryptocurrency IRA (Which is higher risk, but higher potential reward) or with a static Bitcoin IRA which is overall lower risk. Then, assess how much you're willing to allocate to your IRA. Many crypto and Bitcoin IRA providers require minimum investment amounts that can overall range.
What's the difference between a Bitcoin IRA and a Roth Bitcoin IRA?
The main differences between a standard Bitcoin IRA and a Roth IRA are the tax benefits and advantages that each one presents. You can visit the official Roth IRA website here where the difference between a Roth Bitcoin and standard Bitcoin IRA can be better understood.