Bitcoin has seen a meteoric rise in popularity in recent years, as its users have come to appreciate its many benefits. Instead of going with other tax-deferred options for retirement investments, people are more impressed with crypto IRA investments and their benefits.
IRA’s – Individual Retirement Accounts – are a great way to invest money and grow your wealth over time. You can invest in IRAs with various investment options, including Gold IRA, Roth IRA, and Digital currency IRA, among many others. While you are willing to invest in a secure digital currency IRA, you may find many companies online offering different services. A retirement account with digital assets might just be the best investment strategy today.
But it is important to choose the right platform that secures your retirement funds. A reliable IRA company will manage your minimum investment without any worries.
To assist you, our research and editorial team evaluated many digital currency IRA companies and found that BitIRA is the most reliable and ideal option for retirement planning.
BitIRA offers a variety of IRA options, including Bitcoin, Ethereum, and Litecoin IRA accounts.
According to various BitIRA reviews, investing in BitIRA digital currency IRA is a great way to start investing in cryptocurrencies and grow your wealth. But is BitIRA as good as it seems? What does it do?
What is BitIRA?
|About the Company||BitIRA enables people to set up a digital currency IRA for cryptocurrency trading. It was created in 2017 and is headquartered in Burbank, California. A Traditional, SEP, Roth or SIMPLE IRA can be used. People can also use any retirement account that is suitable for IRA rollover. BitIRA prides itself on keeping a firm reputation for quality and excellence.|
|Founded in which Year||BitIRA was founded in 2017|
|Strategic Partnerships||Equity Trust Company and Preferred Trust Company|
BitIRA is one of the leading specialists in digital currency IRA for retirement planning. The company works with everyone who is willing to enjoy digital currency profits within their retirement accounts.
The team at BitIRA believes that Americans should be able to choose between a range of assets available to them within a tax-advantaged retirement account. Thus, one of BitIRA’s primary responsibilities is to give their customers a clear understanding of how digital currencies can help them achieve their unique saving goals, providing them with a straightforward, simple method.
BitIRA is Andy’s second venture into working with alternative assets for IRAs. The first with Birch Gold Group is a national dealer of precious metals IRAs.
Birch Gold Group has a long history of offering advice to individuals on setting up their own IRAs. BitIRA was created to take advantage of this expertise. BitIRA is the only company that specializes in Digital Irs. Their specialists are knowledgeable, professional, and experienced.
Their clients include Fidelity, Edward Jones, and Merrill Lynch. In other words, BitIRA knows the fastest, most efficient, and most secure ways to provide the benefits of digital currencies to your retirement savings. They offer both direct and IRA custodian solutions for cryptocurrencies. It means that you can choose the method that best fits your needs.
Five layers of security protect individual Retirement Accounts. Their digital wallets are protected from hackers. They also provide strong authentication, encryptions, and end-to-end insurance coverage, ensuring that your crypto savings are protected.
When it comes to retirement savings, investing in alternative investments through BitIRA allows investors to make the most of their retirement savings. IRA specialists are always there to help you execute the order and guide you best to choose the right option per your own personal circumstances or preferences. Additionally, IRA specialists help you to transfer an existing IRA to BitIRA digital currency IRA.
Buying and selling cryptocurrencies is easy as it is done through one of BitIRA’s cryptocurrency exchange partners. Also, BitIRA has a team of digital currency specialists that are well aware of the exchange rates and fluctuations.
Investors can choose from different cryptocurrency options, including:
- Ripple (XRP),
- Ethereum (ETH),
- Bitcoin (BTC),
- Ripple (XRP),
- Ethereum (ETH),
- Stellar Lumens (XLM), and
- Ripple (XRP)
How Does BitIRA Work?
BitIRA handles the entire process of setting up a Self-Directed Bitcoin IRA. Once you sign in, the company guides you in creating the Self Directed IRA with a custodian.
The company ensures coordination of the three main functions of setting up a bitcoin IRA as follows:
IRS regulations require you to have a custodian responsible for managing the administrative duties of your self-directed IRA. In case you have a prior IRA account, your current custodian transfers funds to the new bitcoin IRA.
The company helps you get started with Bitcoin, and you can purchase the services you need directly through them.
BitIRA also manages the custodial account on your behalf, and you can trade on an exchange with other people who have set up accounts with BitIRA.
To add new digital currencies to your traditional IRA-eligible account, you must first make a BitIRA retirement account. Then you simply connect your existing wallets and funds to your company’s account.
This is a convenient step considering that it doesn’t require you to own and manage a hardware wallet.
BitIRA provides you with the financial services and protection of two trusted, long-established companies. Through the combined services offered by BitIRA and PTC/ETC, you will be sure to receive the best service possible as per your previous IRA account’s history.
Apart from this, it’s also possible to make the following changes or do customization in your BitIRA account:
- IRA type you want
- Bitcoin IRA comes in a range of types, including traditional, Roth IRAs, SEP, and SIMPLE.
- You are free to set up any BitIRA retirement account type depending on your needs or requirements.
- You can add any cryptocurrency to your IRA account, from Bitcoin to LTC, ETH, XLM, Aave, LINK, ZEC, ETC, among others.
When you’re talking about Alternative Assets, you’re talking about other kinds of assets that can help you achieve your goals. You can have real estate, which is often referred to as “land,” or you could also include rare metals and other items that are considered assets.
Features and Benefits of BitIRA
You may be wondering about the features and benefits of using BitIRA, which sets it apart from other options in the digital IRA industry.
BitIRA gives you a unique option among other digital retirement services in the industry. The company offers many exciting features and benefits, which are stated below.
Multi-Factor Authentication and Multi-Encryption
Most digital IRA platforms protect transactions with encryption features, but they are not 100% safe. However, BitIRA offers multi-factor authentication and multi-level encryption, which is much safer.
BitIRA offers multi-factor authentication to keep your transactions safe and secure. If you want to start investing in digital assets, BitIRA will become the best choice for you because of this feature.
No Keys or Devices To Track Your Assets
You can track your digital currency investments without using a private key of a hardware wallet.
When the BitIRA team designed BitIRA, it was to provide financial inclusion to the unbanked. BitIRA achieves that goal by providing instant transfer capabilities for peer-to-peer money transfers.
Users who used the BitIRA app for transactions related to digital currency options were extremely satisfied with this particular service offered by the company.
Insured Cold Storage Solution
BitIRA offers users a reliable and safe storage solution for all their cryptocurrency investments. Users say that BitIRA is a valuable storage solution due to the platform’s fast, secure, and reliable storage services.
Although it is unsafe to invest in the crypto market every time, BitIRA does use nuclear bunkers to store Bitcoins. That gives investors a higher degree of confidence when investing their funds in the BitIRA account.
BitIRA protects every user’s assets through an end-to-end insurance plan. From physical damage and embezzlement, hacking, theft, or any accidental damages, the platform’s insurance covers everything.
Everything is covered under your BitCoin policy to buy and sell digital currency or the final transfer of your Bitcoins. If anything goes wrong with your Bitcoins, you can claim the benefits.
With this fund, your IRA will be insured for about $3.75 million, and you’ll also be eligible for free investment advice from the Equity Trust Company or Preferred trust company.
With BitIRA, you get security techniques for blockchain systems that comply with level 2 CCSS. It’s not a great place to deal with cryptocurrencies – it’s a great place to deal with alternative assets.
BitIRA, one of the top remittance companies, guarantees consistent and quick cash-outs for their clients. Plus, they have low custodial fees, which makes it a better alternative.
Why Invest in a Bitcoin IRA through BitIRA?
BitIRA claims to offer these benefits to people who sign up with them:
Confirm all bitcoin IRA transactions on a peer-to-peer protocol on a blockchain network, which ensures optimal security.
When it comes to building a truly sustainable financial future, it’s clear that the safest bet is investing in Bitcoin and other cryptocurrencies.
By taking advantage of the technology and adaptable scaling of these coins, the investors are guaranteed that the value of their digital assets will not be artificially inflated, something that is virtually impossible with other investments.
Bitcoin boasts of a decentralized infrastructure that is untouchable by the biggest banks in the world. This gives you the power to separate these banks and centralized powers, like the IRS and the FBI, and put them where they cannot interfere with your affairs at retirement.
BitIRA Reviews: What do Users Say?
Customers say that BitIRA is an exemplary company for the services they provide and its honest marketing. Also, a company provides a certified financial advisor who is always there to guide you best on an individual retirement account.
The company uses cold storage to keep the assets safe for those who want maximum security. It has an extensive team of people and a financial consultant to help you in every aspect of your investment and to look out for security breaches. Many people use the company because it offers a process that’s easy to understand, allowing them to trade in a way they feel comfortable.
For those who want an IRA and want to have more control over their retirement savings, BitIRA is the right solution. It supports multiple cryptocurrencies and allows customers to add different digital currencies to the account, something which other companies don’t do.
BitIRA is an IRA setup company that charges fees similar to those of other IRA set up companies. They will charge you a fee for setting up your Bitcoin IRA, storing your Bitcoin funds in a secure facility, and managing your account.
Here are the fees and charges:
- Setup Fee: $50
- Minimum Investment Amount: $5,000
- Annual Account Maintenance Fee: $195
- Storage Costs: 0.05% per month
Why Digital Currency?
Digital currency is a new form of currency that is gaining traction, especially among millennials who want to invest in something that is both secure and transparent. One of the unique features of the digital currency is that it’s decentralized which means it is not regulated by the government agencies. The value of the internet backs it.
The best way to invest is through a diversified portfolio of assets that are managed by an experienced financial advisor. Diversification helps reduce risk, which is especially important when investing in the stock market. You can own a diverse mix of stocks, bonds, precious metals, real estate, art, and cryptocurrencies.
When it comes to digital assets, there are a lot of factors that need to be considered. For example, you should consider the market cap and liquidity of the token to decide whether it is a good investment for you.
Benefits of Owning Bitcoin
The key to growing your wealth through digital currency is understanding its benefits. Every type of asset has its own benefits. With the help of a digital currency IRA, one can diversify their retirement savings and experience exposure to the growth of digital currencies.
Here are a few benefits that digital currencies or Bitcoin offer; also, they are the advantages that a digital currency IRA holds on to.
According to the Internal Revenue Service, digital currencies are considered personal property for tax purposes, allowing them to be held in a digital currency IRA account. It means any profit you gain from digital currency investment is tax-free until you withdraw them from your retirement account.
Artificial Inflationary Hedge
Unlike paper money, digital currencies are backed with two mechanisms to protect against artificial inflation.
There is no controlling entity over digital currencies. Government and central banks are not supposed to interfere in the digital currency market. All digital currency assets are managed and maintained by a decentralized network.
Digital currencies are supplied through a term called “adaptive scaling.” In other words, new digital currencies become more difficult to mine as their supply grows. The number of units of some digital currencies (such as Bitcoin) is even limited.
Long Term Upside
In this day and age of digital currencies, that timeless maxim has been proven once again.
The conventional monetary system stands to undergo massive and permanent changes due to Blockchain technology powering all digital currencies. Thus, many experts believe a considerable margin presently undervalues digital currencies.
Digital currencies are revolutionizing the financial system in the same way that the internet revolutionized communication. Americans will never have a better opportunity to benefit from this disruption than now.
In order to minimize risk and maximize profitability, it is crucial to maintain a wide variety of assets. When you do not diversify your savings correctly, you may suffer unnecessary losses and miss out on profits. These situations often arise with conventional IRAs and 401(k)s, which offer limited investment options – usually no more than stocks, bonds, and mutual funds.
The unique characteristics and unconventional benefits of digital currency assets make them an attractive diversification option for all investors.
Private & Secure
A digital currency uses a cryptographic protocol that makes it possible to remain totally anonymous and private. Your personal identity cannot be linked to the digital currency investments you hold without your consent.
Frequently Asked Questions About BitIRA
We have received many questions regarding digital currency IRA and BitIRA, in the below content we have answered some of the frequently asked questions.
What are digital currency IRAs?
Digital currency IRA accounts are retirement accounts that allow you to invest in cryptocurrencies like Bitcoin and Ethereum. These accounts are managed by a third party and offer the same investment options as traditional IRAs, including stocks, bonds, and mutual funds. You can use these accounts to buy digital currencies.
What are digital assets?
Assets can come in all kinds of formats, including digital files, website content, or even cryptocurrency investments like Bitcoin, Ethereum, and other crypto assets.
Digital assets can be used to purchase goods and services online, save value, or pay for other digital transactions.
Can you transfer cryptocurrency from another IRA to a new BitIRA account?
BitIRA will allow you to move cryptocurrencies from one BitIRA account to another BitIRA account. If they give you the option of keeping your cryptocurrency in the old account, you’ll have to ask for their consent.
Is BitIRA safe?
Yes, they are. The platform offers five layers of security and safety to protect individual retirement accounts. With BITIRA, you have full control over your investments, which gives you complete security.
What Cryptocurrencies Does BitIRA Support?
The top cryptocurrencies that you can hold in your IRA include:
- Bitcoin IRA
- Bitcoin Cash IRA
- Ethereum IRA
- Ethereum Classic IRA
- Litecoin IRA
- Zcash IRA
- Stellar Lumens IRA
- Chainlink (LINK) IRA
- Aave IRA
- The Graph (GRT) IRA
- Basic Attention Token (BAT) IRA
How long does it take to create a BitIRA rollover account?
It takes from one to three weeks to create a BitIRA rollover account. You must have an account at this time in order to make a rollover.
The amount of time needed to complete a rollover has everything to do with how fast your current custodian transfers funds into your account.
Can I hold other investments in a BitIRA retirement account?
Yes, you can hold other investments in your BitIRA retirement account. A BitIRA cryptocurrency specialist will help you gather the information you need to make decisions about your account. You can also include IRS-approved assets like stocks, bonds, gold, real estate, and more in a BitIRA account.
When does the cryptocurrency holding period begin with a BitIRA account?
The holding period begins the day after you purchase digital currency.
BitIRA reviews: Final Words
BitIRA is one of the best platforms in terms of creating a digital currency IRA. Whether you want to invest your existing IRA investments into Bitcoin cash or Bitcoin itself, BitIRA is the best option for you.
There are many ways to invest in the cryptocurrency market. But if you’re looking for a secure platform to invest in without the least capital investment requirements, then BitIRA is the perfect choice for you.
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