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What is a Bitcoin IRA?
Bitcoin IRAs are a type of self-directed IRA crypto accounts offered by some of the best online brokerages and trading platforms. Investors can hold alternative assets, like bitcoin and other cryptocurrencies, alongside traditional investments in their retirement portfolio, hoping for long-term gains.
Bitcoin IRAs are only available through specialized custodians equipped to track and manage the storage and security of these digital assets.
Why Choose a Bitcoin IRA?
Crypto and retirement investing have become popular, especially as brokerages like Fidelity have offered bitcoin as a 401(k) investment choice. However, several companies also offer crypto trading through self-directed IRAs.
A bitcoin IRA can be an alluring investment option for those who want to avoid capital gains taxes while building wealth. You’d be subject to capital gains taxes for regular crypto transactions without an IRA. But self-directed IRAs eliminate those extra costs (or at least defer them).
Adding bitcoin to your retirement portfolio can further diversify your holdings and mitigate risk. Cryptocurrencies can also hedge against inflation, similar to other alternative investment options. Plus, the possibility of higher returns makes crypto investment alluring despite the significant volatility and risk of investing in decentralized currencies.
Best Cryptocurrency IRAs
- BitcoinIRA: Best Overall
- BitIRA: Best for Account Security
- Alto CryptoIRA: Best Investment Selection
- Coin IRA: Best Investor Experience
- iTrustCapital: Best for Low Fees
Compare the Top Bitcoin IRAs in 2024
The best bitcoin IRAs provide custodial services, storage options, and, in some cases, 24/7 trading access. They are popular for folks looking to avoid capital gains taxes. Cryptocurrency exchanges offer a range of crypto availability, account security, low fees, mobile access, and more.
Here are the best bitcoinIRAs provided by Business Insider’s editors in 2024.
Best Bitcoin IRA Overall
Bitcoin IRA
Fees
2.99% one-time deposit fee ; 2.00% transaction fee; and a 0.08% security fee billed monthly
- Bitcoin, ethereum, litecoin, and several other cryptocurrencies available
- You can invest in one coin or a blend of multiple coins
- Supports IRA rollovers, traditional IRAs, Roth IRAs, SEP IRAs, and 401(k)s
- $700 million insurance available
- You’ll need to speak with a company representative to learn set-up fees for your account balance
- High trading fees
Product Details
- Features: 24/7 trading, offline storage, and $700 million insurance
- Better Business Bureau rating: A+
- Awards: Earned the Mobile Web & App of the Year award for the 2022 Globee American Best in Business Awards
Bitcoin IRA is an industry-leading crypto IRA platform that supports 24/7 trading of 60+ cryptocurrencies, including bitcoin, ether, litecoin, cash, and digital gold. Set up an account in minutes for secure cold wallet storage, 256-bit encrypted SSL trading, and up to $700 million of digital asset insurance.
Bitcoin IRA covers support services for retirement fund rollovers (Bitcoin IRA lets you rollover funds from traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, 403bs or 401(k)s), security storage, and setup costs for a self-directed IRA with BitGo Trust.
Regarding crypto storage, Bitcoin IRA stores your assets with BitGo Trust.
What to look out for: Fees and pricing aren’t straightforward. You’ll need to contact a company representative for more information since some fees vary based on your balance.
Best Bitcoin IRA for Account Security
Best for account security
BitIRA
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This article was originally published by a www.businessinsider.com . Read the Original article here. .
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