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Best Bitcoin IRAs of November 2023

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The topic of crypto and retirement investing has become a popular one, especially as brokerages like Fidelity have chosen to offer bitcoin as a 401(k) investment choice. However, several companies also offer crypto trading through self-directed IRAs. 

Bitcoin IRAs can be an alluring investment option for those who want to avoid capital gains taxes while building wealth. Without an IRA, you’d be subject to capital gains taxes for regular crypto transactions. But self-directed IRAs eliminate those extra costs (or at least defer them).

Best Bitcoin IRAs

  • Bitcoin IRA – Product Name Only: Best overall bitcoin IRA
  • BitIRA – Product Name Only: Best bitcoin IRA for account security
  • Alto IRA account – Product Name Only: Best bitcoin IRA investment selection
  • CoinIRA – Product Name Only: Best bitcoin IRA for expert assistance
  • iTrustCapital – Product Name Only: Best bitcoin IRA for low fees
  • Broad Financial – Product Name Only: Best bitcoin IRA for account flexibility

Here are the best bitcoin IRAs as provided by Insider’s editors.

Check out Insider’s guide to the best broker for trading commodity futures>>

Compare the Best Bitcoin IRAs

Best Bitcoin IRAs Frequently Asked Questions (FAQs)

Which is the best Bitcoin IRA?

Bitcoin IRA is the overall best bitcoin IRA for retail investors. Bitcoin IRA allows investors to build retirement savings with cryptocurrencies. However, there are other good bitcoin IRA options like BitIRA and CoinIRA. The best bitcoin IRA for you depends on your personal preferences. 

Is there an IRA for bitcoin?

Yes. Some IRAs offer bitcoin and other cryptocurrency options for investors to trade. But keep in mind that assets like bitcoin have significantly more risk due to the volatile nature of cryptocurrencies. Only investors with a high-risk tolerance should open a bitcoin IRA. 

Is Bitcoin IRA legit?

Bitcoin IRA is a legit investment platform for investors interested in building up retirement savings by investing in crypto like bitcoin. Bitcoin IRA requires a Bitcoin IRA – Minimum Deposit minimum to open an account. It’s not a good choice for retirement investors wanting to invest in other assets like stocks and ETFs. 

What is a bitcoin IRA?

Bitcoin IRA companies act as custodians for investors who want to diversify their retirement accounts with cryptocurrencies like bitcoin, dogecoin, or others. You can only invest in cryptocurrencies with self-directed IRAs. Unlike traditional and Roth IRAs, these accounts give you greater authority over which investments go into your retirement account. They also allow you to invest in alternative assets like precious metals, real estate, and cryptocurrencies.

How are bitcoin IRAs taxed?

Bitcoin IRAs are simply self-directed IRAs that investors fund with cryptocurrencies. And traditional crypto IRAs and Roth IRAs generally have the same tax rules as the standard IRAs do. With a traditional crypto IRA, the investments you make are tax-deductible, and you’ll only pay taxes once you reach the withdrawal age (591/2). Note, however, that you’ll incur a tax penalty if you try to make withdrawals before age 591/2.

Are bitcoin IRAs worth it?

Bitcoin IRAs are simply self-directed IRAs that offer access to a range of alternative assets like real estate, precious metals, or cryptocurrencies such as bitcoin or ether. These accounts are also available in traditional or Roth form. But you can’t fund these accounts with existing crypto assets; that is, you’ve got to purchase new crypto shares with US dollars after you’ve set up the account. 

What are the risks of a bitcoin IRA?

A bitcoin IRA can be risky due to the volatile nature of cryptocurrencies like bitcoin. Stocks and bonds, although volatile to the market, are more closely regulated and do not fluctuate as much as crypto coins and tokens tend to. With a bitcoin IRA, there is a higher chance that your assets will drop in value. 

Bitcoin IRA Reviews

Best Bitcoin IRA Overall

Bitcoin IRA

Bitcoin IRA – Product Name Only supports 24/7 trading of more than 60 cryptocurrencies, including bitcoin, ether, litecoin, stellar lumens, zcash, bitcoin cash, ethereum classic, and digital gold. You’ll need a minimum of $3,000 to get started, and the platform lets you invest in one coin or a blend of multiple coins.

There’s a one-time service fee, which Bitcoin IRA says 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.

When it comes to crypto storage, Bitcoin IRA stores your assets with BitGo Trust. The custody includes up to $700 million in insurance and complete offline storage.

What to look out for: Fees and pricing aren’t straightforward. You’ll need to reach out to a company representative for more information since some fees vary based on your balance. 

Best Bitcoin IRA for Account Security

BitIRA

BitIRAis another popular IRA option for investors looking to add bitcoin and other virtual assets to their retirement accounts. Its custodian, Equity Trust Company, handles all of the administrative duties of the account, while simultaneously giving you complete control over your assets. 

BitIRA supports several cryptocurrencies. These include bitcoin, bitcoin cash, ether, ethereum classic, litecoin, zcash, stellar lumens, bitcoin sv, and more. You’ll need at least $5,000 to get started, and you’ll incur a $195 annual maintenance fee and 0.05% fee for crypto storage.

BitIRA also heavily prioritizes security. The company only lets you access your crypto assets through multi-factor authentication, and it relies on offline cold storage to protect your assets. In addition, BitIRA provides $100 million in custody insurance to shield you against theft, destruction, or loss.

What to look out for: In addition to the $5,000 minimum requirement, you’ll run into three other fees: a $50 setup fee, $195 annual maintenance fee, and 0.05% crypto storage fee.

Best Bitcoin IRA Investment Selection

Alto IRA

Alto IRA account offers low fees and access to numerous alternative investments, including fine art, startups, real estate, cryptocurrencies, private equity, and more. The company also partners with Coinbase to provide more than 200 cryptocurrencies, and it utilizes both hot and cold storage.

In addition, the platform gives you access to commercial crime policy insurance coverage of $320 million and $3 million in cyber crime coverage.

What to look out for: Some of Alto IRA’s investments are reserved for accredited investors, and it doesn’t offer SIMPLE IRAs. 

Best Bitcoin IRA for Expert Assistance

CoinIRA

CoinIRA offers several resources for investors interested in including cryptocurrencies in their IRAs. These include consultants who can assist you with any crypto-related questions and a free cryptocurrency IRA guide that tells you everything you need to know about tax benefits, crypto retirement savings, inflation hedging, and more.

As for its investment offerings, CoinIRA supports bitcoin, ether, litecoin, and 17 other cryptocurrencies. The company also has no maximum purchase limits on cryptocurrencies, and it offers individual accounts, traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs.

Another perk is that CoinIRA charges no fees for insured offline crypto storage. It currently uses Equity Trust Company as its custodian for customer assets. You will encounter fees when trading. Buy transactions result in a 1.25% fee, and sell transactions cost you 1%. See more on its fees here.

What to look out for: CoinIRA previously offered multiple wallet options, but now it mainly relies on Equity Trust Company’s offline storage methods.

Best Bitcoin IRA for Low Fees

iTrustCapital

iTrustCapital offers more than 25 cryptocurrencies for traders interested in crypto IRA investing. Among these are assets like bitcoin, ether, cardano, dogecoin, polkadot, litecoin, and others (you can see a complete list here).

The platform also offers gold and silver for precious metals traders. You can fund your account using an array of methods, including IRA transfers (iTrustCapital supports traditional, Roth, SEP, and SIMPLE IRAs), employer plan rollovers (available for 401(k)s, 403(b)s, thrift savings plans, and 457 plans).

iTrustCapital also partners with Coinbase Custody to provide a $320 insurance policy. 

What to look out for: Keep in mind that you can’t fund your IRA with crypto assets you already own. You’ll only be able to do so with US dollars. In addition, iTrustCapital isn’t available to New York or Hawaii residents. 

Best Bitcoin IRA for Account Flexibility

Broad Financial

One thing that sets Broad Financial apart from the other IRA providers is that its bitcoin IRA is a Checkbook IRA LLC. Checkbook IRA LLCs give you complete control over your crypto, allowing you to choose any cryptocurrency, crypto exchange, or crypto wallet you want.

The IRA has no account minimums, and it’s available as both a traditional IRA or Roth IRA (this means you can contribute with pre-tax or post-tax dollars). The only two fees to keep in mind is Broad Financial‘s $1,295 account setup fee and $95 quarterly custodial fee.

What to look out for: Even though there aren’t any account minimum requirements, keep in mind that you’ll need $1,295 up front when setting up the IRA.

Other Bitcoin IRAs We Considered

  • Rocket Dollar account – Product Name Only: This company offers both self-directed IRAs and solo 401(k)s. Its platform is also easy to navigate, and it gives you a wide range of investment options. Its setup fees — $360 or $600 — may be high for some.
  • Regal Assets: Regal Assets offers an expansive investment selection of assets, including cryptocurrencies and precious metals. You’ll need a minimum of 5,000 to get started.
  • Equity Trust account – Product Name Only: This company offers a range of assets, including real estate investments, precious metals, cryptocurrencies, stocks, and more. It also allows you to take advantage of both Equity Trust’s custody and crypto offerings along with expertise from other platforms like BitIRA. One of the drawbacks is that the platform doesn’t offer much fee transparency.

Why You Should Trust Us: Our Methodology

We researched numerous bitcoin IRAs to find the best options for cryptocurrency selection, fees, security, features, and more using Insider’s rating methodology for investing platforms. Investment apps are given a rating between 0 and 5.

On the fee side of things, we paid close attention to account minimums and account setup fees/advisory fees. We also considered customer service availability when narrowing down platforms.

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