Bitcoin IRA 2025 Review: 75+ Cryptocurrencies But High Fees
Best for New Crypto Investors
Crypto IRA
- Trade more than 75 cryptocurrencies
- Bitcoin IRA handles storage for you
- Lower your tax bill while accumulating crypto
- High fees
- 2% trading fee for buys and sells
Retirement accounts allow you to accumulate assets while minimizing how much you pay in taxes. Traditional IRAs let you defer taxes now, while Roth IRAs allow you to make tax-free withdrawals.
While most IRAs let you invest in stocks and mutual funds, crypto enthusiasts can turn to Bitcoin IRA. This crypto IRA provider allows investors to enjoy the same tax benefits as an IRA while being able to invest in more than 75 cryptocurrencies.
Table of Contents
Is Bitcoin IRA legitimate?
Bitcoin IRA is a legitimate finance company with strong ratings across multiple platforms. The Better Business Bureau (BBB) gives it an A+ rating, indicating a strong track record of ethical business practices and responsiveness to customer concerns.
| Platform | Rating | Number of Reviews |
| Better Business Bureau | 4.75/5 | 32 |
| App Store | 4.3/5 | 1,100+ |
| Google Play | 4.4/5 | 1,800+ |
| Trustpilot | 4.8/5 | 153 |
On mobile platforms, the company’s app rates well. These ratings suggest that most users are satisfied with the app’s functionality, though some may have encountered minor issues.
Bitcoin IRA also earns an excellent on Trustpilot. This reflects a generally positive customer experience, with customers appreciating the company’s services, ease of use, and customer support. The overall sentiment suggests Bitcoin IRA is a reputable option for those looking to invest in crypto IRAs.
Can you trust Bitcoin IRA’s security features?
While deregulation has made crypto attractive, it also presents more risk if someone steals your crypto. That’s why it’s important to check a crypto IRA provider’s security measures.
Bitcoin IRA makes several investments that can make bitcoin and crypto investors more comfortable. The company uses multi-signature wallets and cold storage to add extra layers of protection. Bitcoin IRA also invests in insurance policies that cover up to $250 million in losses in case something goes wrong.
Bitcoin IRA uses video recognition authentication to ensure that the right person is accessing the account. Finally, the firm has an SOC 2 Type 2 Certification, which indicates that it meets rigorous information security and data integrity standards.
How does Bitcoin IRA work?
Bitcoin IRA combines the tax benefits of individual retirement accounts with the ability to buy cryptocurrencies. Although Bitcoin IRA lets people choose from more than 75 cryptocurrencies, bitcoin specifically has emerged as the star. The digital asset is up by almost 900% over the past five years, comfortably outperforming the stocks and mutual funds most IRAs offer.
Bitcoin IRA offers a simple premise: You can create an IRA and pay extra fees to trade crypto with tax benefits. You can open a new retirement account with Bitcoin IRA or transfer funds from your IRA to Bitcoin IRA. If you choose to transfer your current IRA, it must be a cash IRA. You must sell all stocks in the IRA before making the transfer.
Traditional IRA vs. Roth IRA
Bitcoin IRA lets you choose between a traditional IRA and a Roth IRA. Traditional IRAs allow you to make tax-deferred contributions. You won’t owe any taxes when you contribute to this account, but you will need to pay taxes when you withdraw funds from your IRA.
Bitcoin IRA’s Roth accounts are the opposite. You pay taxes now instead of later, on withdrawals or capital gains. Avoiding capital gains tax on crypto can result in massive savings if bitcoin continues to rally.
There’s more to Bitcoin IRA than traditional and Roth IRAs. These are some of the other retirement accounts you can open with the crypto firm:
- Crypto 401(k)
- Bitcoin SEP IRA
- Bitcoin Simple IRA
24/7 trading
One of the unique details about bitcoin is that you can trade it 24/7, while stocks only trade on weekdays. Bitcoin IRA lets investors capitalize on this distinction with 24/7 trading. You can trade cryptocurrencies on weekdays, weekends, late nights, and in the middle of the afternoon.
Mobile apps
Bitcoin IRA’s mobile apps make it easy to access your portfolio and make trades while on the go. You can see live prices, check your portfolio, and make trades from the app. The Bitcoin IRA app is available in the App Store and Google Play.
Customer support
The crypto firm makes it easy to access customer support when you have questions. You can call the company and speak with a representative from 6 a.m. to 5 p.m. Pacific on weekdays. Customers can also schedule a call, hop on chat, or send an email. Bitcoin IRA says it will do its best to respond to emails within 48 hours.
Bitcoin IRA fees
While Bitcoin IRA is one of the most established crypto IRA providers, serving more than 200,000 Americans, its fees are quite high. It’s easy to deal with these fees if bitcoin can continue to deliver incredible gains, but they’re higher than most retirement account options.
Crypto IRAs are known for high fees, but Bitcoin IRA is in its own category. These are the fees you’ll encounter:
- Setup and deposit fee: You’ll pay a 1.99% fee to set up your account. This fee also applies to all deposits in your IRA. For instance, if you deposit $7,000, you’ll pay a fee of $139.30 before you can buy crypto. That leaves you with $6,860.70. It’s essentially the opposite of an employer’s match.
- Trading fee: Every crypto transaction is subject to a 2% trading fee. This fee adds up fast if you day trade crypto. Even if you only buy and hold bitcoin, your $6,860.70 turns into $6,723.49. You’re down by $276.51 after making your first trade. You’ll still pay a 2% trading fee to turn your crypto into cash.
- Monthly fee: To add it all up, a 0.08% monthly fee also goes toward maintenance and security. Maintaining the security of crypto assets often requires more specialized infrastructure than traditional investments like stocks—which helps explain the monthly fee, though it can add up fast on top of other costs.
Although 24/7 trading is a selling point for Bitcoin IRAs, you should not use this account to make trades. The trading fees can wipe out your profits and leave you in a bad position. The fees are high, but holding crypto for multiple years can make the fees feel more manageable due to the long-term gains.
Bitcoin IRA pros and cons
Bitcoin IRA presents several advantages and disadvantages worth considering before making a decision.
Pros
-
Trade more than 75 cryptocurrencies
While plenty of crypto enthusiasts focus on bitcoin, many investors also trade altcoins like ethereum, doge, solana, and cardano. Bitcoin IRA lets investors accumulate all of these coins and others, which is a wider range than most crypto IRAs and crypto brokerage firms.
-
Bitcoin IRA handles storage for you
You won’t need to worry about advanced crypto tech like digital wallets and blockchains. It offers a more beginner-friendly atmosphere.
-
Lower your tax bill while accumulating crypto
Traditional and Roth IRAs have been around for decades, but most of them don’t let you buy crypto. Bitcoin IRA is a pioneer in the industry that lets you enjoy tax benefits while building up your crypto reserves.
Cons
-
High fees
Bitcoin IRA is expensive, even when considering the crypto IRA industry. The odds are against you if you’re trying to profit as a crypto day trader. However, long-term investors have a better chance of making profits despite the fees.
-
Transaction fee
It isn’t just the setup and maintenance fees. Bitcoin IRA also charges a 2% transaction fee for buy and sell orders. That’s higher than other crypto IRA providers.
How does Bitcoin IRA compare to alternatives?
While Bitcoin IRA claims to be the “world’s first and most trusted crypto IRA platform,” it’s not the only option. Here’s how Bitcoin IRA compares with other crypto IRAs.
Bitcoin IRA vs. iTrustCapital
Bitcoin IRA gives investors more options. You can trade more than 75 cryptocurrencies on the platform, while iTrustCapital says it supports “dozens of” cryptos—but it’s less forthcoming about the number, and we couldn’t find a comprehensive list of its supported assets.
However, you can also trade precious metals like gold and silver on iTrustCapital. iTrustCapital beats Bitcoin IRA when it comes to fees. iTrustCapital only charges a 1% crypto transaction fee for buys and sells and doesn’t assess setup or monthly fees.
iTrustCapital allows you to open a traditional IRA, Roth IRA, or traditional SEP IRA. This is similar to what Bitcoin IRA offers, allowing you to invest in crypto while getting tax benefits.
Bitcoin IRA vs. Alto Crypto IRA
An Alto CryptoIRA lets you trade more than 250 cryptocurrencies, a wider selection than Bitcoin IRA offers. Alto also lets you choose between traditional, Roth, and SEP IRAs.
The Alto CryptoIRA charges lower fees. For buy and sell orders, you’ll just pay a 1% transaction fee, while Bitcoin IRA charges a 2% fee.
While Bitcoin IRA primarily offers crypto IRAs, Alto offers more investment options. You can buy exposure to alternative assets like private REITs, sports agencies, private credit funds, and farmland. These additional assets give investors the potential to produce returns that are less correlated with the stock market.
Bitcoin IRA vs. Coin IRA
Coin IRA charges a 1.25% trading fee for buy orders and a 1.00% fee for sell orders. You can put crypto into a traditional, Roth, or SEP IRA. Coin IRA provider requires a $5,000 minimum investment, while Bitcoin IRA only requires a $3,000 minimum investment.
Furthermore, Coin IRA doesn’t charge monthly maintenance or setup fees, making it more affordable than Bitcoin IRA. Coin IRA supports 20 cryptocurrencies, which is less than Bitcoin IRA. However, it offera popular choices like bitcoin, ethereum, and solana.
How to open an account with Bitcoin IRA
It only takes three minutes to open an account with Bitcoin IRA.
- The first step is to navigate to the company’s website and fill in your information. You must provide your name, email, and phone number. Bitcoin IRA will also have you create a password during this step.
- Once you create your account, you can choose which IRA you want to open.
- Then you can connect your bank account to start making deposits. You’ll have the option to transfer your IRA into Bitcoin IRA. However, you must sell all stocks in the account before moving it over to Bitcoin IRA.
After completing these steps, you can start buying cryptocurrencies and take advantage of the tax benefits. You can defer taxes now or opt for tax-free withdrawals in the future.
FAQ
Is Bitcoin IRA a good idea?
Bitcoin IRA can be a good option for investors who want to diversify their retirement savings with cryptocurrency. It allows users to invest in bitcoin and other digital assets through a self-directed IRA with tax advantages.
However, fees can be high compared to traditional IRAs, and cryptocurrency investments come with volatility and security risks. Weigh these factors before choosing Bitcoin IRA.
Is Bitcoin IRA FDIC-insured?
No, Bitcoin IRA is not FDIC-insured. The FDIC only insures deposits in traditional banks, not cryptocurrency holdings. However, Bitcoin IRA states that it provides insurance coverage through BitGo Trust, its custodian, which offers up to $700 million in insurance coverage on digital assets.
Is Bitcoin IRA legal?
Yes, Bitcoin IRA is legal and operates in compliance with IRS regulations. It allows users to hold cryptocurrencies within a self-directed IRA (SDIRA), which is permitted under U.S. tax law. The company partners with regulated custodians and follows industry standards for security and compliance.
Do you pay taxes on a Bitcoin IRA?
Taxes depend on the type of IRA you choose:
- Traditional Bitcoin IRA: Taxes are deferred, meaning you won’t pay taxes on gains until you withdraw funds in retirement.
- Roth Bitcoin IRA: Contributions are made with after-tax dollars, so withdrawals in retirement are tax-free.
If you take an early withdrawal before age 59½, you may face taxes and penalties unless you qualify for an exemption.
Can you withdraw Bitcoin from a Bitcoin IRA?
Yes, Bitcoin IRA allows withdrawals, but typically, you must sell your Bitcoin for cash before withdrawing funds, as the IRS requires distributions in U.S. dollars. Some options may allow in-kind distributions, where you receive bitcoin directly, but this can have tax implications. Early withdrawals before age 59½ may result in penalties.
The post Bitcoin IRA 2025 Review: 75+ Cryptocurrencies But High Fees appeared first on LendEDU.