iTrustCapital
Top Pick
iTrustCapital
Top Pick
Minimum Account Requirement
$1,000
Fees
1% fee per transaction
Custody Platform
Fireblocks
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- Account Minimum. $1,000
- Fees: 1% per transaction
- Custody: Fireblocks
- No monthly fees
- Crypto supported: 35 different cryptocurrencies
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Low fees and great customer feedback
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Can purchase precious metals
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Must deposit at least $1,000 to start
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iTrustCapital is one of the most popular crypto IRAs. The company offers low fees and trading in 35 different cryptocurrencies. Setting up an account only requires a $1,000 minimum. Account holders can also purchase gold and other precious metals with iTrust.
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iTrustCapital is the best overall because it's simple enough for beginners to get started yet robust enough for power traders. They offer low fees, a variety of cryptos and also offer precious metals to trade.
BitIRA
BitIRA
Minimum Account Requirement
$5,000
Fees
$50-account setup, $195-annual fee, 0.05%-transaction fee
Custody Platform
Equity Trust
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- Account Minimum. $5,000
- Fees. $50 account setup, $195 annual fee and a 0.05%-transaction fee
- Custody. Equity Trust
- Crypto supported. 17 cryptocurrencies
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High security with cold wallet storage
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Offers full insurance coverage
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Free Ledger Nano to first time customers
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High fees and account minimum
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Must open an account with a specialist
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BitIRA is well-known for its strict security protocols and was the first to offer a fully insured cold storage solution. They have many security checks including multi-signature wallets and work with Fireblocks and Equity Trust to offer a complete security solution.
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BitIRA provides the best cryptocurrency security and complete end to end insurance coverage.
Coin IRA
Coin IRA
Minimum Account Requirement
$5,000
Fees
Transaction fee ranges between 1.25%-2.25%
Custody Platform
Fireblocks
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- Account Minimum. $5,000
- Fee. 1.25%-2.25%
- Custody. Fireblocks
- Crypto supported. 20 cryptocurrencies and 3 precious metals
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Excellent diversification
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Custody via Fireblocks, one of the most secure
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Only 20 cryptos offered
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High account minimum
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Coin IRA, launched in 2017, provides the best educational resources for investors. Additionally, it has lower fees compared to other IRAs - although its minimum to get started is pretty high. It supports investment in various cryptocurrencies and precious metals - great for diversification.
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Coin IRA is great if you also want to purchase precious metals. The company has lots of educational materials. It guides clients from the basics to advanced-level investments.
Bitcoin IRA
Bitcoin IRA
Minimum Account Requirement
$3,000
Fees
A one-time service fee ranging from 0.99% to 4.99%
Custody Platform
BitGo
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- Account Minimum. $3,000
- Fees. Custody, security, and one-time service fee
- Custody. BitGo
- Crypto supported. 60 cryptocurrencies
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High insurance and security levels
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Trade in 60 cryptocurrencies
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High fees
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Better for active traders
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Bitcoin IRA is the first and largest crypto IRA. It was launched back in 2016, which was a long time ago in crypto! They allow customers to trade in over 60 different cryptocurrencies and have a slick user dashboard. The company offers a $700M insurance policy through its insurance partner Lloyd's of London.
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Bitcoin IRA is best for active traders who understand the crypto market.
Unchained Capital
Unchained Capital
Minimum Account Requirement
$6,000
Fees
Setup fee-$995, 5% annual fee
Custody Platform
The investor
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- Account Minimum. $6,000
- Fee. Setup fee-$995, 5% annual fee
- Custody - You hold the keys yourself
- Crypto supported. Just bitcoin
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Concierge service to help you get setup
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Passion and belief for Bitcoin
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High minimum
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Only supports Bitcoin
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Unchained Capital was founded in 2017 and offers a bitcoin-based IRA, where users can invest in bitcoin with self-directed IRA accounts. Interestingly, Unchained Capital offers self-custody for assets within the IRA whereby investors hold access to the private keys. They will help you set up your own custody and believe in the mantra "Not your keys, not your coins."
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Unchained Capital is best for experienced Bitcoin only investors who want to get the advantages of an IRA but yet keep control of their own keys
Swan Bitcoin
Swan Bitcoin
Minimum Account Requirement
No minimum requirement
Fees
0.99% transaction fee
Custody Platform
Prime Trust
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- Account Minimum. No minimum requirement
- Fees: $20 a month or .25% > $100,000; .99% trading fees
- Custody. Fortress and BitGo
- Insurance coverage up to $250M
- Crypto supported: Just bitcoin
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No minimum
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Private advisors for people transferring more than $50K.
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Only offers bitcoin
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Relatively new to the IRA business
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The Swan Bitcoin IRA is a relatively new product, as it opened to all US residents in February 2023. Swan Bitcoin only deals with bitcoin for its custodian-held crypto assets and doesn't require a minimum to get started.
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Swan Bitcoin simplifies the bitcoin process for investors. It is relatively cheap to get started with no minimum. They also have a great support team and are easy to reach via phone.
Alto IRA
Alto IRA
Minimum Account Requirement
$10
Fees
1% transaction fee and $10 monthly account fee
Custody Platform
Coinbase
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- Account Minimum. $10.
- Fees. $10 monthly account fee, 1% fee on trades.
- Custody. Coinbase.
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Affordable pricing structure.
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Low required minimum deposit.
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200+ cryptocurrencies offered.
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Can only manage investments supported by Coinbase
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Alto was founded in 2015 and is one of the cheapest crypto-based IRA providers. It supports more than 200+ cryptocurrencies via their partnership with Coinbase who also serves as Alto's digital assets custodian.
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Alto's cheap pricing makes it an attractive option for investors looking to get started with their Crypto IRA.
Questions & Answers
Q. Why are IRAs a good tool for crypto investing?
A. IRAs are a valuable tool for planning and saving for retirement. There are many reasons why an IRA is a great option for retirement planning, including tax benefits, flexibility and the ability to control retirement savings.
Q. What are the tax advantages of an IRA?
A. One of the key benefits of an IRA is the tax advantages it offers. Depending on the type of IRA chosen, an investor may be able to deduct contributions from taxable income which can help reduce tax bills. Additionally, if an investor chooses a Roth IRA, contributions and earnings will grow tax-free. This means an investor won't have to pay taxes on the money withdrawn during retirement. This can be a significant advantage, as it allows investors to keep more hard-earned money!
Q. What kind of assets can be put into an IRA?
A. Another benefit of an IRA is the flexibility it offers. Unlike many other retirement savings options, IRAs allow investors to choose from a wide range of investment options. These include stocks, bonds, mutual funds, crypto and precious metals, among others. This provides the ability to customize a portfolio to meet individual needs and goals, and to adjust investments as needs change over time. In addition to flexibility, IRAs also offer the ability to completely control retirement savings.
Q. How are IRAs managed?
A. Unlike traditional employer-sponsored retirement plans, which may limit investment choices or require meeting certain criteria to access funds, with an IRA, investors are in charge of retirement savings. An investor can choose how much to contribute each year, which investments to make, and how and when to withdraw funds. One important consideration when deciding whether an IRA is right is age. If an investor is younger and has many years until retirement, an IRA can be a great way to start saving early. This can take full advantage of the power of compounding. By contributing even a small amount each year, an investor can build a significant nest egg over time that will help secure a long-term financial future.
Q. At what age should people start investing in an IRA?
A. Even if someone is close to retirement age, an IRA can still be a valuable tool for saving and planning. Carefully choosing investments and making regular contributions can help ensure having enough money to enjoy a comfortable retirement.
Q. Who is a crypto IRA best suited for?
A. Those who are highly long-term bullish on crypto. Don't want the hassle of holding crypto. In that case, crypto IRAs could be a good fit. It's important, however, to plan to hold the crypto until 59 ½ years old to maximize tax benefits. Crypto is very volatile. This means probably going through several up and down crypto market cycles. Access to funds without a penalty isn't possible, so this is not for those who like to be on the trigger finger!
Q. Are all IRAs crypto IRAs?
A. No. There are only a select few IRAs that specialize in digital assets. This is because crypto requires special wallet services (also known as custody) and insurance in order to provide proper protections for investors. This article has a comprehensive list of great crypto IRA choices. It's important to research the landscape before choosing a crypto IRA as each company offers different features, fees and setup.
Q. What is an IRA contribution?
A. An IRA contribution is a type of retirement account that allows individuals to save for their future. It stands for Individual Retirement Account, and it offers tax advantages to those who contribute to it. In today's market, IRA contributions are becoming increasingly popular as people realize the importance of saving for retirement. With the uncertainty of government-funded retirement plans and the increasing costs of living, many individuals are taking it upon themselves to secure their financial future. There are many options for IRA contributions, including traditional IRAs, Roth IRAs, and SEP IRAs. Each has its own set of rules and benefits, so it's important to research and choose the best option for each individual's needs.
Q. Are IRAs managed by a financial professional or directed by an individual investor?
A. IRAs can be managed by a financial professional. Or, they can be self-directed by an individual investor. It ultimately depends on the individual's preference and level of investment experience. Some people may feel more comfortable having a professional manage their IRA. Others may prefer to have more control over their investments. It's important to do proper research and choose the option that aligns with specific financial goals and comfort levels.
Q. What is an IRA rollover?
A. An IRA rollover is a transfer of funds from one retirement account to another. This is typically done when an individual changes jobs or wants to consolidate multiple retirement accounts into one. By rolling over the funds instead of withdrawing them, individuals can avoid penalties and taxes on early withdrawals. It's important to follow the rules and regulations of the specific type of IRA being rolled over to avoid any negative consequences.
Q. Are these crypto IRAs safe?
A. These IRAs are holding the crypto, so they are at risk of hacking and theft. However, most of them have insurance policies protecting the consumer. Consider these factors when deciding which IRA to use. The U.S. government regulates IRAs, so there is some oversight as to how these are administered. But crypto as an asset class does have some degree of risk, particularly in the short-term, as the markets are volatile. It's important to consider the long-term implications of cryptocurrencies, especially when planning for retirement, which is like playing the larger time horizon versus a shorter one.
Q. Is it possible to buy crypto from my eTrade or Schwab account or use my existing IRA provider?
A. No, investors will need to open a new account. There are very few crypto IRAs on the market today. Storing and securing crypto for a regulated product like an IRA is very specialized, so only a few providers offer these services - they are listed in this article, along with feature set, fess and more to get investors started.
Q. What are the fees for a Crypto IRA?
A. Crypto IRA fees can range from company to company based on security, insurance, trading and support. Most crypto IRAs will have a holding fee, minimum monthly fee and trading fees. Security and fees are the most critical factors when selecting a company.
Q. What is the main advantage of a Crypto IRA vs. a public crypto index fund?
A. The main advantage is taxes. Crypto IRAs allow investors to defer capital gains taxes until withdrawal of funds. Buying a publicly traded crypto index fund with a regular brokerages account may be subject to capital gains tax when sold.
Q. How are crypto IRAs taxed?
A. They are taxed similarly to traditional IRAs. Taxes are paid once an investor reaches attainment of withdrawal age (59 ½ years). If withdrawn before then, a penalty is charged.
Why not just buy crypto directly instead?
Totally possible! But then the investor must hold the crypto and would pay capital gains taxes when it is sold.
Q. Is crypto IRA investing only in bitcoin or many cryptocurrencies?
A. Many managed crypto IRAs invest in a basket of cryptocurrencies. Some of them are bitcoin-only. Be careful while purchasing crypto-based funds. Many bitcoin funds are just that - no diversification investments in other cryptocurrencies. It's important to recognize that there are many other cryptocurrencies outside of bitcoin that could offer potential upside.