BitcoinIRA is an information website that connects you with Bitcoin IRAs, Ethereum IRAs, and more. Find out everything you need to know about the website today in our review.
What Is Bitcoin IRA?
BitcoinIRA is a website that aims to capitalize on the popularity of Bitcoin and other altcoins. A lot of investors are interested in Bitcoins and see Bitcoin as a valuable asset that’s only going to rise over time. Thanks to BitcoinIRA, you can learn more about Bitcoin IRAs, Ethereum IRAs, and other investment vehicles.
The website features detailed explanations of how to invest in Bitcoins, how to add Bitcoins to your IRA, and how to perform other Bitcoin-related investments. By calling a number on the website, you can get in touch with Bitcoin IRA specialists immediately.
How Does Bitcoin IRA Work?
A Bitcoin IRA works like any other IRA investment. You can have two types of IRAs – a traditional IRA or a Roth IRA. Whatever IRA you have, it needs to be self-directed for you to invest in Bitcoins.
The same can be said of any unique IRA investments – like precious metals or collectibles. Unless your IRA is self-directed, you’re not going to be able to choose your types of investments.
Bitcoin IRAs have become increasingly popular in recent years. After all, the value of Bitcoin has gone from almost nothing to well over $1,500 USD. Bitcoin has proven itself to be the most stable and powerful cryptocurrency on the internet. Today, more and more investors are looking at Bitcoins as a serious investment.
How Does Bitcoin IRA Help You Invest?
BitcoinIRA.com is an investment website that connects you with representatives who exclusively specialize in Bitcoin.
Using the website’s phone number (1-8777-936-7175), you can immediately get in touch with a Bitcoin IRA specialist.
Alternatively, you can email the company at info@bitcoinIRA.com, or use their online form to get in touch with a representative.
In any case, the role of BitcoinIRA.com is to get you in touch with an IRA custodian who lets you add Bitcoin to your retirement portfolio.
There’s a surprisingly short list of IRA custodians who allow Bitcoin IRAs in customer portfolios. Many custodians consider Bitcoin too speculative to be a retirement asset. They worry about how one legal ruling could cause the value of Bitcoin to plummet overnight – or at least, severely complicate its use.
Nevertheless, some of the IRA custodians who currently accept Bitcoin IRAs include:
- Regal Assets
- PENSCO Trust Company
- Millennium Trust Company
- The Entrust Group
For the last two custodians, neither of them explicitly mention that they accept Bitcoin IRAs. However, they’re frequently mentioned on other Bitcoin IRA lists.
Additional self-directed IRAs will let you buy Bitcoin through a dedicated fund. That doesn’t mean you’re buying Bitcoin directly. Instead, you’re buying shares in a fund that buys Bitcoin on behalf of customers.
Can You Legally Put Bitcoins In Your IRA?
An IRA is a flexible investment tool that lets you hold a diverse range of assets. An IRA doesn’t allow specific assets – instead, it only bans specific assets. You’re allowed to hold everything in your IRA except for all of the following assets:
- Alcoholic Beverages
- Certain other types of tangible personal property
According to the current legal framework, Bitcoin doesn’t fit into any of those categories. Yes, you could argue it fits into categories like “coins” or “tangible personal property” – but Bitcoin transcends multiple categories. Until an official ruling is released on the matter, Bitcoin will continue to be allowed in your IRA.
Who Made BitcoinIRA?
The Chief Strategist behind BitcoinIRA is a man named Ed Moy. Ed is the former director of the US Mint (he was the 38th Director of the US Mint between 2006 and 2011). He’s also an author, entrepreneur, sales executive, and consultant.
Over the last few years, Ed has built a reputation for speaking knowledgeably on the topic of Bitcoin and other cryptocurrencies.
Ed is currently the Chief Strategist of Fortress Gold Group, a company that provides IRAs in physical gold. He is also the author of the recent book, American Gold & Platinum Eagles: A Guide to the U.S. Bullion Coin Programs.
Ed doesn’t appear to be the founder of BitcoinIRA. However, he was recently named the Chief Strategist of the company. Press releases from the company are issued by Amith Nirgunarthy.
What About Ethereum IRAs?
In April 2017, BitcoinIRA announced the launch of Ethereum IRA, a self-directed IRA for the world’s second most popular cryptocurrency (based on market cap).
Like the company’s original Bitcoin IRA, the Ethereum IRA lets you hold real Ethereum in retirement accounts by choosing between traditional IRAs, Roth IRAs, 401(k)s, SEP IRAs, and more.
To store clients’ funds, BitcoinIRA.com has partnered with BitGo, which offers a multi-signature wallet and full compliance with IRS regulations for self-directed retirement accounts.
BitcoinIRA.com lists the following Los Angeles-area address as its headquarters:
1503 Ventura Blvd, Suite 1060
Sherman Oaks, CA 91403
In press releases, the company describes itself as “the only Bitcoin-based retirement investment portfolio that allows people to invest with actual bitcoins for their IRA or 401(k).” They describe that their platform “works with leading fintech professionals to provide secure, high-quality Bitcoin investments.”
Since launching in June 2016, BitcoinIRA.com has secured over $10 million worth of real Bitcoin in client custodial accounts.
Bitcoin IRA Summary
Most investment advisers would not recommend adding Bitcoin to your IRA. You’ll hear all of the usual arguments against Bitcoin – that there are too many unknowns, for example, or that the currency can plummet overnight due to one regulatory change.
In reality, your IRA is your retirement fund. You can choose whatever you like to invest in. The same rules of investments apply: diversify your investments, do your due diligence, and you can invest confidently in your retirement.