When choosing a company to manage your cryptocurrency IRA you must pick the one that works best for you and your retirement portfolio. This guide takes a quick look at the best Cryptocurrency / Bitcoin IRA companies on the market in 2020. We give a quick overview and breakdown of the key features each company offers.
Bitcoin and other cryptocurrencies represent an excellent alternative asset class that should be considered when it comes to investing your hard-earned IRA or 401k retirement funds. Diversification is key to protecting your retirement portfolio and cryptocurrency has become a very attractive investment option for IRA account holders. Given the uncertain times we live in, and the fragility of the traditional global financial system, many investors are turning to cryptocurrency as an alternative asset. Today, many investors are questioning the true value of traditional assets such as stocks, bonds, and mutual funds. This guide reviews the best Bitcoin and cryptocurrency IRA companies out there in 2020. We have narrowed it down to the top four and have given a quick overview of the key features for each.
Regal Assets are a company that specializes in offering cryptocurrency and precious metal investment options for IRA holders. They were the first company to achieve a global crypto commodity trading license and one of the first companies on the market to offer Bitcoin as an IRA investment option. They support investment in over 35 different cryptocurrencies, by far the best selection amongst the top companies on the market. Their online ‘Regal Wallet’ is an easy-to-use, highly-secure, digital asset trading tool. They score very highly in terms of online customer reviews and industry ratings.
Cryptocurrency IRA Specialists: Excellent cryptocurrency knowledge and experience. Regal are industry leaders in setting up and managing cryptocurrency IRA accounts.
- Security: the online tool used to manage crypto investment, the ‘Regal Wallet’, offers excellent asset security. Crypto investments are stored in segregated, offline, cold storage. This means your digital currency cannot be accessed by online hackers.
- 35 Cryptocurrency Options: Regal offers investment in thirty-five virtual currencies, including Bitcoin, Ethereum, Litecoin, Ripple/XRP, and many more. When it comes to the range of investment options they are the market leader.
- Positive Ratings & Reviews: they score highly in industry ratings & customer reviews. They hold a Triple AAA Business Consumer Alliance, A+ Better Business Bureau, and over one thousand five star TrustLink reviews.
- Precious Metal Options: Regal also offer investments in precious metals such as gold, platinum, silver, and palladium.
- Fully Insured: all investments are insured to full market value.
- Account Set-Up & Rollover Assistance: streamlined rollover and account set-up process. They can help you roll over a 401k plan or a traditional IRA account and get you up and running in as little as 24 hours.
- International Customers: a global service available and their services are not limited to just US customers. They also offer cryptocurrency investment packages to international customers.
BitIRA was established in 2017 by the well respected precious metal dealer the Birch Gold Company. They have received positive ratings from industry rating bodies such as the Business Consumer Alliance and the Better Business Bureau. Digital assets held by BitIRA are stored offline in a secure, guarded vault. They have also received positive feedback for their online user platform and for the fact that they do not charge selling fees when customers choose to cash in on their virtual assets.
Good Industry Ratings: BitIRA score well with industry rating bodies Better Business Bureau & Business Consumer Alliance.
- Secure Asset Storage: virtual currency is stored offline in a guarded vault.
- No Selling Fees: no fees are charged when you decide to cash in and sell your cryptocurrency.
- Customer Reporting Tool: their online customer reporting tool has received positive feedback.
- Eight Crypto Options: investment in eight cryptocurrencies is supported: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Ripple, Litecoin, Zcash, and Stellar Lumens.
- Insurance: insurance is available on all investments made with BitIRA.
- Minimum Investment $20,000: online reports have indicated that the minimum investment is $20,000.
Launched back in 2016 BitcoinIRA was also one of the first companies on the scene to offer Bitcoin as an IRA investment option. The company is a specialist in the Bitcoin market and has plenty of experience in assisting customers through the transition to a Bitcoin IRA. They support investment in not only Bitcoin but in six of the most popular cryptocurrencies – Bitcoin, Ethereum, Ethereum Classic, Bitcoin Cash, Ripple, and Litecoin. They have received positive feedback in terms of customer service and have plenty of experience in cryptocurrency trading and account management.
- Cryptocurrency Specialists: BitcoinIRA is a cryptocurrency specialist. As such you can feel confident you are in safe hands when it comes to crypto trading and investments.
- Six Cryptocurrencies Supported: they support investments in six cryptos: Bitcoin, Ethereum, Ethereum Classic, Bitcoin Cash, Litecoin, and Ripple.
- Secure Storage: all crypto investments are securely held in offline cold storage and multi-signature digital wallets are used when accessing accounts.
- Industry Ratings & Customer Reviews: As they are a relatively new company, there does not appear to be the same volume of data available in terms of industry ratings and customer reviews.
- Minimum Investment $3,000: the minimum investment required to set up an account is lower than some of their competitors, at just $3,000.
- End-to-End Service: complete service provided. Assistance is available for account creation, fund rollover, and account management.
- Insurance Available: insurance cover is available on all investments with partner company Lloyd’s of London.
Noble Bitcoin is a division of the Noble Gold Investment company. Noble Gold is a precious metal investment specialist. The Bitcoin division was launched in 2016 as cryptocurrency emerged as a popular investment option for IRA and 401k account holders. Noble Gold is a well-respected company across the US and is trusted by its customers. They offer investments in four cryptocurrencies: Bitcoin, Ripple, Ethereum, and Litecoin.
- Four Cryptocurrencies Supported: Noble Bitcoin support investment in four of the most popular currencies: Bitcoin, Ripple, Ethereum, and Litecoin.
- Secure Storage: like their competitors, they offer secure cold storage of assets and offer insurance on all accounts.
- IRA Experience: although the Bitcoin wing is relatively new, Noble has a wealth of experience in managing IRA accounts. They have been in the business for over 25 years. They are a well-respected and trustworthy company. They are held in high regard in the IRA market.
- Quick Set-Up: once the application has been completed and approved by Noble, your account can be up and running in as little as 5 minutes.
- Minimum Investment: online reports suggest the minimum investment is $20,000 is required to open an account. This is higher than some of its main competitors.
It’s worth spending time weighing up your options when it comes to choosing the best cryptocurrency IRA company when rolling over your 401k. As of 2020, many custodian companies are competing for business and it is a competitive market. Cryptocurrency is a new technology and an alternative asset, so it is probably best to go with a specialist company with plenty of experience in the field. A good custodian will be able to take you through all the steps involved, existing IRA rollover, setting up a new account, investing in cryptocurrency, and on-going account management and assistance. Below are some points to consider when you are assessing the options out there.
- Industry Experience & Specialisation: If you are planning on investing your hard-earned funds in cryptocurrency you will want to work with a company that has an excellent level of experience and specialization in the field. You will want to choose a company that understands the market and is highly skilled in the technical requirements needed to process cryptocurrency transactions and manage cryptocurrency IRA accounts. Asset security should also be of primary concern and should be an aspect of their service that you look into and ask some questions about. Typically you will want secure, offline, cold storage of all assets to protect them from hackers.
- Number of Cryptocurrencies are Supported? Take a look at the number of cryptocurrencies supported by each custodian. The greater the number the more flexibility you have when it comes to investing your IRA. Some companies offer quite a narrow range of crypto assets while others offer a much greater spectrum to choose from. There are a lot of new technologies out there with excellent growth potential in some of the lesser-known and newer cryptos. It could be worth taking some time to survey the market and invest wisely in up-and-coming cryptocurrency technology.
- Trading Flexibility: You may plan on engaging with the crypto market and making trades and investments as you see opportunities arise. If regular trading is something you are interested in you will need to choose a custodian that will facilitate this. In this case, you will need a company that can facilitate transactions quickly and with minimal red tape.
- Fees: It can be difficult to get information on account fees openly online. This is something you may need to contact the company directly about and make some inquiries. Fee structures will vary from one custodian to another so you need to find one that bests suits you and your crypto IRA account.
Why Invest IRA in Cryptocurrency?
Cryptocurrencies, like precious metals, offer an excellent option for asset diversification and wealth protection. Given the uncertain economic times we live in, and the recent coronavirus pandemic, many people wish to hedge their bets and move some if not all their wealth outside the traditional financial system. In addition to the benefits of being an alternative asset, cryptocurrency also has significant growth potential. It is still a relatively new technology and is in its infancy. Tech experts believe now is the time to get on board and invest in Bitcoin and other cryptocurrencies. For more information on how a Bitcoin IRA works, read our guide here. As with any investment, it is worth remembering that the value of crypto can fall as well as rise. The advice of a professional financial consultant should be considered before making any significant investments.
For more information, visit our homepage – Cryptocurrency IRA / 401k plans
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