BitIRA Reviews: What to Know Before Using This Bitcoin IRA Platform?

BitIRA is a new bitcoin-based IRA company based out of California. They offer the world’s first insured cold storage solution for a bitcoin-based IRA.

By signing up with BitIRA, you can hedge against inflation, diversify your retirement portfolio, enjoy tax-free growth, and other benefits.

Is BitIRA the right solution for you to diversify? How exactly does it work? Learn everything you need to know about BitIRA by reading our full review.

What Exactly is BitIRA?

BitIRA is an IRA company that takes care of setting up a bitcoin-based IRA for you.

It’s an ideal option for you if you are interested in diversifying your account holdings. This new form of IRA is a self-directed IRA, just like any other type of IRA, such as a gold IRA or other precious metals-based IRAs.

By opening a bitcoin IRA, you may enjoy various tax advantages when holding bitcoin in a self-directed IRA. In fact, many people roll over their existing IRA into a Bitcoin IRA to enjoy these tax benefits.

In addition to placing bitcoin in an IRA, BitIRA lets you set up other forms of crypto-based IRAs, such as Bitcoin Cash (BCH) IRAs, Ethereum (ETH) IRAs, Ethereum Classic (ETC) IRAs, Litecoin (LTC) IRAs, ZCash (ZEC) IRAs, Stellar Lumens (XLM) IRAs, Chainlink (LINK) IRAs, and Aave IRAs.

By signing up online, BitIRA will supply you with a completely free info guide on digital IRAs, the potential tax advantages, and everything else you need.

How Does BitIRA Work?

The entire bitcoin IRA setup process is handled by BitIRA. BitIRA assists you in setting up a self-directed IRA with a custodian after you set up a bitcoin IRA with the company.

BitIRA assists you in coordinating the three essential components of establishing a Bitcoin IRA, which are:

Custodian: You must have a custodian who oversees the administrative obligations of your self-directed IRA, according to IRS regulations. BitIRA connects you with a custodian who will take care of your account for you.

BitIRA also connects you with a company (Genesis) that handles all digital currency purchases and sales. You utilize Genesis to purchase and add specific IRA-eligible digital currencies to your account.

Wallet: Rather than handling your wallet and keys, BitIRA stores them for you. You don’t need (or even want) a hardware wallet, and you don’t have to keep track of your keys. BitIRA, on the other hand, keeps your bitcoin in offline cold storage. All transactions are encrypted, and all assets are covered by an insurance policy of 100 million dollars.

Equity Trust Company (ETC) and Preferred Trust Company (PTC) are two of BitIRA’s partners (PTC). Both companies are self-directed IRA custodians and industry leaders. When you open an account with ETC or PTC, they will take care of all of your account’s administrative needs. You execute all transactions through Genesis, the central crypto trading platform after your account is open.

The IRS declared in 2014 that digital currencies, like some other categories of personal property, can be added to a self-directed IRA.

Now, you can customize your BitIRA crypto IRA in the following ways:

Type of IRA: You can set up an IRA with any classification you desire, such as a traditional, SEP, SIMPLE, or Roth IRA.

Different Crypto: You don’t necessarily only need to put bitcoin in your IRA. You can add ETH, ETC, LTC, LINK, ZLM, or several other crypto options, depending on your needs.

Traditional IRA Assets: You can also add mutual funds, individual stocks, or other traditional assets in your BitIRA account.

Other Alternative Assets: Since you’re setting up a traditional IRA, you may also add other unique assets into your retirement account, such as precious metals, tax liens, real estate, raw land, or other alternative assets outside the scope of traditional assets.


Main BitIRA Features & Benefits

Today, there are several major bitcoin IRA companies to accommodate your individual needs. However, BitIRA claims the can offer its customers superior safety and security that sets the industry standard. Originally, BitIRA was the first and only insured cold storage solution for a Bitcoin IRA. Today though, the company still claims intense levels of security over the competition.

Here are some of the many features of the bitcoin IRA:

Multi-Factor Authentication and Multi-Encryption: While encryption is often secure, encryption can be broken easily. That’s why BitIRA uses multi-encryption encoding for every transaction. Plus, each layer of encryption makes the underlying order of information much more difficult to be stolen, making your savings more secure.

Zero Keys or Devices to Track: You may misplace your private keys and lose everything if you don’t have a device or keys to track. That’s not how you should save for retirement. BitIRA eliminates the need to keep track of your private keys or device (such as a hardware wallet). BitIRA devised a foolproof technique to accomplish this:

BitIRA is in charge of receiving and validating incoming transactions. BitIRA takes the cash into cold storage as soon as the transaction is completed, thus erasing them from the internet.

You don’t have to be concerned about misplacing your hardware wallet or forgetting your private keys. Your retirement money is kept as safe as possible in cold storage.

Real Cold Storage: BitIRA claims to make your cryptocurrency assets invisible by storing them in a safe device that is completely unconnected from the internet (i.e., a true cold storage device). Until you need them, your coins vanish from the internet. BitIRA offers to store your money “in grade-5 nuclear bunkers” that are “monitored and secured by expert employees 24 hours a day, seven days a week.” Other bitcoin IRA firms do not provide this level of security.

End-to-End Insurance: BitIRA offers end-to-end insurance to protect your digital currency all the way from transit to storage. In other words, when your digital currency is in transit or storage, it is fully insured against hacking, theft, embezzlement, physical loss, damage, or even destruction. BitIRA has comprehensive insurance of $100 million with a group of London-based insurance companies. Meanwhile, any cash present in your account is insured for up to $3.75 million.

CCSS Compliant: BitIRA’s bitcoin IRA setup process is considered compliant with Level 2 Cryptocurrency Security Standards, or CCSS. This group sets the standard for security techniques or methodologies for cryptocurrency. Unfortunately, most digital currency IRA providers do not meet the CCSS’s strict security requirements, but BitIRA does.

Why Invest in a Bitcoin IRA?

BitIRA claims you can benefit from numerous advantages and tax strategies with a bitcoin IRA. Some of the main benefits of a bitcoin IRA include:

  • Tax-free growth: As long as you hold your digital currency in your IRA, all of your gains are tax-deferred.
  • Diversification: Diversification is important, and a bitcoin IRA gives you one more investment vehicle to benefit from.
  • Security: All bitcoin IRA transactions are confirmed on a blockchain network via a peer-to-peer protocol.
  • Cut out banks: Bitcoin uses decentralized infrastructure that is untouchable by big banks. You can separate big banks and centralized powers from your normal retirement accounts.
  • Hedge against inflation: Bitcoin is a good hedge against inflation because its’ nature makes it impossible to artificially inflate supply, unlike physical currencies backed by central banks.

BitIRA Pricing & Fees

Unlike other IRA specialists, BitIRA will not charge a range of setup fees, storage fees, and maintenance fees. These fees were initially designed to cover the costs of setting up a bitcoin IRA, maintaining your bitcoin IRA with a trusted custodian, and storage in a secure facility. BitIRA no longer charges its new customers these fees, and removed all onboarding fees, storage costs and annual maintenance fees have been removed, along with the majority of all of their fees;

  • Setup fees – $50 one time fee
  • Minimum investment amount: $5,000

BitIRA Advantages

Although the bitcoin IRA space is fairly new, BitIRA already has a great reputation in the space. Most users agree that it works as advertised to provide excellent crypto IRA services and the company is considered one of the best in the space.

Some of the main advantages of BitIRA include:


  • Accounts are easy to set up and start trading
  • Multiple currencies are accepted, such as BTC, ETH, LTC, BCH, XLM, and more
  • End to end asset insurance is provided
  • Secure offline cold storage
  • BitIRA is one of the few reputable names in the space

BitIRA Reviews: What Customers Think

BitIRA has some of the strongest customer reviews online, and most customers agree the company lives up to its expectations. Here’s what my customers have to say about BitIRA and their experience:

  • Most customers like the simple, easy account setup process
  • Many users like how simple it is to start trading cryptocurrencies, even if you’re new to crypto
  • The multi-encryption coding for transactions provides top-level security
  • BitIRA offers plenty of cryptocurrencies to store or trade like BTC, BCH, ETH, LTC, XLM, and many more
  • Customers feel protected knowing their cold storage solutions are fully insured, protected 24/7, and designed to provide maximum peace of mind
  • Although the setup process is simple, many customers didn’t like you having to open an account with a digital currency specialist.

About BitIRA

BitIRA was founded in 2017 by team members of Birch Gold Group, some of the most well-known executives in the precious metals IRA space. They launched BitIRA with the strong belief that Americans need more access to non-traditional investment opportunities.

BitIRA partnered with Equity Trust Company and Preferred Trust Company as their custodians. They currently are based out of Burbank California, and can be contacted in the following ways:

  • Phone: (800) 299-1567
  • Mailing Address: 3500 W. Olive Ave, Suite 300, Burbank, CA 91505
  • Email: info@bitira.com
  • Email Form:https://www.bitira.com/contact-us

Final BitIRA Recap

BitIRA is a bitcoin IRA provider that makes it easy and simple for anyone to set up a digital currency IRA.

By signing up for their service as a new customer, BitIRA charges no onboarding, or storage fees and provides you with a cryptocurrency IRA to hedge your bets against inflation, enjoy tax-deferred gains, and diversify your retirement portfolio.

To learn more about BitIRA and how its services operate, visit the official website at BitIRA.com.

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