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BitIRA Reviews: Legit Bitcoin IRA Company or Real Complaints?

BitIRA is a California-based company that lets you invest in digital currency in your IRA retirement accounts. This firm was founded in 2017. According to BitIRA, it is the world’s most secure digital currency IRA.

Today, this company offers the first-ever insured digital currency storage solution for your Bitcoin IRA. If you register with this firm today, you can enjoy the following benefits:

  • Tax-free growth
  • Expand your retirement savings
  • Combat inflation and much more

A Brief Overview of BitIRA

If you’re looking to expand your retirement savings by investing in digital currency, BitIRA might be ideal for you. This company helps you set up your digital currency IRA to store your bitcoin in a self-directed IRA.

You can also enjoy tax-free growth once you register with this company. While this firm mainly offers bitcoin IRAs, you can also set up some other digital currency IRAs, including:

  • Litecoin
  • Chainlink
  • Bitcoin Cash
  • Aave
  • ZCash
  • Ethereum
  • Stellar Lumens
  • Ethereum Classic

Working Mechanism of BitIRA

BitIRA is one of the best firms when it comes to setting up a digital currency IRA. As soon as you sign up with this firm, you can set up your self-directed IRA with a custodian.

There are three primary components of signing up with this company. These include:

Custodian

According to Internal Revenue Service (IRS) regulations, you need a custodian alongside you to manage your IRA’s administrative duties. BitIRA helps you with that by connecting you with a custodian.

Exchange

This firm also allows you to connect with an exchange so you can handle all your IRA sales and purchases. This way, you can buy specific digital currencies.

Wallet

You no longer need to carry a physical wallet and keys while working with BitIRA. This company takes care of that part for you by securing your digital currency in cold storage. In addition to that, BitIRA offers a $100 million insurance policy to protect your assets while encrypting all your transactions.

Furthermore, BitIRA partners with two of the industry’s high-profile companies:

  • Preferred Trust Company (PTC)
  • Equity Trust Company (ETC)

These companies manage all your account’s services once you sign up for your account. According to a rule passed out by the IRS in 2014, you need to process all your transactions through Genesis (the central cryptocurrency trading hub).

Today, BitIRA allows you to customize your digital currency IRA through:

IRA Type

BitIRA gives you the option to create your digital currency IRA with any of your preferred IRA types, such as:

  • Roth IRA
  • Traditional
  • SIMPLE
  • SEP

Cryptocurrency Assets

Apart from adding bitcoin, this firm lets you add other digital currencies, including Aave, Ethereum, ZCash, and many more.

Conventional Assets

BitIRA also lets you add other valuable assets to your account, including:

  • Mutual funds
  • Stocks
  • Other traditional IRAs
  • The firm also allows you to add some alternative assets to your IRA account, including:
  • Precious metals, including coins and bars of gold, silver, and platinum
  • Real estate (raw land, commercial, or residential)
  • Tax liens
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BitIRA Perks and Features

It’s no secret that you can find numerous companies that deal with digital currency IRAs. However, BitIRA claims to offer the world’s most secure storage solution for your digital currency IRA. In addition to that, this firm always focuses on improving its security levels. Let’s explore some perks and features you can get from this company:

Multi-Encryption

Encryption plays a crucial role in securing your digital currency IRA; however, it’s vulnerable sometimes. With this in mind, BitIRA encrypts all your transactions using multi-encryption encoding for maximum protection. This makes it challenging to break the encryption code, making your savings secure.

No Tracking of Device or Keys

It’s natural for anyone to misplace or lose their keys or wallet, and BitIRA emphasizes this point. The firm has removed the need for a device such as a physical wallet or personal keys. BitIRA has done this by introducing a bulletproof system:

  • As soon BitIRA gets incoming transactions, it validates them
  • Once the transaction is processed successfully, the firm transfers the funds to cold storage, so they are removed from the network entirely

This way, your digital currency IRAs remain as secure as possible.

True Cold Storage

BitIRA claims to offer the world’s most secure way of storing your digital currency IRA while entirely disconnecting it from the network. As soon as BitIRA transfers your funds to the storage, they disappear from the system until you need them.

In addition to that, the firm claims that your funds are stored in grade five nuclear bunkers (monitored by dedicated staff 24/7). This is a level of security that some IRA firms fail to offer.

Insurance

Another top-notch feature this firm offers is end-to-end insurance to protect your IRA throughout the entire process (from transit to storage). This means your digital currency remains insured against theft, destruction, and physical loss. BitIRA partners with a panel of London insurance firms and has secured a $100 million end-to-end insurance policy. End-to-end insurance means that your assets are covered from the moment of purchase until they are safely stored in your cold wallet, including while in transit. Additionally, you will have $3.75 million worth of FDIC coverage for any cash that is in your Equity Trust Company account.

Compliance

Another perk of working with BitIRA is the company’s digital currency IRA process is compliant with the Cryptocurrency Security Standards (CCSS) – level two. While most digital currency IRA companies miss the mark on this, BitIRA takes it extremely seriously.

Benefits of BitIRA

You can enjoy the following benefits by working with BitIRA:

  • You can enjoy tax-free growth as long as you store cryptocurrency in an IRA
  • You can carry out all your digital currency IRA transactions through a blockchain network
  • You have the option to store your savings as mutual funds and stocks
  • You can lessen the risk of inflation by partnering with BitIRA

Over the years, BitIRA has gained massive popularity in the digital currency IRA space. While the company offers several benefits, it also has a few downsides.

Pros

  • It has a straightforward signup process
  • It has an easy trading process
  • It offers end-to-end insurance
  • It allows you to deal in multiple digital currencies, including ZCash, Ethereum, and more
  • It offers a secure storage solution
  • It has a proven track record in the digital currency IRA space

Cons

  • High minimum investment amount
  • Cryptocurrencies are still “new” to the market
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Comparison with Other Companies

Though BitIRA is one of the best companies to invest in digital currency for your retirement, it’s not the only option out there. Let’s have a look at the industry’s other well-known companies.

iTrustCapital

This is another top-notch company that came to people’s knowledge in 2018. This California-based firm offers a host of digital currencies to invest in, with nearly twenty-four coins listed. This firm stands out because it allows you to invest in gold and silver.

When it comes to minimum investment, iTrustCapital only requires half of BitIRA, $1,000. On top of that, this investment firm charges a flat one percent fee and a $29 fee per month. This makes it a top choice among investors.

Bitcoin IRA

This self-trading platform allows you to invest in a digital currency IRA on your own. This makes it perfect for DIY traders.

This investment firm has a lower minimum deposit requirement ($3,000) than BitIRA. On top of that, this firm has a feature that allows investors to earn up to six percent on their coins. In addition, this investment features more than sixty digital currencies to invest in.

Client Reviews on BitIRA

It’s no secret that BitIRA is right up there with the top-notch investment firms and has thousands of positive reviews and ratings. These include:

  • BitIRA is a top choice among clients since it has a straightforward signup process
  • Many clients prefer this firm since it makes it easy for them to trade digital currencies even as beginners
  • Some investors give the edge to BitIRA because it offers secure storage solutions, 24/7
  • Many clients prefer this investment firm because of its multi-encryption
  • Some users also like the range of digital currencies offered by BitIRA

The reviews mentioned above are from a general perspective. Let’s take a look at what particular clients say about BitIRA.

A Great Choice

“It’s not long since I came across BitIRA. This firm has turned out to be a fantastic choice for me to purchase digital currencies. I researched investment companies extensively, and I am so glad that I came across BitIRA.

The company’s employees are professional and well-educated. Jeremy, in particular, was extremely helpful in explaining the entire process concisely and simply. That helped me solidify my choice. I recommend BitIRA to everyone.” from Robert

-Robert

A Trusted Partner

Over the past four years, BitIRA has proven to be a trusted partner with exceptional customer service for me. In my opinion, BitIRA is the only trusted company I would recommend if you want to diversify your digital assets portfolio. This firm has top-notch, professional, helpful, and knowledgeable employees.

-Keat

BitIRA is Perfect

Investing in digital currencies can be challenging. It’s vital to do thorough research before taking any step. Once I spoke with BitIRA’s Jay as he explained the high-profile security levels built into the company’s system.

This convinced me to work with BitIRA. Thankfully, everything has gone flawless ever since I started working with BitIRA. The employees of this firm just know how to handle every situation efficiently and professionally.

-Oren

Top-Notch Professionalism

BitIRA is an incredibly professional investment firm! I found it honest with all the associated charges. I was in touch with its employees throughout the entire process as it took many weeks. BitIRA has a team of highly talented people who make it easy for everyone to go through the signup process. I recommend this firm to everyone looking to invest in digital currency.

-Percy

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Helpful Employees

It was my first time transferring funds from a conventional IRA to digital currency. Hence, I was a bit nervous about it. However, my nervousness was short-lived since the employees were so professional. They walked me through the entire signup process. Though there are charges associated with this type of account, they carefully explained everything.

I would have given this investment firm a full rating, but there was a bit more time lag than an electric transfer since the funds were given to me through a hard copy check. Nonetheless, I was pleased with the service, and I recommend it to everyone.

-John

Timely Services

About a year ago, I decided to purchase some digital currencies. Initially, I was reluctant to invest in digital currencies and work with investment companies. I researched and came across some popular investment firms – one of them was BitIRA.

Initially, I thought it was best to transfer digital currencies in a Roth so I would avoid tax consequences and RMDs. After thinking a lot, I transferred my Roth IRA to BitIRA. During this time-consuming process, Susan and Jay proved to be extremely helpful.

They walked me through the entire signup process, explaining each step of the process concisely and in a language that I could understand. They were so patient with my questions and answered all of them professionally. I think this is what makes BitIRA stand out among its competitors, making it a top choice among those looking to invest in digital currencies.

As the process went on, I did pretty well in the first four months. This made me transfer my conventional IRA to BitIRA as well. Since I started working with BitIRA, Jay has been a massive help – always responding promptly to my emails and calls. I highly recommend BitIRA to everyone out there.

-Gregory

Top-Class Consistency

If you’re looking for a top-rated digital currency investment firm, look no further than BitIRA. I have been working with this firm for a while, and without a doubt, its consistency is unrivaled by any investment company in the industry.

BitIRA has consistently come through me. This firm has a team full of professionals who answered my most challenging questions with tremendous expertise and courtesy. And how can I forget the high-security levels that this firm offers? It’s truly remarkable.

It allows me to have peace of mind in the blockchain world that itself lacks security at times. On top of that, the employees are highly consistent at responding to my calls and emails, making it easier for me to purchase and trade cryptocurrencies. I am delighted with BitIRA’s customer service. I recommend it to every investor out there.

-Marian

BitIRA has a Perfect Solution

It was my first time transferring my retirement funds from a conventional IRA to digital currencies. As a beginner, I was nervous about the entire process as I researched top-rated investment companies.

Out of numerous investment firms that I found online, BitIRA looked more appealing to me than any other company. So, without thinking twice, I decided to team up with BitIRA to transfer my retirement savings to digital currencies effectively and securely.

As my relationship with BitIRA grew over time, I found that this company has the perfect solution to my needs, and its employees know how to handle them. The company’s employees are always helpful and patient with my answers, making everything seamless and smooth. I highly recommend this service to others looking to make the most out of their retirement funds.

-Daniel

Knowledgeable Salespeople

I cannot give BitIRA’s salespeople a bigger compliment than saying they are second to none. They are responsive, prompt, professional, eager to help, knowledgeable, and patient with my questions. I had a great experience working with them. My sales representative explained the entire process to me (sometimes multiple times).

They did this to ensure that I was comfortable with each step. Another thing worth appreciating is that BitIRA values transparency. There were no hidden charges and surprises thrown at me.

The employees were knowledgeable, straightforward, and easy to understand. They explained the entire process and charges concisely and clearly – that too well ahead of time. More importantly, they executed everything as they had explained.

The entire process went at a reasonable pace, and everything looked flawless and smooth. The agents also made sure that they were always available for a chat, letting me know where we were in the process. I highly recommend this investment company to everyone looking to invest in digital currencies.

-Kevin

Everyone was Helpful

My experience with BitIRA was fantastic as I found everyone helpful there. They kept me updated on a regular basis while answering all my questions with patience. I am one hundred percent pleased with the service of this firm, and I have no complaints about them. Also, I highly recommend BitIRA to everyone looking to convert their retirement savings into digital currencies.

-Ai

Top-Notch Service

There’s a reason BitIRA is becoming every investor’s go-to choice when transferring their savings to digital currencies. This company offers top-notch service and has highly talented people on the team.

I’d like to give a special shoutout to Tracy and Jeremy for being extremely patient, helpful, and professional throughout the entire signup process. In my view, BitIRA is a top investment company with a range of quality products, high security, and insurance. I won’t lie, but I couldn’t find any company in my area that could rival BitIRA.

-Jennifer

About BitIRA

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BitIRA is a popular California-based investment company that allows people to transfer their retirement savings to digital currencies. Founded in 2017, this firm helps customers create digital currency IRA accounts. The company uses custodians such as Preferred Trust Company and Equity Trust Company to add high levels of security to its signup process.

You can reach out to BitIRA through:

Frequently Asked Questions

There is no denying that BitIRA has a massive fan base. This firm is one of the most popular investment companies. However, some people are still confused about some aspects of BitIRA. Let’s take a look at frequently asked questions about BitIRA.

Are there any penalty charges for converting my retirement savings into BitIRA IRA?

You won’t have to pay any penalties to transfer your retirement savings to digital currency via BitIRA. This is also valid for SEPs, 401(k), Roth IRAs, and SIMPLE IRAs.

How long is BitIRA’s signup process?

Converting your savings account into a new digital currency IRA account may take about three weeks. This time of the entire process depends on how quickly the custodians transfer funds.

Does the BitIRA account allow me to store other investments in it?

The answer is yes. When you sign up with BitIRA, you get the option to store your other valuables, including gold, silver, stocks, and so on.

When does the digital currency holding period start with a BitIRA retirement account?

This holding period commences the day after you purchase cryptocurrency in your IRA account.

Do I have the option to liquidate a BitIRA digital currency IRA?

The answer is yes. BitIRa’s representative will explain the entire process to you, helping you make decisions regarding your digital currency IRA account. However, whether you buy, sell, or liquidate your assets depends on you.

Final Words

Ever since it was founded in 2017, BitIRA has dominated the digital currency investment space. This high-profile firm is a go-to choice among many people who want to transfer their retirement savings to a digital currency IRA. BitIRA edges its competitors since it offers tremendous benefits, customer service, and top-notch security and insurance. That said, this investment company has attained thousands of positive reviews and ratings online so far. If you’re looking for an investment company to transfer your retirement savings to a digital currency IRA, BitIRA could be ideal for you.

ALSO READ: James Altucher The Big Book of Crypto Review: Get Rich with Digital Money?

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