While the process of cryptocurrencies entering the mainstream is a long and difficult one, the popularity of digital coins is helping it advance in numerous different ways. One use case for digital currencies is their use in IRAs (Individual Retirement Accounts).
The so-called Bitcoin IRAs have been around for a number of years lately, and many of them are offered by traditional IRA services that have decided to go crypto. However, in recent years, a lot of new services, designed for providing Bitcoin IRA services specifically, have also emerged. These services are growing more and more popular, as they allow investors to include digital currencies in their retirement portfolios.
The entire process is easy to go through, and it brings additional tax benefits. We have picked some of the best and most popular among these services, so let’s take a look at what they have to offer.
BlockMint is a service that was launched in 1997 by a precious metals firm, Lear Capital. The IRA service allows US investors to diversify their retirement portfolios by adding cryptos. The company offers two kinds of accounts — regular IRAs and 401(k)s. Right now, these accounts are accepting up to 6 different cryptos, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, and XRP.
Broad Financial is another financial services company that has recently launched a crypto IRA program. The company, which is headquartered in New York since its launch in 2004, specializes in solo 401(k)s and self-directed IRAs ever since it went crypto in 2017. This means that customers will not have to deal with any sort of a middleman or a third party that might introduce additional costs. Their retirement account offers are known for being very tax-beneficial, and their customers can deposit up to five different coins into them, including Bitcoin.
Regal Assets Bitcoin IRA
Next, there is Regal Assets Bitcoin IRA program, offered by a California-based company which serves as an alternative investments firm. In the past, the company’s focus was mostly on precious metals. However, they recently decided to go crypto as well. Now, the company’s clients can enjoy both, crypto and precious metals IRAs alike. One thing that makes this firm different than the others is that it has no preference regarding the coins that their customers can store. Any cryptocurrency can be added to their retirement portfolios, and the decision relies on the customer alone.
As mentioned, apart from the traditional companies that have gone crypto when digital coins started gaining popularity, there are also numerous new services that were created specifically for crypto IRAs. One such company is BitcoinIRA, which has managed to become one of the leading new firms of this type in the crypto industry. The company is based in California, and it was launched in 2016. It allows users to invest a number of different cryptocurrencies including Bitcoin, Zcash, Ethereum, Litecoin, XRP, Bitcoin Cash, and Stellar.
Another firm that emerged to offer Bitcoin IRAs is BitIRA. This is a company that was launched in 2017, and since then, it has been offering a number of different account options, including traditional IRAs, SEP, Roth IRAs, or SIMPLE accounts. The service offers investors to manage these accounts and invest multiple coins, which provide tax benefits while being kept safe in cold storages.
Noble Bitcoin is another company based in California which started operating in 2016. While the firm started with a strong focus on Bitcoin alone, it has added additional cryptos as investment options since then. As other firms, Noble Bitcoin also allows investors to add coins to their portfolios and manage them themselves, without having to rely on a third party. Apart from BTC itself, investors can also add Ethereum, Litecoin, and XRP at this time.
First Digital IRA
Another California-headquartered firm, First Digital IRA, started operating in 2017 with a goal of enabling US-based investors to add cryptocurrencies to their investment portfolios. Similarly to Regal Assets Bitcoin IRA, this company also allows investors to work with any digital asset they want. Investors can also choose a type of account they wish to open including 401(k)s and IRAs.
Finally, there is CoinIRA, which is also a firm launched in 2017, which makes it relatively new. The company offers different types of retirement accounts, with the current options being IRA, 401(k), 403(b), SEP, or TSP. Coin