Bitcoin IRA FAQ
There is an initial one-time service fee that varies depending on your investment amount. This service fee covers our comprehensive services, which include full support services for rollover of retirement funds, complete set up of a self-directed retirement account with BitGo Trust, and best-in-class security storage, among other offerings. In addition, there is a minimal custodian and security fee. Please call our representatives to get the fees for your particular investment amount.
BitcoinIRA.com currently offers Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Stellar Lumens (XLM), Zcash (ZEC), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Digital Gold (DG). You can invest in entirely in one coin or a combination of multiple coins.
You can rollover funds from an existing IRA, Roth IRA, SEP IRA, SIMPLE IRA, 403b, or 401k into a self-directed Bitcoin IRA account.
There is a $3,000 minimum and no investment cap. Retirement accounts that hold Bitcoins require significantly more steps and procedures than with cash purchases. Bitcoin IRA provides a full-service solution that facilitates the process for account set up, rollover of funds from an existing IRA custodian, access to our self-trading platform, and moving funds to a secure digital wallet for all retirement account types.
No. You are unable to purchase cryptocurrencies for your retirement account with any other custodian or exchange at this time. Bitcoin IRA is the world's first, largest and most secure platform to offer this service.
Bitcoin IRA is a full-service company and we will walk you through the process from start to finish. Our specialists will set up your account, rollover your funds from an existing retirement fund, execute the self-directed trade, and move your coins securely into a digital wallet. Learn more.
Spending or withdrawing the funds from any IRA account before you reach the retirement age of 59 ½ will result in early withdrawal tax penalties. Any IRA account is meant to be a fund drawn upon only after you retire. Selling your funds is approved so long as it is used to reinvest in an IRA or is held in your BitGo wallet in a liquid state.
No. At this time, you cannot transfer your current cryptocurrency holdings into a Bitcoin IRA. The IRS requires that buying into a cryptocurrency-based IRA be done with US dollars.
No. Your IRA funds are rolled over from your existing IRA account to a new IRA with BitGo Trust. Your funds remain in a retirement setting and will not result in any early withdrawal fees.
BitcoinIRA.com will attempt, but cannot guarantee, customers will receive any tokens derived from “hard forks.”
Interest-Earning Program FAQ
Your account earns interest by lending your assets through our partner Genesis Global Trading Inc (“Genesis”). Genesis is the largest institutional digital asset lender in the market with an active loan portfolio of $3.8B (as of 12/31/2020). In addition to its lending services, Genesis serves as a leading prime broker in the market offering both spot and derivative execution services along with custody. Learn more about Genesis here.
Your funds are sent to Genesis who lends them out to the leading institutions in the digital asset space including some of the largest hedge funds, trading firms and exchanges and does not underwrite any retail borrowers. Genesis utilizes a robust risk management framework composed of credit underwriting standards and procedures, 24/7 collateral management systems and live-time liquidity monitoring and the company has faced zero defaults since inception in March of 2018.
Please call us at 877-936-7175 if you have any other questions.