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Avoid These 6 Crypto Mistakes | Bitcoin IRA

Smart investors are turning to cryptocurrencies to diversify their portfolios and retirement accounts. Crypto investments can be effortless and affordable, and cryptocurrencies can be easily added to an IRA as part of a long-term investment strategy.  

However, the ease of crypto investing has also prompted new investors to make some avoidable mistakes. Understanding the best moves to take before that first transaction can make adding cryptocurrency to any portfolio more successful. 

Avoid: Investing in One Type of Crypto 

The most famous cryptocurrencies are Bitcoin and Ethereum. So, it’s tempting to invest in what seems familiar because it has been discussed the most 

However, a smart investor wouldn’t put all of their money in Apple stock, for example. Diversification is a better option, often producing better returns 

The same holds true for cryptocurrencies. There are more than 18,000 cryptocurrencies available to invest in, and Bitcoin IRA supplies access to more than 60 of the most popular. Diversifying a portfolio with crypto is as easy as diversifying with stocks.  

Avoid: Not Doing Diligent Research 

Cryptocurrencies produce whitepapers at the launch of their new currency to explain to investors and potential investors how this coin is different and what it supports. Each crypto project is designed to solve a specific problem. The whitepaper explains what problem a particular coin will solve and how it is expected to perform.  

Diligent research often involves reading the whitepapers, or at the very least, the one-pagers of each coin before investing. Also, investors can join forums that talk about each project to hear from other investors.  

It’s important to note how recently others have been talking about a coin, too. Ensuring that the coin is still relevant avoids the crypto investment mistake of falling for a scam. 

Avoid: Forgetting Your Keyphrase 

A keyphrase — also known as a passphrase or password — is designed to keep investments on the blockchain secure. The stories of investors with millions of dollars sitting in a crypto wallet they can’t access are legendary.  

Because of these stories, additional options are available to investors who want their crypto secure but can’t always remember their long keyphrase.  

With a Bitcoin IRA account you don’t need to worry about remembering a keyphrase because we do it for you.

Avoid: Investing Without a Plan 

It’s fun to want to dive into cryptocurrency investing as soon as a wallet has been opened. But, just as investing in stocks and bonds, starting without a road map could be a costly mistake.  

  • Understand both short- and long-term goals 
  • Research preferred projects 
  • Monitor market changes 
  • Manage risk  

Avoid: Thinking Short-Term 

Let’s say an investor put money into Bitcoin when it emerged in 2008. For the first couple of years, the price was barely above $0, and by 2011, had “skyrocketed” as high as $30. If the same investor had sold their shares at the end of 2011 for $5, that would seem like a decent return.  

But by 2017, nine years after the initial investment, the price of Bitcoin was at $20,000. 

Cryptocurrencies are showing long-term potential for investors considering a long-term investment, and an IRA offers a tax-advantaged place to house that investment.. For investors looking for short-term crypto trading, monitoring the market could be essential for success.  

Do: Use a Trustworthy Crypto Exchange 

One big mistake that most traders should avoid making is hopping onto the first platform they find that can assist with crypto trades.  

Bitcoin IRA is the world’s first and most trusted crypto IRA platform offering 24/7 trading to users. Investors can utilize the online portal or custom mobile app to buy, sell and swap more than 60 cryptocurrencies for their self-directed retirement accounts.  

Setting up an account is effortless, and IRA funds can be rolled over or directly deposited for easy access to trading.

Recommended articles: Guide to Cryptocurrencies in a Roth IRA

Crypto Investing Myths Debunked

Camilo Concha Co-Founder of Bitcoin IRA Wins EY Entrepreneur Of The Year® 2022 Greater Los Angeles Award | Bitcoin IRA

LOS ANGELESJune 17, 2022 /PRNewswire/ — Ernst & Young LLP (EY US) today announced that Camilo Concha Co-Founder of Bitcoin IRA was named a winner of the Entrepreneur Of The Year® 2022 Greater Los Angeles Award. The EY Entrepreneur Of The Year Award, now in its 36th year, is one of the preeminent competitive business awards for entrepreneurs and leaders of high-growth companies who think big to succeed.

Concha was selected by an esteemed panel of independent judges according to the following criteria – entrepreneurial spirit, purpose, growth and impact – among other core contributions and attributes. Concha was awarded the honor during a ceremony on Thursday, June 16.

“I want to congratulate all the other finalists alongside me. To be named a winner as one of EY’s Entrepreneurs of the Year 2022® Greater Los Angeles, is a true honor and want to thank EY for this recognition,” said Concha.

“I’m proud of what we have built, and the award is a testament to the amazing work accomplished by our talented team of leaders and dedicated employees at Bitcoin IRA”. Concha goes on to say, “I have spent my entire career as an entrepreneur and have been devoted to building companies and products that help people and have a lasting impact. My guiding light as an entrepreneur is staying focused on our mission in helping Americans retire and it has been a big part of the company’s success.”

Bitcoin IRA is the world’s first and most trusted, full-service crypto IRA platform with a mission to help Americans retire. The company pioneered the crypto IRA space and simplified the complex process, allowing users to buy, sell, and swap over 60 cryptocurrencies in their self-directed retirement account safely and securely. With the first-ever crypto IRA mobile app, Bitcoin IRA’s platform is available in real-time, 24/7, in all 50 states. As an industry leader, it has a fully integrated trust company, in addition to exclusive relationships with industry-leading, multi-signature digital wallets, like BitGo.

Under Concha’s leadership, Bitcoin IRA has processed billions in transactions and has over 150,000 users, with more than 3,500 5-star reviews. Bitcoin IRA offers up to $250million in custody insurance coverage for digital assets. Plus, the company embraces diversity across its organization, being comprised of 50% minorities. As the media’s go-to source for thought leadership, it averages 300 interviews per year from major outlets, including Forbes, CNBC, Bloomberg, CoinDesk TV, and The Wall Street Journal.


Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are presented by PNC Bank. In Greater Los Angeles sponsors also include Marsh USA Inc., New Tangram LLC, CBRE, Inc., Cooley LLP, Cresa Partners of Los Angeles, Inc., and Olmstead Williams Communications.

About Entrepreneur Of The Year ®

Entrepreneur Of The Year is one of the world’s most prestigious business awards program for unstoppable entrepreneurs. These visionary leaders deliver innovation, growth and prosperity that transform our world. The program engages entrepreneurs with insights and experiences that foster growth. It connects them with their peers to strengthen entrepreneurship around the world. Entrepreneur Of The Year is the first and only truly global awards program of its kind. It celebrates entrepreneurs through regional and national awards programs in more than 145 cities in over 60 countries. National overall winners go on to compete for the EY World Entrepreneur Of The Year title.

About EY Private

As Advisors to the ambitious, EY Private professionals possess the experience and passion to support private businesses and their owners in unlocking the full potential of their ambitions. EY Private teams offer distinct insights born from the long EY history of working with business owners and entrepreneurs. These teams support the full spectrum of private enterprises including private capital managers and investors and the portfolio businesses they fund, business owners, family businesses, family offices and entrepreneurs. Visit

About EY

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit

Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.

About Bitcoin IRA

Bitcoin IRA, available at, is the world’s first and most trusted digital asset IRA technology platform that allows users to buy & sell cryptocurrencies for their self-directed retirement accounts.

They provide a secure[i] self-trading platform for self-directed retirement accounts. Users can set up a qualified digital asset IRA, transfer funds from an existing IRA custodian, execute self-trades in real-time 24/7 through a US-based exchange, and store funds in industry-leading multi-signature digital wallets.

Bitcoin IRA has processed billions in transactions and has over 150,000 users with more than 3,500 5-star user reviews. The platform has been featured extensively in the media, with coverage in Forbes, CNBC, CoinDesk, and The Wall Street Journal, among other leading publications.

Bitcoin IRA is a financial services technology provider, and as such, is not a financial adviser, cryptocurrency exchange, custodian, wallet provider, initial coin offering (ICO), or money transmitter. Bitcoin IRA is privately funded.

Learn more about Bitcoin IRA at or call 866-333-4307.

i Security may vary based on asset chosen and custody solution available.


Recommended articles: Guide to Cryptocurrencies in a Roth IRA

Crypto Investing Myths Debunked