What is Bitcoin IRA and Which Ones to Consider Using in 2019

As Bitcoin, and cryptocurrencies in general, continue to advance in the world of modern finances, many are finding new use cases for this form of money. Although cryptocurrencies still have limited use cases, many of them are finding new ways to be useful, which will give them an advantage and secure their long-term survival.

Bitcoin, for example, already has numerous use cases, including purchases of goods and services, crypto trading, loans, savings, and more. Another of its use cases includes individual retirement accounts or IRAs. Simply put, this represents an account that individuals can open at a number of financial institutions, and use it to save money for their retirement.

Many choose to open these accounts due to lower taxes, which allow them to save up more. IRA comes in several types, including traditional IRA, rollover IRA, and Roth IRA. Traditional IRA is as simple as it sounds — users simply open an account and start adding money that they can afford to deduct from their income.

Rollover IRA includes “rolling the money over” from the qualified retirement plan to the IRA, while Roth IRA allows users to deposit after-tax money which can then grow completely tax-free

Bitcoin IRAs work pretty much in the same way, except you deposit Bitcoin instead of traditional currencies. While some of the older, traditional IRAs have decided to expand their businesses in order to add cryptocurrencies, there are also several IRAs that were designed and created for dealing with cryptocurrencies specifically. Here are some of the best Bitcoin IRA to choose from in 2019:

1) BitcoinIRA

BitcoinIRA is an IRA company that provides all three types of IRAs, and it works with multiple cryptocurrencies, including Bitcoin, XRP, Ethereum, Bitcoin Cash, Litecoin, and Ethereum Classic. It also provides a number of services, including consultation with experts, updated price charts for BTC and ETH, a downloadable e-book that serves as a guide to Bitcoin IRA investing, and more. It is an excellent choice for investors that wish to have a diverse selection of cryptocurrencies for their IRA, and all of the invested coins will be kept safe in a special wallet with a three-layered security system. Using it is easy, which makes it perfect for experienced investors and newcomers alike.

2) Broad Financial

Broad Financial is a company that allows its customers self-directed IRAs, as well as solo 401(k)s. The company has been offering IRAs for a long time, finally going crypto recently, and including Bitcoin. It allows users greater flexibility with their BTC investments, and it includes a flat fee in order to invest. In other words, after users pay $1,395 (or a different amount, depending on the state), they can keep investing any amount they want.

The company also offers helpful information about Bitcoin and even a specialist that can provide professional advice to users that are experiencing difficulties. Starting off is quick and easy, and users can do it online or via a phone call.

3) Regal Assets

This is the first company to receive a license to trade crypto commodities, as well as the first to include alternative assets IRAs for BTC. Apart from Bitcoin, Regal Assets also allows its customers to invest in XRP, Ethereum, Litecoin, and Monero. It provides users with a free rollover kit, and it offers different security and portfolio packages. Furthermore, it is available at any time of day and night to answer users’ questions via chat.

4) First Digital IRA

First Digital IRA provides users with the ability to invest in Bitcoin, XRP, and Ethereum IRAs. However, it also includes other investments, such as mutual funds, stocks, real estate, bonds, precious metal, raw land, and alike. The company also offers all three types of IRAs, as well as a cryptocurrency specialist who can provide users with professional advice and set them up with their digital IRA.

The company’s expert can also help with providing paperwork, secure storage for digital coins, as well as all the information necessary for making a proper investment decision. This is by far the best option for those who want the service to handle their digital IRAs, which may not be for everyone, but it can be quite helpful to some who require assistance with their digital investments.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels