News
The 10 best Bitcoin IRA companies: Retirement investments in cryptocurrencies
Bitcoin has experienced astronomical growth. In 2010, a man bought two pizzas for 10,000 bitcoin tokens. That’s some expensive pizza; those coins would be worth over $600 million today.
With bitcoin’s stellar performance, it’s no surprise that more people are investing in bitcoin and other cryptocurrencies. They can be appealing options, and they allow you to diversify your portfolio with alternative assets.
With a self-directed individual retirement account (IRA), you can invest in bitcoin and other tokens in a tax-advantaged retirement account. There are many self-directed IRA providers, so we identified the 10 best Bitcoin IRAs based on their investment requirements, fees, available cryptocurrency tokens, security, and customer service.
The 10 best Bitcoin IRA companies
Cryptocurrencies are relatively new, and traditional investment firms and brokerages don’t offer Bitcoin IRAs. Instead, they’re usually offered by smaller, startup companies that have launched to address the growing demand for these accounts. There are many new companies popping up, so it’s important to do your homework to choose a reliable provider with competitive fees.
Below are choices for the top 10 Bitcoin IRA providers of 2024; fees, investment minimums, and available tokens are up to date as of July 18, 2024, and are subject to change.
Best overall: Swan Bitcoin
About: As with most Bitcoin IRA companies, Swan Bitcoin is young; the California-based company was founded in 2019. Swan offers Bitcoin IRAs, allowing people to open Roth, Traditional, Simplified Employee Pension (SEP), or Savings Incentive Match Plan for Employees (SIMPLE) IRAs and invest in bitcoin. Unlike other companies, Swan’s current focus is solely on bitcoin rather than other tokens.
Swan Bitcoin
| Consumer ratings: | Trustpilot: 4.5/5 |
| Minimum deposit to start an account: | $0 |
| Annual or monthly fee: | $20 per month or 0.25% annually for balances over $100,000 |
Why we picked Swan Bitcoin
Swan Bitcoin focuses on bitcoin investments, and its rates are significantly lower than the rates of its competitors. While other companies require minimum investments of $3,000 or more, Swan doesn’t have a minimum balance requirement, and it has a stellar reputation for customer support.
In addition to Bitcoin IRAs, the company also has a private client option for high-net-worth individuals and businesses. Its private client segment provides a concierge-type level of service to address this group’s unique needs.
Swan customer support
You can reach customer service by email or scheduling a call with a specialist. You can schedule a call online.
Swan cryptos available for IRA investments
Unlike other companies, Swan is a bitcoin specialist, so bitcoin is the only token it offers.
Swan Bitcoin customer reviews
Swan has stellar customer reviews. On Trustpilot, over 1,000 customers left reviews, giving the company a TrustScore of 4.5 out of 5, placing it in Trustpilot’s “excellent” category. Reviews praised the company’s efficient support, low rates, and educational materials. As one reviewer wrote:
“I am impressed by Swan’s straightforward approach to buying bitcoin. I love the fact that my first $10,000 purchases are free of service charges. My experience with the help desk has been excellent. New account holders should note that Swan operates a very limited support operation to keep costs minimal. However, the quality of the support is exceptional. Most of the interaction is by email, which is fine once I understood the way they work. Overall, I am very happy with the high degree of professionalism throughout the platform.”
Best for crypto options: Coin IRA
About: Coin IRA was founded in 2017, and according to the company, it was one of the first providers of Bitcoin IRAs. It’s based in California, and the company partners with Equity Trust as the custodian for investor account holdings.
Coin IRA
| Consumer ratings: | Trustpilot: 3.7/5 |
| Minimum deposit to start an account: | $5,000 |
| Annual or monthly fee: | $0 |
Why we picked Coin IRA
Some companies offer a few tokens, but Coin IRA has 18 cryptocurrencies you can choose from, including major tokens, such as bitcoin and ethereum. There are other companies that offer more tokens, but Coin IRA doesn’t charge annual or monthly fees, and it also allows investors to invest in precious metals, and cryptocurrencies in the same IRA.
Coin IRA customer support
Coin IRA’s customer support team is reachable via phone or email, and there’s a chatbot for basic questions. Customer support is only available Monday through Friday.
Coin IRA cryptos available for IRA investments
Through Coin IRA, you can invest in a range of cryptocurrencies, including:
- Bitcoin
- Ethereum
- Litecoin
- Stellar
- Uniswap
- XRP
You can also invest in whole or fractional quantities of precious metals, including fine gold, silver, and platinum.
Coin IRA customer reviews
There are limited reviews about Coin IRA online; on Trustpilot, there is one customer review. On Consumer Affairs, there is also one review; both of the reviews are positive, but the limited number makes it difficult to get a full picture of the typical customer experience.
Best wallet and custodian options: My Digital Money
About: My Digital Money is a very new company; it was launched in 2021. Through the California-based company, you can open a Bitcoin IRA and buy and sell cryptocurrency and precious metals.
My Digital Money
| Consumer ratings: | Trustpilot: N/A |
| Minimum deposit to start an account: | $5,000 |
| Annual or monthly fee: | $0 |
Why we picked My Digital Money
My Digital Money is a young company, but it’s instituted intensive security measures, including a segregated cold storage that is completely offline (and stored in decommissioned nuclear bunkers). The company also maintains digital asset crime insurance to protect against theft of digital tokens while they’re held in its custody, and it also has a vault risk insurance policy to protect the holdings in its custody.
My Digital Money customer support
My Digital Money is accessible via phone or email Monday through Friday.
My Digital Money cryptos available for IRA investments
Through My Digital Money, you can invest in 18 cryptocurrencies, including:
- Bitcoin
- ChainLink
- Compound
- Decentraland
- Litecoin
My Digital Money customer reviews
Reviews about My Digital Money are scarce, which is unsurprising since it’s such a new company. With the Better Business Bureau (BBB), it has a 5 out of 5 rating based on a handful of reviews.
As one customer said:
“My Digital money is very dependable and, if you need help, they will answer the phone or give you a call back. I feel like they are a trustworthy company to invest with.”
Best for low investment minimums: AltoIRA
About: AltoIRA was launched in 2015 to make alternative investments, such as investing in startups or other assets, accessible to everyday investors. The company is based in Tennessee, and it introduced its cryptocurrency IRA in 2020.
AltoIRA
| Consumer ratings: | Trustpilot: 4.3/5 |
| Minimum deposit to start an account: | $10 |
| Annual or monthly fee: | $0 to $400 per year, depending on your invested assets |
Why we picked AltoIRA
For those with limited funds who want to invest in cryptocurrency, the high investment minimums — often $3,000 or more — of other companies can be discouraging. By contrast, AltoIRA has an investment minimum of $10, making it a good option for those starting out.
There is no setup fee with AltoIRA, nor does it charge custodian fees. The company has strong customer reviews.
Important: There was an attempt to hack AltoIRA’s systems in July 2021. However, no funds were compromised. Since then, AltoIRA has bolstered its security, and it has a high security rating.
AltoIRA customer support
AltoIRA is reachable Monday through Friday via phone or email. There is also a chatbot you can use to get answers to basic questions.
AltoIRA cryptos available for IRA investments
AltoIRA has over 200 cryptocurrency offerings, including well-known tokens:
- ANKR
- ApeCoin
- Bitcoin
- Cardano
- Ethereum
- Polygon
- Solana
AltoIRA customer reviews
AltoIRA has received over 1,000 reviews from customers on Trustpilot, and it has a rating of 4.3 out of 5, giving it the “excellent” distinction.
Customers complimented the helpfulness and responsiveness of the company’s customer service representatives. As one reviewer wrote:
“Being a beginner crypto investor with limited computer skills, the folks at Alto were very patient and kind in helping me navigate online to set up and manage my account. They helped with moving funds into and out of my wallet. Once I walked through the process, it wasn’t as complicated as I thought. Everything you need is explained and, if you have questions, they have answers. They are very professional. You couldn’t ask for better service.”
Best for 24/7 trading: Bitcoin IRA
About: Bitcoin IRA is one of the best-known Bitcoin IRA providers. It launched in 2016, so it’s also one of the oldest companies specializing in cryptocurrency IRAs. Its corporate office is based in Nevada.
Bitcoin IRA
| Consumer ratings: | Trustpilot: 4.4/5 |
| Minimum deposit to start an account: | $3,000 |
| Annual or monthly fee: | 0.08% of assets under management |
Why we picked Bitcoin IRA
With many companies, such as Bitcoin Advizers or BlockMint, trades that you submit are only completed during the providers’ normal business hours. With cryptocurrencies, such as bitcoin, prices can fluctuate quickly, so that delay can be costly. With Bitcoin IRA’s 24/7 trading platform, you can buy and sell assets in real time. For those who want to have more control over their trades and when they settle, that feature is a significant advantage.
Bitcoin IRA customer support
Bitcoin IRA’s customer support is only available via phone. You can call its general support line, or you can schedule a call with a Bitcoin IRA specialist.
Bitcoin IRA cryptos available for IRA investments
Despite its name, Bitcoin IRA allows investors to put their money in a broad variety of tokens. It offers 60 cryptocurrencies, including:
- Bitcoin
- Dash
- Ethereum
- Litecoin
- Solana
Bitcoin IRA customer reviews
Reviews of Bitcoin IRA are fairly limited; there are only about 30 submitted through Trustpilot. However, the reviews that do exist tend to be positive; its TrustScore is 4.4 out of 5, giving it the “excellent” distinction.
Customers report that the customer support staff is responsive, without having to wait to speak to a live person. As one investor said:
“Working with Bitcoin IRA is an easy process. People there are nice, friendly, and helpful! They answered all our questions and helped with those items we needed help with!”
Best for no hidden fees: BitIRA
About: BitIRA was founded in 2017, and the company is based in California. In 2023, the company announced a new partnership with Galaxy Digital, a publicly traded cryptocurrency exchange.
BitIRA
| Consumer ratings: | Trustpilot: N/A |
| Minimum deposit to start an account: | $5,000 |
| Annual or monthly fee: | None |
Why we picked BitIRA
BitIRA may be a good option for those looking for an IRA without annual or monthly fees. Instead of charging annual fees or monthly fees, it charges a 5% transaction fee on buys (there is no fee on sales of your holdings). BitIRA partners with Equity Trust to act as custodian; through the partnership, Equity Trust doesn’t charge setup fees or annual maintenance fees.
BitIRA customer support
Customer support is reachable by phone or email Monday through Friday. To open an account, you must contact a digital currency specialist rather than opening it on your own online.
BitIRA cryptos available for IRA investments
Currently, BitIRA offers about 17 cryptocurrencies. Investors can invest in:
- Bitcoin
- ChainLink
- Stellar Lumens
- Ripple
- Uniswap
BitIRA customer reviews
There are no reviews of BitIRA on Trustpilot, and reviews on other platforms are limited. There are fewer than 10 reviews submitted with the BBB, but based on those reviews, BitIRA has a 4.5 out of 5rating.
Best for investing options: Rocket Dollar
About: Rocket Dollar was founded in 2018, and it’s based in Texas. Through the company, investors can open cryptocurrency IRAs, and it also has a solo 401(k) option for self-employed investors.
Rocket Dollar
| Consumer ratings: | Trustpilot: N/A |
| Minimum deposit to start an account: | $0 |
| Annual or monthly fee: | $20 to $30 per month |
Why we picked Rocket Dollar
With most Bitcoin IRAs, you can only invest in a limited number of cryptocurrencies. But for those who want to invest in many alternative assets, Rocket Dollar is a useful option. You can invest in a variety of cryptocurrencies and, through its partners, you can also invest in other assets, such as artwork, real estate, or startup companies.
Rocket Dollar customer support
Rocket Dollar is reachable via phone or email. Its customer service line is open Monday through Friday.
Rocket Dollar cryptos available for IRA investments
With Rocket Dollar, you can invest in any cryptocurrency allowed by the IRS. Its cryptocurrency partners include Kraken, Gemini, and MJL Capital.
Rocket Dollar customer reviews
There are no reviews of Rocket Dollar on Trustpilot, with the BBB or Consumer Affairs.
Best Customer Service: iTrustCapital
About: iTrustCapital is a private company based in California. Founded in 2018, the company operates a trading platform where investors can invest in cryptocurrencies and precious metals. The company facilitates 401(k) or existing IRA rollovers, and investors can begin investing 24/7 from the company’s platform.
iTrustCapital
| Consumer ratings: | Trustpilot: 4.9/5 |
| Minimum deposit to start an account: | $1,000 |
| Annual or monthly fee: | $0 |
Why we picked iTrustCapital
Most cryptocurrency IRA companies are new, young startups, so it’s unsurprising that many of them have experienced growing pains and customer service issues. That’s why iTrustCapital is our choice for the best customer service; it has the highest Trustpilot rating of all the companies we looked at, with a near-perfect score.
Some providers are limited in their customer support options, but iTrustCapital has several ways to get help, and it also has a mobile app you can use to view your account and buy and sell cryptocurrencies.
iTrustCapital customer support
You can reach customer service by phone or email. You can also manage your account through a mobile app; the app is available for Apple and Android devices.
iTrustCapital cryptos available for IRA investments
With iTrustCapital, you can invest in about 40 cryptocurrencies, including:
- Bitcoin
- Ethereum
- Polkadot
- Shiba Inu
- Solana
- Uniswap
iTrustCapital customer reviews
iTrustCapital has a strong reputation for customer service. On Trustpilot, it has over 3,000 reviews, and it has a TrustScore of 4.9 out of 5, putting it in the “excellent” category. In their reviews, customers said they received personalized advice from knowledgeable representatives, and the process to set up an IRA was quick and easy. As one reviewer wrote:
“iTrust is a great company for Roth IRA(s). The process is easy and convenient. Additionally, the processes are thorough and secure. Alyssa made sure that I felt valued as a customer.”
Best for security: Equity Trust
About: Equity Trust is an IRS-approved custodian for self-directed IRAs. Through Equity Trust, you can invest in a variety of alternative assets, including real estate, precious metals and cryptocurrency. Equity Trust was founded in 1974, and it’s based in Ohio.
Equity Trust
| Consumer ratings: | Trustpilot: 2.8/5 |
| Minimum deposit to start an account: | $500 |
| Annual or monthly fee: | $225 to $2,250 |
Why we picked Equity Trust
Most cryptocurrency companies are quite young, but Equity Trust has been in operation for decades. As an IRS-approved custodian for alternative assets, such as cryptocurrency and precious metals, it has advanced security measures in place, including multifactor authentication (MFA), multisignature wallets, and cold storage security for cryptocurrency.
Equity Trust customer support
Equity Trust is reachable via phone or email.
Equity Trust cryptos available for IRA investments
To purchase cryptocurrency in an IRA, you have to work with one of Equity Trust’s partners. Its digital currency marketplace connects users to platforms, such as BitIRA, Coin IRA, My Digital Money, and Tax-Free Crypto. Available cryptocurrency tokens vary by partner.
Equity Trust customer reviews
Reviews about Equity Trust tend to be mixed. On Trustpilot, it has about 600 reviews, and it has a score of 2.8 out of 5, an “average” rating. Some reviews praise helpful customer service representatives, but many reviews report issues getting a hold of customer support with specific account issues.
Best for customization: BlockMint
About: BlockMint is a commission-free cryptocurrency trading platform, and its company is headquartered in California. The company was founded in 2017, and it’s owned by Lear Capital, a precious metals dealer and investment company.
BlockMint
| Consumer ratings: | Trustpilot: N/A |
| Minimum deposit to start an account: | $10,00 |
| Annual or monthly fee: | $499 per year or 0.5% per trade |
Why we picked BlockMint
Bitcoin IRAs tend to be limited in structure; startups usually have one fee structure. But BlockMint offers more customization; BlockMint has two options:
- Flat fee: The flat fee plan charges $499 per year. With that structure, there is no setup fee or trading fees.
- Flex fee: The flex fee option charges 0.5% per trade; there is no other fee, such as annual or monthly fees.
You can change your account plan on your account anniversary at no charge.
Plus, BlockMint has both IRAs and taxable investment accounts, so you can also invest in cryptocurrency without worrying about early withdrawal penalties.
BlockMint customer support
BlockMint’s customer support is only reachable via phone, and it only operates Monday through Friday.
BlockMint cryptos available for IRA investments
BlockMint allows investors to choose from 18 cryptocurrencies, including:
- Bitcoin
- Bitcoin Cash
- Compound
- Ethereum Classic
- Litecoin
- Uniswap
BlockMint customer reviews
BlockMint’s IRA offerings are quite new, so there are no customer reviews on Trustpilot or Consumer Affairs.
What to know about investing in Bitcoin IRAs
A Bitcoin IRA is a type of self-directed IRA that allows you to hold cryptocurrency in a retirement account. With traditional and Roth IRAs, investors are limited to stocks, bonds, mutual funds, or exchange-traded funds (ETFs). Self-directed IRAs allow investors to hold alternative assets, such as precious metals (including gold), real estate, or cryptocurrency. As with traditional IRAs, there are tax incentives to Bitcoin IRAs.
It is a relatively simple process to set up a Bitcoin IRA. The first step is deciding on a Bitcoin IRA company that satisfies IRS regulations to hold your assets. Once you open an account, fund it, and place your crypto orders, you’ll then need to choose a custodian to securely store your tokens.
How to choose a Bitcoin IRA company
When choosing a Bitcoin IRA company to partner with, it’s important to understand the risks, such as potentially high fees, cybersecurity concerns, or poor customer reviews. You want to decide on a company with a reputation with fair pricing, and one that has strong security measures in place to protect your digital assets from hackers.
Alternatives to Bitcoin IRA
Bitcoins aren’t the cryptocurrency available to invest through a self-directed IRA. Other approved cryptocurrencies include:
- Bitcoin Cash
- Basic Attention Token
- Chainlink
- DAI
- Ethereum
- Litecoin
- Stellar Lumen
- Uniswap
Aside from cryptocurrencies, investors can set up a self-directed IRA account to invest gold, silver, platinum, palladium, real estate, and private equity among other alternative investment options. If an investor prefers a less risky path for their retirement funds, they can stick with a traditional IRA or Roth IRA account.
Frequently asked questions
How can I start a Bitcoin IRA account?
Investing in bitcoin and other cryptocurrencies through a self-directed IRA account may seem daunting at first, but the process is rather simple. You must first choose an IRA company to create a self-directed account with. Then, fund the account and place your bitcoin orders.
Are Bitcoin IRAs safe?
In general, there are known risks with investing in bitcoins and other cryptocurrencies because they are digital assets and potentially susceptible to cybersecurity concerns. That being said, the risk is mostly mitigated when you choose a reputable IRA company to invest with.
Are Bitcoin IRAs a good investment option?
Bitcoins have become the most popular cryptocurrency and have seen massive increases in value over the years. However, there’s still a risk of volatility with bitcoins as with other cryptocurrencies, such as ethereum. As with any investment, before funding a Bitcoin IRA self-directed account, be aware of the potential highs and lows.
Our methodology
- Fees (45%): What investors pay in fees can be the difference between a successful investment or a loss. We put a lot of weight behind how much Bitcoin IRA companies charge in monthly or annual fees, other fees, and minimum investment requirements.
- Customer service/reputation (30%): How a Bitcoin IRA company conducts its business with customers matters. We analyze the customer service ratings, years in business, pricing transparency, and available cryptocurrency options.
- Security (25%): As with any digital assets, Bitcoin IRA must be secure and protected from any potential cybersecurity threat. We evaluate how secure the platform is, storage options available, and custodians’ reputations.