BitIRA Reviews
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About BitIRA
BitIRA is a digital asset individual retirement account (IRA) provider that offers self-directed individual retirement accounts (SDIRAs) for investing in cryptocurrency. BitIRA offers 17 different cryptocurrencies to choose from, and all assets are held in an insured cold storage facility. You can open a traditional, SEP, SIMPLE or Roth IRA account.
- Access to 17 digital assets
- Tax-advantaged investment accounts
- Secure storage of assets
- Account rollovers available
- Cannot trade cryptocurrencies yourself
- Prices, fees and minimums not listed publicly
- Must call to open an account
Helpful Reviews
What is BitIRA?
BitIRA is a digital currency IRA company that helps investors set up a self-directed IRA (SDIRA) and purchase cryptocurrencies.
Since SDIRAs require compliance and multiple moving pieces to invest in alternative assets, BitIRA handles the details while charging a fee for its services. However, fees and pricing are not publicly listed, so you’ll need to call BitIRA for information.
How does BitIRA work?
BitIRA facilitates the process of legally creating the account, purchasing crypto through a partner exchange and working with a trusted custodian to securely store cryptocurrencies.
BitIRA is not an investment advisor or custodian, but rather a trusted third-party that handles the details of opening a cryptocurrency IRA and working with partners to invest in digital assets according to IRA guidelines.
BitIRA accounts are tax-advantaged, just like regular IRA accounts. You can open a traditional, Roth, SEP or SIMPLE IRA account — or you can roll over an existing 401(k) or IRA into BitIRA. Rollovers, specifically, may require selling the assets from your old investment account and receiving a check to send directly to BitIRA.
To open an account, you’ll need to call BitIRA and work with an account specialist. They will collect your information, present you with account options and investment choices and walk you through the process of getting your account opened.
BitIRA Services
BitIRA offers self-directed IRA accounts that allow you to purchase digital assets within those tax-advantaged accounts. BitIRA is the facilitator that handles establishing the account, facilitating purchases and working with a trusted custodian.
Here are the services offered by BitIRA:
- Account setup: BitIRA will help you open and set up a SDIRA. These accounts require following special IRS rules. BitIRA will walk you through the process, submit any paperwork required and finalize opening the account.
- Purchasing cryptocurrency: Once the account is set up, BitIRA handles all transactions. You’ll submit a trade request for a specific cryptocurrency and BitIRA will execute the trade through a partner exchange (Galaxy Digital).
- Crypto storage: BitIRA works with a partner custodian to store your cryptocurrency safely. The custodian (Equity Trust Company) stores all crypto in offline cold wallets to ensure crypto cannot be stolen. The crypto is also insured against theft or loss.
- Account monitoring: BitIRA gives you access to monitor your account and investments. You can also monitor your specific assets by inputting the digital wallet address through its wallet lookup tool.
How much does BitIRA cost?
BitIRA charges for services provided, but the costs are not available publicly.
There may be account setup fees, trading fees (through partner exchange Galaxy Digital) or custodian fees. To gain information about BitIRA fees, you’ll need to call an account specialist.
BitIRA FAQ
Who owns BitIRA?
BitIRA is owned by Birch Gold Group, a precious metals IRA company that focuses on alternative investments within self-directed IRAs.
What are the security measures BitIRA takes to protect my investments?
BitIRA works with trusted partners to help secure your digital assets. All digital assets are stored in an insured and secure cold storage facility to protect against would-be online thieves. BitIRA also employs “end-to-end” insurance of your digital assets, which covers the purchase, transfer and storage of cryptocurrencies within your IRA.
How is BitIRA compliant with IRS regulations?
BitIRA follows IRS guidelines for administering self-directed IRAs, as well as the SEC’s guidelines on prohibited items within an SDIRA. BitIRA also follows IRS Notice 2014-21 for tax treatment, recognizing digital currencies as personal property. BitIRA partners with a custodian that holds the assets, which is required by the IRS.
Can I roll over an existing IRA or 401(k) into a BitIRA?
Yes, you can roll over an IRA or 401(k) to BitIRA. For existing IRAs, you can work with the BitIRA team to facilitate the rollover. For a 401(k) account, you’ll need to make sure you are no longer employed or are allowed to roll over the account before starting the process. You will need to sell investments within your 401(k) or IRA, unless they are digital assets that can directly transfer to BitIRA.
Still have questions?
Is BitIRA legit?
BitIRA is a legit facilitator of self-directed IRAs for digital assets. It works with trusted partners (Galaxy Digital and Equity Trust Company) to ensure security of your investments, and has end-to-end insurance on the purchase, transfer and storage of cryptocurrencies inside your account.
But BitIRA is not transparent about account fees for opening an account, making trades or storing your crypto. It’s a good idea to get quotes and compare costs with other crypto IRA providers before making a decision on which one to use.
BitIRA Reviews
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Reviewed Aug. 5, 2021
I have trusted my Digital Assets Roth IRA to BitIRA for more than 4 years. Trusted partner with an excellent customer service. If you have a need to diversify your retirement portfolio into digital assets BitIRA is the only trusted company I would recommend. Hope this helps with your choice. Good luck.
Hello Keat,
Thank you for being a continuous and valued customer of ours! We look forward to continuing to build our relationship with you and providing you with the excellent service that you deserve. If you ever have questions or need anything in the future, we'll be here for you.
Reviewed Dec. 20, 2021
BitIRA has consistently come through for me. Even my toughest questions are answered with great expertise and courtesy. I am especially pleased with the high level of security for my crypto. It allows me to have peace of mind in a blockchain world that doesn't lend itself well to security at times.
Hi Marian,
We’re so happy you’re pleased with the security, as it is of utmost importance to us, and we go to great lengths to ensure maximum levels of it. We’ll always be around to answer your questions, no matter how tough they are :). It’s an honor having you a part of our family and we look forward to continuing our relationship with you.
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Reviewed Aug. 5, 2021
Investing in crypto currencies through a IRA isn’t easy. It’s important to do your research, especially concerning safety. Once I spoke with Jay and he explained the levels of safety built into the BitIRA/Preferred Trust system, I was convinced. I transfer funds into the SDIRA and purchased crypto. Everything has gone smoothly and professionally. And when crypto prices fell this summer I bought more, Again everything was handled perfectly. I’m very pleased.
Hi!
Thank you for trusting BitIRA with your cryptocurrency purchase! Security is of paramount importance to us and we're glad that reflected in your experience with us. We look forward to continuing to provide you with smooth and professional services. Should you ever need anything, we're here for you.
Reviewed July 27, 2021
I recently used BitIRA to transfer retirement funds from a traditional IRA as I wanted to invest in more cryptocurrency assets. They had a solution that was perfect for my needs and handled it exactly as described. Their communication was excellent and everything went seamlessly. I highly recommend their services to others.
Hi Stephen,
We really appreciate you taking the time to share your feedback. Our team works hard to implement a process that’s seamless and effective, so thank you for letting us know we are on the right track! We’re honored to have the opportunity to assist you with your cryptocurrency purchase. Please be sure to reach out to us if you need anything in the future!
Reviewed May 4, 2021
Very professional! They were open and honest with all the associated fees. I was always able to contact them throughout the process. Whole process took several weeks. There are several folks on the team, which made it easy to reach somebody, either through phone or email. I would recommend this company to anyone who wants to invest in Bitcoin IRA.
Hi Percy,
Thank you for taking the time to share your experience! Transparency is something of great value at BitIRA so we are happy to know you appreciated it! We’re thrilled to have you a part of the BitIRA family, so please don’t hesitate to call us if you need anything!
Reviewed May 4, 2021
The transfer of funds from a conventional IRA to BitIRA was new to me, so at first I was a little skeptical. The folks at BitIRA were very professional and they were there to help me through the process. There are costs associated with this type of account that you may not have with conventional IRAs, but they do take the time to carefully explain this to you. I would have given a five star rating, but the funds did have to transfer through me via a hard copy check, so there was a bit of a time lag versus an electronic transfer. I would definitely recommend BitIRA to a friend.
Hi John,
Thanks for trusting in BitIRA for your cryptocurrency purchase! It’s important to us that we take the time to explain everything to our customers and to help them every step of the way, and we are happy that reflected in your experience with us. We’re sorry that your previous custodian was unable to wire the funds and instead had to send a check. We wish that were in our control, as we want nothing more than for you to have a 5-star experience! We hope to continue our relationship with you, so please call us if you need anything in the future.
Reviewed April 27, 2021
I decided about a year ago that I should buy some BTC and ETH. I felt it was best to buy them in a Roth so there would be no tax consequences and no RMDs. So, I transferred my Roth IRA to BitIRA. It was not a fast process, but Jay and Susan helped me do it smoothly. I did so well in the first 4 months, that I transferred my traditional IRA as well. Jay has been great and answers my emails in a timely manner and even calls me when needed. I highly recommend BitIRA!
Hi Gregory,
Thanks for giving BitIRA the opportunity to assist you with your cryptocurrency purchase! We are so happy our team members made the process smooth for you, and that you did as well as you did in the first 4 months! We hope to continue our relationship with you, so please don’t hesitate to contact us if you need anything!
Reviewed Feb. 26, 2021
BitIRA’s salespeople are professional, prompt, responsive, transparent, knowledgeable, patient with my questions, and eager to help. My experience working with BitIRA was great. My sales rep explained every step of the process to me, sometimes multiple times, and made sure I was comfortable each step of the way. There were no surprises or curve balls thrown. The process and fees were all explained well ahead of time and executed exactly as they had been explained. Everything moved along at a reasonable pace, and the rep made sure to keep communication lines open so I always knew where we were in the process.
Reviewed July 5, 2018
Everyone at the company was very helpful, they answered all of my questions and kept me updated on the status of my rollover and purchase. I am 100% pleased with the service and I have zero complaints at all! Thanks to all the guys at BitIRA. I would highly recommend.
Hello, thank you very much for sharing your experience, we're happy to hear that you were pleased! We hope to be of more service in the future.
Reviewed June 25, 2018
Top notch service and support. Special kudos goes to Jeremy and Tracy who were extremely patient and took extra time to help me through the process. They seem to offer a very good product, with high security and insurance. I couldn't find any other company in this area that could match them on those areas. The security was a huge benefit to me. 5 stars.
Hello Ms. Harper, thank you for sharing your experience -- we are happy to have made it a positive one!
Reviewed June 22, 2018
Thank you very much to the team! Before selecting BitIRA I did a lot of research on my options and spoke with several different companies. I finally narrowed it down to these guys, and they did a really good job. I am very happy with my selection, and that I now have a Bitcoin IRA!
Hello Ms. Siob, thank you very much for the kind review, we're glad that we could earn your business and were able to meet your expectations. We hope to be of more service in the future -- please be in touch!
BitIRA Company Information
- Company Name:
- BitIRA
- Company Type:
- Private
- Year Founded:
- 2017
- Formerly Named:
- First Digital IRA
- Address:
- 3500 W. Olive Ave. Suite 300
- City:
- Burbank
- State/Province:
- CA
- Postal Code:
- 91505
- Country:
- United States
- Fax:
- (800) 299-1596
- Website:
- www.bitira.com
