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Overall Satisfaction Rating
4.69/5
  • 5 stars
    11
  • 4 stars
    5
  • 3 stars
    0
  • 2 stars
    0
  • 1 stars
    0
Based on 16 reviews that contain star ratings
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Bitvest IRA

ConsumerAffairs Accredited Brand

Bitvest IRA is a company dedicated to mining Bitcoins for use in an IRA. You buy Bitcoins at a discounted rate of up to 20% for deferred delivery or immediate purchase. You can choose among several options for Bitcoin purchases.

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16 Bitvest IRA Consumer Reviews and Complaints

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 22, 2018

I wanted to have a portion of my retirement money in something I perceive could grow. Bitvest offered the purchase ahead of time with a 20% reduced rate. At that time, another company called but they were much more higher with the fees. The way they set it up, I don't really have the bitcoins yet. They're put away from me and I receive them when they're mined. It's a little bit of trust factor going on with them. You can actually receive a letter. Their representatives explained things well. There was Steve who was helpful and then Troy, and then there's another guy who answered the phone. They are available to help out so I don't have any complaints. They're knowledgeable and they are honest with their information. They expect you to know that it could go up and down like the stock market.

2 people found this review helpful
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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: June 20, 2018

I’ve heard about bitcoins three years prior and had studied it over that time period. I then slowly invested a small percentage and things did pretty well. So, I did a little more research and decided that the technology was very good and that it would be something that’s gonna last. There were only a couple of companies to choose from that did IRAs. And Steven, somebody very high up in Bitvest IRA, spent a lot of time talking to me and explained how the industry works. He also gave me a lot of advice on investment. He was very good, more than anybody else I’ve known or talked to.

I purchased outright and paid an upfront charge of 10% or so. I also did bitcoin forward, where you I could buy at cheaper amount but all I have is a contract. I wouldn't start receiving the bitcoin until, six months later, and then I'd receive for the next 18 months. Though there was one problem early on that I was unsure if I wanted to sell through Bitvest or through Kingdom Trust. They were not aligned as to how to properly sell the assets. But they’ve started delivery now, so Bitvest IRA's doing all right. But it is still a risky possibility so people should be cautious.

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2 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 17, 2018

I bought bitcoins from Bitvest a year ago, and I was skeptical with waiting the 180 days. At that time, bitcoin was rather low and I had a feeling that once it gains more exposure, it would raise over time. I felt that it was a good time to invest. If I could put my money into Bitvest and not be allowed to touch it for 180 days, I was sure that the price would rise more than it would have risen if I have just kept it in my own bank. I put my $3,000, which was what was bitcoin valued at that time, into beta phase. After the 180 days passed, I started receiving my first bitcoin payment.

I got in contact with Steven who he seemed to be a pretty nice and knowledgeable guy. One day he said he was at a bitcoin conference, and I was asking him about one of my transactions and why it hasn’t got delivered yet. He told me because it wasn’t the third Thursday of the month. Their payments were always on time and if I had any problem, I could talk to Steven directly. Overall, Bitvest IRA is a trusted company.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 15, 2018

Bitvest IRA has been very honest and helpful to me. They have answered all my questions and guided me through the process of purchasing bitcoin for my IRA accounts with professional expertise. I highly recommend this company. I have had only positive experiences with Bitvest IRA.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 15, 2018

Bitcoin is something that’s coming up in value over time. I needed something in my IRA and there are fewer choices out there for the IRAs right now than if it’s just a regular investment. Bitvest IRA offered me a discount for which they pay me back over time. I spoke to one of their people and he knows a lot about it. He was a decent person to speak with and was relatable. I also communicated thru email with another representative. They were knowledgeable and they've helped for me now to already know quite a lot about bitcoin and investments.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 14, 2018

I was initially with another company for bitcoin IRA, but the processing took a long time. Bitvest had a promo of 20% off from the beginning price, so I called and asked. It was huge amount of money. And I decided to invest in it in order to stay for more and I think I did the right move. The reps have helped me out step by step. I didn’t even know how to open a lot of things and they let me know what to do. They conversed with me and made sure to stay strong with them.

Any information that I asked they answered as best as they could. They only dealt with the bitcoins at the beginning and I had a question for alt coins. They couldn't give me much information in the beginning, but later on, Steve gave me some information with regards to it and tried to hook me up with someone who deals with alt coins as well. So that was very nice. With Bitvest, I have to wait for six months after purchase to get 1/18th of its value when I bought it. And then it takes 18 months to get the full refund.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 13, 2018

My friend used Bitvest and he told me about it. I sent an email to Bitvest and they sent me a login and that's where I pay. My friend used an IRA and since I don't have that, I just pay cash everyday online. The rep that I talked to said that I had to for 18 months to buy or sell, but he called me last time and told me that it was available in six months. It was a good experience overall.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 12, 2018

I had been watching bitcoins for a couple of years and I finally decided to invest in them in August of last year before it went crazy high. I liked that fact that Bitvest IRA had the 20% discount upfront and they were the only one that was doing that at the time. I also researched every company out there and Bitvest was the best, so, I went with them. I was there for the long haul and the two year waiting was fine with me. Steve was my main contact there and he was fantastic. He would always answer his phone or got back to me almost immediately. He also answered all my questions without hesitation and had all the information right there. The first time I purchased bitcoins, I went to Kingdom Trust and the process was very simple and straightforward. But the second time, it was a nightmare with IRA financial. They had at least six times as much paperwork and the process dragged on for months.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 11, 2018

At the end of September, I called Bitvest IRA and talked to a British fellow. I decided to take advantage of the low confidence in the fiat currency and rolled over my 41K into a bitcoin IRA. The process was smooth as it could be. The rep was very knowledgeable and helped answered all my questions. He was very flexible with my schedule and what I could do. My skepticism is a lot less than it was. It took a lot of faith going with it but I did some checking and I was comfortable enough with it to proceed.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: June 10, 2018

I like that Bitvest had a good set up. The guy that I worked with was helpful, really knowledgeable and always made sure to answer all of my questions. Buying from Bitvest was really easy and smooth. And it was also really easy if we got to transfer from a bank account. It’s not like I’m putting all my hope in it. But it’s good to have multiple investments and to diversify. Overall, it was just a good experience. I'd definitely recommend them.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: June 9, 2018

My daughter told me about bitcoins and said I might be able to make money at it. I went with Bitvest IRA and their reps have been fine. But personally, the whole technology is very complicated so I'm not sure if they could have done anything differently. It's hard to get to know the concept of the cryptocurrency in a way it's traded and the way it's saved in the wallet. So for a layman, it is challenging to bring yourself up to speed.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: June 8, 2018

We know a lot about bitcoin. We saw Bitvest IRA in the internet and decided to purchase from them. Their representative did good and we have no complaints.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: June 7, 2018

I invested X number of dollars with Bitvest. Then they gave me a 20% discount on the five coins that I bought. But then there’s a waiting period. And I didn’t get any money back. I wasn’t entitled to any until January. And then I only get one-quarter of a coin through each month thereafter. That extends out almost over two years before I'm finally clear and have what I bought which was five bitcoins. So far, I’ve only gotten one and a half coins.

If I had to do it over again, I would not be enticed by the 20% discount because it handicapped me. There was an opportunity to sell like when it was $20,000. And I couldn’t do anything because I didn’t have the coins available to me. I’ve talked to them. They said, “You signed it in the contract. It was in black and white.” And it was. But I didn’t realize it was gonna be that much of a problem. It cost me a lot of money. If I could have sold at $20,000, I would have had $100,000 with $90,000 profit. But I was unable to do anything. I couldn’t even sell a partial of a coin. They weren’t dishonest with me but I failed to evaluate what it was gonna really mean and the frustrations I was gonna go through. But Steven has been very good. I’ve been working with him and he keeps me up-to-date and he answers my questions. The company was good as well. I just don’t think I would take that plan again ever.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: June 2, 2018

So far, Bitvest has been good. I researched on the internet. There was an ad that Bitvest had on 20% discount and that caught my eye. I called them and I found that they're not only an investment company but they also mine bitcoin. They would use the proceeds from the purchase to basically invest in infrastructure to be able to mine more crypto and bitcoin, specifically. I thought that was a good story. And then, I went to purchase the contract. Everything else seemed to be pretty legitimate as opposed to just some place that would be only a fly-by-night and not totally up and up as far as an organization to work with.

I worked with the representative at Bitvest that was assigned to my investment. His name is Troy and he was very sincere and always answered whatever question I had. At one point I had my doubts because bitcoin was breaking down in value. I called and consulted him and we both decided that it was best to cut the investment in half at that time and then invest more as bitcoin starts gaining more value. He did not put me under any pressure or any typical selling tactics. But it would be nice if Bitvest could be more forthcoming with statements and publishing reports as far as the investment value and the performance.

With the dollar breaking down and losing value and with all the issues with other currencies, it doesn’t seem like a wise investment to invest in any other currency but Bitcoin. The more I read about it the more I realize that this could really be a breakthrough in currency, in finance going forward because all the issues with money laundering and knowing their client type of activities don’t need to take place. It's a decentralized ledger and money can't be lost or stolen unless I'm on a bad exchange. But all the regulation that’s going to effect will make sure that it's a safer investment than any currency and probably an asset because the chance of it being stolen is almost nil unless somebody publishes their Bitcoin crypto code. So, because of that, I thought Bitvest is a good place to park the money and hopefully, see the value go up.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: May 31, 2018

I really liked the Bitvest representative that I talked to. He was very nice and very helpful. I also liked that they give a discounted rate when you first invest with them. It take time to do the transfer, but it was straightforward. I had a lot of trouble with the other company and Bitvest was really helpful in making the transfer go smoothly. The transaction is not completed 100% yet but up until this point, every single thing we’ve had to deal with Bitvest has been awesome. It's a great relationship and they kept their word.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: May 30, 2018

Bitcoin's gonna go up a whole lot in the future and so I invested in it. It was up to $20,000 last December. With Bitvest, I get a 20% discount on the price of bitcoin when I buy it, which is a good amount. During the purchase process, they emailed me some forms and then I filled them out. I sent the forms back to them. I wired some money from my bank account to them and they sent me the contract, showing what I got. Six months later, I started to collect a coin a month. I’ve been dealing with Bitvest for almost a year now. They bring what and when they say they would and has been helpful with questions. I have also recommended them to several people I know.

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1966 expert review by David Chandler, Ph.D.

Bitvest IRA is an investment company that deals exclusively in Bitcoin IRAs and 401Ks. Bitvest IRA mines Bitcoins and uses a method of deferred delivery to give you your bitcoins over an extended period of time to keep prices low. Bitvest IRA is known for discount Bitcoin prices and no-pressure sales.

  • Deferred delivery: When you buy from Bitvest IRA, you receive your Bitcoin a fraction at a time to keep prices low. Essentially, you’re purchasing a production, and you start receiving your Bitcoins 180 days after your purchase.

  • Discounts on purchases: Bitvest IRA can get your Bitcoin purchases at discount prices. Some clients save up to 20 percent on their Bitcoin acquisitions. The longer your deferred delivery, the bigger your discount.

  • Video tutorials: Bitvest IRA has a page of curated videos about Bitcoin investment. These videos provide a detailed introduction to how Bitcoin works and how it can be a lucrative investment.

  • News: Bitvest IRA also provides the latest news regarding Bitcoin market performance. Bitvest keeps an archive of each news story it hosts.

  • Partnership with Kingdom Trust: Bitvest IRA has partnered with Kingdom Trust, a robust chartered trust company. Kingdom Trust handles Bitvest’s client support and expert advice in growing your IRA.

  • Best for: investors looking to save money on their Bitcoin purchases.

Profile picture of David Chandler, Ph.D.
David Chandler, Ph.D. ConsumerAffairs Research Team

David Chandler, Ph.D., writes for the ConsumerAffairs Research team to help consumers make smart purchasing decisions. David is passionate about creating content that is useful and informative, and he devotes several hours to researching companies, industries and articles for each piece of content he writes to help consumers find what they need.

Bitvest IRA Company Information

Company Name:
1966
Company Type:
Private
Formerly Named:
Bitvestmint LLC
Address:
7777 Glades Road
City:
Boca Raton
State/Province:
FL
Postal Code:
33434
Country:
United States
Phone:
844-248-8378
Website:
www.bitvestira.com
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