Best 5 Bitcoin & Crypto IRAs for June 2024: Which Wins? (2024)

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AQuick Summary

Swan Bitcoin (4.4/5 Trustpilot Rating)

• Bitcoin Focus:Exclusively supports Bitcoin, reducing complexity and focusing onwhat many consider the most reliable cryptocurrency.

• Easy Setup:Streamlined onboarding process that can becompleted injust one businessday.

• NoMinimum Balance:Allows investors tostart with any amount, making itaccessible toawide range ofinvestors.

• Tax Advantages:Bitcoin IRAs held inregulated trust accounts offer tax advantages, potentially increasing the long-termbenefits.

• High Ratings:Strong ratings across Trustpilot and mobile app platforms indicate high customer satisfaction.

• Limited Investment Options:Only offers Bitcoin, which might not appeal tothose looking todiversify with other cryptocurrencies.

• Geographical Availability:While available inall 50 U.S. states, international customers must contact Swan directly, which may complicate access forsome.

• Zero Fees Next $10k: Enjoy zero fees onyour first $10,000 ofBitcoin buys (oryour next $10,000 for existing clients). Notime limit, applies tosingle buys, recurring buys, and IRA buys.

• Trading Fees:0.99% for buy and sell transactions, charged directly from IRA funds.

• Other Fees:Nohidden fees; all management fees are transparently calculated anddisclosed.

• Provider:BitGo Trust Company, awell-regarded U.S.-chartered trust that enhances security andcompliance.

• Swan Vault:Newly launched service offering self-custody solutions with features like secure key backup and inheritance planning, tailored for high-net-worth individuals.

• Swan Mining April Report

  • The Current State ofBitcoin Mining. Free Download

Unchained Capital (3.2/5 Trustpilot Rating)

• Secure Investments:Offers aBitcoin-only IRA with investments secured through amulti-signature cold storagevault.

• Expert Custody:Employs acollaborative custody model, enhancing security bydistributing control over Bitcoinholdings.

• Specialized Service:Focuses exclusively onBitcoin, avoiding complications from other cryptocurrencies.

• Educational Resources:Provides educational materials onBitcoin and its technological foundations.

• Limited Options:Only supports Bitcoin, which isnot suitable for those looking toinvest inother cryptocurrencies.

• Higher Fees:Charges a0.5% fee plus a$995 setup fee, which might behigher than some competitors. Pricing and Fees

• Setup Time:Account setup may take uptofive business days, which isslower than otherservices.

• Rating:3.2/5 from 2 reviewsTrustpilot

• Feedback:Customers appreciate the security features but may find the service limited toBitcoin restrictive.

• Provides ahighly secure,Bitcoin-only IRA, using advanced security measures like collaborative custody and multi-signature cold storage, catering toclients who prioritize Bitcoin security intheir retirementplanning.

• Recently raised $60 million toexpand financial self-custody servicesUnchained Capital Blog

Alto Crypto IRA (4.4/5 Trustpilot Rating)

• Low Entry Barrier:Alow account minimum ofjust $10, making itaccessible toawide range ofinvestors.

• Wide Range ofOptions:Offers over 200 cryptocurrencies, catering todiverse investment preferences.

• High User Ratings:Excellent ratings onTrustpilot and the Apple App Store reflect strong customer satisfaction.

• FDIC Insurance:The FDIC insures cash held inaccounts upto$250,000, providing anextra layer ofsecurity for fiat currencydeposits.

• Mixed Reviews onGoogle Play:Lower ratings onthe Google Play Store indicate user dissatisfaction, particularly with the app’s functionality onAndroiddevices.

• Legal Uncertainties:The SEC has recently suedmajorexchanges like Binance and Coinbase over cryptocurrencies included inAlto’s offerings, which might affect the stability oravailability oftheseassets.

• Trading Fee:1% onalltrades.

• Account Fees:Options between $10 monthly or$100 annually, with two months free onthe annualplan.

• Additional Fees:$50 account closure fee, $25 for outbound wire transfers.Alto’s Fee Structure

• Rating:4.4/5 from over 1,300 reviewsTrustpilot

• Positive Feedback:Users appreciate the low investment threshold, variety ofcryptocurrency options, and the overall userexperience.

• Negative Feedback:Some concerns about app functionality onAndroid devices are highlighted bylower ratings onGooglePlay.

• Alto leverages partnerships with leading exchanges like Coinbase for asset security, combining abroad array ofcryptocurrency choices with robust security measures tooffer acomprehensive IRA product that includes traditional, Roth, and SEP IRA options.

• Faced with regulatory challenges asthe SEC scrutinizes the crypto market, including some assets offered byAlto, which could have implications for investors.SEC Lawsuit Information

BitcoinIRA (4.3/5 Trustpilot Rating)

• Wide Range ofOptions:Offers over 60 cryptocurrencies, providing diverse investmentchoices.

• Versatile Account Types:Itsupports various IRA types, including traditional, Roth, SEP, and even aSaver IRA, catering todifferent retirement planningneeds.

• High Customer Satisfaction:Solid ratings onTrustpilot and mobile app stores indicategooduser satisfactionoverall.

• High Fees:Chargesa2% trading fee, a5.99% initial setup fee, and a0.08% monthly maintenance fee, higher than many competitors.

• Legal Concerns:Faces potential risks from ongoing SEC scrutiny regarding the cryptocurrencies itoffers, similar tootherplatforms.

• Initial Setup Fee:5.99%.

• Trading Fee:2% ontransactions.

• Monthly Fee:0.08% with a$100 minimum.More onFees

• Rating:4.3/5 from 27 reviewsTrustpilot

• Feedback:There are generally positive reviews praising the variety ofcrypto options and user-friendly platform, though some mention high fees asadownside.

• Besides offering traditional crypto IRAs, BitcoinIRA has introduced aSaver IRA for those seeking regular, smaller contributions totheir retirement savings with cryptocurrency.

• The platform isunder the same regulatory scrutiny affecting much ofthe crypto industry, with recent SEC actions highlighting the risks associated with including certain altcoins intheir offerings.SEC Lawsuit Information

Coin IRA (3.7/5 Trustpilot Rating)

• Diverse Investment Options:Offers cryptocurrencies and precious metals, allowing for diversified investmentportfolios.

• Experienced Parent Company:Backed byGoldco, areputable player inthe precious metals IRA market, adding alevel oftrust andexperience.

• Comprehensive Rollover Options:Supportsrollovers from various retirement accounts, including 401(k), 457, 403(b), TSP, andpensions.

• High Account Minimums:Requires a$20,000minimum for self-directed IRA accounts, which may beprohibitive for someinvestors.

• Limited Reviews:Few reviews onTrustpilot make itdifficulttogauge widespread customer satisfaction.

• Setup and Maintenance Fees:$50 one-time setup fee, $80 annual maintenance fee, and $100 storagefee.

• Trading Fees:1.25% onbuy trades, 1% onsell orders, and 2.25% onassisted transactions.More onFees

• Rating:3.7/5 from just 1 reviewTrustpilot

• Feedback:Limited feedback makes itdifficult toassess customer experiencesfully.

• Coin IRA allows investors toinclude digital and tangible assets (cryptocurrencies and precious metals) intheir retirement accounts, providing abalanced approach toasset diversification.

• The platform faces regulatory challenges similar tothose ofother crypto services, with recent SEC actions potentially affecting the cryptocurrencies offered.SEC Lawsuit Information

More In-depth Details

1. Swan Bitcoin

Account Minimum: Nominimum balance requirements
Investment Options: Bitcoin-only
Fees: 0.99% funded from IRA funds
Custody Provider: BitGo Trust Company
Trustpilot Rating: 4.4/5 from 1,037 reviewsApple App Store: 4.8/5 from +1.2k reviews
Google Play Store: 4.0/5 from 536 reviews, +50,000 downloads

Bitcoin IRA options

Custody provider

Pricing and fees

Recent developments

• Best-in-class user experience for secure self-custody.

• Secure key backup tominimize the risk ofloss.

• Concierge onboardingavailable.

• Inheritance planning for Swan Privateclients.

• Built onBitcoin Core and Specter, afully open-sourcestack.

2. Unchained Capital

• Unchained Capital doesn’t offer Bitcoin Cash orother hard forkproducts.

• Utilizes amulti-signature cold storage vaultoption.

• Employs a"collaborative custody" approach.

  • This leverages afundamental feature ofBitcoin technology that enables multiple parties tojointly oversee private keys and distribute control over Bitcoin holdings among themselves, Unchained Capital, orother financial institutions.

Pricing and fees

Custody Provider

3. Alto Crypto IRA

Account Minimum: $10
Investment Options: 200+ cryptocurrencies
Fees: 1% onall sized trade (Noaccount monthly custody fees)
Custody Provider: Alto TrustCo.
Trustpilot Rating: 4.4/5 from 1,231 reviews
Apple App Store: 4.9/5 from 12 reviews
Google Play Store: 2.0/5 from 17 reviews, +1,000 downloads

Pricing and fees

• 1% tradefee.

• $50 account closurefee.

• $25 outbound wire transfer fee

• Investors choose between a$10/month oranannual $100 account fee (including two free months).

4. BitcoinIRA

Account Mminimum: $3,000
Investment Options: +60 cryptocurrencies
Fees: 2% plus 5.99% setup fee + 0.08% monthly fee with a$100 minimum
Custody Provider: BitGo Trust
Trustpilot Rating: 4.2/5 from 29 reviews
Apple App Store: 4.4/5 from 968 reviews
Google Play Store: 4.4/5 from 1.95k reviews, +100,000 downloads

Pricing and fees

5. Coin IRA

Pricing and fees

Why invest inaBitcoin orcryptoIRA?

• Diversification
  Achieve awell-rounded investment portfolio byallocating funds across diverse assets such asstocks, bonds, and mutual funds.

• Unrealized loss control
  Minimize the risk ofsubstantial losses ensuring that potential gains inone area offset potential losses inanother.

• Regulatory protection
  IRAs are subject togovernment regulations, providing investors with alayer ofsecurity. These regulations maintain the integrity and fairness ofthe retirement savingssystem.

• Professional expertise
  Entrust your IRA investments toexperienced financial professionals tomake informed investment decisions and effectively managerisks.

• Long-term investment horizon
  IRAs facilitate long-term savings, typically requiring aminimum holding period ofseveralyears. This helps investors minimize the impact ofshort-term market volatility ontheir retirementsavings.

• Tax benefits
  Bitcoin and crypto IRAs offer distinct tax benefits that reduce the overall risk offinancialloss. Traditional IRAs provide tax-deferred growth, allowing investments togrow without immediate tax obligations. Roth IRAs permit tax-free withdrawals during retirement, offering valuable protection against future tax uncertainties.

Why invest inaBitcoin-only IRA > cryptoIRA?

ABitcoin IRA isaBitcoin-only IRA investment product. Bitcoin has been the best performing asset ofthe last 14 years.

• Robust security
  Given the vulnerability ofdigital assets tohacking and theft, you should choose aBitcoin orcrypto IRA provider that prioritizes strict securitymeasures.

• Transparent and reasonable fees
  Carefully review and compare the crypto IRA fees charged bydifferent custodians andproviders. Watch out for hidden orexcessive fees that can eat away your returns overtime.

• Custodian reputation
  Research the custodian’s reputation when entrusting your crypto IRA assets toacustodian. Ensure they have atrustworthy track record and are well-regarded within theindustry.

• Tax implications
  Familiarize yourself with the tax implications before making investmentdecisions. For example, gains from Bitcoin investments held within anIRA may besubject totax when you withdraw thefunds.

• Regulations
  Stay informed ofnew regulations orlegal developments affecting your crypto IRA investment.

How toinvest inacrypto IRA

• Choose areputable custodian that offers crypto IRA services.

• Open anaccount bycompleting the necessary paperwork and meeting all the specific requirements.

• Depositing funds infiat currency ortransferring existing cryptocurrencies from anexternal wallet.

• Choose the investments you want from the options available from yourcustodian.

• Actively monitor and manage your crypto IRA tooptimize your returns overtime.

What are the fees for crypto IRA trading?

• Account setupfees.

• Transaction fees for buying, selling, ortransferring within the crypto IRA account.

• Annual maintenance fees for ongoing account administration.

Isacrypto IRA tax-free?

Isacrypto IRA safe?

What about aSEP IRA instead ofaTraditional orRoth?

• Employee eligibility
  Employees must meet certain criteria tobeeligible for participation. Typically, employees must beatleast 21 years old, have worked for the employer inatleast three ofthe last five years, and have received atleast $600 incompensation for theyear.

• Employer contribution limits
  Asthe employer, you can contribute upto25% ofeach eligible employee’s compensation, uptoamaximum annuallimit. The maximum limit changes annually based onIRS guidelines. The maximum employer contribution limit was $66,000 for the tax year 2024.

• Tax benefits
  Contributions made bythe employer toaSEP IRA are tax-deductible asabusinessexpense. The contributions grow tax-deferred until withdrawn inretirement; atthis point, they are subject toordinary income taxrates. Early withdrawals before age 59½ may also besubject toapenalty.

• Distribution rules
  Similar totraditional IRAs, distributions from aSEP IRA are required tobegin byApril 1 ofthe year following the year the account holder reaches age 72 (age 70½ ifyou reached 70½ before January 1, 2020). These distributions are called Required Minimum Distributions (RMDs) and are subject toincometax.

• Uniform contribution percentage
  Ifyou choose tocontribute for yourself, the same percentage ofcompensation you contribute for eligible employees must becontributed for yourself asthe businessowner.