The Best Bitcoin IRA Companies of 2023

Bitcoin is on the rise and it's no secret that many investors are looking to jump into the Bitcoin bandwagon. With its incredible potential for growth and no timetable on the SEC's approval of a Bitcoin ETF, a Bitcoin IRA may be one of the best investments you could make in 2023. That's why we're here to break down our top picks for the best Bitcoin IRA companies of 2023, so you can ensure you have exposure to this volatile but rewarding crypto market.

Coinbase

Coinbase is a digital asset platform founded in 2012 that provides access to over 50 million users across more than 100 countries with the ability to buy, sell, store and use cryptocurrencies like Bitcoin, Ethereum, Litecoin, and many others. Coinbase has grown to over $20 billion in assets under management (AUM).

Coinbase offers a variety of products and services including an online wallet for storing cryptocurrency; Coinbase Pro which allows customers to trade on their own terms; Earn which enables users to earn crypto by learning about it; Staking which lets customers earn rewards for holding certain coins; Custody which provides secure storage solutions for institutional clients; Commerce which helps merchants accept payments in crypto; and Prime which is designed specifically for professional traders.

The pros of using Coinbase include its user-friendly interface, low fees (1.49% fee per transaction), high liquidity due to its large customer base, strong security measures, and insurance protection up to $250k per account holder. The cons are limited payment options (only credit/debit cards or bank transfers) and higher fees for retail users compared to other exchanges (up to 3%).

Gemini

Gemini is a digital asset exchange and custodian founded in 2014 by the Winklevoss twins, Cameron and Tyler. Gemini has grown to become one of the largest crypto exchanges in the world with over $10 billion in AUM. The platform offers users access to buy, sell, store, and earn cryptocurrency through its secure online marketplace. They are one of the first exchanges to get a NYC BitLicense.

The platform provides a range of services including trading on their web or mobile app, custody solutions for institutional investors, staking rewards for select cryptocurrencies, and (until last year) an Earn program that allows customers to earn up to 7.4% APY on all USDC deposits.

Gemini is highly regulated with licenses from multiple states across the US, making it one of the most trusted platforms available today. They offer competitive fees starting at 0%, no minimums required for trading or withdrawals, 24/7 customer support, advanced security features, and multi-signature wallets.

However, Gemini has limited selection of coins compared to other exchanges, limited margin trading options, and higher fees than some competitors. Minimum deposit requirements vary depending on the crypto but are generally low ($25 equivalent). Fees start at 0% maker fee and 0.25% taker fee but can increase based on volume traded per month.

Kraken

Kraken is a digital asset management platform founded in 2011 that provides access to over 50 cryptocurrencies and tokens with more than $5 billion in assets AUM. It offers a range of services, including spot trading, margin trading, futures contracts, staking rewards, and OTC desk.

Kraken's products are designed for both retail and institutional investors who want to buy or sell cryptocurrency. The platform also features advanced tools such as automated portfolio rebalancing and tax reporting capabilities. Kraken has low fees compared to other exchanges; it charges 0% maker fees on all trades up to $50 million USD per month.

The main pros of using Kraken include its security measures (it stores 95% of funds offline), competitive fees structure, wide selection of coins available for trade, and user-friendly interface. On the downside, there is no support for fiat currencies like USD or EUR; users must first purchase crypto from another exchange before transferring it into their Kraken account. Additionally, there is a minimum deposit requirement of 10 USDT equivalent which may be too high for some traders.

BitGo

BitGo is a digital asset trust and security company founded in 2013 that provides institutional-grade custody solutions for digital assets. BitGo currently manages over $1 billion in AUM across 75 countries.

BitGo offers a variety of products and services to its clients, including multi-signature wallets, cold storage solutions, enterprise-grade API access, insurance coverage on funds held with them, and 24/7 customer support. Their value proposition lies in their commitment to providing secure custodial services for digital assets while also offering the convenience of an easy-to-use platform.

The pros of using BitGo include their high level of security through multi-signature technology; low minimums; competitive fees; fast transaction speeds; insured deposits up to $100 million USD per account; and comprehensive API access for developers. The cons are limited coin selection compared to other platforms; no margin trading or derivatives available yet; lack of fiat currency options like USD or EUR deposits/withdrawals.

iTrustCapital

iTrustCapital is an online investment platform that enables users to invest in digital assets such as cryptocurrencies, gold, and silver. Founded in 2018, the company has grown to manage over $500 million in AUM. iTrustCapital provides a secure and easy-to-use platform for investors of all levels.

The platform offers a variety of services including self-directed IRA accounts, 401(k) rollovers, taxable accounts with no minimums or fees. Investors can purchase fractional shares of digital assets like Bitcoin and Ethereum using their debit card or bank account. Additionally, they have access to real-time market data on prices and news updates from leading crypto exchanges.

The pros of investing through iTrustCapital include low fees compared to other platforms, however they still charge a 1% crypto transaction fee for buying and selling cryptocurrencies. There is  a minimum deposit requirement of $2,000 for new customers opening retirement accounts.

Bitcoin IRA

Bitcoin IRA is a financial services company that enables individuals to invest in cryptocurrency through their retirement accounts. Founded in 2016, the platform has grown to manage over $300 million in AUM.

The Bitcoin IRA platform allows users to purchase and store cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple and more within an IRS-approved retirement account. The service also provides access to insured cold storage wallets for added security of digital assets. Additionally, investors can take advantage of tax benefits associated with traditional IRAs.

Pros include no minimums or fees on investments; however there are some cons including high transaction costs and limited customer support options. However, customers must pay a one-time setup fee of up to $20k depending on the size of their inital investment.

BitIRA

BitIRA is a digital asset IRA provider founded in 2017 that offers investors the ability to purchase and hold cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, and more within their retirement accounts.

The platform provides an easy-to-use interface for users to open a self-directed IRA account with BitIRA and begin investing in cryptocurrency. The company also offers secure storage solutions for customers’ digital assets through its partnership with Kingdom Trust Company. BitIRA has over $200 million in AUM.

Pros of using BitIRA include access to tax advantages associated with traditional IRAs; no minimums or fees; secure storage options; and 24/7 customer support from experienced professionals. Cons include limited cryptocurrencies, lack of transparency regarding custodian services, and potential security risks due to the volatile nature of crypto investments.

Equity Trust

Equity Trust is an asset management platform founded in 2006 with over $150 million in AUM. The company provides a range of services to its clients, including portfolio construction and monitoring, tax-advantaged investing strategies, and retirement planning.

Equity Trust offers a variety of products to meet the needs of individual investors. These include mutual funds, exchange-traded funds (ETFs), stocks, bonds, options contracts, and other investments. They also provide access to financial advisors who can help clients create personalized portfolios tailored to their goals and risk tolerance.

The pros of Equity Trust include low fees compared to other platforms; no minimum investment requirements; access to experienced financial advisors; and comprehensive tax planning tools. On the downside, there are limited investment choices available on the platform compared to some competitors. They also charge higher fees for certain services such as account transfers or withdrawals.

CoinIRA

CoinIRA is a digital asset IRA platform that allows users to safely invest in cryptocurrencies like Bitcoin, Ethereum, and Litecoin with their retirement funds. Founded in 2017, the company has grown rapidly and now manages over $100 million in AUM.

CoinIRA provides an easy-to-use online dashboard for customers to manage their investments. The platform offers a variety of services such as tax-advantaged investing options, secure storage solutions, and 24/7 customer support. CoinIRA also provides educational resources on cryptocurrency investing so users can make informed decisions.

The main advantages of using CoinIRA are its low fees and minimums ($20K) compared to other platforms; however there are some drawbacks such as limited investment options (only three coins available) and lack of access to certain features without paying additional fees.

Alto IRA

Alto IRA is an online investment platform that provides investors with access to self-directed retirement accounts, such as IRAs and Roth IRAs. Founded in 2018, Alto has raised over $50 million in AUM.

The company offers a variety of services for its customers, including the ability to invest in alternative asset classes like real estate and cryptocurrency. Customers can also open multiple accounts on the platform and manage their investments through one dashboard. Additionally, Alto provides educational resources to help users make informed decisions about their investments.

Pros of using Alto include low minimums ($500) and no account fees or commissions. However, there are some cons associated with the platform; for example, it does not offer tax advice or financial planning services. Furthermore, customers must pay custodial fees when they open an account.