If you want to include Bitcoin, Ethereum, or other cryptocurrencies in your retirement plans, you may have to look beyond traditional investment options.
Many of the top online stock brokers still don't support cryptocurrencies. And those that do, may only support a few coins or may not offer retirement accounts (Robinhood is a prime example).
That's why many cryptocurrency enthusiasts find it best to turn to companies that specialize in enabling crypto investing inside retirement accounts. Here’s a look at our favorite Bitcoin and crypto IRA providers to help you find tax savings on your digital asset holdings.
Best Bitcoin And Crypto IRA Providers Overview | |
|---|---|
Best For | Company |
Overall | |
Number of Cryptocurrencies | |
Ease of Use | |
Security | |
Checkbook Control | |
Best Overall: iTrustCapital
iTrustCapital should be on your list of crypto IRA options. It has no monthly recurring account fee, and the trading fee is 1%. It's still more expensive than other cryptocurrency IRA companies but it's competitive. There are no account setup or maintenance fees.
IRA accounts are managed online through an account dashboard that includes 24/7 cryptocurrency trading. Funds are held through a partnership with Coinbase. It offers 27 different currencies. The web dashboard and mobile app help manage your account and portfolio.
In addition to security and insurance provided by Coinbase, iTrustCapital employs Fireblocks as an additional security solution. If you want more than just crypto, iTrustCapital also supports physical gold and silver ownership through a partnership with VaultChain and the Royal Canadian Mint.
Overall, the low costs, list of more than two dozen supported cryptocurrencies, and high-quality trading platforms combine to make iTrustCapital a winner.
Read our full iTrustCapital review here.
Best For Number Of Cryptocurrencies: Alto
Alto supports more than 125 digital assets in its cryptocurrency trading portal. That covers many of the most popular cryptocurrencies, including many stablecoins. Like iTrustCapital, Alto IRA works through a partnership with Coinbase.
Fees here are reasonable enough. There is no new account setup fee or recurring monthly or annual fees. You pay a 1.5% fee per transaction. There are no other fees for typical use. In addition to the Crypto IRA, Alto offers a checkbook IRA, similar to Rocket Dollar below, plus an additional list of exclusive investments.
Alto supports traditional, Roth, and SEP IRA accounts. Each currency requires a $10 minimum, which shouldn’t be a problem in a retirement account. Overall, Alto IRA is a top choice for avoiding ongoing fees and getting access to a very long list of cryptocurrencies to choose from.
Read our full Alto Crypto IRA Review here.
Best For Ease Of Use: Bitcoin IRA
I’m always a fan of a company with a name that clearly explains what it does. Bitcoin IRA couldn’t be more clear on what it offers: Bitcoin IRA accounts. However, we didn’t pick it as the easiest to use because of its name.
Bitcoin IRA makes signing up for a cryptocurrency IRA very quick and easy, including offering a feature to transfer funds from an existing IRA held elsewhere. You can trade crypto in your IRA account 24/7. If you’ve used a traditional or Roth IRA in the past connected to stock market investments, the experience here is very similar but focused on crypto.
In addition to Bitcoin and Ethereum, the company supports Litecoin, Bitcoin Cash, Stellar Lumens, Zcash, and physical gold. Cryptocurrencies are held through a partnership with BitGo Trusty Company.
The big downside of Bitcoin IRA is the fees. Bitcoin IRA charges 5.99% of your funds deposited when transferring into a new account. Buying and selling require a hefty 2% trading fee, about four times what you pay to trade with leading active trading platforms. There’s also a monthly 0.08% management fee. If you’re okay with all of those fees, Bitcoin IRA is an excellent choice.
Read our full Bitcoin IRA Review here.
Best For Security: BitIRA
If your top priority is security, consider BitIRA. BitIRA uses multiple layers of protection to keep your funds secure. Multi-factor authentication is required to access your account, And currency is stored in long-term offline cold storage wallets inside a bunker that’s protected by armed guards 24/7 and is designed to withstand a nuclear attack.
The biggest downside of BitIRA is an estimated $195 annual fee and 0.05% monthly storage fee, plus a $50 set up fee. BitIRA isn't the most open and forthcoming with its fee schedule, which may be a red flag for some searching for a Bitcoin IRA. Costs vary per account, so you have to contact them directly to determine what you would pay.
BitIRA doesn’t have the most extensive list of cryptos around, but it’s also not the shortest. Options include Bitcoin, Bitcoin Cash, Chainlink, Ethereum, Ethereum, Classic, Litecoin, Zcash, Stellar Lumens, and Aave.
Ultimately, you may end up paying a bit more at BitIRA. But in exchange, you get the peace of mind that your cryptocurrency should be protected from just about any unforeseen circumstances. And to a portion of investors, that’s money well spent.
Best For Checkbook Control: Rocket Dollar
The Rocket Dollar Self-Directed IRA gives you “checkbook control” over your retirement account and assets. This gives you ultimate control and flexibility over your investments. With Rocket Dollar, you can invest in literally any cryptocurrency in existence in your retirement account.
When opening a Rocket Dollar IRA, the Rocket Dollar team creates a new Limited Liability Company (LLC) for your account. That LLC has a bank account, where you get the checkbook. Anything you buy with that bank account is technically owned by the LLC and part of your IRA.
You can invest in anything that the IRS allows in an IRA or Roth IRA with this account. That includes cryptocurrency, real estate, and many other assets. You could use your Rocket Dollar IRA checkbook to fund a cryptocurrency wallet that you store in your own secure location.
Rocket Dollar offers two account levels. The cheaper version costs $15 per month and requires a one-time $360 setup fee. Once you’re up and running, you can invest in obscure cryptocurrencies for your retirement, though you may want to stick with safer assets for retirement.
Read our full RocketDollar review here.
Pros And Cons Of Bitcoin And Crypto IRAs
Frequently Asked Questions
Let's answer a few of the most common questions that people ask about Bitcoin and crypto IRA providers:
Can I hold cryptocurrency in a retirement account?
Yes, you can hold cryptocurrency in a retirement account. IRS rules allow you to have digital currencies in an individual retirement account, such as Bitcoin or Ethereum.
What kinds of cryptocurrency retirement accounts are there?
Each provider supports different types of retirement accounts. The most common are traditional and Roth IRA accounts. Some support SEP IRA accounts and Solo 401(k) accounts for self-employed individuals.
What are the risks of holding cyptocurrency in a retirement account?
Cryptocurrencies are a risky and volatile asset class. Depending on your age, there’s a very good chance you have more years until retirement than cryptocurrency has existed. Seriously consider the risks before adding crypto to your retirement plans.
Can I rollover my 401k into a crypto IRA?
Yes, many crypto IRA providers support 401k rollovers. Note that you can't rollover a 401k plan into an IRA until you've left the employer that was the sponsor of the plan.
The Bottom Line
Many financial experts would argue that you should keep crypto out of your retirement, but serious crypto fans say the complete opposite. We can’t tell you how to invest for retirement, but consider all of the risks when allocating a portion of your retirement portfolio to crypto.
If you want to own cryptocurrency for retirement, there’s a growing list of high-quality options. As the industry matures, we’re likely to see new entrants, more features, and lower costs. For now, any of these best Bitcoin and crypto IRA providers could be a good fit for your needs.
Eric Rosenberg is a financial writer, speaker, and consultant based in Ventura, California. He holds an undergraduate finance degree from the University of Colorado and an MBA in finance from the University of Denver. After working as a bank manager and then nearly a decade in corporate finance and accounting, Eric left the corporate world for full-time online self-employment. His work has been featured in online publications including Business Insider, Nerdwallet, Investopedia, The Balance, HuffPo, Investor Junkie, and other fine financial blogs and publications. When away from the computer, he enjoys spending time with his wife and three children, traveling the world, and tinkering with technology. Connect with him and learn more at EricRosenberg.com.