Best Cryptocurrency IRA Reviews For 2020
What is a Cryptocurrency IRA?
If you want to invest in Cryptocurrencies like Bitcoin by using your retirement savings, then it is known as Cryptocurrency IRA. This is a self-directed IRA, but unlike precious metals, stocks, bonds, and other assets, you can invest in various cryptocurrencies.
If you want to invest in Cryptocurrency IRA or convert your existing IRA to cryptocurrency IRA, then a Cryptocurrency IRA Company will be required. It is a new type of investment option, and that's why a limited amount of companies for a selection is available.
Whether you want to invest in Bitcoin Ethereum, Litecoin, Ripple, or any other cryptocurrency, the chief factor is to select a reliable cryptocurrency IRA Company. The company must offer the best options for you and as per your budget and have the potential to solve all your queries related to cryptocurrency IRA.
It's free to open an account and registration takes less than a minute. There's no obligation to trade.
What are the benefits of investing in Cryptocurrency IRA?
When you are open your Cryptocurrency IRA, you have the chance to get the numerous benefits on your saving which is not possible at traditional retirement account. Some benefits are:
- It's Tax Free: Cryptocurrency within IRA doesn't a subject of taxation. So, when you make a withdrawal from your cryptocurrency IRA or make gains within your IRA, it will be tax-free. Sometimes the price of your cryptocurrency becomes double within a few months, and it is like a Casino.
- Diversification: Generally, the power of traditional IRAs is limited to stocks and bonds, and their value goes down when the stock market is crashed. On the other hand, cryptocurrency IRAs allows you to protect your retirement saving by adding more property; not only cryptocurrency but you can also add precious metals and real estate.
- High Investment Potential: Due to adoption of cryptocurrency by big names and high earners investors, cryptocurrencies such as Bitcoin are high in demand. Like gold, cryptocurrency have a limited stock which mean, limited supply increase its price. Those who are early investing in cryptocurrency can get benefits in future.
- Convenience: Electronic payments are the future; it is fast, secure, and more convenient. Cryptocurrency perfectly adaptable with all these electronic payments and transfer, and unlike cash and card payments, it offers various benefits.
- No Bank Restrictions: Cash into your traditional IRA and your savings are totally under the central and private banks. On the other side, cryptocurrencies are decentralized assets and no bank, or other authority can change its value, can't seize them or compromise with your savings.
Best cryptocurrency to invest in 2020
Bitcoin: Bitcoin widely famous and the largest cryptocurrency currently used. In 2008, a programmer named Satoshi Nakamoto, introduce Bitcoin's original code and concepts. In 2009, he put the software out for the digital world and individuals to work with the system. Bitcoin is managed by decentralized servers and it is free from regulations, or company rules to make any changes. Bitcoin is currently a highly famous and valued cryptocurrency.
Litecoin: Litecoin is much similar to Bitcoin regarding transfer and coding, but it is faster and cheaper. Like Bitcoin, Litecoin has set a limit on Litecoins, at 84 million, which is higher than Bitcoin. The difference of code and process of Litecoin, make it four times faster than Bitcoin and lower in transaction fees.
Ethereum: Ethereum is an open-source platform that uses blockchain technology to run its decentralized application (dapps). These applications enable the users to make agreements, conduct transactions to buy, or sell directly with each other, and trade goods and services without the involvement of a middle man. Ethereum runs by a network of computers located globally that works together to form a supercomputer. Experts claim that Ethereum has the potential to outpace the Bitcoin and set itself as a new standard.
Ripple: Ripple is known as a corporate cryptocurrency. The main focus of Ripple is to offer a more secure and fast digital currency at lower fees to the financial institutions like banks. Unlike Bitcoin, Ripple has set a maximum limit to its currency is 100 billion tokens. Ripple holds its 60% tokens, and there is no mining system like other cryptocurrencies. Recently there is a sharp spike in the price of Ripple.
|Cryptocurrency||Source||Number of Coins||Released Year|
|Bitcoin||Open Source||21 million||2009|
|Litecoin||Open Source||84 million||2011|
|Ethereum||Sponsored & Open Source||Unlimited||2015|
|Ripple||Corporate Based||100 billion||2012|
Top 10 reasons to consider Cryptocurrencies in your IRA
There are lots of cryptocurrencies are available, but Bitcoin and Ethereum, both are two digital currencies that achieved the highest price in 2020. Below, we will look at some solid reasons to invest your retirement savings in cryptocurrencies.
- Cryptocurrencies are ten years old: According to the experts, cryptocurrencies are a new and young type of investments and it has a higher potential to grow in the market.
- Cryptocurrencies has higher profit potential: Such digital currencies have more potential to earn a higher profit margin. The prediction of fluctuations is more predictable unlike stock and forex.
- Cryptocurrencies are impossible to Counterfeit: It is impossible to copy cryptocurrencies. For instance, no one can replica Bitcoin because it is generated in the block by using crypto-mining.
- Cryptocurrencies are made for long term investment: Investors, who are looking to diversify their retirement savings then, they can view cryptocurrencies as a long term investment option. Most of the cryptocurrencies are remain high from past few years till now. This means they are rising up and offer a great investment opportunity for investors.
- Cryptocurrencies are unregulated: Bitcoin and Ethereum both are unregulated digital currencies and are not issued by any central bank. This is like gold, silver, and other precious metals.
- No holding and transaction fees: Cryptocurrencies are decentralized currencies and there are no holding and transaction fees like banks and other financial institutions.
- Cryptocurrencies are safe heaven like gold: When there is a crisis-hit such as economic, financial, and political, then assets like gold, silver, and other precious metals, and now cryptocurrencies have to get less impact while cash, stock, bonds, etc. are negatively impacted. It is possible to print the paper money again, but it impossible to reproduce gold, and cryptocurrencies like Bitcoin.
- Limited supply, high in demand: It shows that prices can increase in the future. There is a limited quantity of 21 million Bitcoins are available and can't be produced again. It makes the cryptocurrencies rarer like gold and other precious metals. Cryptocurrency in IRA always is a great investment for the future.
- Cryptocurrency for your retirement portfolio: Commonly, your retirement portfolio will be loaded with stocks or bonds. But successful investors recommend that you should never put all your eggs with the same basket. Cryptocurrency gives you a viable asset option to diversify some portion of your retirement savings.
- Protection against declining value of dollar: Cryptocurrencies like Bitcoin and Ethereum are available in limited stock and their prices are not deficit easily like the dollar. Both precious metals such as gold and cryptocurrencies provide the best guard against the weakening value of the dollar and other currencies.
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What to look in cryptocurrency IRA companies?
When you are choosing a cryptocurrency IRA company for the investment, consider the below points:
- Ratings: It is good to go with a cryptocurrency IRA Company that has lots of positive customer reviews. Check out the authorized websites such as Better Business Bureau (BBB), Business Consumer Alliance (BCA), and Trustlink. Also check out the feedbacks at Yelp, Complaint Board, and Yellow Pages (YP). These are websites where customers honestly speaking about companies.
- Safety: The major risks with Cryptocurrency investment are Hacking. Discuss with your cryptocurrency IRA Company about the measure they use to secure your assets against such threats. Do they use the Cold Storage facility? Do they use multi-sign technology? Ask them before choosing them.
- Efficiency: Many clients are waited for months to set up their IRA accounts and ready for the purchases. The cryptocurrency market is moving very fast, and such types of delay may cost you hundreds of dollars more to buy BTC or Ethereum tokens. Try to choose a company that quickly processes the account setup request and also has good customer support.
Best Cryptocurrency IRA Company- All in one solution!
After seeing all of the above criteria, we found Regal Wallet (introduced by Regal Assets) on the top. Regal Wallet not only has highest positive customer ratings, but it also handles entire process very efficiently. This company also builds high reputation among Gold IRA Companies.Regal Wallet (From Regal Assets)
Regal Assets mainly deal with precious metals IRAs, but due to the highest popularity of Cryptocurrency, they introduced themselves in this digital currency world under the name of Regal Wallet. This company already has a good reputation in the area of Gold and Silver IRAs, so they didn't face any difficulty to reach the top position in the cryptocurrency industry.Why Choose Regal Assets for your Crypto IRA Investment?
- Supports All Major Cryptos
- Express Account Opening Option
- Highest Industry Ratings
- Expert & Crypto Savvy Account Managers
- Ability to Diversify with Physical Bullion
- Fully Insured Investment by World Renowned Insurance Company
The company has the highest A+ Better Business Bureau Rating (BBB), AAA rating from Business Consumer Alliance (BCA), and 1000+ five star reviews from TrustLink. Security is a major part of Cryptocurrency investments and Regal Wallet uses the topmost and modern security to protect their client's assets. They offer their services at lower fees and with insurance.
Interested to invest with Regal Wallet? Follow the below steps:
Frequently Asked Questions (FAQ)
Can I use my IRA to buy cryptocurrencies?
Yes, you just need to rollover the funds of your existing IRA to Cryptocurrency IRA, or Bitcoin IRA. Some eligible retirement accounts that can be invested in Cryptocurrencies are:
- Roth IRA
- Traditional IRA
- SEP IRA
- SIMPLE IRA
- Pension plans
- Various annuity plans
- TSP (Thrift Savings Plans)
What is a Bitcoin IRA Rollover?
If you want to move your exiting retirement account or IRA into cryptocurrency such as Bitcoin, then a Bitcoin IRA Rollover is needed.
Is investment in cryptocurrency is smart strategy?
The demand for cryptocurrencies like Bitcoin is increase day by day. Due to limited supply is available; experts predict that the value of cryptocurrencies will become more stable as compared to paper currencies. So, it's a smart long term investment.
What cryptocurrencies can I store in my IRA?
Here is the list of cryptocurrencies that you can store into your IRA:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Dash (DASH)
- Stellar Lumens (XLM)
- Monero (XMR)
- Ethereum Classic (ETC)
- Zcash (ZEC)