What is Bitcoin IRA, and should you invest in it. This article will aim to help you decide if it’s a worthy investment for your future.
A little about me. I have dabbled in cryptocurrency for years now but only started to take it seriously in the last year. I’m not sure if I should credit the pandemic and how it has turned me into a more fiscally responsible adult or the regret I’ve had selling my BTC and ETH in the past. Whatever the case may be, I’m happy to be more educated and active in the crypto world.
After buying, staking, and building up my crypto portfolio, I decided it was time to further diversify my portfolio by trying my hand at a Bitcoin retirement account with Bitcoin IRA. Here’s what you need to know.
How Bitcoin IRA Works
In just three easy steps you can get your account set up and ready to go.
- Create your account in under 3 minutes: Access your customized dashboard and digital wallet after creating an account. You’ll be able to fund your account, access live-pricing, and learn more with our fully-loaded knowledge base with tutorial videos, infographics, and articles.
- Transfer funds: Transfer your IRA in 3 easy steps. Simply tell us how much you want to invest, how you want to fund your account, and your profile information. Most accounts will be ready to trade in just 3-5 business days.
- Start trading 24/7 in real-time: Once your account is funded, you can trade digital assets inside your self-directed retirement account using our proprietary platform. Buy, sell or swap anytime, anywhere by visiting the self-trading area within your dashboard.
Is Your Investment Safe?
Not to sound like a sheep, but over 100,000 people have put their trust in Bitcoin IRA so far, so I’d say it’s pretty safe. In case you don’t feel swayed by big numbers like that, perhaps this will convince you that Bitcoin IRA is a safe bet for your retirement investment.
For account security, Bitcoin IRA uses BitGo Trust to store your digital assets safely. Who are they and why should this matter to you you’re wondering? BitGo Trust is powered by BitGo Inc., the world’s largest processor of on-chain Bitcoin transactions. As of today, that’s 20% of all global Bitcoin transactions and holding over $2 billion in assets in wallet. Allow me to break this down into numbers that matter to you. By investing into a Bitcoin IRA for your retirement, your custodial assets are insured for up to $100 million. This is made available from BitGo Trust and their insurance provider Lloyd’s of London, the world’s specialist insurance and reinsurance market.
Additionally, your retirement investments are 100% stored offline in segregated cold storage accounts at BitGo Trust, a US-Based Qualified Custodian.
My Bitcoin IRA Review
After watching Bitcoin IRA’s video (below) and seeing how easy it was to get started, I decided it was time to review them myself. The entire process was simple and took only a few minutes to set everything up. I decided to fund my account with some of my Roth IRA funds over at Vanguard, which took three business days to transfer. I can’t say for sure how quick it will be for you, but they suggest it will take around 3-5 business days on average.
For me, the name of the game is diversification. Why did I choose Bitcoin IRA out of the other Bitcoin IRA companies on the market? Simple, because they were the first to do it and they did it right! I have no idea what there is in store for cryptocurrency over the next few decades. The one thing I do know is I want to be part of it. You know, something I can be proud to tell my grandkids that I was in on the ground floor when it all began. As someone who is somewhat of a betting man, I would bet that I will have a very comfortable retirement whenever that time comes. We will just have to wait and see ;)