BitIRA | The Essential Guide to Digital IRAs

How to Easily Convert Your Retirement to a Digital IRA

The only way to include digital currencies in your retirement account is to use a Self-Directed IRA. In adherence with IRS regulation, this is the one type of retirement account that can legally own special assets like digital currency, physical precious metals and real estate.

Thankfully, switching to a Self-Directed IRA is quick and simple, with zero tax penalties or implications in the vast majority of cases.

Your first step will be to contact BitIRA. Your Digital Currency Specialist will explain the process in greater detail as well as the options that you may have. Each step of the way, your Digital Currency Specialist is there to answer your questions and prepare your account.

But most importantly, the IRS has now officially classified digital currencies as personal property, allowing them to legally be held as a retirement asset inside a Self-Directed IRA.

Most retirement accounts can quickly and easily be converted to a Self-Directed IRA with zero penalties. We explain the process step-by-step here.

But first, let’s examine 8 foundational reasons for the swift, steady growth of digital currencies, and why anyone with a retirement account should consider taking advantage of them…

Here’s How It Works

STEP

Open & Fund Your New Self-Directed IRA:

You will maintain full control over the assets in your new account, administered by the Equity Trust Company.

Once your account is open, you can transfer assets into your new IRA. You can fund your digital currency purchase by:

  • liquidating existing assets you’ve transferred into your new account
  • contributing new funds

STEP

Select & Purchase Your Digital Currencies:

After a consultation with your Digital Currency Specialist, your new digital currencies will be acquired by BitIRA on your behalf through our exchange partner Galaxy, a full-service prime broker of digital assets.

STEP

Manage Your Investment:

The My BitIRA platform gives you to power to take total control of your cryptocurrencies. Just a few of the tools at your fingertips:

    • Live trading: Trade assets 22 hours a day, 7 days a week in real time.
    • Triggered trades: Set up custom rules to create buy and sell orders automatically at price levels you specify.
    • Unrivaled Speed – Quotes are stable and transactions are lightning-fast, executed instantly and settled on the next business day.
    • Easy reporting: View balances, transactions, historical performance and everything you want to know, available at a glance.
    • Insured – Your crypto assets are insured for up to $10 million during trades and $150 million in storage. 

STEP

Rest Easy:

BitIRA’s best-in-class combination of absolute cold storage and end-to-end insurance makes your digital currencies (and your investment) as safe as they can possibly be.

DISCLAIMER: The decision to purchase or sell virtual currencies (also known as “digital currencies” or “cryptocurrencies”), and which cryptocurrencies to purchase or sell, is ultimately your decision alone. Purchase and/or sale decisions are highly individual and must be a function of each customer’s individual financial situation, goals, and risk tolerance. BitIRA is not a financial planner, investment advisor or retirement specialist. BitIRA is not responsible for your decision to purchase or sell digital currencies, or the timing or results of any such act (or failure to act). Any and all assistance BitIRA may offer or provide does not create a fiduciary relationship between you and BitIRA. Any and all purchases and sales are made subject to your own research, prudence, and judgment. BitIRA does not provide tax, investment, financial planning, retirement-specific, or legal advisory services and no one associated with BitIRA is authorized to render any such advice or service. BitIRA is not responsible for any consequences of you purchasing cryptocurrencies for IRAs, trusts or other persons or entities, or for any changes in the laws relating to such purchases or sales. Any written or oral statements by BitIRA, its principals, agents, or representatives, relating to future events constitute opinions only, and are not representations of fact.