Security and insurance are probably the most important reasons people invest in an IRA. That includes a Bitcoin IRA. After all, if every investor could reliably house their retirement fund under their own mattress or in their own safe and feel okay with that, nobody would need to pay fees to a third-party company to take care of it.
Building a nest egg for our golden years through investing is the only way human beings know to protect themselves throughout the later stages of life. Keeping assets secured and insured is thus the best insulation anybody has against life’s future roadblocks or challenges.
Then there is Bitcoin. Putting one’s net worth into a Bitcoin IRA isn’t for the faint of heart. It’s a volatile asset that can swing 30 to 40% in one day. Even though it’s been 11 years since Bitcoin’s inception, there is still a long way to go before it gains true stability as far as volatility is concerned.
Still, risk and reward are always tied together, and as long as an investor uses a good strategy for asset allocation, taking on a high degree of risk within a portion of one’s portfolio can really pay dividends in the long term. Deciding what one’s asset allocation should be like involves taking an investment questionnaire and judging your own risk tolerance honestly. Alternative assets aren’t for everyone.
Strategy aside, understanding what the top companies are in what they have to offer in terms of security and insurance is imperative to choosing the right Bitcoin IRA provider. Here’s what you need to know.
The Most Secure and Insured Bitcoin IRA Providers
In comparison to traditional investment vehicles, there actually aren’t that many Bitcoin IRA providers available to investors on the open market. The good news with that is there isn’t a lot of information to parse through. What’s also good about all this is that the leading Bitcoin IRA companies are usually either parent companies of commodities investment firms or they have sold precious metals before, meaning they know what their target audience is looking for and they have significant experience in managing investments dating way back to before Bitcoin’s inception in 2008.
The number one Bitcoin IRA provider by far is a company called Regal Assets. They are based out of California and the company has years of experience in precious metals. They rank number one for a variety of reasons. Security and insurance are only two of them.
More about Regal Assets
Put aside Bitcoin and cryptocurrencies for a second. Within 10 years of its inception, Regal Assets and its founder Tyler Gallagher represented one of the most popular precious metals investing providers in the world. Regal Assets has been featured on the Huffington Post, Forbes, MarketWatch, Smart Money, Bloomberg and more.
Today, Regal Assets is widely regarded as one of the world’s leaders in gold and silver investing, and like many other Bitcoin IRA providers, has transitioned into cryptocurrencies. No Bitcoin IRA provider in the industry offers more than $100 million in insurance coverage. Guess which provider is the leader in that category? Regal Assets. The insurance covers investors end-to-end, ensuring their investment is safe.
In Bitcoin, assets are digital. They only exist on a blockchain, a decentralized database that nobody can hack. As much is that database cannot be hacked, it doesn’t mean that a website or virtual while it can’t be hacked. They totally can be. That’s why these Bitcoin IRA providers use custodians or provide them in house to make sure that they can adequately protect customer assets. Regal Assets is no exception. Assets are protected by a third party with a reputable track record.
Combine the insurance with the security and there’s no reason not to do business with Regal Assets. An investor was serious about their IRA won’t hesitate to take a look at the company, but there are also other reasons to invest with Regal Assets.
Most Widespread Cryptocurrency Offerings
Only o other Bitcoin IRA provider comes even close to offering the 10 cryptocurrencies that Regal Assets offers. They include:
- Bitcoin Cash
- Bitcoin SV
- Bitcoin Gold
- Ethereum Classic
The above projects are the most respected in the industry, perhaps with one exception. Ripple. Ripple gets a lot of flak from Bitcoin purists because it’s the only cryptocurrency project in the world that is not truly decentralized. It’s owned by a private company. People who believe in democratizing wealth think that investing in a private company that assists central banks only perpetuates the perils of the traditional banking system on a different platform.
Nevertheless regardless of political ideology or personal preference, the above projects have a reputation for being relatively stable and worthwhile endeavors to invest and in comparison to the 2500+ other cryptocurrency projects on the market that tend to come and go.
Top Customer Reviews
Regal Assets is the only bitcoin IRA company in the world that has perfect ratings on Google, TrustPilot, BirdEye in every single other review site the company is listed on. There literally isn’t a single person online that has given Regal Assets anything less than a five star rating. In today’s day and age where everybody has access to social media platforms and reputation and review sites and can gladly voice their opinion, the fact that Regal Assets has a perfect rating across all platforms speaks volumes to the customer service that investors experience when they do business with the company.
Why Other Bitcoin IRA Providers Rank Lower
To be clear, when it comes to security and insurance, it’s not as if the other Bitcoin IRA providers don’t do a good job. Regardless of the asset class being invested in, investing itself is a heavily regulated industry all across North America. It’s very difficult for businesses to establish themselves, be compliant in terms of regulations, and offer customers the best possible rates, fees and prices in a very competitive marketplace. That’s good news for the end investor.
There are other IRA providers that offer $100 million worth of insurance like Regal Assets, but we couldn’t rank them number one because of other differences, and to be frank, most IRAs actually offer significantly less than $100 million of insurance as you’re about to find out.
Best Bitcoin IRA Provider: Our Second Place Finisher
BitIRA gets the silver medal as the second-best Bitcoin IRA provider on the market today. The number one reason for that doesn’t necessarily have anything to do with insurance or security, it’s more so that the team at BitIRA collectively has over 100 years of experience in helping customers invest in commodities. Bitcoin has been around for just more than a decade. The bulk of BitIRA’s experience comes from the precious metals industry.
The best part about security at BitIRA is that the company is they use as custodians are all big recognizable names that even somebody who knows nothing about cryptocurrency would know. Merrill Lynch, Edward Jones and Fidelity ring a bell?
The added bonus is that BitIRA also offers customers up to $100 million in insurance coverage. The reason it is ranked lower than Regal Assets is because the customer reviews are less than perfect and no other IRA provider outside of Regal Assets offers 10 different cryptocurrencies for investment.
Noble Bitcoin Gets the Bronze
Noble Bitcoin makes the podium as a top Bitcoin IRA provider because just like BitIRA, the organization comes with tons of experience in the precious metals industry. The best part about securing assets with Noble Bitcoin is that the company doesn’t use a third-party custodian provider. They handle everything in house. The benefits of that for the investor is that if there’s a problem they can go straight to the company. There’s no third party to deal with. The downside of that is that Noble Bitcoin takes on a bit more of the risk, but then again finance companies that are serious about serving large groups of people always have checks and balances in place. The U.S. government requires all financial institutions to be properly licensed and regulated. Engaging in proper due diligence is always a must.
The reason Noble Bitcoin can’t be given a spot in the top two among Bitcoin IRA providers is that the company offers significantly less insurance coverage than competitors. Only $9 million in assets will be covered in the event something happens to a customer’s account. The thing is that Noble Bitcoin aims to cater to the entry-level investor. They make everything simple, but they’re not catering to the top of the top investor. The average person who isn’t worried about losing millions of dollars they don’t have isn’t going to be too worried about this. The average customer will still have peace of mind if they go with Noble Bitcoin.
Not to be confused with direct competitor BitIRA, BitcoinIRA doesn’t offer as many cryptocurrencies for investment as top dogs like Regal Assets, but it does still go far beyond Bitcoin and Ethereum. They also make it super easy for the beginner investor to get involved with cryptos. Customers only need a minimum deposit of $3,000 to get started. That’s by far the lowest amount of money of all the Bitcoin IRA providers that are out there.
BitcoinIRA does ensure investors up to $100 million and they make eight different cryptocurrencies available for investment:
- Bitcoin Cash
- Ethereum Classic
- Stellar Lumens
BitcoinIRA does a good job offering lots of different options to new investors who may still be working on the early days of building their nest egg.
CoinIRA offers $100 million in insurance coverage like Regal Assets and BitIRA. It’s also backed by a long-standing precious metals company, Goldco. CoinIRA is merely a subsidiary of Goldco. It’s for that reason that the company has managed to accrue a large customer base of investors. They require a minimum $15,000 deposit which is substantial but not so much so that it prevents people from getting involved.
CoinIRA clearly wants investors who have some experience or at least a higher net worth that most. Moving into the cryptocurrency sector of investing only makes sense for a company that has pre-existing relationships with highly targeted customers.
CoinIRA couldn’t do enough to grab the number one spot, but it is still a top competitor in the space because of the pedigree of the people who run the company.
Investing in Other IRAs
If it makes sense that most Bitcoin IRA providers to have a proven history in precious metals, then it makes sense for investors who want Bitcoin and other cryptocurrencies in their IRA to take a look at investing in gold and silver. It’s a higher risk investment than picking from traditional mutual funds, but not as risky as digital currencies. Regal Assets, Bitcoin IRA and CoinIRA are the three companies in this blog post that have access to the precious metals market directly.
Regardless of which provider investors choose, they are always encouraged to assess their own risk tolerance and invest accordingly. It’s never advisable to put all of one’s eggs in one basket and diversification is a must. Consult an investment professional or phone one of these providers and ask questions. Be diligent in choosing the right provider and watch Bitcoin and your retirement portfolio flourish in the long run.