Discover the BitIRA Fees and Other Important Information

• BitIRA acts as a custodian for crypto assets and manages all transactions.
• Investors deposit their cryptocurrencies with BitIRA and BitIRA stores the assets in crypto-secure cold wallets. BitIRA offers both self-directed and advised by advisers options.
• The self-directed option allows investors to choose which cryptocurrencies to purchase, and when to trade.

Cryptocurrencies are becoming increasingly popular among investors worldwide. While Bitcoin (BTCUSD) is the most popular cryptocurrency, many other altcoins such as Ethereum (ETHUSD), Litecoin (LTCUSD), and Ripple (XRPUSD) are also showing impressive returns.
The popularity of cryptocurrencies is attracting investors who want to invest in digital assets but don't want to invest in stocks or bonds. BitIRA, a crypto investment platform, has helped many investors realize their investments goals.

BitIRA Fees

As of August 2019, the BitIRA charges a 1% fee annually for accounts under $10,000, and a 0.5% fee annually for accounts over $10,000. No fee will be charged for the first year. There is also a $50 account maintenance fee.

What Types of Digital Assets Can Be Held in a BitIRA?

The BitIRA is a custodial service for Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin, Ripple, and the Zcash cryptocurrency.
Do you Accept Fiat Currency?
No, BitIRA does not accept fiat currencies.
Does BitIRA Hold Assets in a Safe Place?
Yes, BitIRA holds all digital assets in a secure offline environment.

How are Cryptocurrencies Stored in a BitIRA?

BitIRA allows users to store their digital assets in cold storage, which is the safest way to safeguard your investments. BitIRA allows you to store Bitcoins, Ethereum, or Litecoins, and it might be the most convenient way to store them.
BitIRA charges a 1% fee per withdrawal, and 1% fee per deposit. There is a one-time fee of $50, which is a nonrefundable fee. Additionally, there is a 0.01% fee on all trades.

What Type of Fidelity Bond is Required for BitIRAs?

Most BitIRAs use U.S. government bonds that are rated AAA by Moody's or S&P. However, some IRA custodians accept lower-rated bonds.
What Are the Bond Redemption and Exchange Fees?
For Fidelity IRAs, the redemption fee is 1% of the face value of the bond redeemed. The exchange fee is 0.5% of the face value of the bond exchanged. This fee is not applied to bonds purchased through BitIRA.
Does My BitIRA Have to Use Digital Tokens?
No, BitIRAs can use any type of asset, including virtual currencies or physical gold.
How Long Does it Take to Open a BitIRA?
You can open a BitIRA account with Fidelity in just over 60 seconds.

Is BitIRA FDIC Insured?

No, BitIRA is not FDIC insured, and your crypto-assets are not protected by government insurance.
Is BitIRA a Custodial Account?
No, BitIRA is not a custodial account. Your crypto-assets are secured by TrueCrypt encrypted wallets. All crypto-assets are secured offline, and private keys are kept by you.
Is the BitIRA Investment Product a Cryptocurrency Exchange?
No, BitIRA is a cryptocurrency investment product. It is a single-currency investment product, meaning that you can invest in BTC, ETH or LTC. BitIRA is not an exchange, and it cannot offer trading or liquidity.
Is there a Minimum Investment for BitIRA?
Yes, BitIRA requires a minimum investment of $500.
Is there a Maximum Investment for BitIRA?
Yes, BitIRA has a maximum investment limitation of $1 million.

How Is BitIRA Different From Other Digital Asset IRAs?

The BitIRA is different from other digital retirement accounts for a number of reasons.
First, the BitIRA is a self-directed IRA, meaning that you invest your IRA funds into the digital IRA itself, rather than buying digital assets and transferring them to your IRA.
Second, the BitIRA offers custodian services for IRAs, unlike many other cryptocurrency-related wallets and IRA providers.
Third, the BitIRA offers custodial services for non-IRA accounts, including self-directed 401(k)s and Roth IRAs.
Fourth, the BitIRA also offers custodian services for cryptocurrency brokerage accounts, including Coinbase, Bittrex, Kraken, and more.
Fifth, the BitIRA offers custodian services for precious metals accounts, including Gold, Silver, and Platinum.

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BitIRA vs. Traditional IRA

The fees associated with BitIRAs are minimal, making it a great option to consider. The biggest difference between using Bitcoin or a cryptocurrency as a retirement vehicle and a traditional IRA is the cost. With a traditional IRA, there are usually fees associated with certain types of investments. This usually includes transaction fees, annual record-keeping fees, and account-opening fees.