Crypto & Bitcoin IRAs: Expert Ranking 2024

In this guide, we’ll walk through 5 cryptocurrency IRAs that can help you save thousands of dollars in taxes. Our experts reviewed the best options on the marketplace based on factors like fees, minimum investment amount, and user reviews! 

Quick Look: The 5 Best Bitcoin and Crypto IRA platforms 

• iTrustCapital 
• Bitcoin IRA 
• AltoIRA
• BitIRA 
• Rocket Dollar 

Can I use a traditional IRA provider to hold crypto? 

At this time, traditional IRA providers like Fidelity don’t give users the ability to hold crypto directly. However, traditional IRAs allow customers to buy crypto ETFs and other crypto-backed funds. 

Should I use a crypto IRA or a traditional IRA? 

You should consider using a crypto IRA if you prefer to invest directly in cryptocurrency rather than invest in crypto-backed funds.

There are some advantages to investing directly in cryptocurrency. If you use a crypto IRA, you’ll be able to withdraw your holdings as crypto once you are eligible for withdrawals. If you invest in ETFs, you’ll only be able to withdraw your holdings as cash. 

When to use a crypto IRA: If you prefer to invest in cryptocurrency directly, you should use a self-directed IRA provider that allows you to buy your cryptocurrency in your retirement account. 

‍When to use a traditional IRA: If you are happy with investing in crypto-backed funds, you can simply invest in crypto ETFs through your traditional IRA provider.

What are the best Bitcoin and cryptocurrency IRA platforms?

iTrust Capital

iTrust Capital offers one of the lowest cost crypto IRA platforms. It’s a great option for investors looking for low fees and quality customer service. In addition, the platform allows users to invest in physical gold and silver! 

Cryptocurrencies supported: 30+ 

TrustPilot rating: 4.7 stars (3000+ reviews)

Custodian: Fortress Trust (qualified custodian) 

Pricing and fees 

• $0 monthly fees 
• $1,000 account minimum 
• Additional contribution minimum of $400 
• 1% fees on crypto transactions 
• $50 gold transaction fee over spot per ounce 
• $2.50 silver transaction fee over spot per ounce 

Bitcoin IRA

Bitcoin IRA was one of the first companies to provide a Bitcoin IRA solution. The platform offers a customizable trading dashboard and a wide selection of cryptocurrencies. However, it does have higher fees than other IRA providers. 

Cryptocurrencies supported: 60+ 

Trustpilot rating: 4.3 starts (23 reviews) 

Pricing and fees 

• $1,000 account minimum 
• 2% crypto transaction fee 
• 2.99% upfront service fee
• 0.08% monthly security fee

AltoIRA 

AltoIRA is an alternative investment IRA provider that provides access to real estate, art, and cryptocurrencies among other asset classes! AltoIRA offers the widest selection of cryptocurrencies of any IRA provider on this list — as well as relatively low fees. 

Cryptocurrencies supported: 200+ 

Trustpilot rating: 4.4 stars (1,200+ reviews) 

Custodian: Coinbase 

Pricing and fees 

• $0 monthly fees 
• $10 monthly fee (for starter plan)
• $50 account closure fee 
• 1% fee for crypto transactions 

BitIRA

BitIRA is notable for offering relatively low fees — including $0 monthly fees as well as end-to-end insurance on all cryptocurrency. However, BitIRA has the highest account minimum of any IRA provider on this list. 

Cryptocurrencies supported: 9 cryptocurrencies supported  

TrustPilot rating: n/a (no reviews on Trustpilot) 

Custodian: Ledger Enterprise (multi-sig authorizations for all transactions) 

Pricing and fees 

• $0 monthly fees 
• $5,000 account minimum 
• $50 account setup fee, $195 annual maintenance fee 
• 0.05% crypto storage fee 

Rocket Dollar

Rocket Dollar allows users to open a self-directed IRA or self-directed solo 401K allowing you to invest in a variety of assets within your retirement account—cryptocurrency included. It’s a great choice for investors who also want the ability to invest in assets like real-estate or in startups. However, the platform has higher fees than some of the other providers in this list. 

Cryptocurrencies supported: 3 (Bitcoin, Ethereum, Litecoin) 

TrustPilot rating: n/a (no reviews on Trustpilot) 

Custodian: Digital Trust 

Pricing and fees 

• No minimum opening deposit
• $15 monthly fee for Silver, $30 monthly fee for Gold 
• $360 setup fee for Silver, $600 for Gold 

How else can I minimize my crypto tax burden? 

Remember, cryptocurrency IRAs aren’t the only way to reduce your crypto tax burden. For more strategies, check out our guide to legally reducing your crypto tax bill. 

What is an IRA?

An IRA is an investment account that allows individuals to save for retirement with tax-free growth or on a tax deferred basis. In a crypto IRA, the underlying assets that you are investing in are cryptocurrencies like Bitcoin, instead of stocks/bonds/or other investments.

While you can’t directly invest in cryptocurrencies through most IRA providers, self-directed IRAs do allow investors to build their savings through alternative investments such as real estate, precious metals, and cryptocurrencies. 

For tax-conscious individuals, a Bitcoin IRA can be attractive as you don’t trigger taxable events when trading within these accounts like you normally would when trading on a cryptocurrency exchange.

How do crypto IRA taxes work? 

IRAs are taxed differently depending on whether you choose a traditional IRA or a Roth IRA. 

Traditional IRA 

In a traditional IRA, all of your contributions are deducted from your taxable income. You pay taxes on earnings that you withdraw once you are of retirement age. 

Roth IRA 

While Roth IRA contributions can’t be deducted from your taxable income, you will not be taxed when withdrawing from the Roth IRA. This can make a big difference on your total tax liability if you expect to be in a higher tax bracket in the future. 

Are crypto IRAs safe? 

All the cryptocurrency IRAs listed above use custodians to keep your cryptocurrency safe from hacks. 

If you’re interested in getting started with a cryptocurrency IRA, you should make sure to carefully research your IRA provider’s approach to keeping your assets secure. Some providers provide insurance and partner with custody solutions to make sure that your holdings are secure.

What are the drawbacks of a crypto IRA? 

Before you get started with a crypto IRA, it’s important to understand its drawbacks. 

Contribution limits

Unfortunately, you can’t put your entire savings within your cryptocurrency IRA. IRAs have a contribution limit of $7,000 a year for workers under 50 and $8,000 a year for workers over 50.

Income limits on contributions

In order to contribute to an IRA, you need compensation income that must equal or exceed the amount of your IRA contribution. Compensation includes wages, salaries, and self-employment income among other types of income.

Your ability to contribute to a Roth IRA is limited by your adjusted gross income (AGI) and your filing status. For 2024 single filers, the phase-out begins when your AGI is $146,000 and you are fully phased-out from Roth IRA contributions when your AGI is $161,000.

Limited withdrawals 

In both a traditional and Roth IRA, you will not be allowed to withdraw your money until you are 59 ½ years of age. If you withdraw your funds earlier, you will be subject to a 10% penalty. 

If you’re looking to take short-term profits on your cryptocurrency investments, holding your cryptocurrency in an IRA may not be the right strategy for you. 

Initial set-up

Unlike a 401(k), crypto IRAs like the ones listed above are set up without the help of your employer and without matching contributions.

File your crypto taxes today

Looking for an easy way to manage your cryptocurrency taxes? 

More than 500,000 crypto investors use CoinLedger to simplify the entire crypto tax reporting process. 

All you have to do is connect your exchanges and wallets. The app will handle all of the number crunching and generate auto-filled tax forms for you with the click of a button. Import these forms into your preferred tax software like TurboTax or TaxAct or give them to your tax professional. 

You can get started today with a free preview report.