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Last Updated on: 10th February 2023, 06:49 pm
BitIRA is a Bitcoin IRA company based in Burbank, CA. It is one of the top-rated companies we reviewed here at Gold IRA Guide. Unlike household names like BitcoinIRA.com, BitIRA is relatively new to the cryptocurrency IRA space (the company was founded in 2017).
Despite its young age, BitIRA is already positioning itself as one of the leaders in the field by trying to improve their offering, fee structure and security standards. We invited Jay Blaskey, their head of sales, for an interview to learn more about the company, its mission and how it differentiates itself from other competitors in the space…
What is BitIRA's mission?
Too many Americans don't realize that their investment options for retirement are not just limited to the stocks and mutual funds that most IRA or 401(k) plans offer. At BitIRA, we believe in educating people about the benefits of diversifying their IRA with one of the lesser known options available to them, cryptocurrencies. By helping our customers to move some of their IRA into crypto, not only do they diversify with an asset that isn't correlated to equities markets, but they tap their IRA into tremendous growth potential.
What makes BitIRA different from competitors?
BitIRA stands out from the competition for a number of reasons. First, we offer the most comprehensive insurance on the market, which covers the purchase and sale of crypto as well as while in storage. At any of these stages, customers' assets are fully covered against any hacks, fraud, theft or mistakes. No other company offers this. Second, our custodian's fee structure is one of the fairest on the market. Unlike other custodians, ours doesn't charge a percent of assets under management. Finally, our approach to regulatory oversight isn't to just do the bare minimum; instead, we go out of our way to protect our customers however we can. For example, New York state imposes infamously strict standards for companies to sell crypto, and this prohibits many other companies in our industry from working with customers who live there. For BitIRA, however, we have the regulatory oversight to sell to customers in New York.
Why should investors and retirement account holders consider cryptocurrencies in their portfolio?
They should consider cryptocurrency for the same reason that people in late 1990s and early 2000s wanted to invest in tech stocks. We're on the cusp of full adoption of this game-breaking technology, and some people want to have that potential growth represented in their retirement account.
There are over 1,000 cryptocurrencies, which ones should IRA investors consider investing in and why?
The majority of our customers invest only in Bitcoin. For many, this makes sense, as Bitcoin represents over two-thirds of the crypto market. Further, it has the largest institutional acceptance and longest history, with most resources committed to development. Beyond Bitcoin, however, we have vetted seven other cryptocurrencies that meet our standards for trading, storage and compliance. Our customers can select among any of them, and we are happy to explain the pros and cons of each.
Where do you see the price of Bitcoin going in the next 10 years?
If Bitcoin gains viability as a safe haven asset, thus attaining a market cap that's even a fraction of gold, $100,000 to $250,000 is easily a possibility. These odds are improved by the fact that, as time goes on, fewer and fewer Bitcoin will be created.
Learn more about BitIRA by reading our BitIRA Review.
You can also request their free kit by heading to www.BitIRA.com