We will attempt, but cannot guarantee, customers will receive any tokens derived from “hard forks.”
FAQ Category: About Cryptocurrency
Can I transfer cryptocurrencies I already own into a Digital IRA?
No. At this time, you cannot transfer your current cryptocurrency holdings into an account with us. The IRS requires that buying into a cryptocurrency-based IRA be done with US dollars.
Can I spend the digital currencies from my new IRA account?
Spending or withdrawing funds from any IRA account before you reach the retirement age of 59 ½ will result in early withdrawal tax penalties. Any IRA account is meant to be a fund drawn upon only after you retire. Selling your funds is approved so long as it is used to reinvest in an IRA or is held in your account in a liquid state.
How do I invest in Bitcoin and other cryptos?
We’re a full-service platform, and we will walk you through the process from start to finish. Our specialists can help you set up your account, roll over your funds from an existing retirement fund or from your bank, execute a self-directed trade, and move your coins securely into a digital wallet.
Can I buy Bitcoin for my IRA externally with Fidelity or Coinbase?
No. You are unable to purchase cryptocurrencies for your retirement account with any other custodian or exchange at this time. We offer cryptocurrencies like Bitcoin for IRAs and other retirement accounts.
What retirement accounts are eligible to be rolled over?
You can roll over funds from an existing IRA, Roth IRA, SEP IRA, SIMPLE IRA, 403b, or 401k into a self-directed IRA account with us.
What cryptocurrencies are available for IRA investment?
We currently offer Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Stellar Lumens (XLM), Zcash (ZEC), Bitcoin Cash (BCH). You can invest entirely in one cryptocurrency or a combination of multiple cryptocurrencies.
What are the cryptocurrency fees?
There is an initial one-time service fee that varies depending on your investment amount. This service fee covers our comprehensive services, which include full support services for rollover of retirement funds, complete set up of a self-directed retirement account with BitGo, and best-in-class security storage, among other offerings. In addition, there is a minimal custodian and security fee.