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Coin IRA Review
4.5 Overall Rating
Bottom Line
Coin IRA, one of the first companies to offer Cryptocurrency IRAs, was formed in 2017 and maintains the BBB’s highest rating of A+. Customers can choose from a self service option, or they have an expert guide them through the process from start to finish. Customers can transfer all or part of your existing, eligible retirement accounts, or fund an IRA account with your IRS allowable contribution from a checking or savings account. Coin IRA recently added the capability to establish Individual Non-IRA Custody accounts as well, and an expanded list of 18 cryptocurrencies to choose from including Bitcoin, Ethereum, and Litecoin.
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About Coin IRA
Coin IRA, one of the first companies to offer cryptocurrency IRAs, was formed in 2017 and maintains BBB’s highest A+ rating. Customers can choose from a self-service option or have an expert guide them through the process from start to finish. Customers can transfer all or part of their existing, eligible retirement accounts or fund an IRA account with their IRS allowable contribution from a checking or savings account. Coin IRA recently added the capability to establish Individual Non-IRA Custody accounts and an expanded list of 19 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Coin IRA’s self-trading platform simplifies Cryptocurrency IRAs with an easy, secure account setup and funding process. Once your account is funded, you can simply execute trades on your own or call customer support for assistance. Coin IRA’s custodian, Equity Trust Company, insures your Bitcoin, Ethereum, and other digital assets and provides free cold storage for their ultimate protection.
Pros
- Easy account setup
- No monthly or storage fee
- Highly specialized IRA consultants
- Weekend hours by appointment
Cons
- 1.25% trade fee
Bitcoin and other cryptocurrency IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.
Coin IRA Services
Coin IRA offers an easy way to establish self-directed IRAs holding cryptocurrencies. Opening a cryptocurrency IRA is an excellent way to diversify your retirement portfolio with a portion of your savings. Coin IRA gives you the option of investing pretax dollars in a Traditional IRA or post-tax dollars in a Roth IRA.
In addition to 19 cryptocurrencies, Coin IRA clients can trade three precious metals – gold, silver, and platinum – in whole or fractional amounts at the lowest possible margins in the same free account with free metals storage.
Coin IRA is the only company on our best cryptocurrency IRA companies list that offers cryptocurrency trading in a non-IRA, taxable account. Customers choose their preferred “cost basis” for the account at the time of setup and can deposit any amount from a checking or savings account with a minimum of $5,000.
The fee schedule is the same as the IRA accounts, and clients choose their preferred cost basis for the account at the time of setup. Free insured cold storage and custody by Equity Trust also applies to this type of account.
You can ask Coin IRA consultants any questions about Bitcoin, Ethereum, Litecoin, XRP, or other virtual currencies.
Coin IRA Security
Security is a concern for cryptocurrency investors because of the potential for hacking and theft. However, all assets in Coin IRA accounts are titled in the name of the account holder, are in the custody and control of Equity Trust using Ledger Enterprise, and are not borrowed against or leveraged in any way.
Assets are held in “cold storage,” disconnected from the Internet, for ultimate risk management. Account holders’ metals are stored at Brink’s Salt Lake City.
| Custodial Storage | Data Security | Insurance |
|---|---|---|
| Insured, military-grade encrypted, cold storage | Industry-leading cybersecurity tools, practices and technology | End-to-End, dollar-for-dollar insurance; complete, worry-free coverage |
Coin IRA Costs
With Coin IRA, there are no setup fees, monthly or annual maintenance fees, or fees for insured cold storage, but there are some transaction fees. For self-trading, Coin IRA’s transaction fee is 1.25% on buy trades and 1% on sell trades. As of 2024, Coin IRA no longer charges an additional fee for assisted trades. Coin IRA has a minimum investment of $5,000.
How to Open a Coin IRA Account
You can visit the Coin IRA website to open a free account in less than 10 minutes or call the number on their website to speak to a specialist about opening a cryptocurrency IRA.
Coin IRA Complaints
Coin IRA holds an A+ rating with the Better Business Bureau and a 5-star Google reviews rating. ConsumerAffairs recommends considering Coin IRA because it offers free consultations before you commit to investing. Gold IRA Guide rates Coin IRA 4 out of 5 stars.
RetirementInvestments gives the company a 5-star review, but the details are dated. Some reviews point out a high Trustpilot score, but we only found one Coin IRA rating on Trustpilot from 2021. Overall, we found no Coin IRA complaints online.
Coin IRA FAQs
Yes, Coin IRA accounts follow the same regulations as all other IRAs. You can’t avoid the required minimum distributions with Coin IRA.
Demand for cryptocurrencies will increase as they become more widely adopted. Many digital currencies have a fixed supply, so the price should increase with demand. Retirement investors can take advantage of the gains Coin IRA can provide.
Cryptocurrency IRAs and gold IRAs can provide a hedge against inflation and devalued standard currencies. Digital currency and precious metals values can change rapidly, but cryptocurrency has the potential for greater appreciation as its use increases.
Yes. Most investors choose to create an IRA rollover to fund a digital currency IRA. A Coin IRA specialist oversees the rollover process to ensure everything goes smoothly and you’re not subject to IRS penalties.
Custodians provide insurance for digital assets. IRS regulations require a custodial company to manage all types of IRAs. Coin IRA says it works with various custodians, so ask your consultant about your options. Then discuss insurance with your choice of custodian.
Conclusion
Coin IRA provides a bridge between you and the digital wallets, exchanges and IRA custodians necessary for an IRA. Cryptocurrency IRA experts offer excellent customer service to create that bridge. Coin IRA provides more options than much of the competition for customizing the security layers protecting your retirement assets.