BitcoinIRA vs Equity Trust Company vs CoinIRA
BitcoinIRA vs Equity Trust Company vs CoinIRA seems like a rather interesting comparison. Promising better retirements, these companies offer crypto-based IRAs. By letting you invest funds from your previous IRAs, you won’t have to scrounge up additional cash. Then, diversifying your portfolio won’t have adverse tax implications.
BitcoinIRA
BitcoinIRA has been around since 2016, making them the first IRA company to diversify into the industry. They’ve been praised for their user-friendly interface, not to mention 24/7 trading.
Main Features
Established in 2016:
With five years in the industry, they’ve had plenty of time to test their platform’s security. You can invest in nine of the most popular cryptos, ranked by market capitalization.
Funds deposited to your account can begin trading within as few as three days. Plus, once you’ve received them, trading is accessible around the clock.
Services
BitcoinIRA primarily offers IRA investments, albeit a little nontraditional. They were the first retirement investment company to begin diversifying into crypto.
9 Cryptocurrency Options:
Bitcoin, Ethereum, Ripple and Litecoin are only a few of the options BitcoinIRA provides.
Fees
where someone chooses to do business depends upon how much that business charges. The higher the cost, the better the service must be for the customer to justify the purchase. How much would you expect to spend if you decided to do business with BitcoinIRA?
Fee Schedule
- $3,000 Minimum Account Balance:
Graded against its competitors, this would be one of the smallest minimum balances we’ve seen. Thus, making it only a minor barrier to entry. - 10 to 15% of Initial Investment:
Even the largest deposits would only have to pay 15%, at most. Smaller investors might only have a 10% initial fee. - $240 Annual Fee and $75 Asset Conversion Fee:
Asset conversion fees apply any time you’ve converted one currency into another. The annual fees hit your wallet at the same time each year, making them easy to plan for. - 1% Buyer’s/5% Seller’s Fee:
Fees have been set so that buyers and sellers both pay them. However, it costs more as a seller.
Types of Storage
Anyone who purchases coins from BitcoinIRA can store them digitally on their website. They’ll be protected by advanced security protocols there.
Cold Storage Options:
For even better security, you can have your coins stored in a cold wallet, taking them entirely offline.
Insurance Coverage and Safety of Assets
Before doing business with the company, we’ve always checked out how they protect our investments. Otherwise, investing with them would’ve been reckless.
$100 Million Policy:
BitcoinIRA’s adopted the industry-standard insurance policy, providing $100 million of protection.
Customer Service and How to Open an Account
Our largest complaint would be how long the application process is. Not to mention, you’ll have to speak with a customer service representative before you can open an account.
Equity Trust Company
Backed by decades of industry experience, Equity Trust Company has helped more customers than any other company on this list. Although they’ve been late to enter the crypto industry, they’ll still stack up well to their competitors.
Main Features
We’ve seen tons of companies, but only a handful have gotten rid of all their transaction fees. Equity Trust Company would be one of them.
38 Years of Experience Managing IRAs:
Better yet, they’ve got the longest-running track record out of all the companies we’ve reviewed.
Services
With so many years in the industry, they’ve been around much longer than crypto. Before their latest endeavors, they’d been offering self-directed IRAs for over 30 years.
Self-Directed IRAs:
investing with them gives you control over your portfolio. Transactions backed by zero dollar fees, it’s hard to deny how competitive they’ve made their offer.
Crypto IRAs:
Nowadays, you can even invest in crypto. You can choose from up to 9 different coins, and they will hold with them for you in an IRA.
Fees
Fee Schedule
- $205 to $2,150 Annual Fee:
Equity Trust Company’s annual fee adjusts according to the size of your account. As your accounts grow larger, so will the annual fee. - 0.07% Monthly Cold Storage Fee:
Even the most studious hacker could and penetrate a cold wallet, as they don’t have network connections. For a small fee, they’ll let you store all your assets in a cold wallet. - $50 Setup and $20 Monthly Fee:
Starting an account with Equity Trust Company is highly affordable. With just $50, you can get started now. Plus, there’s only a $20 monthly premium.
Types of Storage
Where you place your assets directly impacts how secure they will be.
storing them in the brokerage wallet tends to be more than secure enough. However, they’ve got an even better option for those who are security conscious.
Cold Storage:
By removing your coins from the network, and placing them in a cold wallet, your assets will be completely impenetrable. Plus, storing them in a cold wallet isn’t overly expensive.
Insurance Coverage and Safety of Assets
Protecting your assets is among the most important parts of any companies business. If they’ve got to security flaws, nobody ought to do business with them. Luckily, that’s not the case here.
End-to-End Insurance:
Besides 256-bit encryption, they’ll ensure all your investments. That way, even if something happens, you’ll be protected.
Customer Service and How to Open an Account
Speaking with customer service could be a lot better. However, since you’ve got to call them to set up an account, you’ll have to struggle through it.
CoinIRA
CoinIRA has been the industry’s top alternative IRA company. Split from the parent company Goldco, they’ve made a name for themselves by offering superior service.
Main Features
Low fees and plenty of coins are among their most-enticing features. You’ll have a tough time exhausting all your options, considering how easy they’ve made IRA rollovers.
For Beginners, They’ve Hired Crypto-Consultants:
Even novice traders can learn how to evaluate investments in no time. By speaking to their consultants, they’ll teach you about anything you’d like to know.
Services
Building upon their experience as Goldco, CoinIRA has a relatively diverse range of services.
IRA Rollovers:
Anyone who has money in an IRA can use those funds to invest in crypto. Plus, by working with CoinIRA, they’ll help you avoid adverse tax impacts.
Crypto Investments:
Offering 9 different coins, investing in crypto hasn’t gotten any better. We’d invest in several of them. That way, you’d have the most diverse portfolio possible.
Fees
Fee Schedule
- $50 Setup Fee:
Only $50 will get you a new account. As long as you’ve got that much, setting up something is a breeze. - $195 Annual Fee:
Plus, with some of the lowest annual fees in the industry, maintaining an account doesn’t cost much, either. - 0.05% Monthly Cold Storage Fee:
Even storing your coins in cold storage is more affordable here.
Types of Storage
Don’t just let anyone handle your coins. Always check out how they’ve secured them from potential threats. Otherwise, you’d be taking an unnecessary risk.
They’ll Hook You Up With Cold Storage:
CoinIRA’s got an amazing cold storage option. For only 0.05% of your balance monthly, you can have your whole portfolio kept in a cold wallet.
Insurance Coverage and Safety of Assets
Up to $100 Million:
CoinIRA offers a comprehensive policy, standard for all investors. Anything, up to $100 Million, would be covered in the event of an accident.
Customer Service and How to Open an Account
Best of all, they’ve got multiple methods of contacting customer service. Setting up an account can be done online or over the phone.
How CoinIRA’s Service Appears to Be Better Than The Rest
You’ll never find a better place to store your coins in cold storage. Not only does CoinIRA let you invest in crypto, but they’ve for the most affordable storage fees also.
