BitcoinIRA vs iTrustCapital vs CoinIRA
BitcoinIRA vs iTrustCapital vs CoinIRA is an interesting matchup. Focused on the cutting-edge, each of these nontraditional finance companies makes a case for itself. Figuring out which of them is the best, we’ve looked at them in detail.
That way, instead of wasting your time with something less than stellar, you’ll be happily investing.
Even small differences add up, so we’ve ranked them according to our rubric. Each company has been compared on the same factors. Thus, ensuring a balanced perspective, at least to the greatest extent possible.
BitcoinIRA
BitcoinIRA doesn’t just work with Bitcoin. They’ve got 9 different crypto options, each of them unique. Not to mention, compared to the others on our list, they’ve been around for the longest.
Company Hightlights
- Established in 2016:
Over 5 years in the industry, you can rely on their expertise, as they’ve got more than most. - 24/7 Trading:
Whenever you’d like to change strategies, just open online to execute your trade. It’ll always be available. - Secure Cold Storage Options:
Would you like to secure your assets somewhere secret? Pull them off the internet and store them in a cold wallet.
Products and Services
BitcoinIRA specializes in IRA transfers and cryptocurrency transactions. By using their tools, anyone who has money stashed in an IRA can leverage those funds into crypto.
Trading in 9 Cryptocurrencies:
Best of all, they’ve got much more than just Bitcoin. Litecoin and Ethereum are among some of their more prominent options, and there’s plenty more where those came from.
Fees
BitcoinIRA’s weakest point would be their fees. Higher than average, most of their fees take a bite of your profits, making it harder to break even.
$3,000 Minimum Account:
Their minimum account balance isn’t too outrageous. However, for the smaller investor, it may be a bit out of reach.
Fee Schedule
- 10-15% Initial Investment Fee:
These are assessed on a sliding scale. So, if you happen to invest a larger amount, you’ll pay less of your total as a percentage. - $240 Annual Fee:
This fee hits you once a year, all at once. - $75 Asset Conversion Fee:
Would you like to convert some of your USD into crypto? If so, you’ll be hit with this fee. - 5% Buy Fee:
Every time you make a purchase, you’ll pay this fee. - 1% Sell Fee:
Each sell must pay 1% of its total in the form of a seller’s fee.
Types of Storage
How you store your crypto is a big point of contention. Here, you can choose to let them hold onto it for you, online. Or, you can pull your funds off the brokerage and keep them in cold storage.
Insurance Coverage
Up to $100 Million:
Even the smallest account has up to $100 million protected by insurance.
Safety of Assets
256-bit Encrypted SSL Trading:
Industry-standard, their 256-bit encryption ensures no one hacks your account. Even a supercomputer couldn’t crack these codes, at least not quickly enough.
Customer Service
More than anything else, they’ve fallen flat when it comes to their customer service. Speaking to a rep was helpful, but they’ll make you feel like a burden.
Opening an Account
Setting up an account wasn’t hard. You’ve just got to complete an online application, and they’ll help you with the rest.
iTrustCapital
iTrustCapital hasn’t been around for as long as the other companies on this list. Nevertheless, in a few short years, they’ve gained quite the notoriety. Such a small minimum account balance is a huge boon, for sure.
Company Highlights
- $1,000 Account Minimum:
Smaller investors rejoice. Their account minimums are some of the smallest in the industry. - Founded in 2018:
Although they’ve only been around for 3 years, it seems as if their customers are nothing but satisfied. - $30 Trade Minimum:
One of their biggest downfalls would be the size of their trade minimums. If you’d like to trade small amounts, you’d have to look elsewhere.
Products and Services
You can purchase both gold and cryptocurrency from them. iTrustCapital sends physical gold to its customers, at least to those who purchase it.
Fees
Their fees aren’t too bad. However, we’ve certainly seen better.
Fee Schedule
- 15% Crypto Transaction Fee:
Above all, this fee hurts the most. Each crypto trade gets taxed a full 15%. - $30 Monthly Fee:
The monthly fees don’t look like too much, but they’ll add up to over $360. - 1% Transaction Fee:
On top of your crypto fee, you’ve got another 1% fee for every transaction.
Types of Storage
Don’t try to pull your coins off this brokerage, as you can only store them there. No cold storage options are available.
Insurance Coverage
Every account receives an insurance policy worth up to $50 million.
Safety of Assets
Multiple Authentication Protocols:
Their team swears by their safety protocols. Apparently, they route everything through several layers of advanced security technology.
Customer Service
Speaking to their customer service was a bit frustrating. We’ve seen places do a lot better.
Opening an Account
You’ll have to do everything online to open an account with them. If you’d rather do something over the phone, other places would be a better option.
CoinIRA
CoinIRA stands alone in the crypto IRA industry. Other companies try to entice users with low minimum balances. But then, they’ll hit their customers with crazy surcharges.
CoinIRA keeps things simple.
Company Highlights
- $20,000 Min for Crypto IRA Account:
Obviously, we’ve seen minimums a lot lower than this. Still, for what you get, it would be worthwhile. - Operating Since 2017:
Longer than some, their length in the industry ought to inspire some confidence. Over the last 4 years, they’ve rarely had a complaint. - Cryptoconsultants:
Sometimes, dipping your toes into a new industry can be a tad overwhelming. Speaking with one of their consulates can assuage those nerves.
Products and Services
CoinIRA has one specialty, crypto IRAs. If you’ve been searching for where to find the best crypto IRAs, we’d say you’ve found it. Bolstered by their combination of low fees and high security, it’ll be tough to find a better option.
Fees
How much are you going to spend? That’s always the number one question. Even a great service might not be worth it if the price tag is set too high.
Fee Schedule
- $195 Annual Fee:
Their annual fees are the lowest on the list, at less than a measly $20 per month. - $50 Setup Fee:
Setting up an account isn’t too expensive, either. Just pay the one-time fee, and you’ll be good to go. - 0.05% Monthly Storage Fee:
Larger accounts might want to store their balances somewhere else. They’ve got a sizeable fee for those with high net worths.
Types of Storage
They’ll let you store your coins however you’d see fit. Suppose you’d rather keep them in a cold wallet. If that happened to be the case, you’d pull them right off the exchange. Otherwise, they’ll keep them secure for you.
Insurance Coverage
Unless you’ve got a balance above $100 million, everything in your account will be covered.
Safety of Assets
256 Bit SSL Encryption:
All online assets are secured by standard, 250-bit, encryption. Thus, ensuring nobody has access to your coins.
Customer Service
You’ll love working with their customer service. Ask them anything, and you’ll get an answer.
Opening an Account
Choose whether you’d rather open an account online or over the phone. They’ve got options for both.
Why CoinIRA Reigns Supreme
Better products and pricing, CoinIRA makes a name for themselves in all the right ways. You’d be hard-pressed to find a better combo for the aspiring investor. Anyone who’d like to diversify their IRA funds ought to take a peek at them.
