At first glance, getting started with a Digital IRA can seem complicated. But don’t let the process overwhelm you.
And if you already have a retirement account…
Don’t worry. You can actually keep all your existing retirement funds inside your Digital IRA with an account rollover – with zero penalties or distributions in nearly all cases. You can also open a new Digital IRA and keep your existing account separate, if you prefer.
We’ll explain exactly how to set up your Digital IRA below.
But before that, keep in mind that your Digital Currency Specialist, with the support of BitIRA’s in-house IRA Department, can guide you each step of the way, including:
- Completing Paperwork
- Overseeing Rollovers
- Explaining Asset Options
- Ensuring Security
- Assisting with Contributions & Distributions
- Offering Ongoing Support
Our team has years of experience with placing alternative assets into IRAs, so we can ensure as smooth a process as possible.
With the confidence of having BitIRA as your personal partner, here’s the simple process for starting your Digital IRA…
Create Your Digital IRA Account
Digital IRAs are a type of “self-directed” retirement account. That means you accept full control over the investments in your account, but a qualified custodian must still legally handle your account’s administration.
BitIRA has partnered with Equity Trust Company and Preferred Trust Company, two leading custodians of self-directed IRAs, to manage your account and prepare all the necessary documentation for this crucial first step.
After you provide your Digital Currency Specialist with a few key pieces of documentation, the team at BitIRA will complete the required paperwork and administrative tasks to open your new account. Beyond your input on some questions, plus your approval and signature, you hardly have to do any work. Most new accounts are ready within a few weeks or less.
Initiate Funding & Asset Rollovers
With your new account set up, it’s ready to accept funding and receive asset rollovers from your existing accounts. Your Digital Currency Specialist, in coordination with our IRA Department, will work with Equity Trust and your old custodian to ensure that your initial funding and asset transfers move over seamlessly, while watching carefully to prevent penalties and hidden costs.
Connect Wallet & Exchange
Digital currencies for your new IRA account are bought and sold on an exchange, and in storage the rest of the time. BitIRA has partnered with Genesis as our partner trading exchange.
Additionally, your Digital Currency Specialist will configure access to our corporate account with our partner trading exchange Genesis, which has provided high-speed trades, stable quotes, and next-business-day settlement since 2013. You’ll enjoy the same service level as heavyweight clients with $10 million+ in assets on every trade, every day.
Here’s why BitIRA is “The World’s Most Secure Digital Currency IRA.” Your retirement assets are not only insured while in cold storage, but also throughout the transaction (that’s why we call it “end-to-end insurance”). As you might expect from the first fully-insured cold storage solution, policies for $100 million coverage are in place across a reputable panel of London insurance companies with S&P ratings of A or better. There’s simply no safer, more secure way to trade and store cryptocurrencies.
Begin Trading & Investing
The setup process is complete! Now you’re free to start purchasing digital currencies for placement in your IRA. You can view your account holdings 24/7 with our wallet lookup tool, and your Digital Currency Specialist will remain available to execute orders within your account.
Are you ready to take the first step toward starting your Digital IRA? Contact BitIRA to learn how you can start leveraging digital currencies inside your IRA today. One of our Digital Currency Specialists will go over all the details, answer any questions, and explain the opportunities currently available.