What Is a Bitcoin Exchange
A cryptocurrency exchange is an online marketplace where investors can buy and sell digital assets (similar to a stock exchange but with digital coins). Of course, one person can send Bitcoin to another directly, but to buy and sell such assets on the market, an investors needs to use an exchange. Crypto exchanges allow transactions from one digital currency to another, as well as to or from different fiat currencies.
Agencies such as the SEC and FINRA are increasingly regulating crypto exchanges. Some exchanges have even voluntarily sought out fully regulated status to adopt a policy of transparency that sets them apart in this nascent industry.
Exchanges charge fees every time a transaction is made. If you’re working with a crypto custodian to buy Bitcoin in your IRA, for instance, there will still be a fee from the exchange. Keep fee structures in mind when choosing a Digital IRA services company.
Buying & Selling Digital Currency for Your IRA
Acquisitions and sales of BitIRA customer digital currency investments are facilitated through one of our partner exchanges. Here are a few reasons why BitIRA has selected Galaxy Digital as our exclusive exchange, and why it stands apart as one of today’s leading digital asset managers.
Galaxy Digital was founded by crypto legend Mike Novogratz in 2018. Since then, they’ve grown to facilitate billions in monthly digital currency trades. Although the exchange typically only accepts clients with a minimum of several million dollars, thanks to our partnership you’ll enjoy the same level of service as multimillionaires on every trade, every day.
Our Exchange Benefits
- Unrivaled Speed – Quotes are stable and transactions are lightning-fast, executed instantly and settled on the next business day.
- Established Experience – Since 2018, Galaxy has facilitated countless billions of dollars in transactions, backed by a proven computer security team.
- Regulated – Galaxy has been a publicly traded company since 2018, subject to Canadian regulatory reporting rules and more than two dozen U.S. and international regulators, including the SEC, FINRA, and the CFTC. Galaxy is an SEC-registered broker-dealer, and a member firm of FINRA, the National Futures Association and the Securities Investor Protection Corporation.
- Insured – Your crypto assets are insured for up to $100 million, end-to-end, throughout each transaction.
Galaxy Digital – BitIRA’s Exchange Partner
At BitIRA, we only work with the best because providing our customers with reliable, secure investment options for their cryptocurrency portfolio is our priority. On the exchange side, we’ve partnered with Galaxy Digital, a trusted industry leader and publicly-traded company. Galaxy has been in operation since 2018 and was built with an expertise in web3 technology. As one of the leading liquidity providers in the world, Galaxy has nearly 1,000 institutional trading counterparties. Galaxy Digital is highly vetted and institutes strict compliance rules, making it deserving of our trust (and yours as well).