Coin Ira Review

The organization takes great pride in its ability to listen to its clients, comprehend what it is that people want, and provide complete transparency. In addition, Coin IRA has some of the most competitively low fees in the industry, is a user-friendly platform, and offers the highest level of security that is currently available for your assets.

Coin IRA partners with Equity Trust Company, which is widely regarded as one of the industry’s best self-directed IRA custodians. Equity Trust is a custodian that is approved by the IRS and has more than 45 years of experience. They currently have $34 billion in assets in their care. The combination of the two businesses provides the highest possible level of service in terms of both experience and trust.

Coin IRA is able to work with customers who already have retirement accounts such as IRAs and 401(k)s, as well as customers who do not yet have established retirement accounts of their own. They provide assistance to both newcomers and seasoned veterans in the realm of Bitcoin and other cryptocurrencies.

The company places a significant emphasis on assisting individual investors in customizing the safety measures that are applied to their accounts and the new assets, ensuring that their digital currency is protected to the highest possible degree. The Better Business Bureau has given Coin IRA an A+ rating, and customers have provided overwhelmingly positive feedback.

In the following section, you will find a variety of customer reviews as well as complaints regarding Coin IRA. You can look into these reports that were compiled by consumer rating agencies and reporting sites that have the highest levels of credibility and dependability. You will be able to conduct an in-depth investigation into the reviews as well as any customer complaints if you click on the links that have been provided.

The Procedure for Opening a Coin IRA

Coin IRA makes it as simple and hassle-free as possible for you to open an account for your cryptocurrency retirement savings. The process of creating an account will take you fewer than five minutes to complete. Coin IRA collaborates with Equity Trust Company, a third-party custodian based in Westlake, Ohio, to assist in setting up and managing your new IRA account in the most time and cost-effective manner possible.

After activating your account, you will have the option to either direct deposit funds into it or rollover existing funds using a rollover process. After reaching this point, Coin IRA will be able to handle your live cryptocurrency trades on their exchange platform, after which they will transfer your assets to the wallet that you specify.

Clients have the option of setting up either a “Traditional” Crypto IRA or a “Roth” Crypto IRA

IRA Traditional: This type of account is funded with dollars that have already been subject to taxation, and the funds are not subject to taxation until they are withdrawn.

The Roth IRA is a type of individual retirement account that is funded with money that has already been taxed and from which distributions (withdrawals) are exempt from taxation upon retirement.

Please take note that the IRS has mandated that the contribution limits for Traditional and Roth IRAs will be $6,000 ($7,000 for individuals who are age 50 or older) in the year 2022. If your taxable contribution for the year is less, the Traditional IRA contribution limit will apply.

Coin IRA helps its customers by providing information on additional Crypto IRA rules that have been imposed by the IRS. This information is intended to keep customers informed about this investment vehicle.

Age Requirement for Receiving Distributions – Minimum When taken out of a Traditional IRA before the age of 59 1/2, early distributions of pre-tax funds are subject to a tax penalty and must be reported as taxable income. These retirement accounts are subject to stringent regulations regarding qualified distributions, taxation, and penalties. Even though distributions are not required with a Roth IRA until the death of the account owner, these retirement accounts are subject to these regulations.

Required Minimum Distributions (RMDs) – On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) went into effect, which included a provision regarding required minimum distributions (RMDs). Important modifications to the rules governing Required Minimum Distributions were implemented by the Internal Revenue Service as a result of the SECURE Act (RMDs).

Traditional Individual Retirement Account (IRA) owners are required to take a distribution when they reach the age of 72 (or 70 12 if they reached that age before January 1, 2020). It is not until after the account holder has passed away that beneficiaries are required to receive distributions from a Roth IRA.

On its website, Coin IRA provides the following list of advantages that come with opening a Crypto IRA:

Return on Investment Bitcoin has experienced exponential development ever since it was first created. In a similar vein, many cryptocurrencies have the potential for astronomical increases in value.

A hedge against the volatility of the stock market and the decline of the value of the US dollar is provided by cryptocurrency investments.

Privacy and Discretion Despite the fact that cryptocurrency transactions are recorded on public blockchains, all that is left behind is a string of letters and numbers that cannot be linked back to their original owner. This ensures that users’ private information remains private.

Freedom From the Financial System – Cryptocurrency investors can have peace of mind about the security of their digital assets regardless of what occurs in the financial markets because cryptocurrencies are not tied to the US financial system.

Tax Advantages – Investing in cryptocurrencies through an individual retirement account (IRA) enables you to take advantage of the tax benefits provided by the IRS for distributions (withdrawals). In the case of a “Traditional” Crypto IRA, the account is capitalized with pre-tax dollars and does not become subject to taxation until the funds are withdrawn. With a “Roth” Crypto IRA, the account is funded with dollars that have already been subject to taxes, and distributions from the account are exempt from taxation.

Coin IRA Storage and Security

Coin IRA has stated that providing a secure platform is its top priority. They guarantee that your cryptocurrency transactions will be safe from theft or fraud, regardless of the size of the purchase you make, whether it be a dollar or a million dollars.

Transaction: This whole thing kicks off with the transaction. Coin IRA makes use of a recorded ID confirmation in their unique verification process for all transactions, which begins as soon as your funds become accessible after having been transferred. After that, your live trade will be executed while you are on the phone to approve all of the trade particulars with an experienced trader from the company. This method is utilized by the company to put an end to fraudulent anonymous Internet trades.

Wallet – The type of wallet is determined by the fact that the company offers IRA custody, non-IRA custody, and personal custody for clients’ assets. Coin IRA uses New Direction IRA as its preferred custodian. New Direction IRA stores both IRA custody accounts and non-IRA custody accounts. Because New Direction is one of the most well-known companies operating in the custodial services industry, its customers can have peace of mind knowing that their cryptocurrency is in safe hands with the company.

When it comes to personal custody, customers have a number of different choices available to them, depending on their individual preferences. KeepKey, Ledger, or Trezor are examples of hard wallets that may be utilized. In addition, some people may choose to use a software wallet. Using a wallet associated with one of the online exchanges is the third alternative. Coin IRA will walk you through all of these different storage options and assist you in making the decision that is best suited to your specific circumstances.

A public key is used to receive cryptocurrency, and a private key is used to send cryptocurrency. The company also works with keys to protect your digital assets. A key is, in its most fundamental form, a string of letters and numbers that is exclusive to a particular wallet. To protect the privacy and integrity of a wallet, keys must first be generated.

Hard wallets use backups that are self-encrypted in addition to paper backups (also known as “seeds”) that are created by the wallets themselves when they are first set up. Coin IRA requires that the custodian have control over the keys to the custody wallet, regardless of whether the wallet is held in an IRA or not.

A person who has personal custody of their wallet is the one who controls the private key to the wallet. You can ensure that no one else can access your cryptocurrency by storing the seeds for it in a location that is separate from the rest of your cryptocurrency.

No matter who your Crypto IRA provider is, protecting your digital assets should be a top priority. Coin IRA protects its customers’ cryptocurrency holdings with multiple layers of protection using a variety of different components. The following provides an overview of the company’s various safety procedures.

Coin IRA Products

Coin IRA provides its customers with access to a variety of cryptocurrencies that have been approved by the IRS.

  • Bitcoin
  • Ethereum
  • Ethereum Classic
  • Chainlink
  • Litecoin
  • Dash
  • Stellar Lumens
  • Zcash

You only need one login to access both your cash account and your individual retirement account (IRA) to trade and invest in cryptocurrencies. Using your cash account, you are able to make an unlimited number of purchases of Bitcoin, Ethereum, XRP, and Litecoin. After reaching the initial deposit threshold of $5,000, which applies to both IRAs and cash accounts, you are free to add any additional funds that you see fit.

The Benefits of a Coin IRA

  • The management team at CoinIRA has extensive and leading-edge industry experience.
  • They focus on educating their clients about investing while maintaining a low-pressure environment for them.
  • A variety of cryptocurrencies, such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and XRP, are all available to purchase through CoinIRA.
  • There are no fees for setup or maintenance.
  • Live assistance for paying customers.

The Drawbacks of a Coin IRA

Compared to some of its rivals, it has a more limited selection of cryptocurrencies to choose from.


Coin IRA acts as an intermediary between you and the digital wallets, exchanges, and IRA custodians that are required for an individual retirement account (IRA). Experts in cryptocurrency IRAs provide outstanding customer service in order to facilitate the creation of this bridge. Coin IRA gives you more options than many of its competitors do when it comes to personalizing the safety measures that are in place to guard your retirement assets.

Coin IRA Questions & Answers

Does a Coin IRA account adhere to the rules that govern the minimum distribution for other types of IRAs?

With a Coin IRA, there is no way to get around the legally mandated minimum distributions. The regulations that are applicable to all other types of IRAs must be followed by the accounts as well.

What factors influence the value of a coin individual retirement account?

As cryptocurrency becomes more widely used, there will be a subsequent increase in demand for it. The supply of many digital currencies is capped, meaning that prices should rise in response to rising demand. Coin IRA allows investors to take advantage of the potential gains the cryptocurrency has to offer.

How does purchasing coins through a Coin IRA compare to purchasing gold through an IRA?

A hedge against inflation and devalued standard currencies can be provided by individual retirement accounts (IRAs) invested in cryptocurrencies or gold. The values of digital currency and precious metals are subject to wild swings, but the value of cryptocurrency may be able to appreciate more rapidly as its use becomes more widespread.

I’m interested in opening a Coin IRA account; is a rollover an option?

Yes. The majority of investors choose to establish a rollover IRA in order to put money into a digital currency IRA. A specialist in Coin IRAs will supervise the rollover process to ensure that it goes off without a hitch and that you are not subject to any penalties from the IRS.

Does Coin IRA offer insurance coverage for the assets held in a cryptocurrency IRA?

Custodians provide insurance for digital assets. All individual retirement accounts (IRAs) are required by IRS regulations to be managed by a custodial firm. Coin IRA claims to be compatible with a number of different custodians; therefore, discuss your choices with your advisor. The next step is to talk about insurance with the person you’ve chosen to be the custodian.