Bitcoin IRA
| ISIN | 🆔 |
|---|---|
| Industry | Cryptocurrency |
| Founded 📆 | 2015 |
| Founder 👔 | |
| Headquarters 🏙️ | , Sherman Oaks, California , USA |
Area served 🗺️ | |
| Products 📟 | Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Litecoin (LTC), Stellar Lumens (XLM), Zcash (ZEC) |
| Members | |
Number of employees | |
| 🌐 Website | bitcoinira |
| 📇 Address | |
| 📞 telephone | |
Bitcoin IRA is an American company that combines various cryptocurrencies with Individual retirement accounts.
Contrary to some reports, no investment - including the Bitcoin IRA[1][2] - is approved by the IRS as an IRA investment. The ability to buy Bitcoin in an IRA is supported, but not directly endorsed, through a 2014 IRS ruling[3] that clarified the tax treatment for Bitcoins as non-currency personal property which is similar to stocks, and presumably compatible with IRA's.
History[edit]
Bitcoin IRA is a privately held company founded in 2015 in Sherman Oaks, California. At first, the company solely offered Bitcoin as an investment option for IRA retirement accounts.[citation needed]
In an interview with CNBC, Chief Operations Officer, Chris Kline stated that in its first year, the company averaged a million dollars of monthly inflows.[4]
Late 2018, the company launched Self-Trader which enables customers to buy, sell and swap cryptocurrencies directly inside their retirement accounts, 24 hours a day, 7 days a week. Multiple coins can be purchased at once to provide an easier experience for customers.[5]
Security[edit]
Bitcoin IRA uses only BitGo as its cryptocurrency wallet and security provider for cryptocurrency retirement assets.[6] Bitcoin IRA then requires government issued identification and voice verification to transfer funds.[7][8]
References[edit]
- ↑ "The IRS NEVER Approves IRA Investments". SelfDirected.org. SelfDirected.org. Retrieved 9 October 2017.
- ↑ "An Important Message for Taxpayers with IRAs The IRS Does Not Approve IRA Investments" (PDF). IRS.gov. Internal Revenue Service. Retrieved 9 October 2017.
- ↑ "IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply". IRS.gov. Internal Revenue Service. Retrieved 9 October 2017.
- ↑ "Video: Bitcoin IRA Featured on CNBC • Buy Bitcoin IRA - Invest in Bitcoin - Bitcoin IRA". 26 July 2017. Retrieved 11 September 2017.
- ↑ "We Need to Talk About Bitcoin". Retrieved 11 September 2017.
- ↑ "Add Bitcoin to your Retirement – BitGo for Business". 6 February 2017. Retrieved 11 September 2017.
- ↑ Zweig, Jason (13 January 2017). "Should You Have Bitcoin in an IRA?". Retrieved 11 September 2017 – via www.wsj.com.
- ↑ Bajpai, Prableen (9 September 2016). "Looking to invest in bitcoins? You should check this out!". Retrieved 11 September 2017.
External links[edit]
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