Can You Have an IRA and a Crypto IRA?

Koinly simplifies cryptocurrency taxes for you by automating their processing. By linking wallets and exchanges together, it keeps track of both investments as well as any tax liabilities that might arise from them.

Bitcoin and crypto IRAs contain multiple moving parts, and fees can quickly add up – therefore investors must conduct thorough research prior to making any decisions about investments in these fields.


There isn’t an IRA specifically created for cryptocurrency, but you can still hold them within an existing account as part of an IRA. Since cryptocurrencies are property for tax purposes, contributions made annually can be deducted and taxes avoided upon withdrawal upon retirement.

Cryptocurrency requires special consideration, from security and custody requirements, which requires additional work from custodians, leading to higher fees than with traditional investments and significantly diminishing returns.

To reduce expenses, consider opening a cryptocurrency IRA dedicated to Bitcoin and its related technologies. Be sure to choose a secure custodian with secure storage services for your investments since cryptocurrencies can rapidly lose value over short periods. It’s also wise to stay current with legal developments affecting crypto investments – be sure to choose a provider with robust security measures and great customer service reputation when selecting your crypto IRA company.


Cryptocurrency is a digital form of money that utilizes blockchain technology for transactions and recording purposes. It can be used online to buy products and services as well as trade with other cryptocurrencies; there are currently over 6,700 different varieties. Cryptocurrencies are considered property by the IRS and taxed similarly, although any capital gains taxes would only apply if you withdraw them before retirement.

Many IRA investors use cryptocurrency as part of their self-directed investing strategies to diversify their retirement portfolios, but its valuation can be volatile; as such, IRA investors should only pursue this path after carefully considering all benefits and risks.

Concerns related to self-directed IRA statements include verification issues. It may be challenging to assess alternative investments accurately so it’s advisable to acquire independent valuations and research tax assessment records in order to verify what’s written on them.


Investing in cryptocurrency through an IRA is an exciting new trend and an innovative way to diversify your retirement account, but there are many fees associated with investing in crypto that could eat into returns significantly.

Cryptocurrency is a digital form of money that can be traded online. Transactions are recorded securely and transparently on a blockchain, while its decentralized nature makes it immune from government intervention or manipulation.

A crypto IRA allows you to invest in cryptocurrencies such as Bitcoin and Ethereum, similar to traditional IRAs in terms of contribution limits and tax benefits, with unique features like fast setup processes and robust security measures. Koinly provides excellent service with no setup fee for new accounts while other providers charge between 1%-2% each time purchases and sales occur.


An investment in a crypto IRA can significantly expand a portfolio and offer significant growth potential, but it’s essential to be aware of all associated risks before investing. Therefore, we strongly advise speaking to an experienced tax or financial professional before investing in cryptocurrency IRAs.

Investing in cryptocurrency can be difficult due to their volatility and low correlation with traditional assets, and their susceptibility to hacking. Luckily, reliable custodians will utilize stringent security protocols in order to protect your investment and avoid hackers.

Cryptocurrency IRAs have quickly become popular due to the same tax benefits associated with traditional IRAs. Contributions may be tax deductible in your jurisdiction and withdrawals made without incurring immediate taxes.

Fees associated with crypto IRAs tend to be higher than traditional ones; for instance, Swan Bitcoin charges 0.99% on buy and sell transactions and does not charge storage or monthly maintenance charges.

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