What retirement accounts are eligible for funding a Cryptocurrency IRA? Are there penalties?
You can fund your Cryptocurrency IRA tax-free by transferring a portion of your IRA, Roth IRA, SEP IRA, or SIMPLE IRA. Funds can also be rolled over tax-free from most 401ks, 403bs, 457bs, Thrift Savings Plans and TIAA CREF plans. Our IRA team can confirm account eligibility to ensure penalty-free and tax-free status.
Is there a minimum investment?
The minimum investment is $10,000. The investment can be split any way among the coins offered or to purchase a single coin.
What is the transaction fee? Are there any discounts?
BlockMint charges a fee of 15% to purchase your cryptocurrency and provides discounts based on volume.
What are the fees for maintaining my account?
Equity Trust, the IRS approved Custodian for your account, charges a 2.5% purchase transaction fee and a 1.0% sell transaction fee. To securely store and maintain your Cryptocurrency IRA, there is an annual maintenance fee of $195, and a monthly storage fee of .05% on the Cryptocurrency IRA balance.
What coins are available?
Currently, you may invest in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), BTC Cash (BCH), or ETH Classic (ETC). More options will be available later. Please check website for more current offerings.
How do I liquidate my IRA?
Simply call your BlockMint Account Executive to liquidate your assets. We’ll handle everything right over the phone.
Can I spend the digital currencies from my new IRA account?
No. As with a traditional IRA, you may not personally control or use the assets within your Cryptocurrency IRA until you choose to take a taxable distribution.
Can I use cryptocurrencies I already own to fund my IRA account?
The funds used to invest in cryptocurrencies must originate from within your existing IRA or other eligible retirement account.