Friend.tech has launched version 2 of its blockchain-based social platform with new features and anticipation for a 100% airdrop of its FRIEND token.

The SPX index is down 1.6%, driven by a rise in bond yields following higher-than-expected employment cost data, raising concerns that the Fed might maintain higher interest rates. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 6.02% and 6.79%, respectively in the past 24 hours.

Today’s outperformer is FRONT, which jumped 4.6% after Frontier Wallet enabled secure cross-chain asset swaps to Cronos Chain with XY Finance.

Frontier (FRONT), founded in 2019, is a multi-chain DeFi and NFT wallet that supports over 65 blockchains and enables secure trading, staking, and asset management through a single interface. It integrates with top wallets via WalletConnect and simplifies the user experience by minimizing the need for multiple extensions and seed phrases. Frontier Wallet now 

 cross-chain asset swaps to Cronos Chain via XY Finance, enabling secure bridging to $CRO from over 20 blockchains. Users can also participate in the Spring Odyssey event, promising enhanced on-chain experiences with Frontier.

Check Out the Latest Prices, Charts, and Data of 

 for Bitcoin’s Lightning Network in partnership with Lightspark, offering users instant, low-cost Bitcoin transactions as an alternative to the slower, more expensive traditional Bitcoin network. This integration supports Coinbase's goal of creating a global payments system with transactions costing just one cent and processing within one second. The Lightning Network, operational since 2017, significantly reduces transaction costs compared to traditional finance methods, such as credit cards and wire transfers. This move not only enhances the utility of Bitcoin for Coinbase's customers but also advances the broader crypto ecosystem by supporting faster, more affordable, and more secure global payments.

After the debut of Hong Kong's first spot Bitcoin ETFs, Bitcoin's price fell below $61,000, with concerns it could drop further below $60,000. The launch triggered a "sell-the-news" reaction, contributing to a downward trend and negative net flows in U.S. Bitcoin ETFs. This situation poses risks but may also present a buying opportunity for long-term investors.

 version 2 of its blockchain-based social platform with new features and anticipation for a 100% airdrop of its FRIEND token. The company has already taken a snapshot for the airdrop, which may occur as soon as next week when points balances become blockchain-based. Friend.tech, which debuted in August 2023 on Base, a Coinbase-incubated Ethereum Layer 2, had initially seen significant activity but later experienced a decline. The latest update introduces the Money Club for managing community treasuries and minting tradable collectibles, a new points system for the airdrop, and custom engagement metrics. Additionally, version 2 allows users to customize their chat spaces. The platform currently has $34.4 million in total value locked, down from its peak of $52 million.

Beginner

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Friend.tech Launches Version 2 and Announces Airdrop

Learn how you can import your mnemonic phrase for Bybit Wallet with our comprehensive article.

For new users, it's recommended that they familiarize themselves with the wallet's basic operations, understand its features and characteristics, and then start using and importing mnemonic phrases.

If you haven't installed Bybit Wallet yet, please click 

After installation, you can pin the Bybit Wallet to the toolbar through the following steps:

 icon in the upper right corner of your browser, and the Bybit Wallet will pop up the initialization interface.

Before using your Bybit Wallet, please set a password first. This password is used to unlock your wallet and encrypt your key information. The local password will not be uploaded to our server, so please keep it carefully. Once lost, the password cannot be retrieved.

After entering the password, please check the 

If you are already using Bybit Wallet, then you only need one step to import your mnemonic phrase.

Please click on the wallet address to enter the wallet management page:

Next, enter the device password you created for the wallet and click 

After setting the local password, please select 

If your mnemonic phrase length is 12, you can click the 

 input box and paste it directly. Of course, you can also manually enter them one by one.

In addition, we also support mnemonic phrases of different lengths, which are 12-, 15-, 18-, 21-, and 24-word mnemonic phrases, all of which can be imported into Bybit Wallet. Please choose the one that suits you.

 button to import. Bybit Wallet will search for the wallet address that has assets under the mnemonic phrase and automatically import it into Bybit Wallet.

At this point, the mnemonic phrase has been successfully imported into Bybit Wallet.

In the import wallet interface, you can also choose to import the wallet using your private key. Just click 

, then enter your private key in the input box, and then click 

Now, you can start using Bybit Wallet to your heart's content. Remember to update your wallet regularly to get the latest features and optimizations. We are always working hard to improve and enhance the user experience of Bybit Wallet. If you have any suggestions or feedback, feel free to let us know any time.

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How to Import Your Mnemonic Phrase for Bybit Wallet

Today’s outperformer is ENA, which jumped 7.3% after Ethena's synthetic dollar launched on Swell L2 with rewards and airdrops in pre-launch phase.

The SPX index is up 0.32%, the Federal Reserve is expected to maintain borrowing costs, but investor focus will be on any changes in rhetoric after recent high inflation data. Market expectations for rate cuts this year have decreased, with only one 25 basis point reduction now anticipated, compared to three a month ago. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 1.23% and 4.01%, respectively in the past 24 hours.

Ethena Labs (ENA), founded in 2023, introduces USDe, a synthetic dollar on Ethereum, offering a decentralized alternative to traditional stablecoins. It features the 'Internet Bond' for global savings, using delta-hedging to manage volatility and aiming to transform the financial ecosystem by enhancing Ethereum's utility. Recently, $USDe is now available on 

. By depositing $USDe during the Pre-Launch phase, users can earn Sats, qualify for a Season 2 airdrop upon the L2 launch, receive additional airdrops from projects on Swell L2, and share 1 million EigenLayer Points. For more details, visit the Swell Network website.

Omnity has launched a new integration that allows for the fee-free trading of Runes tokens without impacting the Bitcoin network. This 

 utilizes the Internet Computer Protocol's chain fusion technology, enabling interactions with the Bitcoin blockchain and other networks without the need for wrapped tokens or off-chain relayers. The initiative, which distinguishes Omnity from other Bitcoin interoperability solutions, aims to address the scalability challenges of the Bitcoin network, particularly in light of increased activity from new technologies and Bitcoin ETFs. On April 20, the Bitcoin network hit a record high of over 926,000 transactions, with Runes tokens constituting a significant portion of this traffic.

Bernstein analysts believe the recent decline in Bitcoin ETF flows is temporary and predict a bullish future with a $150,000 BTC price target by 2025. They remain optimistic about Bitcoin's integration into financial platforms and its long-term acceptance. Additionally, they suggest that a denial of an Ether ETF could benefit Ether and Ethereum Layer 2 tokens. The firm expects the crypto market cap to triple to $7.5 trillion within two years.

 plans to distribute EIGEN tokens via airdrop from May 10 to September 7, targeting users who participated in Ethereum restaking on the EigenLayer protocol. The initial distribution, termed a "stakedrop," will allocate 5% of the total token supply based on activities as of March 15. The airdrop is divided into two phases, with 90% of tokens going to initially eligible users and the remaining 10% to those who interacted with EigenLayer in more complex ways. However, the airdrop excludes users from several countries, including the US and Canada, and implements strict measures to block VPN and proxy users. Future airdrops will reserve an additional 15% of the token supply. The EIGEN token, designed to address specific protocol faults, will initially be non-transferable and non-forkable to support the protocol's growth, with full functionality enabled later.

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Ethena’s USDe Launches on Swell’s Layer 2 Network

cat in a dogs world (MEW) is a no-utility, cat-themed meme coin built on Solana challenging the dominance of dog-themed coins in the crypto space.

The world of meme coins is wild and filled with all types of animals, such as dogs, cats, penguins and frogs. In 2024, the meme coin craze is back in full swing, evidenced by the astronomical gains made by top crypto meme coins like 

During this meme coin season, Solana-based meme coins have stolen the show with dog-themed tokens dominating the space. However, a recent cat-themed meme coin is seeking to challenge this dog-themed coin narrative.

cat in a dogs world (MEW) stormed into the meme coin space on Mar 27, 2024, and has been causing a stir with its remarkable price surge. Upon listing, MEW’s price soared by 385% to reach an ATH of $0.0097 within four days.

Let’s explore the MEW coin and find out why it’s one to watch in the thriving 

cat in a dogs world is a no-utility, cat-themed meme coin built on Solana (

It was launched on Mar 27, 2024, to provide a cat-themed token that would be a worthy competitor to the dog-themed meme coins dominating the space.

Barely 96 hours into the market, MEW had pumped by 385% to hit a price of $0.0097, during which its market capitalization reached around $848 million, a figure reserved for more established projects in the market such as 

MEW’s market cap has since shrunk to a more conservative figure of $357 million, with a 24-hour trading volume of $59 million on Apr 30, 2024. It’s currently trading around $0.004.

cat in a dogs world has a total/max supply of 88,888,888,888 tokens, of which 90% were burned as 

, while the remaining 10% were allocated as an 

MEW’s formidable success could be attributed to its tokenomics strategy, as burning most of the LP tokens creates a stable price floor and cushions the token against market volatility. The airdrop is also an excellent way to attract attention to the project and create brand awareness, further solidifying MEW's presence on Solana and in the cryptocurrency market as a whole.

Deliberately airdropping and burning the LP tokens enhances the value of the MEW token, while giving it a competitive advantage in the cutthroat world of meme coins.

Cat meme coins have been generating a lot of hype lately. Let's look at a brief comparison between MEW and two other cat-themed coins in the meme coin space.

 (CATS) have caused a stir in the meme coin space. Not only are they both trying to change the dog-eat-dog landscape, but they’ve also approached the market in an innovative way.

That said, unlike MEW, CATS has various utilities in its ecosystem, such as 

. Catcoin’s ecosystem is also filled with a variety of products, such as the Caring Cats charity and a non-fungible token (

) collection. While the two tokens entered the meme coin space at different times, they’ve both managed to draw attention to feline-themed meme coins.

 (OMNI), caused a stir when its price quickly soared after the coin’s debut in December 2023. However, unlike MEW, which is only available within the Solana ecosystem, Omnicat leverages omnichain technology and is available on seven blockchains, including 

While it may be a meme coin, Omnicat leverages 

’s blockchain in order to advance its mission of interoperability in the crypto space. Both MEW and Omnicat have adopted innovative approaches that seem to have paid off despite their meme coin narratives.

You can buy MEW Cat Coin on Bybit as a Spot pair (MEW/USDT) or a USDT perpetual contract (MEWUSDT). To celebrate this Spot listing, Bybit is holding two Token Splash events, 

, with 40 million MEW tokens up for grabs.

, is exclusively for new users, with a prize pool of 25 million MEW. By completing Identity Verification and accumulating a deposit volume of 25,000 MEW (worth 100 USDT), or depositing 100 USDT and trading 100 USDT worth of MEW tokens via your first trade with Bybit, you’ll have a chance to receive 5,000 MEW. Rewards are available on a first-come, first-served basis to the first 5,000 new users.

, has 15 million MEW tokens up for grabs. Simply trade at least 1,000 USDT worth of MEW tokens on Bybit’s Spot market to earn a share of the prize pool. 

Rewards will be capped at 200,000 MEW (around 800 USDT) per user.

While it’s primarily been a dog-eat-dog world in the meme coin space, tokens such as MEW are effectively diluting this narrative. Being one of the top-ranking Solana meme coins, the MEW cat-themed coin has followed others in the ecosystem by skyrocketing in price within a short time of entering the market, flooding Solana with much-needed liquidity.

Despite its slowed momentum — generally attributed to the currently fluctuating price of Bitcoin (

) — MEW remains a Solana cat-themed meme coin to watch when the market starts rallying again.

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cat in a dogs world (MEW): Pouncing on the Cat Meme Coin Craze

Bitcoin

Investing

When choosing the best Bitcoin IRA, there are two main factors to consider: your knowledge of crypto, and the features you value most in a retirement product. 

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Ensuring financial security in retirement is an aspiration for just about any individual. At the same time, achieving security in your silver years takes careful investment planning and choices. Over the last few years, cryptocurrency and 

 (BTC) have begun playing a key role in retirement planning schemes. A number of Bitcoin-based individual retirement accounts (IRAs) have arrived on the market, broadening options for retirement-focused investors.

The first crypto IRAs appeared in 2016, offering cryptocurrency as a legitimate asset for investment. While the leading 

 on the market feature a wide variety of crypto coins on offer, Bitcoin remains by far the most popular option. First, compared to 

, Bitcoin benefits from its leadership position and higher levels of trust enjoyed in the market. Its popularity surged notably after the Securities and Exchange Commission (SEC) granted 

 in early January 2024. Secondly, it offers liquidity levels unmatched by other leading cryptos. Finally, Bitcoin’s volatility is known to be at least somewhat lower compared to Ethereum (ETH) and other large-cap crypto coins.

Given all these factors, it’s no wonder that Bitcoin remains vastly more popular for IRA products than any other cryptocurrency and that, in nearly all cases, crypto IRA providers have a Bitcoin IRA on offer.

In this review, we’re taking a closer look at the best Bitcoin IRA products in 2024 — leaders in their own categories that can aid you in your retirement planning goals.

IRA investment opportunities based on Bitcoin are now a fast-growing area within the financial planning industry. By 2024, few serious retirement investors would dismiss Bitcoin, at least as a potential option, for their IRAs. High growth potential, diversification benefits and, under some circumstances, capital gains tax exemptions — all of these advantages come with including Bitcoin in your IRA.

So, which Bitcoin IRAs on the market suit your retirement investment goals? The answer depends upon what you specifically value in an investment product, and your level of expertise with crypto, among other factors.

It should also be noted that most of the leading Bitcoin IRA companies offer both standard and Roth IRAs. These two types of IRA products differ somewhat in the way your contributions and withdrawals are treated in terms of taxation. Standard IRAs allow you to make tax-deductible contributions, while your retirement withdrawals are taxable. In contrast, Roth IRA contributions aren’t tax-deductible as they are created with after-tax dollars, but retirement withdrawals are tax-free.

With these considerations in mind, we’ve decided to look at a number of critical areas for investors when evaluating the best Bitcoin IRA products — security, fees, investor experience, self-directed investment opportunities and beginner-friendly features.

When it comes to the best overall Bitcoin IRA product, few providers on the market can match the aptly named 

™ — America’s first cryptocurrency-focused retirement investment company. Its crypto IRA platform was launched in 2016, and over the years has built upon its first-mover advantage in the market. It’s by far the most popular Bitcoin IRA product chosen by retirement investors.

While the other providers we cover below have particular strengths in specific areas, Bitcoin IRA shines thanks to its optimal balance of security, fees, time in the market, insurance options, ease of use and trading flexibility.

Bitcoin IRA offers a flexible trading platform that’s open 24/7. It also features generous insurance coverage of up to $700 million — the highest limit among the leading Bitcoin IRA products. In addition, the minimum investment requirement of $3,000 at Bitcoin IRA is also relatively modest. For an established provider of this scale, that’s a highly reasonable requirement.

Bitcoin IRA’s security features are also top-notch. The company has partnered with BitGo, the world’s leading Bitcoin transaction processor, to hold client funds in secure 

 using military-grade, multi-key protection features.

Bitcoin IRA’s transaction fees aren’t the lowest in the market, although they’re still reasonable for the most trusted crypto IRA provider on the block. The standard fee applicable per transaction is 2%, and there’s a one-time initial deposit fee of between 0.99% and 4.99%, depending upon the amount invested.

Bitcoin IRAs are an emerging area, so for many investors these products are still a novelty. That's why a product in this niche must be as beginner-friendly as possible. Among Bitcoin IRA providers, 

 has caught our eye with its simplified platform and fee structure — precisely what a newbie to the Bitcoin IRA field needs

iTrust offers a simple flat fee of 1% on all transactions. No other charges are involved — no deposit fees, no monthly account-keeping fees or any other fee varieties other providers like to pepper their products with. You just pay 1% on any transaction without having to worry about incurring any hidden charges. For beginners, this is an ideal setup.

The only other fee that Bitcoin IRA investors might incur at iTrust is the $75 charge to convert a standard IRA to a Roth IRA.

iTrust’s minimum investment requirement is also very low — only $1,000. For many beginning investors, the ability to start out with as little capital commitment as possible is critical. In that respect, iTrust’s modest requirement of just $1,000 is a great beginner-friendly feature.

The security of your investment funds is a crucial consideration when choosing a Bitcoin IRA. Low fees and flexibility of trading won’t be of much help if your Bitcoin holdings are compromised due to a 

. To be fair to the companies in our review, they all employ multiple measures to protect client funds.

However, among the leading Bitcoin IRA providers, one stands out with a particular focus on security — 

 is among the older providers in the Bitcoin IRA field. Established in 2017, this company has taken client funds’ security to a completely new level.

BitIRA uses multiple measures to ensure that even the most persistent and well-resourced Bitcoin hackers won’t be able to get anywhere close to your digital retirement funds. First, BitIRA has partnered with Ledger Enterprise, one of the world’s leading digital asset storage specialists, to implement multi-signature authorization for crypto asset storage and access. The keys for access to clients’ Bitcoin are held on multiple devices in a decentralized way to ensure that an individual point of failure doesn’t jeopardize the overall security of your funds.

Secondly, BitIRA implements so-called “end-to-end” protection for client funds. With end-to-end insurance, your investment is protected at all stages and in all states of the funds’ lifecycle, be it purchase, storage or any point of transfer.

Finally, BitIRA fund storage practices are regularly audited by third parties to ensure adherence to SOC 2 Type 2 certification standards. Companies serious about security and protection choose to implement SOC 2 Type 2 certification, a set of rigorous practices and internal controls to ensure the security, integrity and confidentiality of data or assets.

With a fee of just 0.5% per trade, California-based 

 offers the lowest fees among Bitcoin IRA providers — and this crypto IRA company doesn’t charge account-keeping or deposit fees, either. If you’re after the lowest possible transaction fees, look no further than BlockMint.

As an alternative to the 0.5% fee, the company also offers an entirely commission-free account for a yearly fixed charge of $499. Thus, if you prefer to make frequent trades, you might choose this option to further minimize costs.

BlockMint's Bitcoin IRA also features generous $600 million insurance protection, along with military-grade cold storage of your funds. When you open an account, you’re assigned a personal agent to assist with your inquiries — always a great feature for Bitcoin IRA products, given their relatively novel nature.

Best Investor Experience — Equity Trust

 is one of the oldest providers of IRA, Roth IRA and other investment products to individuals and businesses. Over the last few years, this established retirement investment company has developed comprehensive crypto and Bitcoin IRA products, leveraging its multi-decade experience.

Whether you’re after a Bitcoin-based IRA or Roth IRA, Equity Trust has unmatched variety, thanks to its integrated platform with multiple crypto IRA providers. By buying a Bitcoin IRA with Equity Trust, you’ll get to enjoy both the robust security of the Equity Trust platform and the expertise and service of its providers.

Thanks to the company’s deep expertise in the retirement investment field and a wide variety of accounts and assets on offer, you’re given an unprecedented choice of various investment options. In addition to Bitcoin and crypto, Equity Trust offers investments in mutual funds and stocks, as well as alternative investments in the areas of precious metals, real estate, private equity and more. This provider truly stands out in terms of the investor experience, from choice of investment options to the guidance you receive throughout the whole onboarding process.

Equity Trust isn’t among the cheapest Bitcoin IRA companies. You’ll have to pay a certain premium for the privilege of having an excellent investor experience. Annual fees on your Bitcoin IRA or Roth IRA product will depend upon the overall size of the portfolio you maintain with the company. The lowest yearly fee is $225, for accounts under $15,000. This cost goes up on a sliding scale, with the highest fee set at $2,250 for accounts above $2 million. There’s also a one-time account opening fee of $50.

Best for Self-Directed Investment — Broad Financial

Traditional IRA and Roth IRA accounts have typically been restricted to investments in tightly regulated assets — usually stocks, bonds, mutual funds and 

. Self-directed IRAs (SDIRAs) allow investors to access alternative investment assets, including cryptocurrencies. In that respect, all Bitcoin IRA and Roth IRA products are classified as self-directed accounts. However, the degree of freedom you get in terms of structuring your investments in an SDIRA account varies with different providers. 

 in terms of both the freedom and flexibility of your self-directed investments under a Bitcoin IRA or Roth IRA. Broad Financial's Bitcoin IRA Trust gives you complete freedom in terms of allocating and mixing different asset classes. In addition to Bitcoin and other cryptocurrencies, you can include a wide range of other assets, including real estate, private equity, private lending options like mortgages, and even precious metals.

Unlike most other providers, Broad Financial gives you the ability to conduct transactions using a checkbook linked to your IRA or Roth IRA account. If the freedom to make your own choices under a Bitcoin IRA is important to your investment planning, Broad Financial is the optimal provider out of the main options available on the market.

The company doesn't charge transaction fees for its IRA or Roth IRA accounts. However, a $1,195 initial account setup fee and a $420 annual maintenance fee are involved.

The ultimate choice for your preferred Bitcoin IRA or Roth IRA will depend upon what features and characteristics you value most in a retirement product. If you’re a beginner making initial steps in the world of Bitcoin and retirement investment, we suggest iTrustCapital’s user-friendly platform that features a simple, straightforward fee structure, no hidden charges, and a modest initial investment of just $1,000.

If safeguarding your investment is your top priority, BitIRA’s comprehensive protection mechanism is for you. On the other hand, for those interested in the lowest fees possible, it’s hard to ignore BlockMint’s 0.5% transaction fee with no other charges involved.

If an optimal investor experience and diverse choices are your priorities, the Equity Trust platform is worth considering, while for investors who prioritize freedom in directing their investments and appreciate the convenience of a checkbook option, Broad Financial is the top pick.

Finally, Bitcoin IRA is a great choice for those without a specific preference who seek a well-rounded product with balanced features across all categories.

Bitcoin IRAs: Frequently Asked Questions (FAQs)

Bitcoin IRAs are a form of self-directed IRA retirement account that allows you to invest in either Bitcoin or a mix of Bitcoin and other assets. Depending upon the rules applicable to the account, you might be able to hold only Bitcoin, or a combination of Bitcoin and other cryptocurrencies under your IRA. Moreover, some providers allow you to mix different classes of alternative investments under the same IRA or Roth IRA. Using these products, you can combine Bitcoin investments with other asset types like real estate, private equity, precious metals and more.

IRA accounts, including Bitcoin IRAs, allow you to make tax-deductible contributions to the limit of $7,000 per year if you’re under 50 years old, or $8,000 if you’re 50 or older. When you reach the age of 59½, you can withdraw from your IRA account without any restrictions. Any withdrawals you make are taxable.

Roth IRAs work differently from standard IRAs. Contributions to Roth IRA accounts, including Bitcoin Roth IRAs, aren't tax-deductible, but withdrawals from these accounts in retirement are tax-free.

Bitcoin IRAs offer several advantages over IRAs made up of traditional asset classes like stocks, bonds or mutual funds. You might consider opening a Bitcoin IRA, based on the following factors.

1. A Bitcoin IRA might generate a higher rate of return than a traditional IRA. While Bitcoin is known for its volatility, it's also an asset with considerably 

 than the stock market or other traditional investment options. The chart below shows the growth rates for Bitcoin and the Vanguard 500 Index Fund ETF (VOO), a leading fund product that closely tracks the stock market's primary index, the S&P 500. Growth rates shown are for the last five years. The results clearly indicate that in four out of the five years, Bitcoin has beaten the stock market in terms of returns, typically by a wide margin.

2. A Bitcoin IRA can be an excellent way to diversify your retirement portfolio. Many individuals have an overreliance on stocks, mutual funds and ETFs in their portfolios. Diversifying such portfolios with Bitcoin can be a great way to protect against stock market shocks, as Bitcoin is typically uncorrelated or weakly correlated with traditional financial asset classes. That being said, with the recent SEC approval of Bitcoin Spot ETFs in early January 2023, 

 can be another great alternative to invest in.

3. Using a Bitcoin Roth IRA can help you avoid capital gains taxes. If you sell Bitcoin and realize a gain, you’re normally liable to pay the capital gains tax. However, since any investment in a Roth IRA is made with after-tax dollars, your capital gain, in this case, is free from taxes.

Yes. Bitcoin IRAs are a totally legitimate product for retirement investment. While most IRA and Roth IRA providers on the market focus on traditional asset classes, some companies, including those we’ve included in our review above, offer Bitcoin-based IRA and Roth IRA accounts.

Any Bitcoin or crypto IRA or Roth IRA on the market falls under the definition of a self-directed account. Only some providers specialize in self-directed IRA products. The choice among these providers is much more limited as compared to that for traditional IRA companies. When evaluating a Bitcoin IRA provider, make sure that they’re authorized to offer self-directed investment options.

It’s safe to invest in a Bitcoin IRA If you choose a reputable provider with a solid track record on the market. Additionally, it's crucial to thoroughly research the practices and standards the provider uses to store your Bitcoin funds. Make sure that the company you choose employs high-grade cryptographic protection methods and utilizes safe cold storage options. Insurance limits and terms are also among the critical bits of information to become acquainted with.

What Is the Minimum Deposit for a Bitcoin IRA?

Minimum deposit amounts vary among different Bitcoin IRA providers. Typically, initial amounts at reputable providers range from about $1,000 to several thousand dollars. While some smaller providers may offer very low minimum deposits, perhaps as low as $10 to $50, some of these companies might have additional fees to offset the meager initial deposit amounts. Therefore, it's imperative that you study the complete fee schedule when selecting a Bitcoin IRA product. Low deposit requirements should be only one element in the overall selection process.

The fundamental taxation principles applicable to Bitcoin IRAs and Roth IRAs are similar to their traditional counterparts. Bitcoin IRAs can be funded with tax-deductible dollars, but your withdrawals will be taxed. In contrast, Bitcoin Roth IRAs are funded with after-tax dollars, making its withdrawals tax-free.

Bitcoin Roth IRAs can be a great investment vehicle to avoid the capital gains tax applicable to the sale of cryptocurrency. The United States Internal Revenue Service (IRS) has traditionally applied the 

 to any Bitcoin sale from which a gain is realized. However, any such sale under a Roth IRA account would be free from capital gains taxation, because Roth IRAs are funded with after-tax dollars. This specific benefit doesn’t apply to standard Bitcoin IRAs, as these accounts’ contributions are based on pre-tax funds.

Best Bitcoin IRA Companies to Consider in 2024

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