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February 20, 2024

How to Buy Bitcoin with a Self-Directed IRA

Key Points 

  • You can invest in Bitcoin with a Self-Directed IRA, also known as a Crypto IRA.
  • With Bitcoin investments, you can diversify your retirement portfolio, enjoy greater returns, hedge against inflation, and more.
  • Broad Financial makes it easy to open a Self-Directed IRA with checkbook control so you can invest in Bitcoin and other cryptocurrencies.
glowing bitcoin floating for investing in cryptocurrency with a Self-Directed IRA

Cryptocurrency, like Bitcoin, is more popular today than ever before. Believe it or not, you can invest in Bitcoin to save for retirement. One account type you can choose to open is a Self-Directed IRA (also known as a Crypto IRA). Keep reading to learn more about how you can use Bitcoin investments to achieve the retirement of your dreams.

What is a Self-Directed IRA with Checkbook Control?

A Self-Directed IRA with checkbook control or Crypto IRA with checkbook control,, is a retirement account that allows you to invest in Bitcoin, other types of cryptocurrencies, as well as a broad range of alternative assets.

You don’t have to limit yourself to stocks, bonds, and mutual funds, like you would with a standard IRA.  With a Self-Directed IRA with checkbook control, you’ll have direct control of your IRA funds through an LLC. This means you may invest in Bitcoin in real-time, 24/7, without the need for your custodian for your everyday transactions.

Why Invest in Bitcoin with a Self-Directed IRA with Checkbook Control?

Why Invest in Bitcoin with a Self-Directed IRA Infographic: There are a number of reasons you may want to open a Self-Directed IRA and invest in Bitcoin, including to: (1) Diversify Your Retirement Portfolio - By diversifying your retirement portfolio beyond Wall Street with alternative investments like Bitcoin, you can potentially improve your returns and possibly lower your overall risk. (2) Receive Tax Advantages - Save on taxes right away with a Self-Directed Traditional IRA or set yourself up for tax-free income in retirement with a Self-Directed Roth IRA. (3) Yield Potentially Higher Returns - Since Bitcoin is an up-and-coming investment, it has the potential for excellent returns, allowing you to potentially boost your retirement savings. (4) Hold Your Own Private Keys - With a Self-Directed IRA with checkbook control, you store and trade on your time without limitations from exchanges. Plus, you can potentially shield against stolen crypto by holding your private keys. Put yourself in the driver’s seat of your Bitcoin investing. (5) Personal Interest and Expertise - A Crypto IRA is the way to go if you’re well-versed in Bitcoin or simply interested in it. Now you can invest in an asset that you know and believe in.

Self-Directed IRA with Checkbook Control Options

You can choose from two types of Self-Directed IRAs with checkbook control, including:

a chalkboard with traditional ira vs roth ira comparing both checkbook control options

Just like with a Traditional IRA, a Self-Directed Traditional IRA with checkbook control allows you to contribute pre-tax dollars, providing tax benefits immediately. It offers tax-deferred growth on investments, potentially accelerating your retirement savings. The ideal choice if you want to save on taxes right away. 

The Self-Directed Roth IRA with checkbook control offers a different approach — you fund it with after-tax dollars and allow your investment to grow tax-free. You can withdraw your original contributions penalty-free at any time. It’s a great option if you’re anticipating higher future tax rates and like the idea of tax-free income in retirement.

Other Types of Crypto Investments

Bitcoin is just one type of crypto you can invest in through a Self-Directed IRA. Enjoy the freedom to invest in virtually any cryptocurrency, such as:

  • Ethereum (ETH)
  • Cardano (ADA)
  • Solana (SOL)
  • XRP (XRP)
  • Quant (QNT)
  • Altcoins
  • Tokens 
  • & Other Emerging Cryptocurrencies!

How to Set Up a Self-Directed IRA with Checkbook Control

Broad Financial makes setting up a Self-Directed IRA with checkbook control a breeze.

Icon investor typing on computer with a clock next to him opening and funding his Self Directed IRA account

You complete our easy online application while simultaneously opening an SDIRA with our sister company and in-house SDIRA custodian, Madison Trust.

Icon investor holding money and increasing graphs in the back showing that he opened and funded his IRA LLC checking account

Madison Trust assists you in transferring or rolling over all - or a portion of - your existing IRA, 401(k), or other retirement account. You can also choose to make an initial contribution.

We establish a new LLC or trust for your IRA — which will serve as your IRA’s self-directed investing platform. We’ll fund your IRA LLC or Trust at the bank of your choosing.

Icon investor facing forwards pointing at an increasing trend graph to show how his investments have grown in his IRA LLC

You can begin placing Bitcoin investments by simply writing a check or sending a wire from your Crypto IRA's dedicated checking account.

Invest in Bitcoin with a Self-Directed IRA Today

If you’re interested in investing for retirement with Bitcoin, a Self-Directed IRA from Broad Financial should be on your radar. To get started or learn more, we encourage you to contact us today.

Disclaimer: Broad Financial LLC does not provide legal, tax, or investment advice. Please consult with your tax or legal advisor before making investment decisions. 


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