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Gemini Exchange – Investing in Cryptos with an IRA

Gemini Exchange

IRA Financial (IRA Financial Group & IRA Financial Trust Company) has partnered with Gemini Exchange to provide a digital solution for cryptocurrency investments, such as Bitcoin. Investors can now buy Bitcoin directly through Gemini.

Key Points
  • IRA Financial partners with Gemini Exchange
  • Use the IRA Financial app to invest in cryptos, including Bitcoin
  • Using a Self-Directed IRA is the best tax-advantaged way to invest in cryptocurrency

Gemini Exchange Collaboration

We have integrated with Gemini Exchange, a leading digital currency exchange and custodian, to allow investors to purchase cryptocurrency investments directly through our digital retirement app. The new integration enables investors to buy and sell crypto without the need of an LLC (Limited Liability Company) or third-party broker-firm.

Check out the Gemini Website here.

IRA Financial is the first Self-Directed IRA company to allow their clients to invest in cryptocurrencies, such as Bitcoin, directly via a cryptocurrency exchange without the need for a third-party broker or the use of an LLC. Now, investors can use their retirement funds to buy all the major cryptocurrencies directly through Gemini, one of the leading US cryptocurrency exchanges. Our new cryptocurrency solution is the first to allow retirement account holders to hold cryptocurrencies in an IRA directly on an exchange.

Clients can now control their transaction costs by avoiding the need for costly LLCs and Brokers, but more importantly, trust Gemini as the licensed and qualified custodian of their cryptocurrency private key. It is our strong belief that the best and safest way to purchase Bitcoin and other cryptocurrency with IRA funds is with our digital solution. IRA Financial clients can perform transactions any time and will gain complete control over their cryptos.

Buying Bitcoin Through Gemini

Adam Bergman, IRA Financial president: “We are first IRA custodian to allow investors to buy cryptos on an exchange using an IRA without needing a broker or LLC.” The IRA will be opened directly with the exchange in the name of the IRA and the investor will be free to trade with with a maximum Gemini fee of 1.49%, which is far less than with any third-party broker.”

Additionally, retirement investors will have total control over their private keys. In other words, our new digital Bitcoin solution will do for IRA cryptocurrency investments what online brokers did for equities. This will reduce investor costs, increase efficiency and transparency, as well as provide the investor with greater control over their private keys.

Why Purchase Cryptos with Retirement Funds?

The IRS has made it clear in IRS Notice 2014-21 that cryptocurrencies shall be treated as property for federal income tax purposes. Accordingly, just like stocks and real estate, cryptocurrencies may be purchased with retirement funds. The main advantage of using retirement funds to purchase cryptocurrencies, such as Bitcoin, is that all income and gains would be tax-deferred or tax-free in the case of a Self-Directed Roth IRA.

How to Purchase Crypto with Retirement Funds

Investors can use their retirement funds to purchase Bitcoin and other cryptocurrency by working with a passive custodian to self-direct their retirement account. IRA Financial Trust (IRA Financial Group’s sister company) was established by Adam Bergman in 2015 to administer self-directed retirement accounts. The Trust Company was formed as a solution to conventional Self-Directed IRA custodians that lacked requisite expertise, costly fees, hidden fees and no emphasis on the importance of technology.

Purchasing cryptocurrencies, such as Bitcoin, is now easier than ever.

  • Open a Self-Directed IRA account with IRA Financial Trust using our mobile app
  • Transfer, rollover, or make an IRA contribution to your new Self-Directed IRA
  • Receive link to open an IRA at Gemini
  • Once new Gemini crypto account is opened in the name of your Self-Directed IRA, notify IRA Financial to move funds to Gemini
  • Funds are in your Gemini Self-Directed IRA cryptocurrency account ready for investment
  • You, not IRA Financial, will have total control over the Gemini account
  • IRA Financial handles all IRS reporting regarding the Self-Directed IRA cryptocurrency investments
  • By using the IRA Financial/Gemini solution, you can own Bitcoin and other cryptos directly in the name of your IRA or Solo 401(k) and not have to worry about any tax reporting/1099 issues that could arise if you owned the account in the name of an LLC

IRA Financial Trust Company is a non-fiduciary and offers no investment advice. As a result, clients have the freedom to make every IRS approved investment, such as cryptocurrency. It’s important that you, the investor, seek professional, financial help before making an investment.

For more information about the IRA Financial – Gemini partnership, please contact us @ 800.472.1043.

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