Evolution IRA FAQ:
How long does it take to setup an account?
We can typically have your Evolution IRA account open within 1 business day or less. Rollovers can generally be completed within 4-5 business days (though custodian times may vary). All in all, you should be ready for your first trade execution within one week or less of opening your Evolution IRA!
Can I roll in funds from a 401k plan?
Yes, 401k plans can roll in funds to your Evolution IRA to buy crypto.
What are the Evolution IRA fees?
There is an initial one-time setup fee to establish your IRA and make it ready for investing in crypto. The setup fee includes:
- White-glove concierge setup of a traditional or Roth IRA retirement account
- Full rollover support to fund your new IRA
- High security process ensuring your crypto is safely purchased and deposited into your retirement account.
Kingdom Trust provides our IRA custodian services and is a blue-chip name in the retirement account industry. BitGo provides secure storage of your crypto holdings. They will keep your account holdings secure and are renowned as a world leader in security, compliance, and custodial solutions for blockchain-based currencies.
There is a small monthly custodian and security fee for Kingdom Trust and BitGo to keep your assets safe. Our team is standing by to provide a complete quote on fees for your investment amount.
Are there any minimums on purchase orders?
There is a $10,000 minimum order on your first order and a $5,000 minimum per asset (Bitcoin, Ethereum, Ripple, etc). Because we are an institutional investor, we get OTC pricing (over the counter). This is often an average of all exchanges and pricing can be slightly more favorable because we aren’t going through retail investor exchanges where there can be big price swings. The price of each coin (to be most accurate) is discussed on the trade execution call.
Can I use non-retirement funds to buy crypto?
Yes, we have a personal funds custodial solution so you can use non-retirement funds to buy and store cryptocurrency. Please note this account is separate from your Evolution IRA. To comply with IRS regulations, your personal and non-retirement funds may not mix in one account.
What coins are available to add to my IRA portfolio?
We are proud to offer:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- ZCash (ZEC)
- Stellar Lumens (XLM)
Your dedicated Evolution IRA specialist is ready to help you put together your trade allocation and you may invest in entirely in one coin or a combination of multiple coins.
What retirement accounts can roll into an Evolution IRA?
Almost any retirement account can roll funds into your self-directed Evolution IRA, including:
- Employer profit-sharing plans
- 401(k) plans
- Rollover IRA
- TSP (Thrift Savings Plan)
- SEP IRA
- Simple IRA
- Traditional IRA
- Roth IRA
Can I transfer personally owned crypto into my Evolution IRA account?
As per IRS regulations personally held assets cannot be transferred into a retirement account. However, our team is ready to assist you in rolling over funds into your Evolution IRA from another retirement account. You may also make new contributions to your Evolution IRA (and these can also be tax-deductible!).
What is Bitcoin?
Bitcoin was created in 2009 by Satoshi Nakamoto to be a revolutionary digital currency. Bitcoin transactions are done with no intermediary (middleman) and no transaction fees. Anyone in the world can buy and hold Bitcoin. Click here to learn more about Bitcoin.
What is a blockchain?
The blockchain is a digital ledger where transactions are recorded publicly and chronologically. The blockchain is “open source” computer code, which means anyone can see it, read it, attempt to alter it, hack it, or change it. Every time a transaction is made on a blockchain, it is recorded. Click here to learn more about the blockchain.
Will I get taxed on moving money into my Evolution IRA from another retirement account?
No, our team specializes in helping you complete a “direct rollover” where there are no taxable implications of moving your money from one retirement plan to another.
Can I do a Roth IRA conversion with my Evolution IRA?
Yes, our team is ready to assist you in converting your traditional IRA or 401k funds into a Roth IRA so your crypto can grow tax-free!
Do you have both traditional and Roth options for Evolution IRA?
How safe is my cryptocurrency and where is it stored?
The Evolution IRA platform includes leading security protocols such as multi-signature wallet access. This means the custodian and security company cannot access your holdings without your direct permission. Your crypto holdings are stored in secure offline “cold storage”. The cold storage vault is offline and not connected to the Internet, to prevent hacking attempts. BitGo provides secure storage of your crypto holdings. They will keep your account holdings secure and are renowned as a world leader in security, compliance, and custodial solutions for blockchain-based currencies.
What taxes will I pay on the crypto in my retirement account?
The IRS ruled it is complaint to hold cryptocurrency and digital assets in your retirement account. (Read more on the IRS ruling here). This means the crypto in your retirement account can grow tax-deferred in a traditional IRA, or tax-free with a Roth account. If you have a traditional Evolution IRA account, you can begin withdrawing funds at age 59 ½. Once you begin withdrawing funds from a traditional IRA, you will begin to pay taxes on those withdrawals.
Can I use an IRA I already have and use your services to put crypto in it?
No, the majority of IRA custodians don’t allow investment into cryptocurrency. We designed Evolution IRA to work with Kingdom Trust Company and BitGo to provide an end-to-end solution. With an Evolution IRA, you can establish an IRS-compliant IRA and use that retirement account to purchase crypto.
Our team is ready to help establish your new crypto-friendly IRA and guide you through the entire process of funding your IRA via rollovers and purchasing crypto in your IRA.
Can I use my Coinbase account to buy bitcoin for the IRA?
Coinbase does not currently support retirement account investing. As per IRS regulations, you are unable to purchase Bitcoin and other crypto with personal funds and transfer those assets into an IRA. Currently, there are no retail crypto exchanges that allow you to open an account with your IRA. We created Evolution IRA as a unique solution to provide a bridge for investors to use their retirement funds to enter this exciting new asset class.
What are the steps to invest with an Evolution IRA and get crypto?
The process is simple:
- Open your Evolution IRA account
- Fund the IRA
- Buy Crypto
Typically, you can execute your first trade about a week (or less) after getting your Evolution IRA account open.
Why do you call it Evolution IRA?
We believe the financial system is changing and evolving. To be prepared for our transition into the Digital Age, your retirement account needs to evolve as well. The Evolution IRA is ready to grow and adapt so your retirement savings can be prepared for the next phase in our monetary system.