Blockmint IRA: Pros, Cons and How it Compares

Cryptocurrencies continue to revolutionize the financial industry. From investing to trading, you can now find many companies capable of handling your digital currency needs. But have you ever wished there were more options when it comes to crypto IRAs? If so, you're far from alone.

Fortunately, your wish has become a reality. A new type of company has entered the market, ready to help individuals meet their crypto investment needs.

What's one example of this? BlockMint IRA, an enterprise specializing in cryptocurrency IRAs.

Owned by the investment company and precious metals dealer Lear Capital, BlockMint is changing how people invest in tax-free IRA accounts. But does this innovative retirement fund represent a safe investment for you? 

Keep reading as we take a closer look at BlockMint IRA and what it means for the future of retirement accounts.

What Is BlockMint?

BlockMint is a cryptocurrency dealer specializing in digital currency IRAs. It's a branch of Lear Capital, a financial company known for its precious metals investments, including silver and gold. 

Although BlockMint represents a recent arrival on the scene, Lear Capital boasts more than two decades in the business, providing stability and security to its crypto offshoot. The company manages over $2 billion in retirement fund transactions, so the move into crypto funds represents a natural transition. 

In a world where more people are interested in diversifying their portfolios and hedging their holdings than ever before, it only makes sense that something like BlockMint would come into being. 

The company boasts dedicated account executives who walk consumers through the pros and cons of investing in cryptos. They can also help users find the right currencies based on their financial needs and ability to stomach risk. 

The company has forged a partnership with IRA custodian New Direction IRA. While BlockMint handles investor's selling and buying of Litecoin (LTC), Ethereum (ETH), and Bitcoin (BTC), funding transactions get coordinated with New Direction IRA to execute trades.

Because most consumers have little familiarity with these transactions, there's a tremendous learning curve. What's more, the transactions prove time-consuming, hence the necessity of bringing BlockMint into the mix. Fortunately, BlockMint permits consumers to conduct buy and sell transactions quickly and competently.

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How Do BlockMint's IRA Accounts Work?

There are both similarities and differences between BlockMint's IRA program and that of more traditional accounts. For example, the company relies on cryptos rather than fiat currencies, gold, or other common investment assets. 

How do consumers fund BlockMint IRAs? Through IRA tax-free money transfers from an existing IRA. You may also fund an account through your 401(k) account or other savings plans, including TIAA CREF plans, Thrift Savings Plans, 403(b)s, and 457(b)s.

Getting Started With BlockMint

To make the switch to BlockMint requires just three simple steps. First, you need to apply online by heading to BlockMint's website. There, click on the "Get Started Now" button. This step will take you to the company's online application.

In about five minutes, you can complete the form and submit it. What if you'd prefer to speak to a live person when going through the registration process. Call BlockMint to speak with a customer service representative who can walk you through registration. 

Next, select how much you'd like to invest in your BlockMint IRA. To fund your wallet to process these investments, transfer collateral (penalty-free) from another account to your new crypto IRA.

After you've decided how much you want to add to your IRA, BlockMint will prompt you to choose your cryptocurrency. What if you have no idea where to start?

Fortunately, you'll work directly with a BlockMint representative capable of guiding you through this selection process. With BlockMint, rest assured you'll get the educated guidance to make the best selections possible.

BlockMint IRA: Fees and Costs

What should you expect in terms of charges when making the transition to BlockMint? You'll need to be aware of the additional fees and costs associated with having a BlockMint IRA. 

To open an account, pay a one-time $500 platform enrollment fee as well as a one percent transaction fee. These charges are known collectively as account establishment fees.

What about other fees? When making cryptocurrency purchases, you'll pay a 15 percent transaction fee. You'll also get charged an annual storage fee of $195 for maintenance. 

Besides annual fees, be prepared to pay $20 per month for maintenance as well as a monthly storage fee equivalent to 0.07 percent of your account balance. 

BlockMint: Pricing and Investment Amounts

When you go to the BlockMint website, you'll gain access to the platform's live pricing feature. These figures include daily pricing for Ethereum (ETH), Litecoin (LTC), and Bitcoin (BTC). 

To invest in BlockMint, you must meet the minimum investment amount of $20,000. The site offers free guides to investing based on different monetary sums. These groups include the following ranges:

• $10,000 to $25,000

• $25,001 to $50,000

• $50,001 to $100,000

• $100,000+

These guides will get you up-to-date when it comes to owning a cryptocurrency IRA. What else do you need to know about investing through BlockMint? You can learn a lot about the platform by taking a closer look at consumers' most frequently asked questions (FAQs).

Should these problems spook consumers? Should they keep them from investing in a crypto IRA? Not necessarily. 

But you must have a solid grasp of the risk related to entering the volatile digital currency market. You must also deal with many monthly and annual fees. These add up, so you need to consider how they stack up against the services the company provides.

Making Cryptocurrency Retirement Work for You

Who should consider working with BlockMint IRA? Individuals familiar with cryptos who want to diversify their portfolios. Just make sure you feel comfortable with the fees associated with having a BlockMint account.

That said, the company has done an excellent job of pairing consumers with dedicated account executives who are well-versed in multiple digital currencies. For these reasons, BlockMint does a tremendous job of supporting its investors' needs. 

Are you interested in other crypto investment opportunities? Check out our comprehensive list of digital currency platforms.