Of all the Bitcoin IRA providers our staff reviewed, Noble Bitcoin is probably the smallest as far as the size of the company goes. That can be a good thing or a bad thing depending on your perspective. On the one hand, a small company may not have the track record or reputation of a larger competitor, or the ability to lower costs for customers thanks to economies of scale. On the other hand, a smaller provider can sometimes give customers better one-to-one style service, because they focus more on the customer experience than competitors.
This review will show you the benefits and the risks in choosing Noble Bitcoin over the competition. Nobody should decide what’s best for your retirement plan on your behalf, but at least after you’re done reviewing your crypto retirement investing options, you’ll be able to make a more informed decision.
Noble Bitcoin IRA: Advantages
Noble Bitcoin’s minimum investment requirement is only $10,000. Many other competitors look for investors to commit at least a $15,000 minimum deposit. Considering a minimum deposit is as low as $3,000 in some cases, a $10,000 is a bit out of reach for somebody that’s just starting to take their retirement planning seriously, but is probably a comfortable amount for somebody a few years into their career and earning a steady income. Noble Bitcoin is also taking care of custodian services for clients. That means there is no third party to track down if something goes wrong. That’s a big positive in a space like cryptocurrency where hacks are unfortunately still commonplace occurrences.
Another glowing advantage working to Noble Bitcoin’s favor is its customer reviews. The company maintains an impressive five-star review from TrustLink.com and an A rating via the Better Business Bureau. Customers love the fact that Noble offers an Ethereum-specific IRA and stores investments in cold wallets held in a proper depository. Transactions are also registered on a blockchain ledger.
Although the company has only been providing cryptocurrency investments since 2017, the executive team that runs the company has been in the precious metals industry for a lot longer than that. Investors who buy the idea that traditional gold is similar to digital gold might feel more confident investing with Noble Bitcoin given the experience of the team. There are however some downsides to choosing Noble Bitcoin over other competitors.
Noble Bitcoin IRA: Disadvantages
Choosing Noble Bitcoin’s IRA options comes with two distinct disadvantages. First of all the company’s insurance only covers up to $9 million in losses. Most competitors cover significantly more than that, the top providers covering up to $100 million in losses. Investors don’t need to be mathematicians to see that the difference between the two figures is substantial.
This is especially true in the cryptocurrency space where one major hack can reach well into the hundreds of millions of dollars.
The other glaring downside at Noble Bitcoin is that the organization only allows investors to pick from four different cryptocurrencies:
Many of the top IRA companies getting into Bitcoin and other cryptocurrencies offer at least six different options. There are also at least two competitors that offer eight different points to choose from, including our top-rated choice, Regal Assets.
Noble Bitcoin Vs Other IRAs (Regal Assets, Bitcoin IRA Coin IRA, BitIRA, etc)
|Criteria||Noble Bitcoin||Other Bitcoin IRA Companies|
|Minimum Investment||$10,000||Only one other IRA starts at less than $10,000|
|Coins Offered||Bitcoin, Ethereum, Litecoin, Ripple||Only Regal Assets offers more.|
|Customer Ratings||A rating with Better Business Bureau. 5 Stars with TrustLink.||Only Regal Assets has 5-star reviews on more sites.|
|Insurance Offered||Up to $9 million.||A handful of IRAs offer higher insurance coverage.|
Should investors choose Noble or not? Their website promises to put the customer first. As mentioned early on in the review, a smaller competitor generally sells the experience rather than selling costs/profits.
Noble may be the right fit for some looking for personalized service. At the end of the day however, retirement investing is about making money and securing the future.
When it comes to cryptocurrency, Noble provides a limited number of options that will only grow over time. For most investors, there is no need to wait for that portfolio to increase in size. Competitors already have that going for them.
Noble Bitcoin also doesn’t have the same track record of success as other IRA providers. While their executive team does have experience working with precious metals, they’re still considered to be relatively new in the cryptocurrency space.
As individuals who believe in Bitcoin enough to expose their retirement fund to it, there’s no sense handing digital asset based investments over to experts probably don’t have any more experience treating digital assets specifically than the average retail investor does.
At the end of the day however, investors are empowered to make whatever decision is best for them, and at least by investing in Bitcoin, they will be keeping their long-term wealth out of the hands of governments and centralized authorities.