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Setting Up Your Bitcoin IRA with Unchained: A Step-by-Step Guide

Setting Up Your Bitcoin IRA with Unchained: A Step-by-Step Guide

Dec 10, 2023
Bitcoin Basics

Setting Up Your Bitcoin IRA with Unchained: A Step-by-Step Guide

Introduction to Bitcoin IRAs

Bitcoin IRAs are gaining traction among investors who see the potential in diversifying their retirement portfolios with cryptocurrency. The idea of integrating bitcoin into a retirement plan can be daunting, but Unchained has streamlined the process, making it accessible and straightforward.

The Appeal of Bitcoin IRAs

Investing in a Bitcoin IRA allows for potential growth in a tax-advantaged account, with the same IRA benefits you're accustomed to. As bitcoin continues to establish itself in the financial world, many are looking to it as a long-term investment vehicle.

Understanding the Process with Unchained

Unchained's platform simplifies the setup process, guiding users through each step with ease. From account creation to funding, Unchained is designed to make your journey into Bitcoin IRAs as smooth as possible.

Getting Started with Unchained

Creating an Unchained Account

The first step is to navigate to and select "Get Started." You'll be directed to an account creation page to enter your email and create a password, followed by selecting "Create account."

Email Verification and Profile Creation

Verification is crucial for security; check your email for the verification link. Once clicked, you'll sign in again and begin the profile creation process, which includes entering your name, date of birth, and other personal details.

Personal and Identification Information

You'll input your address and contact information, then upload identification—a passport or a US driver's license, for instance. This step is essential for compliance and account security.

Initiating the Bitcoin IRA Setup

Selecting the Bitcoin IRA Option

On your Unchained dashboard, select the Bitcoin IRA option to start setting up your retirement account. You'll enter sensitive information like your social security number, so ensure you're in a secure environment.

IRA Account Creation Process

You'll have the choice between expert guidance for a fee or self-setup at no cost. The process is designed to be user-friendly, but the expert session can offer additional peace of mind.

Choosing Your IRA Type

Decide between a Traditional or Roth IRA based on your tax preferences. A Roth IRA, for example, offers tax-free growth on after-tax contributions, which can be beneficial for bitcoin's potential appreciation.

Adding Beneficiaries to Your Account

Marital Status and Primary Beneficiaries

Adding beneficiaries ensures your assets are distributed according to your wishes. You'll indicate your marital status and then provide details for your primary beneficiaries.

Contingent Beneficiaries

Though optional, contingent beneficiaries are a backup if primary beneficiaries can't inherit. This section can be skipped if it doesn't apply to your situation.

Review and Submission of Your Information

Reviewing Submitted Data

Before submitting, you'll get a chance to review all the information you entered. It's crucial to double-check for accuracy to avoid any issues with your account setup.

Submitting for Review

Once satisfied with the details, submit your profile for verification. This process may take some time, so be patient as Unchained reviews your submission.

Signing Your IRA Agreement

Accessing the IRA Agreement

After approval, you'll be prompted to sign your IRA agreement. This legally binding document outlines the terms of your account and should be read thoroughly.

Completing and Signing the Document

Use the provided DocuSign link to complete and electronically sign the agreement. Ensure all information is correct before finalizing the document.

Creating Your Unchained IRA Vault

Uploading Keys to Your Account

The security of your bitcoin relies on private keys. You'll upload these to your Unchained account, using a hardware wallet for enhanced protection.

Building Your Secure IRA Vault

With keys uploaded, you'll create a vault for your IRA. This digital vault secures your bitcoin and is a critical component of your Unchained IRA.

Multi-Signature (Multi-Sig) Wallets in Cryptocurrency: Enhancing Bitcoin Security and Flexibility
Drawing a parallel to the physical world, multi-sig in the digital domain is akin to requiring several keys to unlock a bank vault, with the distinct difference of involving cryptographic keys.

Funding Your Bitcoin IRA

Requesting the IRA Funding Form

To fund your account, you'll request and complete a funding form. This informs Unchained's team how you intend to transfer funds, whether from another IRA or through a direct contribution.

Informing the Team and Submitting Paperwork

After submitting the form, Unchained will prepare the necessary documents for your signature. This step initiates the transfer process to fund your bitcoin IRA.


Setting up a Bitcoin IRA with Unchained is a straightforward process that opens the door to cryptocurrency investment for retirement. Follow each step carefully, and soon you'll have a bitcoin IRA tailored to your financial goals.


  1. What are the benefits of a Bitcoin IRA over a traditional IRA?
  2. Is the Unchained platform secure for setting up a Bitcoin IRA?
  3. What types of identification are needed to set up an Unchained Bitcoin IRA?
  4. Can I choose between different types of IRAs on Unchained?
  5. How do I fund my Unchained Bitcoin IRA once it's set up?
Understanding Bitcoin Inheritance: A Guide for US Bitcoin Holders
When it comes to bitcoin and inheritance, there are two critical components to consider: possession and title. Possession refers to the physical control of your private keys—the cryptographic proof of ownership for your bitcoin.


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