Cryptocurrency exchanges are the latest trend in the fintech market. Cryptocurrency is disrupting the way money works by providing a digital, secure, and decentralized way of transactions. And now, you can combine this with your IRA account.
In today’s article, we will be talking about iTrustCapital. iTrustCapital makes it possible for you to create a crypto IRA account and invest, buy and sell crypto using the funds from your retirement account.
In this iTrustCapital review, we will be taking a look at what exactly is iTrustCapital and how you can create an iTrustCapital account with the help of which you can better utilize your savings from your retirement account.
iTrustCapital is one of the best crypto IRA providers in the country today.
This iTrustCapital review will also cover topics such as what makes a crypto IRA different from your usual IRA account and how well does crypto IRA do when compared to traditional IRAs and Roth IRAs.
| Brand | iTrustCapital |
|---|---|
| About: | iTrustCapital is one of the leading crypto IRA providers, that is FDIC insured and makes it possible for users to trade crypto tokens with their IRA accounts. |
| Founder: | Tadd Southwick |
| Address: | 18575 Jamboree Rd Suite 600, Irvine, CA 92612 |
| Website: | https://itrustcapital.com/ |
| Top Features: |
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| Benefits: |
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| Insurance and Custody information: | iTrustCapital has a custodial partnership with Coinbase Custody where it is insured for $320 million. It is also insured by the Federal Deposit Insurance Corporation(FDIC). |
| Safety: | Two-factor authentication. They also use Fireblocks, a SOC 2 Type II certified company with an insurance cover of forty-two million USD ($42 million) |
| Fees and Account minimums: | There is no charge to get started.
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We will also be taking a look at how you can get tax benefits with your account and how you can use your iTrustCapital account to sell and buy precious metals such as gold and silver, something you won’t find anywhere else.
So, keep reading this comprehensive and honest iTrustCapital review to learn everything about this crypto IRA provider.
What is iTrustCapital?
iTrustCapital IRA is a crypto IRA provider that allows you to access digital assets with the savings from your retirement account or any other IRA account that you may have. With the help of a crypto IRA such as iTrustCapital, you can expand your savings from your existing IRA account. Not only do you get to utilize all the tax advantages and tax benefits from your existing IRA account but you also get the added benefits of being able to trade cryptocurrency.
The ability to buy and sell crypto with the help of iTrustCapital’s platform can take your savings to the next level. It gives you the freedom to choose between Traditional IRAs, SEP-IRA, or Roth IRAs when you start your account setup process. iTrustCapital makes it possible for you to get tax benefits on all of your crypto investments, whenever you plan to liquidate them.
Not only does iTrustCapital make it possible for you to trade with over 29 IRA-eligible crypto tokens, but it also lets you buy and sell precious metals with ease, on the same platform. Currently, it has gold and silver to offer, which you can easily add to your self-directed IRA account.
Other cryptocurrency IRAs do not offer the ability to buy and sell these metals. This is what makes iTrustCapital a little more unique. Another major perk of iTrustCapital that is not seen in any crypto IRA provider or cryptocurrency IRA broker is that it does not charge any monthly fees. They only have a base transparent fee of 1% which is charged on any transaction that you make on their platform.
About iTrustCapital
Irvine, California, is where iTrustCapital’s headquarters are located. Todd Southwick designed this crypto IRA that allows you to exchange physical gold, silver, and crypto tokens.
A free account can be opened and funded according to yearly guidelines.
iTrustCapital is a crypto IRA that allows its users to trade cryptocurrency, physical gold, and silver, 24/7 with their retirement accounts that can be funded through old IRAs, rollovers from 401k plans, or by simply adding new funds by following yearly guidelines.
All their assets are insured and secured to make sure that you don’t lose anything. They have cryptos that are backed by a secure blockchain distributed ledger and their physical gold and physical silver are secured with the Royal Canadian Mint. iTrustCapital is FDIC insured.
Out of the several cryptocurrency IRAs and crypto IRA platforms, iTrustCapital stands out as one of the most reliable, convenient, and easy crypto IRA providers. They have no extra fees. They only charge a 1% transaction fee per transaction on their platform.
Please note that iTrustCapital does not pay interest on cryptocurrencies yet.
What is an IRA?
In order to understand what crypto IRAs are and the need for itTrustCapital, it is important to also understand how IRAs work and what are the different types of IRAs that you have access to. Once we know that, the world of crypto IRAs will make a lot more sense.
IRA or individual retirement accounts are a form of pension service that provides you with tax advantages and tax benefits on the income you make. This is done with the help of retirement accounts. An IRA account makes it possible for you to buy and sell stocks and properties easily, without having to worry about capital gains.
The Roth IRA and a Traditional IRA are the two most prominent types of IRA accounts, which almost any working adult is familiar with.
Traditional IRAs are the type of IRA accounts that are funded with pre-tax dollars which is nothing but a part of your income before the tax is taken out from it. These are easy and simple tax-deferred accounts. Since you use pre-tax dollars for your traditional IRA account, and since it is tax-deferred, you won’t be able to get tax-free withdrawals.
If you are looking for tax-free returns then you might wanna check out Roth IRA, which are IRA accounts that are funded by post-tax dollars. Since you already have paid tax on the money that goes into your Roth IRA account, you don’t have to pay anything on withdrawals, making the money in your Roth IRA tax-free as opposed to the taxed returns from a tax-deferred account.
SEP IRA is also another type of IRA account that you can have. This works very similarly to a Traditional IRA. On the other hand, you can also have a self-directed IRA. With the help of a self-directed IRA, you can hold more than just company stocks. It can either work similarly to a Roth IRA or a Traditional IRA.
Now, coming to iTrustCapital IRA. This is a crypto IRA and it can either be tax-free or tax-deferred based on your preference or based on the type of IRA account you currently possess.
Just like a traditional IRA or Roth IRA, a crypto IRA too is a tax-advantaged retirement account. With the help of a cryptocurrency IRA, you can buy, and sell crypto tokens on popular cryptocurrency exchange platforms. iTrustCapital has made it possible for people to add crypto to their existing IRA account which, before their platform, wasn’t easy at all.
You can easily make tax-free or tax-deferred gains based on the type of IRA account you have, with the help of a crypto IRA such as iTrustCapital. Thus, with the help of a cryptocurrency IRA you can easily make your retirement portfolio more diverse by adding crypts such as BTC, ETH, bitcoin cash, and more.
With the help of a cryptocurrency IRA, it is easier for you to better use the money from your retirement accounts, and make some additional profits to help you beat inflation.
How Does iTrustCapital Work?
iTrustCapital sets you up with a SIDRA or self-directed IRA. This self-directed IRA can be a Traditional or Roth IRA based on if you want tax-free or deferred returns. iTrustCapital makes the whole process of setting up a crypto IRA easy and streamlined.
Once your crypto IRA account is set up and ready, you can start adding new assets to your retirement portfolio. This includes cryptocurrencies and precious metals. No other cryptocurrency IRA has as many assets as the iTrustCapital Platform.
When you create a Crypto IRA account with iTrustCapital you will need to fund it, for which there are 3 methods:
- You can transfer funds from any of your pre-existing IRAs
- You can use roll-over funds from an existing employer plan (401k plans)
- Or you can directly add new funds.
IRS rules state that any cryptocurrency IRA or crypto IRA must have a custodian. This custodial holds any crypto purchase that you make using the crypto IRA provider’s platform.
iTrustCapital has partnered with Coinbase Custody which is not its custodian. Coinbase Custody is related to one of the largest crypto exchanges in the world – Coinbase. This makes sure that your money is safe and secured.
Setting Up an IRA with iTrustCapital – The Process
You can create a free account on the iTrustCapital platform to start your crypto IRA journey. To make this all easy and less overwhelming, they have video guides by experts to help you get started.
Here is what you need to do when you are opening a new Crypto IRA account.
- Create a free, new account with iTrustCapital crypto IRA
- Choose the type of IRA account you have
- Add funds using any of the 3 methods
- Get started on trading & investing in cryptocurrencies, physical gold, and silver.
One of the best parts of starting a crypto IRA with iTrustCapital is that they don’t charge you any setup fees or hidden account fees, and if you face any problem while creating your account you can easily contact the support team of iTrustCapital for quick assistance.
Cryptocurrencies Available With iTrustCapital
For the uninitiated, cryptocurrencies are nothing but digital currencies. These are decentralized meaning that there is no central governing body behind these currencies which makes them corruption free. They are also backed by a secure blockchain distributed ledger which makes them immutable. Blockchain is one of the most secure technologies in the world today.
Currently, you can invest in around 29 crypto assets and 2 precious metals that iTrustCapital offers right now. These metals are gold and silver. Thanks to iTrustCapital, you can use the savings from your retirement accounts to buy and sell these assets with ease.
Here’s a list of all the cryptocurrencies they currently offer:
- Aave (AAVE)
- Algorand (ALGO)
- Axie Infinity (AXS)
- Basic Attention (BAT)
- Bitcoin (BTC)
- Decentraland (MANA)
- Shiba Inu (SHIB)
- Maker (MKR)
- Avalanche (AVAX)
- Ethereum (ETH)
- Chainlink (LINK)
- Polkadot (DOT)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Bitcoin Cash (BCH)
- EOS (EOS)
- Stellar (XLM)
- Uniswap (UNI)
- Compound (COMP)
- Sushi (SUSHI)
- Yearn. finance (YFI)
- Polygon (MATIC)
- Curve DAO (CRV)
- Tezos (XTZ)
- Cosmos (ATOM)
- Enjin (ENJ)
- Cardano (ADA)
- Solana (SOL)
- The Graph (GRT)
This is a great range of cryptocurrencies as it has the main coins such as BTC and ETH, alongside AltCoins, Metaverse tokens, and web3 tokes as well.
iTrustCapital Precious Metals
Another class of assets iTrustCapital offers is precious metals. This is ideal for anyone who is looking for something more stable than crypto tokens. iTrustCapital enables you to buy and sell two precious metals that they currently offer from the same account. These metals are physical gold and silver.
Physical gold and silver can be great alternative investments because they have been around for a long time and unlike cryptocurrencies, they are more trusted by the general public. iTrustCapital is one of the only crypto IRA platforms that lets you trade in precious metals like physical gold and physical silver alongside cryptocurrency.
You also do not need to worry about the legitimacy of this physical gold and silver as it comes from the Royal Canadian Mint.
A Look At The Offered Benefits and Features Of iTrustCapital
Let us now take a look at some of the features and benefits of the iTrustCapital crypto IRA provider that sets this platform apart from other crypto IRAs and iTrustCapital alternatives.
Application Processed In Minutes
iTrustCapital has taken away all the tedious paperwork and streamlined the whole process of applying for an IRA account. Everything is online and within minutes you can create a free account to start your retirement investing.
Just go to iTrustCapital.com and you can start planning for your retirement investing today.
3 Funding Options Available
Another thing that makes iTrustCapital so convenient is that you can add funds to your crypto IRA in 3 different and easy ways. You can either directly transfer funds from any other IRA account that you have, even if it is a crypto IRA or cryptocurrency IRA account. You can easily transfer the funds without worrying about liquidation.
Other than this you can also roll over funds from any existing employer plan which is usually something like a 401k or Roth IRA, or you can just add new funds directly.
You can find easy guides to help you navigate through this on the iTrustCapital platform.
29+ Assets
iTrustCapital offers a total of 29 crypto tokens and 2 precious metals (gold and silver) as alternative assets which you can invest with ease.
They have all the popular crypto tokens such as BTC, ETH, SOL, Doge, bitcoin cash, and more (see full list above).
Coinbase Custody
Institutional custody partners include iTrustCapital and Coinbase Custody. Any crypto IRA must use a crypto custody provider because it adds an extra layer of security. Coinbase is the world’s largest provider of cold storage for institutions. Coinbase Custody has a SOC 2 Type II security certification. A corporation that can properly preserve user data and regulate security measures is awarded the SOC 2 Type II accreditation.
A $320 million insurance coverage covers all of iTrustCapital’s assets, ensuring their safety in the event of an attack. Coinbase’s Custody division is a separate, subsidiary company from Coinbase. It’s effectively a stand-alone fiduciary that’s protected by New York banking laws.
The Coinbase custody is run by the Coinbase Custody Trust Company. This is an LLC that’s regulated by the NYDFS – New York Department of Financial Services.
Gold and Silver – Royal Canadian Mint
The IRA-eligible gold and silver that iTrustCapital offers are also safe and secure as it is kept in the safe vaults of the Royal Canadian Mint. This mint is owned by the Government of Canada. iTrustCapital also has a partnership with ValutChain to help with their gold and silver reserves.
Safety of Assets
Safety is one of the most important factors here and iTrustCapital uses some of the best security services. It uses Fireblocks which is a SOC2 Type II certified institution, with an insurance coverage backup of $42 million. This is the same certification that Coinbase Custody has.
iTrustCapital crypto IRA also complies with all the rules and guidelines that the American Institute of Certified Public Accounts (AICPA) has laid down for crypto IRA providers. With multi-authentication protocols and personal account protections using two-factor authentication, they are as secure as the banking and military sectors.
A Look At The iTrustCapital Pricing & Fees Structure
According to one online iTrustCapital review, the account minimums that they offer are considered to be too high. Whereas there are other iTrustCapital reviews that are pretty happy about the account minimums that iTrustCapital offers.
Regardless of this, one feature that is loved by everyone is that like other crypto IRA platforms that charge monthly fees or monthly maintenance fees and setup fees for new accounts, iTrustCapital only takes small transaction fees.
Following is a general breakdown of the various costs of using iTrustCapital’s platform:
- Monthly Account Fee: $0
- Cryptocurrency Transaction Fee: 1%
- Gold Trading: $50 over spot per ounce
- Silver Trading: $2.50 over spot per ounce
- Account minimums: $1,000 to open an account
- Conversion Fee: $75 one-time fee to convert your old IRA account.
It is hard to find crypto IRA providers with no account minimums and if they don’t have any account minimums, they usually have a high monthly fee for keeping your crypto IRA account running.
iTrustCapital on the other hand, has no setup fees, monthly fees, or any hidden fees and is very transparent about where your money goes.
What’s Comes With Your iTrustCapital Account?
Once you get your account setup with iTrustCapital you are also eligible for the following additional benefits, that come with your account:
- Quick setup of your new IRA
- Quick and convenient assistance for transferring, adding, or rolling over funds to your new crypto IRA.
- All information and guides to teach you about IRS rules and reporting of taxes.
- Unlimited storage with institutional custody partner – Coinbase
- Overall phone customer service support.
- No additional charges or hidden fees for any other service.
Pros and Cons of iTrustCapital
Pros:
- The ease of use and the speed of setup.
- Cryptocurrency exchanges allow for quick trading of digital assets.
- Live chat and phone customer care are available to provide excellent support.
- Physical gold and silver are among its alternative assets.
- All monies can be transferred from other crypto exchanges or a crypto IRA without incurring additional charges.
- Staying in a new account has no monthly fee or any hidden costs.
Cons:
- Some users may find their account minimums to be prohibitive.
- They don’t pay interest on cryptocurrency holdings like a cryptocurrency exchange or other cryptocurrency IRAs.
- An extremely small number of digital currencies and crypto tokens are available.
Final Verdict
To conclude our iTrustCapital review, and to answer the question: is iTrustCapital legit? We would say yes. They are legit and trustworthy. If you are looking for a crypto IRA or cryptocurrency IRA, to make your retirement portfolio more diversified and better invest your retirement money, then we would highly recommend iTrustCapital Crypto IRA.
Any information mentioned in this article does not constitute investment advice in any way shape or form, please read all investments-related documents carefully and contact your financial relationships manager or financial advisor before making any decisions.
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