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The laws surrounding crypto IRA investments have been a bit of a mess. Crypto IRA companies like iTrustCapital and others have made crypto IRA investment options simpler than ever.

A crypto IRA is a retirement account that invests in cryptocurrencies rather than more traditional assets like stocks, bonds and mutual funds.

A crypto IRA is an exciting way to invest in digital currencies that will not only secure your financial future but will also increase exponentially as these new digital currencies grow in popularity and value.

Investing in a crypto IRA lets you balance out some of the drawbacks of crypto investments by using them as tax advantaged retirement investments instead. In addition, crypto IRAs also offer various other benefits which make them an attractive way for investors to diversify their portfolios and prepare for their future financial goals.

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It’s simple to add Bitcoin into an IRA with iTrustCapitral. Its user-friendly technology allows you to purchase and trade cryptocurrencies, gold, and silver. You may invest a portion of your retirement dollars in cryptocurrency using a self-directed IRA. Choose whether your crypto profits are tax-free or tax-deferred based on whether you’re using a Roth IRA, a regular IRA, or a SEP IRA.

iTrustCapital offers a number of advantages for cryptocurrency investors including highly competitive rates with no monthly fees. They offer 24/7 access via an easy-to-use, real-time trading platform that grants access to Bitcoin and Altcoins along with industry leading low commissions on all trade executions. Don’t forget about their exclusive platform features, available only through iTrustCapital including Crypto Charts and Alerts where you can receive real time notifications when significant price fluctuations occur or news is released.

Pros

  • Tax-advantaged crypto trading
  • Gold and silver available
  • In-kind transfers
  • Regulated U.S.

Cons

  • Limited coin list
  • No interest can be earned
  • No mobile app

What is iTrustCapital?

iTrustCapital simplifies investing in gold and cryptocurrency via a self-directed IRA. Started in 2018, investors are able to fund their account by either transferring an existing IRA, rolling over an existing employer plan, or funding an entirely new IRA account.

Once your account is funded, you can use iTrustCapital’s platform to buy and sell the assets you want. The trading platform is live and available for trades 24/7.

Just like other IRAs, iTrustCapital’s crypto IRAs offer tax benefits. Depending on whether you choose a Traditional or Roth IRA, your account will be either tax-deferred or tax-free.

iTrust features

iTrust IRA

Trading from your iTrustCapital account is easy with live pricing and full order book. Users can place either limit or market orders with no fees.

iTrustCapital markets an extensive selection of altcoins and continues adding to the list. 

Tax reporting

When you make an investment using your IRA, you will receive tax documentation that reports exactly how much of each transaction has been taxable, thanks to IRS rules that require any transaction involving retirement accounts to be reported differently than standard brokerage accounts. 

iTrust custodial services

The iTrust IRA service is a custodial account, which means that all of the cryptocurrencies are stored by iTrustCapital. This allows investors to withdraw any cryptocurrency profits or losses directly from their account without having to sell it first, but it also means that they can’t move their crypto around themselves.

What coins are available?

The platform continues to expand it’s list of cryptos available. It offers a wallet for custody of your cryptocurrency assets as well as gold and silver options for IRA investments.

Once you’ve chosen your preferred investment option it’s easy to start trading cryptocurrencies with iTrustCapital.

iTrustCapital offers the following for trade:

  • Bitcoin
  • Ethereum
  • Polkadot
  • Litecoin
  • Chainlink
  • Bitcoin Cash
  • Stellar
  • Eos
  • Cardano
  • Aave
  • Dogecoin
  • Uniswap
  • Compound
  • Sushi
  • yearn.finance
  • Polygon (Matic)
  • Solana
  • Curve DAO
  • Enjin
  • Basic Attention Token
  • Algorand
  • Gold
  • Silver
  • Decentraland (MANA)

Is iTrust safe?

The security measures employed by iTrust include the following:

  • The assets are kept on an institutional grade wallet, Curv, which has (SOC) Type II status and is audited by EY Israel in accordance with AICPA standards.
  • Users also have Coinbase Custody which provides additional security, bringing their total insurance to $320M.
  • The Royal Canadian Mint holds the gold and silver, which are traded on VaultChain, a secure blockchain-distributed ledger.
  • Two-Factor Authentication (2FA) is used, which includes one-time passwords sent by SMS & voice-based 2FA.

iTrustCapital fees

iTrustCapital recently dropped their monthly fee in order to attract more customers and offer a very competitive product for the price overall:

  • Monthly fees: $0
  • Cryptocurrency: 1% fee per trade
  • Gold: $50 over spot (market price)
  • Silver: $2.50 over spot
  • Account minimum: $2,500

Traditional and Roth IRAs typically have no monthly charge, but self-directed IRA providers that provide precious metals funds must charge an account maintenance fee. This money is used to keep track of your finances and make sure your assets are held in a secure, IRS-approved depository.

iTrust app

Developers have taken steps to ensure that the investing platform is fully functional on all mobile browsers, despite the fact that iTrustCapital does not currently provide a proprietary mobile app. You can use basic “buy” and “sell” orders to manage your investments on-the-go, track your holdings, view portfolio information, and make deposits using the same tools as on your desktop platform.

Customer support

Customers appreciate the high level of customer service and the ease with which they may set up an account with iTrustCapital. The iTrustCapital customer care staff is accessible 24 hours a day, 7 days a week to answer inquiries and provide assistance. You can talk with a representative over the phone or contact them through their website.

Who is iTrust for?

If you are looking to transfer an existing IRA or other retirement account into crypto, then iTrust is a good option. All it takes is one phone call to get started with transferring funds over to their platform, where you can purchase cryptocurrencies at will without losing any tax associated with having a retirement account.

iTrust Capital offers competitive pricing on the cryptocurrency market. However, it is important to note that they do not offer interest or investment advice; this is purely a self-directed brokerage where investments are made by the user through their account portal.

IRA investors “must not have a felony conviction or no more than one misdemeanor.” Also, some states have additional rules on what companies are allowed to offer IRAs for cryptocurrencies.

Crypto tax software

For investors looking for IRA funds in cryptocurrency, iTrustCapital is an ideal option for buying and investing in cryptocurrency with minimal fees & high liquidity. And it doesn’t hurt that they are offering no monthly fees right now on their IRA accounts!

Since iTrust offers a number of cryptocurrencies for purchase, you can use cryptocurrency tax software to keep track of the information needed to file your taxes. There are several options available. Here is some of the best crypto tax software we have come across.

iTrust Capital Review Conclusion

If you’re looking for a crypto ira company with low fees and a high level of security, iTrust is a good option. While there is no app for iTrustCapital, you can easily purchase and sell cryptocurrencies through your mobile browser after setting up an account. i

Trust takes security seriously, with their own proprietary security software, cold storage protocol and third-party verification.

However, it is important to note that they do not offer interest or investment advice; this is purely a self-directed brokerage where investments are made by the user through their account portal.

CryptoWhat
CryptoWhat was created in 2015 and has become one of the most trusted and well-respected sources of information on all things crypto. The blog's authors are dedicated to providing clear, concise, and jargon-free explanations of this complex technology, so that everyone can understand it.
By: Patrick Moore
By: Patrick Moore