iTrustCapital Broker Review

iTrustCapital is a leading platform in the growing field of digital asset retirement accounts, offering an innovative approach to retirement planning. Unlike traditional financial institutions that primarily focus on conventional assets such as stocks, bonds, and mutual funds, iTrustCapital enables investors to diversify their retirement portfolios by incorporating digital assets like Bitcoin, Ethereum, and other cryptocurrencies. By providing Crypto IRAs (Individual Retirement Accounts), iTrustCapital allows individuals to take control of their retirement savings while benefiting from the tax advantages and growth potential that cryptocurrencies offer. This unique platform not only provides access to a wide range of digital assets but also integrates secure custody solutions and user-friendly technology, making it an appealing choice for those looking to expand their retirement investments in the rapidly evolving world of digital finance.

Company History of iTrustCapital

iTrustCapital was founded in 2018 in Long Beach, California, with the goal of providing investors with the opportunity to integrate cryptocurrencies and precious metals into their retirement accounts, such as Individual Retirement Accounts (IRAs). The company aimed to disrupt the traditional IRA model by offering a secure and efficient way to engage with cryptocurrency and precious metal markets while benefiting from long-term tax advantages. 

iTrustCapital has focused on modernizing the outdated processes of traditional IRA models by enabling investors to diversify their portfolios with digital assets, while providing a user-friendly, secure platform for managing investments. 

In January 2022, iTrustCapital raised $125 million in a Series A funding round, which allowed the company to expand its product offerings, enhance customer support, and further develop its platform.

Since its inception, iTrustCapital has established itself as a leading platform for Crypto IRAs, providing investors access to a wide range of digital assets and precious metals while maintaining high standards of security and customer service. 

Regulatory Compliance and Safety – iTrustCapital

iTrustCapital places a strong emphasis on regulatory compliance and the safety of its users’ assets. The platform operates in full accordance with U.S. regulations governing retirement accounts, particularly with regard to the IRS’s rules on self-directed IRAs. This includes utilizing IRS-approved custodians to manage and store the assets within retirement accounts. These custodians are responsible for ensuring that iTrustCapital meets all legal requirements for handling retirement funds, providing an added layer of security for investors.

In addition to custodial oversight, iTrustCapital uses advanced security measures to protect digital assets. The platform employs cold storage solutions for cryptocurrencies, meaning that the majority of users’ digital assets are stored offline and away from potential online threats. This significantly reduces the risk of hacking or unauthorized access to users’ funds.

To further ensure the security of transactions and account management, iTrustCapital uses two-factor authentication (2FA) to verify users’ identities during login and transaction processes. This helps to protect against unauthorized access and ensures that only account holders can make changes to their portfolios.

iTrustCapital’s commitment to regulatory compliance, combined with robust security protocols, ensures that it remains a safe and trustworthy platform for managing Crypto IRAs. Investors can have peace of mind knowing that their assets are protected in a secure environment that meets IRS requirements for retirement accounts.

Why Choose iTrustCapital for a Crypto IRA?

A Crypto IRA is a self-directed Individual Retirement Account that allows individuals to invest in cryptocurrencies as part of their retirement savings. Unlike traditional IRAs, which typically focus on stocks, bonds, and mutual funds, Crypto IRAs enable investors to diversify their portfolios with digital assets like Bitcoin, Ethereum, and other popular cryptocurrencies. This provides a unique opportunity to leverage the growth potential of digital currencies while benefiting from tax advantages. Depending on the type of Crypto IRA, contributions may be tax-deferred in a Traditional IRA or tax-free in a Roth IRA, allowing assets to grow without immediate tax implications.

iTrustCapital is a leading platform for Crypto IRAs, known for its secure, user-friendly service and commitment to innovation. The platform allows investors to buy and sell a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Solana, within their retirement accounts. iTrustCapital stands out for its robust security measures, using IRS-approved custodians and cold storage solutions to protect digital assets. The platform is easy to use, with both desktop and mobile applications offering 24/7 access to manage investments. With a transparent fee structure and a focus on customer experience, iTrustCapital has earned a strong reputation among users, making it a top choice for those looking to add cryptocurrency to their retirement portfolios.

Features of the iTrustCapital Platform

iTrustCapital offers a comprehensive and user-friendly platform that enables investors to manage their Crypto IRAs with ease. The platform supports a wide range of digital assets, including popular cryptocurrencies like Bitcoin, Ethereum, and Solana, as well as physical precious metals such as gold and silver. iTrustCapital uses top-tier security measures, including cold storage and custodians approved by the IRS, ensuring that client assets are protected. The platform is accessible via both desktop and mobile applications, allowing users to monitor and manage their investments 24/7. Additionally, iTrustCapital is known for its exceptional customer service, with a dedicated support team available to assist clients at every step. With its transparent fee structure and commitment to regulatory compliance, iTrustCapital stands out as a reliable option for those looking to integrate cryptocurrency into their retirement plans.

Creating a Crypto IRA with iTrustCapital

Setting up a Crypto IRA with iTrustCapital is a straightforward process. First, investors need to choose between a Traditional or Roth IRA, depending on their tax preferences. Once the account type is selected, users can fund their account by transferring funds from an existing IRA, rolling over funds from a 401(k), or contributing directly with USD. After funding the account, users can select from a wide range of cryptocurrencies and precious metals to build their portfolio. The platform offers a seamless experience for managing investments, with real-time tracking and access to a variety of digital assets. iTrustCapital’s easy-to-use interface ensures that investors can efficiently buy and sell assets within their IRA, taking full control of their retirement savings.

Supported Cryptocurrencies on iTrustCapital

iTrustCapital offers a diverse selection of cryptocurrencies available for trading within your retirement account. As of January 2024, the platform supports over 25 cryptocurrencies, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Cardano (ADA)
• Chainlink (LINK)
• Dogecoin (DOGE)
• Polkadot (DOT)
• Polygon (MATIC)
• Uniswap (UNI)
• Algorand (ALGO)
• Decentraland (MANA)
• XRP (XRP)

This extensive range allows investors to diversify their portfolios with major cryptocurrencies and select altcoins. iTrustCapital frequently updates its offerings, adding new coins to meet the evolving interests of its clients. 

In addition to cryptocurrencies, iTrustCapital provides access to physical precious metals such as gold and silver, enabling a comprehensive approach to retirement investing. 

Please note that the availability of specific cryptocurrencies may change over time. For the most current list of supported assets, it’s advisable to visit iTrustCapital’s official website or contact their customer support.

Payments and Fees at iTrustCapital

iTrustCapital offers a clear and competitive fee structure for users. There is no monthly account fee, making it affordable for long-term investors. However, there is a 1% transaction fee for crypto trades, which is applied when buying or selling digital assets within the platform. For those interested in physical precious metals, there are additional transaction fees: $75 for gold trades (above the spot price per ounce) and $3.25 for silver trades (above the spot price per ounce). Importantly, there are no setup fees, storage fees, or account closure fees, providing transparency and ensuring that users are only charged for the services they use. This straightforward fee structure contributes to iTrustCapital’s reputation as a cost-effective and reliable platform for managing Crypto IRAs.

Withdrawals and Transfers 

iTrustCapital offers a seamless process for withdrawals and transfers, making it easy for investors to access their funds when needed. Here’s a breakdown of how withdrawals and transfers work on the platform:

1. Withdrawals: Investors can withdraw funds from their Crypto IRA accounts to a bank account. The process typically involves requesting a withdrawal through the platform, which then triggers the transfer of funds. iTrustCapital has a clear and simple withdrawal process, with a focus on ensuring that funds are transferred securely and efficiently. Depending on the type of assets (cryptocurrencies or physical metals), withdrawal processing times may vary, but iTrustCapital strives to handle all requests promptly.
   
2. Transfers: Users can also transfer funds between different types of retirement accounts. This includes rolling over funds from an existing IRA or 401(k) to a Crypto IRA, which is a popular option for those looking to diversify their retirement savings. Transfers can also involve moving assets between different custodians if necessary, though the platform aims to simplify this process for users.
   
3. Security: iTrustCapital prioritizes the safety of its users’ funds during withdrawals and transfers. Transactions are processed with high levels of security, including two-factor authentication (2FA) and other safeguards to prevent unauthorized access.

Pros and Cons 

Pros:

• Offers a wide range of cryptocurrencies and physical precious metals for retirement accounts.
• Provides tax advantages with Traditional and Roth Crypto IRAs, promoting long-term savings growth.
• User-friendly platform accessible via both desktop and mobile apps, with 24/7 access to manage investments.
• High level of security with IRS-approved custodians and cold storage solutions for digital assets.
• Excellent customer service with a dedicated, non-commissioned US-based support team.
• Competitive fees with no setup, monthly, or annual charges, and a reasonable 1% crypto transaction fee.

Cons:

• Primarily focused on retirement accounts, lacking advanced features for seasoned traders.
• Limited to U.S. investors, making it unavailable for international clients.
• Educational resources may not be sufficient for advanced investors looking for detailed market analysis.

Conclusion on iTrustCapital

iTrustCapital stands out as a reliable and innovative platform for individuals looking to incorporate digital assets into their retirement portfolios through Crypto IRAs. With its user-friendly interface, secure custody solutions, and transparent fee structure, iTrustCapital provides a unique opportunity for investors to diversify their retirement savings with cryptocurrencies and precious metals. The platform’s strong focus on regulatory compliance, safety, and customer support further enhances its appeal. While it may be better suited for long-term investors and retirement-focused portfolios, iTrustCapital’s range of assets, tax advantages, and cost-effective services make it a compelling choice for anyone looking to explore cryptocurrency investment within a retirement account. However, it is important for potential users to be aware of the platform’s limitations, such as its focus on retirement accounts and the availability only to U.S. investors. Overall, iTrustCapital offers an excellent option for those seeking to future-proof their retirement with digital assets in a secure, easy-to-use platform.