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iTrustCapital is a US-based cryptocurrency investment platform that allows investors to buy, sell and hold cryptocurrencies within an IRA (Individual Retirement Account) or a 401(k) account. The platform was founded in 2018 and has quickly gained popularity among crypto investors who want to add cryptocurrencies to their retirement portfolios.
iTrustCapital provides a simple and user-friendly interface that makes it easy for investors to manage their crypto investments and offers low trading fees and no hidden costs.
The company also takes security seriously, implementing strict security protocols and partnering with industry-leading custodians to ensure the safety of its clients' assets.
In this review, we will delve deeper into iTrustCapital's features, benefits and drawbacks to help you determine whether it is the right investment platform for you.
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iTrustCapital is a cryptocurrency investment platform founded in 2018 by Todd Southwick. It aims to provide investors with a secure and user-friendly platform for investing their retirement funds in alternative asset classes.
The company is based in Irvine, California and has quickly gained popularity among investors who want to diversify their portfolios by adding cryptocurrencies to their retirement accounts.
Despite its growing popularity, it is worth noting that iTrustCapital is not accredited by the Better Business Bureau (BBB) and currently holds a rating of C-. The BBB has received numerous customer complaints about the company's products or services, which has contributed to its lower rating.
While a C- rating is not the worst possible rating, it indicates that the company has some issues that must be addressed.
Despite its lower BBB rating, iTrustCapital provides various investment options, low trading fees and a secure platform for investors investing in cryptocurrencies within their IRA or 401(k) accounts.
The company takes security seriously, implementing strict security protocols and partnering with industry-leading custodians to ensure the safety of its client's assets. iTrustCapital also offers a simple and user-friendly interface, making it easy for investors to manage their crypto investments.
iTrustCapital Product Offerings
iTrustCapital offers a range of cryptocurrency products that users can invest in through their IRAs. These products include:
iTrustCapital Fees and Account Minimums
One of the most significant advantages of iTrustCapital is that it does not charge any account maintenance fees, unlike self-directed IRA providers that offer precious metal investments. These providers typically charge account maintenance fees to cover tax reporting and ensure that investments are stored in safe, IRS-approved facilities.
When investing in cryptocurrencies on iTrustCapital, investors are charged a 1% transaction fee. For instance, if an investor invests $5,000 in Bitcoin through their IRA, they will receive $4,950 worth of crypto after the trade clears, with the remaining $50 going back to the IRA provider.
On the other hand, the fees for precious metals vary depending on the current spot price. The term "spot" refers to the current price of the metal, which constantly changes. Therefore, the amount of gold or silver an investor can invest using their IRA contributions will vary as market demand shifts.
iTrustCapital charges a fee of $50 over the current spot for each ounce of gold added to an investor's IRA and $2.50 over the current spot for each ounce of silver added to their IRA. This fee is deducted from the total amount of gold or silver an investor purchases each time they trade on iTrustCapital's platform.
An investor can only fund their iTrustCapital account with $3,500. Standard IRA investing rules apply with regard to contribution limits and distributions. When investors reach retirement age, they can choose to make withdrawals in their investment choice instead of selling their investment and claiming its value in cash.
ITrustCapital offers competitive fees and account minimums, making it an attractive option for investors looking to add cryptocurrencies and precious metals to their retirement portfolios.
iTrustCapital Platform Ease of Use
iTrustCapital is a user-friendly investment platform that offers investors an easy-to-use interface for buying and selling cryptocurrencies and precious metals within their IRA or 401(k) account. The platform is designed to provide a hassle-free experience for investors with its step-by-step guided setup process, easy-to-master trading system and 24/7 availability.
The step-by-step guided setup process is designed to help investors set up their IRA or 401(k) account on iTrustCapital. This straightforward process makes it accessible to investors with different experience levels. The platform provides educational resources and guidance to help investors make informed investment decisions.
iTrustCapital's easy-to-master trading system allows investors to buy and sell cryptocurrencies and precious metals easily. The platform offers a user-friendly interface that is easy to navigate, making it simple for investors to monitor their portfolios and make trades.
ITrustCapital provides real-time market data and analysis to help investors make informed investment decisions.
The 24/7 trading platform is another key feature of iTrustCapital. The platform is always available, allowing investors to monitor and manage their portfolios anytime. This especially benefits investors who want to take advantage of market opportunities or make quick trades.
iTrustCapital Educational Tools
iTrustCapital provides various educational tools to help investors make informed investment decisions.
iTrust Customer Support
iTrustCapital offers customer support to its users through various channels, including phone, email and live chat. The customer support team is available 24/7 to address users' general concerns or queries about their accounts, investments or the platform.
To contact customer support via email, users can navigate to the iTrustCapital website and locate the "Contact Us" page. From there, they can fill out a contact form and submit it to the support team. Alternatively, users can use the live chat feature on the website to speak directly with a customer support representative in real time.
iTrustCapital also has a comprehensive FAQ section on its website that covers a wide range of topics, including account opening, funding, trading and security. This resource can be very useful for users with general questions or concerns that do not require direct contact with the support team.
iTrustCapital's customer support team is committed to providing timely and effective assistance to its users. Whether users need help setting up their accounts, making trades or have any other questions related to the platform, the support team is always available to help.
iTrustCapital Mobile App
iTrustCapital offers a mobile app for iOS and Android devices, allowing users to access their accounts and manage their investments. The app has a user-friendly interface that makes navigating and placing trades easy.
The iTrustCapital app allows users to monitor their account balances, view their transaction history and make deposits or withdrawals. The app also provides real-time pricing data for cryptocurrencies on the platform, charts and other market data to help users make informed investment decisions.
One of the key features of the iTrustCapital app is its 24/7 trading capability, which allows users to buy and sell cryptocurrencies at any time, even outside of traditional trading hours. This can be especially useful for users who want to take advantage of market movements or news events that may impact cryptocurrency prices.
The iTrustCapital mobile app is a convenient and easy-to-use tool for managing cryptocurrency investments through an IRA. Users can stay connected to their investments at home and on the go and take advantage of market opportunities through the app.
Why Precious Metals IRA Is Still the Best Option
A precious metals IRA is an investment vehicle that allows individuals to hold physical precious metals such as gold, silver, platinum and palladium, in a tax-advantaged retirement account. This type of IRA is becoming increasingly popular as investors seek to diversify their portfolios and protect their wealth against inflation and economic uncertainty.
Here are the benefits of a precious metals IRA:
How Do You Open a Precious Metals IRA?
Opening a precious metals IRA is a straightforward process and it can be done online through a reputable self-directed IRA custodian.
Choose a Custodian
The first step is to find a custodian who offers precious metals IRA accounts. Look for a custodian who is trustworthy and has a good reputation. You can research custodians on the internet or contact a local financial advisor.
Open an Account
Once you have found a custodian, you can open an account online. You will need to provide some personal information such as your name, address and social security number.
Fund Your Account
After you have opened your account, you need to fund it. You can fund your account through a transfer, rollover or contribution. A transfer involves moving funds from an existing IRA account to your new precious metals IRA account.
A rollover involves moving funds from a qualified retirement plan such as a 401(k), into your precious metals IRA account. A contribution involves making a direct deposit into your account.
Choose Your Investments
You can invest in gold, silver, platinum or palladium with a precious metals IRA. You can also invest in bullion or coins, which must meet the IRS's specific purity standards. Your custodian can help you choose the best investment options for your portfolio.
Purchase Your Precious Metals
After you have chosen your investments, you can purchase your precious metals through your custodian. Your custodian will handle the transaction and securely store your investments in an IRS-approved depository.
IRA Eligible Precious Metals
The Internal Revenue Service (IRS) has specific rules and regulations regarding the types of precious metals eligible for investment in an Individual Retirement Account (IRA). The eligible precious metals are gold, silver, platinum and palladium in the form of bullion bars or coins.
However, the IRS imposes strict requirements on the purity and weight of the precious metals that can be held in an IRA.
For gold and silver coins to be eligible for an IRA, they must be produced by a national government mint and have a minimum fineness of 0.995. Such coins include American Gold Eagles, Canadian Gold Maple Leafs, American Silver Eagles and Austrian Silver Philharmonics.
In addition, gold and silver bars held in an IRA must have a minimum fineness of 0.995 and be produced by an approved refiner or assayer. Examples of approved refiners or assayers include Johnson Matthey, PAMP Suisse and the Royal Canadian Mint.
For platinum and palladium coins to be eligible for an IRA, they must also be produced by a national government mint and have a minimum fineness of 0.9995. Examples of such coins include American Platinum Eagles and Canadian Platinum Maple Leafs.
Furthermore, there are weight requirements for bullion bars held in an IRA. Gold bars must be a minimum of 1/10th of an ounce, while silver bars must be a minimum of 1 ounce. Platinum and palladium bars must be a minimum of 1 ounce.
It is important to note that collectible, commemorative, numismatic and jewelry are not eligible for IRA investment, even if they are made of eligible precious metals. Therefore, it is advisable to consult with a financial advisor or a tax professional to ensure that the precious metals meet all the IRS requirements before investing in them for an IRA.
While iTrustCapital offers a user-friendly platform for investing in cryptocurrencies within an IRA, it's important to note that other companies may specialize in precious metals IRAs and offer more comprehensive services and a wider range of products.
Therefore, investors need to do their due diligence and research other reputable firms before deciding where to invest.
That being said, iTrustCapital is a legitimate and reliable platform that offers investors an innovative and secure way to diversify their retirement portfolios with cryptocurrency investments.
With their competitive transaction fees, no maintenance fees, educational tools and responsive customer support, iTrustCapital provides a valuable service to those looking to expand their investment options beyond traditional stocks and bonds.
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