iTrustCapital Review: Should They Be Your Crypto and Precious Metals IRA Option?

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There are many options available to those who want to diversify their retirement benefits.

Although your employer will likely provide you with a wide range of benefits, it's always worth looking into the offerings of other companies if you are looking to expand.

Diversifying your retirement portfolio can be as simple as buying gold or other precious metals, or as complex as investing in cryptocurrency. You may be able to choose your assets more freely, including cryptocurrencies, if you prefer, with such options. 

iTrustCapital is a good place to start if you are a novice trader, as well as an experienced trader. iTrustCapital is one of the leading providers of crypto-based IRA retirement accounts.

A customized IRA can be created for anyone on the platform thanks to a variety of digital coins and a variety of investment trading options. Keep reading to learn more.

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iTrustCapital: A Brief Overview


homepage of itrustcapital website

Digital assets, such as cryptocurrency, and non-traditional assets, such as precious metals, gold, and silver, are the focus of iTrustCapital's IRA accounts.

The company's web interface is user-friendly and compliant with IRS standards, making it ideal for newcomers. 

This is especially encouraging for novice investors who may find precious metals and cryptocurrency investing a little intimidating at first, making the website and its offerings extremely useful to their clients. 

To that end, the website was created with non-technical users in mind, so no prior knowledge of online investing is required to get started using it right away.

Clients can rest assured that their assets are safe and secure because iTrustCapital's web interface complies with many standard practices of financial institutions as well as the most up-to-date encryption software.

There are three different types of IRAs accepted by iTrustCapital: traditional IRAs, Roth IRAs, and simplified employee pension (SEP) IRAs.

Although the company's trading platform does not currently offer every cryptocurrency, it does offer the eight most popular ones, such as Bitcoin, Litecoin, and Ethereum.

Cryptocurrency Trading and the iTrustCapital IRA


A newcomer to cryptocurrency trading may find the concept confusing and disjointed at first. The truth is, however, that trading cryptocurrency is a lot like trading other physical assets. When it comes to iTrustCapital's process, it's straightforward.

It's very easy to open a cryptocurrency IRA account in the same way you would any other IRA account.  

You will need to provide information about your finances and personal identity, as well as your bank account or other identifying information, to apply for an account.

After the application has been approved or denied, usually within three business days, the user can then fund the account and begin trading cryptocurrencies.

An account can be funded from a USDA bank account, an employee-provided retirement plan, or by moving another self-directed Individual Retirement Account (IRA) into it.  

A live chat and phone support service are available to help investors trade cryptocurrency at any time and are even available to those who do not hold accounts but have questions about opening one.

As of right now, iTrustCapital accounts can only be financed using USD funds.

Precious Metals Trading at iTrustCapital


image of a gold and silver bar

Precious metals have become an attractive investment option for those who are concerned about the future of the economy and the likelihood of future recessions.

Precious metals have a history of holding their value over the long term, which makes them an appealing investment for those who are saving for retirement. iTrustCapital offers physical gold and silver trading as part of its investment options. 

ITC's VaultChainTM holders have access to a portion of the Royal Canadian Mint's vaults that are dedicated to holding gold and silver, which they can use to buy metals from iTrustCapital.

Customers can buy or sell their metals at any time with full access to their holdings' titles, and they can also request physical delivery. The vault is maintained and monitored by the government of Canada's Crown Corporation and is highly secure. 

It is subjected to annual government audits and daily real-time reconciliations of its contents. The service uses the Tradewind Platform to ensure safe and convenient trading for its customers.

The platform employs several elements that are commonly used in the trading of cryptocurrency, but physical silver and gold trades are the basis of all assets.

Is iTrustCapital Insured?


Because of the high value of the commodities traded on iTrustCapital, it is understandable that investors have concerns about insurance coverage.

For iTrustCapital accounts, Curv, a PayPal holding, insures up to $50 million in assets. Additional protection is provided by the Federal Deposit Insurance Corporation (FDIC).

How Do I Protect My Assets?


Consumers and investors alike are naturally concerned about the security of online transactions, given the recent rise in identity theft and cybercrime. 

As a result, iTrustCapital employs some redundant systems to safeguard their clients' assets and personal information. In addition to Curv’s security, iTrustCapital employs several layers of its security to protect user accounts.

man looking at a clipboard

As with many banks and other financial institutions, ITC uses industry-standard multi-level authentication features to safeguard its customers' accounts and wallets.

The use of a secure email address and a mobile device to receive a unique, one-time login code is required at user login, which requires two-factor authentication.

This prevents hackers from gaining access to the account unless they also have access to the authentication device registered to the account.

Tax Benefits of an iTrustCapital IRA


If you're just starting, you may have questions about how your new investments will affect your taxes for the year. The IRS treats iTrustCapital's cryptocurrency IRAs as regular IRAs, with all the associated benefits and tax designations that entail.

To put it another way, tax-deferred growth is possible in iTrustCapital IRAs. If you prefer, you can also open a Roth IRA or a traditional IRA account, in which you are only taxed when you withdraw money from the account. 

It's difficult to predict how this will affect your taxes in the future if you're still a few years away from retirement, which makes it a risky strategy.

Account-holders should always keep themselves up-to-date on such developments and seek the advice of tax experts if they have any concerns or questions.

The Available Cryptocurrencies


When it comes to cryptocurrency, iTrustCapital offers a wide range of options for those looking to diversify their IRA accounts, including the following options:

  • Bitcoin (BTC)
  • XRP (XRP)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Polkadot (DOT)
  • Bitcoin Cash (BCH)
  • Stellar (XLM)
  • EOS (EOS)

More than a hundred different types of cryptocurrency are currently available in other markets, but ITC offers only the ones proven to be the most stable.

In contrast to fly-by-night cryptos that sprang up due to fads and memes and then faded away, these eight have been around for the longest time and have proven to have staying power and actual value.

Many global industries and markets now accept Bitcoin, Etheruem, and Litecoin as legitimate forms of value.

iTrustCapital Fees


Fees at iTrustCapital are clear and straightforward, and include the following:

  • Only 1% of the investment value of a crypto-currency trades.
  • The fee for a monthly subscription is $29.95.
  • Physical gold purchases are $50 per ounce over spot.
  • Physical silver purchases are $2.50 per ounce above spot.

The fees charged by iTrustCapital are extremely low when compared to those of some of its rivals. Because of this, their Individual Retirement Account (IRA) is an extremely valuable and competitive service.

Support for Clients


If things don't go according to plan when it comes to money, investments, and valuable assets, the account holder is going to be concerned. Because of this, customer service is an essential part of any investment firm.

Technical support is available via phone and chat at all hours of the day and night at iTrustCapital, which is well-known for its trustworthiness.

Questions from non-account holders can be answered quickly via email or phone call scheduled with a customer service representative. Before making a decision, potential customers can get answers to their questions before opening an account.

iTrustCapital IRA Frequently Asked Questions


As this article shows, iTrustCapital offers excellent services for long-term IRA investments in cryptocurrencies and precious metals. However, there are probably still some unanswered questions.

The following are some of the more frequent inquiries received from new customers:

What Investment Advice Does iTrustCapital Provide?  

When you sign up for an iTrustCapital account, you will have access to basic price tracking charts for various assets. They're simple, but they're effective when it comes to investing.

In addition, they offer a comprehensive knowledge base to assist you in getting the most out of your IRA. Investment advice is not available from financial advisors.

Is it possible to transfer my current IRA assets to a new one?  

An iTrustCapital account can be rolled over from an existing self-directed IRA or a crypto IRA from another provider without difficulty. Moving your investments, even if they're in cryptocurrencies, shouldn't necessitate liquidating them.

There may be more restrictions on how and whether you can roll over your IRA if it is currently provided by an employer retirement plan.

To learn if you can convert your IRA to a self-directed crypto IRA, speak with the person in charge of administering your retirement plan. Be aware that existing crypto holdings cannot be transferred to a crypto IRA.

This is due to the IRS's view of cryptocurrency as a form of property rather than money. If you want to put crypto into your IRA, you must first sell your existing crypto holdings and then use USD to purchase new crypto through iTrustCapital.

Where are my precious metals held?

The Royal Canadian Mint, which is owned by the Canadian government, is responsible for storing and guaranteeing gold and silver purchased through iTrustCapital. 

The same blockchain-distributed ledger technology that powers cryptocurrencies are used to manage the ownership of precious metals.

Is there a minimum or maximum amount of money that can be invested?

You can invest as much money as you want in your Individual Retirement Account (IRA). To get started, you'll need to put down a down payment of $2,500.

If you're funding your IRA with after-tax dollars, you may be restricted in the amount you can put in each year. 

Is There a Time Limit for Taking My IRA Money Out?  

Once you reach the age of 59 1/2, you can withdraw your money from your IRA just like you can from any other individual retirement account. If you withdraw your money too soon, you may face a 10% early withdrawal penalty on top of your regular income tax. 

Do you know how long it takes to open and fund an Individual Retirement Account?

After submitting your application, a new IRA can be established within 1-3 business days. Depending on the method you use to fund your account, the amount of time it takes to begin investing varies.

A direct contribution takes one week, an IRA transfer takes one to two weeks, and an employer plan rollover takes three to four weeks.

Advantages and Disadvantages


Even though iTrustCapital provides a wide range of excellent services, new account holders should be aware of all the company's limitations before making a final investment decision.

While iTrustCapital's services are excellent and the benefits far outweigh the drawbacks, new account holders should familiarize themselves with the company's limitations before making a final investment decision.

Pros

  • There are no setup or storage fees
  • Orders are cleared in less than five minutes
  • The fees are low
  • The platform is easy to use
  • Orders are quickly executed
  • Available assistance with the creation of new user accounts

Cons

  • Only eight of the most popular cryptocurrencies are available in which to invest
  • There is little variety in precious metal investments

Summary

For those who are interested in incorporating cryptocurrency trading into their retirement plans, iTrustCapital is a great resource.

iTrustCapital is at the forefront of the movement to add cryptocurrency to IRAs, investing in crypto for retirement.

As a result, one can rest easy knowing that his retirement portfolio is well-diversified, with both stable assets like precious metals and potentially lucrative, but still volatile, assets like cryptocurrency.

It is always a good idea to diversify your retirement portfolio. As the saying goes, iTrustCapital's crypto and precious metal IRAs are a great place to start if you don't want to put all your eggs in one basket.

iTrustCapital is an ok company, they are not a scam, but they are not the best choice if you are interested in precious metals like other companies we have written about on this website.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

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