iTrustCapital Crypto IRA

Service Overview

iTrustCapital offers a digital asset IRA platform that allows investment in over 25 cryptocurrencies, including Bitcoin, which remains the primary focus for many investors. While the platform does support other cryptocurrencies and precious metals like gold and silver, its selection is less extensive compared to some competitors.

Fee Structure

iTrustCapital charges no monthly management or setup fees, only a 1% transaction fee for cryptocurrency trades. This pricing is on par with some of the lowest in the industry.

Account Setup and Management

The platform supports Roth, Traditional, and SEP IRAs, catering to a range of individual retirement planning needs. Once the account is established, trading can be conducted 24/7 directly from the dashboard.

Security and Custody

Security is a paramount concern for any investment platform, and iTrustCapital partners with Fortress Trust as its custodian. This partnership also extends an insurance policy to protect against theft and cybercrime. The Fortress Trust team has held senior positions at notable firms including - Goldman Sachs, UBS, Robinhood, CoinBase, Charles Schwab, Well Fargo, Signature Bank, BlockFi, Google, BitGo Trust, Kabbage, MX, FIS, WorldPay, Wyoming Banking Commission among other notable firms.

iTrustCapital's third-party Qualified Custodian, Fortress Trust, utilizes an FDIC-insured bank, Cross River Bank, to deposit its clients' USD. Deposit accounts are insured up to the maximum permitted by federal regulation.

It must be noted that FDIC insurance applies to USD assets held by US FDIC-insured banks and is intended to protect depositor money in the event of a bank failure. It does not protect your money or assets from losses relating to your investment decisions or market conditions.

Customer Support

iTrustCapital is reputed for its responsive customer support, available through phone and a comprehensive FAQ section on their website. This support is crucial for investors navigating the complexities of cryptocurrency IRAs.

FAQs

What types of IRAs does iTrustCapital support?

iTrustCapital supports Roth, Traditional, and SEP IRAs, providing a variety of tax-advantaged options for investors.

Can I transfer existing cryptocurrencies into an iTrustCapital IRA?

Yes, iTrustCapital allows for in-kind transfers from other IRAs, though direct transfers from wallets or exchanges are not permitted due to IRS regulations.

Are there any account minimums or setup fees with iTrustCapital?

iTrustCapital requires a minimum of $1,000 to open an account, with a minimum contribution of $500. There are no setup fees, and the platform boasts one of the lowest fee structures for crypto IRA investments.

How does iTrustCapital ensure the security of my investments?

iTrustCapital is a software platform that utilizes a third-party Qualified Custodian, Fortress Trust, to custody client assets. Fortress Trust is a regulated state-chartered trust company. As Qualified Custodian, it holds client assets in individual retirement accounts solely for the benefit of each client. 

Fortress utilizes proprietary technology to custody digital assets, including BitGo and Fireblocks.