iTrustCapital Review

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Are you interested in investing in gold, silver, and cryptocurrencies through your retirement account? 

iTrustCapital can help you with that. It is a self-directed IRA provider with a focus on offering an easy-to-understand and straightforward platform for investors. Such a platform is excellent news for beginner investors with no experience in alternative investments.

Upon reaching the retirement age, you have the option of getting the disbursement in the assets in which you have invested or in cash.

Before we get started with this review:

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While the number of currencies on offer on the platform isn’t as big as you could find at brokers such as Coinbase but its unique IRA offerings & simple structure make it an excellent choice for investment.

It is the best choice for:

- Investors looking to buy cryptocurrencies, silver, or gold for their IRA
- Investors with a long-term investment focus on precious metals or cryptocurrency
- Beginner investors in cryptocurrency

itrustcapital homepage

What is iTrustCapital?

They are a self-directed IRA broker through which you can invest in cryptocurrencies in your retirement accounts. It is a great way to diversify your retirement investments. They also offer gold and silver for investment.

After reaching the retirement age, you have the option of taking the disbursement in the assets you have already bought or in cash.

If you are searching for a cryptocurrency IRA broker that makes it extremely easy to add digital assets to a retirement portfolio, they are the right choice as they make it super easy for anyone.

You don’t get to invest in all the cryptocurrencies available out there as the platform selection is limited but it won’t be wrong to say that there is still a decent selection and the platform is always looking to add more options to its selection.

Cryptocurrency IRA

In simple terms, it is a self-directed IRA that offers all the tax advantages of a retirement account but here you can also add cryptocurrency assets to your retirement account. 

One of the biggest advantages of a cryptocurrency IRA is that it allows you to quickly grow your retirement fund.

The cryptocurrency market is indeed volatile but it also offers the potential to grow your investments at a fast rate and you should seriously consider it for your retirement. 

Also, a cryptocurrency IRA offers the same tax and other benefits as an investment in a traditional IRA.

In simple terms, it means that you will be able to take advantage of the tax benefits associated with a traditional IRA. Your IRA investments will be stored on either a cryptocurrency exchange or a digital wallet.

When it comes to iTrustCapital, they keep your assets in a custodial wallet as the assets are kept secure on an exchange.

info about crypto and precious metals ira

Precious Metal IRA

It’s a special type of self-directed IRA. With this self-directed IRA, you get the independence to invest in a wide range of unconventional assets that may include real estate, precious metals, and cryptocurrency.

The traditional IRA does not offer such options though other than the choice of assets, all other things remain the same including the contribution limits. 

Some people like to invest in precious metal IRAs to diversify their retirement investments like precious metals including palladium, silver, and gold have always grown in value over the long term. 

One of the biggest advantages of adding precious metals or gold to a retirement account is that it helps in protecting the assets and protects the investors from investment risk and volatility.

It serves as an excellent hedge if there is an economic downturn and also acts as a tax-efficient shelter for protecting potential gains.

Advantages of a Precious Metals IRA

Diversification — One of the biggest advantages is diversification as precious metals IRA allows you to spread your retirement assets in various asset baskets. In simple terms, it means your investment becomes more risk-averse.

Supply is limited — You would agree that precious metals are available only in finite quantities. This is the very reason they are known as precious metals.

While gold and silver have always held value as a currency, these are also widely used in the industrial and medical sectors which means there is always going to be a sustained demand for these metals.

Maintain purchasing power — With gold and silver, you also get to maintain your purchasing power as assets usually go up in value whereas the US dollar will decline in value.

Moving to a precious metals IRA is easy — You don’t need to jump through a complicated process to switch to precious metals IRA.

You only need an existing IRA or an eligible 401(k) or one of the other types of retirement accounts to roll over the assets into a precious metals IRA with investments in silver, gold, or other precious metals.

Fees and Minimums

There is no monthly fee associated with the Roth and traditional IRAs but when it comes to self-directed IRA providers of precious metal investments, there is an account maintenance fee. The fee needs to be paid for tax reporting as well as for the safe storage of investments in an IRS-approved facility.

No maintenance fee is charged by iTrustCapital. Also, they do not require investors to have a payment method on file.

A 1% fee is charged by the platform for buying cryptocurrencies. In simple terms, if you decide to invest $10000 into a cryptocurrency through the IRA, you will get cryptocurrency worth $9900 once the trade is cleared. The remaining $100 with go to the IRA provider.

As far as the fees associated with precious metal investments is concerned, these depend on the spot price. Since the spot prices are always changing, the amount of silver or gold that you can buy with your IRA contributions will also change as per the price of these precious metals.

In terms of fees, a fee of $50 is added by iTrustCapital over the current spot price for each ounce of gold added to the IRA. In the case of silver, the corresponding fee is $2.50. Similar to cryptocurrency investments, the amount of silver or gold added to your IRA account is after deducting the fees.

As far as the minimum investment amount is concerned, you will have to invest a minimum of $3500 on the iTrustCapital platform. For distributions and contributions limits, the rules are the same as for a traditional IRA. Upon reaching retirement age, you have the option of withdrawing your investment assets or selling them and getting them in cash.

Intuitive Platform

With iTrustCapital, you can invest in precious metals and cryptocurrencies with a self-directed IRA.

You get the same tax advantages and limitations with this self-directed I IRA as you would with a traditional IRA but you get a lot more flexibility regarding the type of assets that can be added to your retirement portfolio. 

Here is a list of the features that make iTrustCapital an easy-to-use platform: 

Set up is a breeze — If you have never opened an IRA account, you don’t need to worry about that. On iTrustCapital, there is a step-by-step guide available for the sign-up process.

They have designed the questions keeping beginners in mind and there is also information available on the differences between various IRA types.

Trading is easy — iTrustCapital has succeeded in creating an intuitive platform for beginners. There aren’t any complicated charts or analysis tools.

You can easily get the price for each asset and if you want to place an order, there are marked Buy and Sell buttons. Also, they make it easy for you to track any changes in your investments over some time.

24 x 7 availability — The platform is available 24 x 7 which means you can place an order for precious metals or cryptocurrency at any time.

Overall, iTrustCapital has succeeded in creating a beginner-friendly and intuitive platform.

Education Tools

iTrustCapital also offers educational tools for beginners to have a better understanding of the precious metals and cryptocurrency markets before they start investing money in these assets. Here is a list of some of the educational tools offered on the platform: 

Guidance for account opening — If you are opening a retirement account for the first time, you won’t have any problem with iTrustCapital. They have an intuitive step-by-step system and there is help available at every step.

Knowledge center — The company’s blog is its knowledge center. They have an article on almost everything concerning the assets offered on their platform. 

You will find information on crypto wallet security, advantages of crypto IRA and information related to taxation and other such things. 

Cryptocurrency report — If you want to know more about the platform before opening an account, you just need to give them your email address and a free guide for investment in cryptocurrencies will be emailed to you straight away. 

This guide not only helps you get valuable information on getting started in the cryptocurrency market but also highlights the unique features offered on the platform.

Learning — If you want to learn, there is a lot of information available on precious metals and cryptocurrencies. The fees charged on the platform are also available there and they also explain how your investment is protected with the help of their security protocols.

Customer Support

Their customer service team can be reached through a variety of methods.

Phone — You can get in touch with them by dialing 866 – 308 – 7878. If the phone is busy and you don’t want to wait, there is also the option of scheduling a phone call from an iTrustCapital representative. 

You will find this option on their website to schedule a call. Click on the link and you will find a scheduling tool for setting up the phone call.

The company receives a large number of phone calls every day and this is why only a maximum of 10 minutes is allotted for each client. You need to be sure about what you want to talk about before scheduling a call.

Chat function — They also offer support through live chat. For live chat support, you will need to login into the account and you will find the chat live option on the home screen. 

Off-platform chat — You can also access live chat on their website. Just click on the messages button. You will need to provide some information regarding the type of help you need. It also allows you to attach up to five files or screenshots to give context to the customer service team. 

Social media — You can also reach them on popular social media platforms including Telegram, Facebook, LinkedIn, Instagram, and Twitter.

Funding the Account

You have three options for funding your account at iTrustCapital: 

Transfer existing IRA — You can always transfer existing IRA including SIMPLE, SEP, Roth, traditional, and inherited. The waiting period ranges from 1 to 2 weeks.

Contributions — Regular contributions may be made by investors as per the yearly guidelines. The waiting period for this model is around a week. 

Employer plans: IRA plans can be rolled over if there is a job change. It usually takes around 3 to 4 weeks.

Complaints

Even though more than 90% of the customer reviews for the platform are positive with ratings of excellent, there are also some complaints. These are typically related to processing times. 

Setting up a new account and funding it, especially when it is being transferred from another custodian, may take anywhere from 3 to 4 weeks. This is what beginners need to understand. 

The company is transparent and they quickly respond to any public reviews. If you are facing any issue, you are going to be heard.

PROS

  • It’s an easy-to-use platform where you can buy and sell assets within minutes
  • It takes just five minutes to clear orders
  • Place your orders 24 x 7
  • Monitor your portfolio 24 x 7
  • Customer service is offered through both phone and live chat

CONS

  • Only a few cryptocurrencies are available
  • They do not offer a mobile app

Conclusion

To conclude, cryptocurrency investment in a retirement account is a new trend. Only time will tell if it’s a good idea. The returns on cryptocurrencies have been remarkable so far but there are no guarantees over the long term.

An individual can hold as many IRAs as they want. The only limitation is the annual contribution limit. Also, it is always better to diversify your investments.

If you’re thinking of putting some of your retirement portfolio in cryptocurrencies, iTrustCapital is a good place to start when you compare them with other providers of self-directed IRAs.

While iTrustCapital is a newer business, they have built a solid reputation, but we do not recommend them if you are looking to protect your retirement savings with a Precious Metals IRA, there are much better options that 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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