Last Updated on March 16, 2023 by George
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There are numerous options available for those who desire to diversify their retirement benefits.
Although your work will likely provide various advantages, researching what other businesses offer is always worthwhile if you are trying to grow.
Purchasing gold or other precious metals might be a straightforward way to diversify your retirement portfolio while investing in cryptocurrencies can be more involved. Such choices allow you to choose your assets more freely, including cryptocurrency, if you desire.
Whether you are an experienced trader or a beginner, iTrustCapital is an excellent place to start. One of the top suppliers of cryptocurrency-based IRA retirement accounts is iTrust capital.
Due to the platform’s wide selection of digital coins and investment trading choices, anyone can design a personalized IRA.
Before you begin the review:
They understand how tough it can be to choose a business in which to invest your hard-earned money. They produce helpful and practical material because we want you to have as much information as possible to make the best decision.
The IRA accounts offered by iTrustCapital are focused on digital assets like cryptocurrencies and non-traditional assets like precious metals, gold, and silver.
The business’s user-friendly, IRS-compliant web interface is perfect for novices because it is both welcoming and compliant.
It is particularly encouraging for first-time investors who might initially find investing in precious metals and cryptocurrencies a little scary, making the website and its products incredibly helpful to their customers.
Since the creation of the website with non-technical users in mind, no prior experience with online investing is necessary to utilize it immediately.
Because iTrustCapital’s web interface complies with numerous industry standards for financial institutions and uses the most recent encryption software, clients may feel secure knowing that their investments are safe and secure.
iTrustCapital accepts regular IRAs, Roth IRAs, and simplified employee pension (SEP) IRAs, all three separate forms of IRAs.
The company will eventually handle all cryptocurrencies; however, its trading platform only currently supports the top eight, including Bitcoin, Litecoin, and Ethereum.
Cryptocurrency Trading and the iTrustCapital IRA
A beginner to bitcoin trading could initially find the idea vague and fragmented. But in reality, trading cryptocurrencies is very similar to trading other things. The procedure at iTrustCapital is easy to understand.
Opening a bitcoin IRA account is as simple as opening any other one.
To apply for an account, you must supply information regarding your finances, identity, and bank account in addition to other identifying details.
The user can fund the account and start trading cryptocurrencies after the application has been authorized or rejected, typically within three business days.
Using a USDA bank account or a self-directed Individual Retirement Account (IRA) is an option to finance an account. The fund may also receive a transfer from another self-directed IRA.
Individuals who do not already own accounts but have inquiries about doing so can contact customer care via live chat or phone for assistance while trading cryptocurrencies.
Currently, USD funds are the only ones used to finance iTrustCapital accounts.
Precious Metals Trading at iTrustCapital
For individuals worried about the state of the economy in the future and the potential of future recessions, precious metals have emerged as a desirable investment alternative.
Because they have a history of maintaining their value over time, precious metals are a desirable investment for people setting money up for retirement. Physical gold and silver trading is one of the investment possibilities provided by iTrustCapital.
Holders of ITC’s VaultChainTM have access to a portion of the Royal Canadian Mint’s gold and silver vaults, which they may use to purchase metals through iTrustCapital.
Customers have complete access to the titles of their holdings and can request physical delivery and buy or sell their metals at any moment. The vault is highly safe and is maintained and watched over by the Crown Corporation of the Canadian government.
Annual government audits are conducted on it, and daily real-time content reconciliations are performed. The service uses the Tradewind Platform to offer its customers safe and easy trading.
The platform uses some aspects frequently utilized in cryptocurrency trading, but the foundation of all assets is the physical trading of silver and gold.
Is iTrustCapital Insured?
Investors’ worries about insurance coverage are legitimate, given the high value of the commodities traded on iTrustCapital.
Curve, a PayPal company, protects up to $50 million in assets for iTrustCapital accounts. The Federal Deposit Insurance Corporation offers further protection (FDIC).
Tax Benefits of an iTrustCapital IRA
If you’re starting, you might need clarification about how your new assets will influence your yearly taxes. The cryptocurrency IRAs offered by iTrustCapital are treated by the IRS in the same way as traditional IRAs, with all the advantages and tax advantages.
To put it another way, iTrustCapital IRAs allow for tax-deferred growth. You can open a standard IRA or a Roth IRA account, in which case you will only be taxed when you take money out of the account.
If you’re still a few years from retiring, it’s challenging to forecast how this will impact your taxes in the future, making it a hazardous plan.
Account holders should constantly stay informed of such developments and seek the counsel of tax professionals if they have any worries or inquiries.
The Available Cryptocurrencies
For those wishing to diversify their IRA accounts with cryptocurrencies, iTrustCapital provides a wide choice of possibilities, including the following options:
- Bitcoin (BTC) (BTC)
- XRP (XRP) (XRP)
- Litecoin (LTC) (LTC)
- Ethereum (ETH) (ETH)
- Polkadot (DOT) (DOT)
- Cash Bitcoin (BCH)
- Stellar (XLM) (XLM)
- EOS (EOS) (EOS)
There are already more than a hundred different kinds of cryptocurrencies accessible in other markets, but ITC only offers the most stable ones.
These eight have been around for the most extended period. In contrast to fly-by-night cryptocurrencies that sprang from fads and memes and vanished, they have proven to have staying power and actual worth.
Today, Bitcoin, Ether, and Litecoin are recognized as legal tender in many international markets and sectors.
At iTrustCapital, fees are transparent and inclusive of the following:
- Only 1% of a cryptocurrency’s investment value is traded.
- A month’s worth of service costs $29.95.
- Purchases of physical gold are $50 per ounce more than spot.
- Purchases of physical silver are $2.50 per ounce more than spot.
Comparing iTrustCapital’s fees to some of its competitors, they are inexpensive. Their Individual Retirement Account (IRA) is a unique and competitive service.
How Do I Protect My Assets?
Given the recent increase in identity theft and cybercrime, investors and consumers alike are understandably concerned about the security of online transactions.
As a result, iTrustCapital uses a few redundant methods to protect its client’s assets and personal data. iTrustCapital uses multiple layers of protection besides Curv’s security to safeguard user accounts.
ITC uses industry-standard multi-level authentication mechanisms to protect its users’ accounts and wallets, just like many banks and other financial organizations.
Two-factor authentication (using a secure email address and a mobile device to get a one-time login code) is necessary when a user logs in.
Unless they also have access to the authentication device linked to the account, this prohibits hackers from accessing it.
Support for Clients
The account holder will be reassured if things go differently than expected regarding money, investments, and priceless possessions. Because of this, we are providing excellent customer service is crucial to every investing organization.
Well-known for its dependability, iTrustCapital offers technical help by phone and chat at all hours of the day and night.
You can either email or have a scheduled phone conversation with a customer service representative to respond to inquiries from non-account holders rapidly.
Customers considering opening an account can acquire the answers to their queries before deciding.
iTrustCapital IRA Frequently Asked Questions
iTrustCapital provides outstanding services for long-term IRA investments in cryptocurrencies and precious metals, as this article demonstrates. There are undoubtedly some questions that have yet to be addressed, though.
The following are some of the most typical questions we get from new clients:
What kind of financial guidance does iTrustCapital offer?
You can see basic price tracking charts for various assets after creating an iTrustCapital account. They are straightforward, but they work well for investment.
They also provide a thorough information base to help you maximize the use of your IRA. Financial advisors do not offer investment advice.
Can I move the funds in my current IRA to a new one?
It is simple to transfer funds from an existing self-directed IRA or a crypto IRA from another provider to an account with iTrustCapital. Even if your investments are in cryptocurrencies, moving them shouldn’t require liquidating them.
If an employer retirement plan currently supports your IRA, there may be additional limitations on how and whether you can roll it over.
Speak with the person managing your retirement plan to determine if you can convert your IRA to a self-directed crypto IRA. You cannot transfer your current cryptocurrency holdings to a crypto IRA.
It is because the IRS sees cryptocurrencies as property rather than as a kind of money. To add bitcoin to your IRA, you must first sell your existing holdings before using USD to purchase new cryptocurrency with iTrustCapital.
Where do I keep my precious metals?
The gold and silver acquired through iTrustCapital are stored and guaranteed by the Royal Canadian Mint, which the Canadian government controls.
The ownership of precious metals is tracked using the same blockchain-based distributed ledger technology that underpins cryptocurrency.
Does the amount of money that can be invested have a minimum or maximum?
You can make as many investments as you choose in your retirement account (IRA). You’ll need to make a $2,500 down payment to get started.
Your annual contribution amount can be restricted if you fund your IRA with after-tax funds.
Is There a Time Limit to Take Money Out of My IRA?
You can take funds from your IRA the same way you can from any other individual retirement account after you reach the age of 59 1/2. A 10% early withdrawal penalty on top of your ordinary income tax may apply if you take your money out too soon.
How long does it take to set up and fund an IRA?
A new IRA can be formed within 1-3 business days of receiving your application. The amount of time needed to start investing varies depending on the method you pick to fund your account.
An IRA transfer takes one to two weeks, an employment plan rollover takes three to four weeks, and a direct contribution takes one week.
Advantages and Disadvantages
iTrustCapital offers a wide range of top-notch services, but before making a final investment choice, new account holders should know all the company’s restrictions.
Although iTrustCapital offers outstanding services and the advantages outweigh the disadvantages, new account holders should become familiar with the firm’s restrictions before making a final investment choice.
Pros and Cons
- No setup or storage costs apply.
- Orders are fulfilled in under five minutes.
- Low fees apply.
- Utilizing the platform is simple.
- Orders are carried out promptly
- Assistance offered for setting up new user accounts
Final Thought – ITrust Capital Review: Should They Be Your Crypto And Precious Metals IRA Option?
iTrustCapital is an excellent resource for anyone who wants to include cryptocurrency trading in their retirement plans.
With its retirement bitcoin investments, iTrustCapital is at the forefront of the drive to include cryptocurrencies in IRAs.
As a result, one can relax knowing that his retirement portfolio is well-diversified and includes reliable assets like precious metals and potentially profitable yet erratic assets like cryptocurrencies.
Adding diversity to your retirement portfolio is a good idea. If you want to put only some of your eggs in one basket, iTrustCapital’s cryptocurrency and precious metal IRAs are a terrific place to start.