iTrustCapital Review

iTrustCapital is a self-directed IRA provider that lets you trade in cryptocurrencies and precious metals. Is it a legit option for your retirement account?

	Open a Crypto IRA and Get $100 Bitcoin Reward $100 Bitcoin Reward
	Overall Score	4.0
	Cryptocurrency Trading	4.5
	Commissions and Fees	4.5
	Ease of Use	5.0
	Research	2.0
	Safety	4.0

5-point scale (the higher, the better)

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Pros and Cons

• Tax-free or tax-deferred trading
• Low trading fees
• No monthly fees

• Limited research tools

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Bottom Line

Good IRA provider for tax-advantaged access to crypto and gold & silver

Want alternative investments in your IRA? The process isn't so simple.

That's where iTrustCapital comes in.

iTrustCapital lets you buy and sell cryptocurrencies like Bitcoin and Ethereum, as well as gold and silver, through a self-directed IRA.

Find out if iTrustCapital is a safe option and how it compares to Bitcoin IRA and Coinbase in this review.

What is iTrustCapital?

iTrustCapital is a self-directed IRA provider headquartered in Irvine, California and founded by CEO Morgan Steckler in 2018.

With iTrustCapital, investors can trade in alternative assets like cryptocurrencies, gold, and silver, 24 hours a day, with all the tax advantages of retirement investing.

iTrustCapital is best for those who want to add major cryptocurrencies, gold, and silver to their IRA, and those who are interested in maintaining those strategies over the long term.

How Does iTrustCapital Work?

iTrustCapital's business model is fairly simple. They make it possible for users to add non-traditional investments (cryptocurrencies and precious metals) to their IRAs.

Just like other IRAs, iTrustCapital's crypto IRAs offer tax benefits. Depending on whether you choose a Traditional or Roth IRA, your account will be either tax-deferred or tax-free.

Traditional IRAs are funded with pre-tax dollars and taxed at time of withdrawal. Roth IRAs are funded with post-tax dollars, but tax-free to withdraw from. Which is better depends on whether taxes are higher or lower at time of retirement, which unfortunately there's no way to predict.

You can fund your account by either transfering an existing IRA, rolling over an existing employer plan, or funding an entirely new IRA account.

Once your account is funded, you can use iTrustCapital's platform to buy and sell the assets you want. The trading platform is live and available for trades 24/7.

They display all available assets in an easy-to-read list and provide pricing info for each. Buying or selling an asset is as easy as clicking a button: "Buy" or "Sell".

They have straightforward trading fees at 1% per transaction. They require $1,000 minimum to begin, plus $500 in a subsequent deposit.

iTrustCapital is only available to citizens of the United States.

What Cryptos are on iTrustCapital?

iTrustCapital offers the following cryptocurrencies for investing:

• Bitcoin
  
• Ethereum
  
• Polkadot
  
• Litecoin
  
• Chainlink
  
• Bitcoin Cash
  
• Stellar
  
• Eos
  
• Aave
  
• Dogecoin
  
• Uniswap
  
• Compound
  
• Sushi
  
• yearn.finance
  
• Curve DAO
  
• Enjin
  
• Basic Attention Token
  
• Gold
  
• Silver
  
• Avalanche (AVAX)
  
• Axie Infinity (AXS)
  
• XRP

How to Get the Best iTrustCapital Deal

With iTrustCapital, your IRA can hold more than the usual stocks and bonds. Sign up today and get their best offer while it lasts:

Most Popular

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Fees to look out for

iTrustCapital has a fairly uncomplicated fee structure:^[1]

• Cryptocurrencies: 1% per trade
  
• Gold: $50 over spot (market price)
  
• Silver: $2.50 over spot
  
• Account Minimum: $1,000

Your money goes toward the following:

• IRA setup
  
• Facilitation of transfer/rollover/contribution to fund IRA
  
• IRS/tax reporting
  
• Unlimited storage with institutional custody partners
  
• iTrustCapital platform support and maintenance

The only other fee they charge is a $75 fee to convert a Traditional IRA to a Roth IRA or SEP IRA. Note that this would trigger a taxable event.^[2]

Pros and cons

Pros

• Easy-to-use, 24/7 trading platform
  
• Trades clear within 5 minutes
  
• Tax-free or deferred crypto investing
  
• Live chat and phone customer service
  
• Relatively low fees
  
• Educational resources in their Knowledge Center
  
• Mobile app: Android and IOS

Cons

• Doesn't provide investment advice

Security Measures and User Privacy

iTrustCapital employs a variety of security measures to ensure that your assets are safe.

• iTrustCapital partners with Fortress Trust, a regulated state-chartered trust company, to serve as a custodian for client assets.

• Gold and Silver are held at the Royal Canadian Mint and traded on VaultChain, a secure blockchain-distributed ledger.

• Uses two-factor authentication (2FA) using one-time passwords sent by SMS, voice-based 2FA, or by Authy App Token (Apple, Google Play).

Common Complaints

While the overwhelming majority of reviews for iTrustCapital are positive—over 90% either great or excellent—they have received some complaints. These are usually due to customer expectations over processing times.

Setting up an account and getting it funded, especially when transferring from another custodian, can take as long as 3-4 weeks, and it's important to understand that going in. Fortunately, iTrustCapital responds to public reviews, so if you have an issue, you'll likely be heard.

How to Get Started on iTrustCapital

Creating an account with iTrustCapital is fairly straightforward.

1. Create an account on their website, providing name, password, and phone number.

2. Confirm your email.

3. From there, you'll start your application, providing more in-depth personal information, like DOB and Social Security number.

4. Choose a type of account (Traditional IRA, Roth IRA, SEP IRA) and funding method (transfer, rollover, cash contribution).

5. Identify a beneficiary.

6. Link a debit or credit card.

7. Wait for your application to be processed; you'll receive an email to DocuSign your application.

For a full step-by-step walkthrough from iTrustCapital, visit their site here.

How to Fund Your Account

There are three ways for users to fund their accounts at iTrustCapital.

• Employer Plans: Investor retirement plans can be rolled over in the case of a job change. The transfer should be completed in 3 to 4 weeks.

• Contributions: Investors can choose to contribute regularly based on yearly guidelines. These transfers should take a week to complete.

• Transfer Existing IRA: Investors can transfer existing IRAs. (Traditional, Roth, SEP, Simple, Inherited). These transfers have a waiting period of roughly 1-2 weeks.

Contact Customer Service

Users can contact customer service at iTrustCapital by

• Scheduling a call on their website
  
• Starting a live chat (From your homepage, click on the green "Chat Live" button)
  
• Calling (562) 600-8399 Monday - Friday: 8AM - 12PM PT; 2PM - 5PM PT

Calls are limited to 10 minutes per client, so know what you need before calling.

There is a "Message Us" button at the top of every page on their site, including when you log in to your personal dashboard. They say that this is the best way to reach them at busier times. They typically respond to urgent requests the same day.

iTrustCapital Alternatives

There aren't a ton of options for cryptocurrency retirement investing. Below, see how iTrustCapital stands up to one direct competitor, Bitcoin IRA, and to Coinbase, a popular cryptocurrency exchange.

iTrustCapital vs Bitcoin IRA:
Bitcoin IRA is another self-directed IRA provider similar to iTrustCapital. In many respects, the two companies are quite similar.

They both allow easy investment in a limited number of cryptocurrencies and precious metals for retirement purposes, and offer comparable security features.

The main difference between the two is the fees. Bitcoin IRA charges a one-time set-up fee of 0.99% to 2.99% of deposited funds and a monthly fee of 0.08% of assets under management, whereas iTrustCapital does not charge any monthly fees. Plus, Bitcoin IRAs charges 2% fee on trades, which is higher than you'll pay at iTrustCapital.

Based on the fees alone, iTrustCapital is probably the better choice.

iTrustCapital vs Coinbase:

		CoinbaseBitcoin IRABitIRARobinhoodeToro
	Visit Site	Learn More
	iTrustCapital	Coinbase
	SPECIAL OFFER Open a Crypto IRA and Get $100 Bitcoin Reward - Learn More	SPECIAL OFFER Earn $5 in bitcoin on your first trade on Coinbase - Learn More
	Benefits and Features
Stock Trading		No
Options Trading		No
Minimum Deposit	$1,000	$2
Cryptocurrencies Supported	Basic Attention, Enjin, Cosmos, Tezos, Curve DAO, Aave, yearn.finance, Sushi, Compound, Uniswap, Stellar, EOS, Bitcoin Cash, Dogecoin, Litecoin, Polkadot, Chainlink, Ethereum, Bitcoin, Avalanche, Maker, Shiba Inu, Axie Infinity	200+
Countries Supported	U.S.	Over 100
Fiat Currencies Supported	USD	USD, GBP, EUR
Digital Wallet	Yes	Yes
Transaction Fee	Cryptocurrency: 1% per trade Gold: $50 over spot (market price) Silver: $2.50 over spot	Greater of Minimum Flat Fees or Variable Fees (1.49%+) by Location and Payment Method. Minimum Flat Fees: < $10: $0.99 $10.01 - $25: $1.49 $25.01 - $50: $1.99 $50.01 - $200: $2.99
Mobile App		Yes
Wire Transfer Fee	No	$10 ($25 outgoing)
Cold Storage	Yes	Yes
Two-Factor Authentication	Yes	SMS or Google Authenticator
Withdrawal Limit	None. 10% penalty under 59 1/2 years old	$50,000 / day
	Visit Site	Learn More
	Open a Crypto IRA and Get $100 Bitcoin Reward View Asset Selection iTrustCapital Knowledge Center	Earn $5 in bitcoin on your first trade on Coinbase Buy and Sell Cryptocurrency Learn Crypto, Earn Crypto
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. iTrustCapital: Pricing information from published website as of 02/08/2022. Coinbase: Pricing information from published website as of 04/13/2021.

The main advantage that iTrustCapital has over Coinbase and exchanges like it is its tax-free or tax-deferred trading and gains.

Assets like Bitcoin, when traded through a traditional exchange like Coinbase, are subject to the capital gains tax, which will impact your final earnings as an investor.

Coinbase offers a much wider range of cryptocurrencies, currently around 50, and is available internationally, while iTrustCapital is limited to U.S. citizens.

Coinbase has per-transaction fees that are much higher and more complex than iTrustCapital's flat 1%. However, when you're investing with a retirement account, you aren't able to withdraw without penalty until the age of 59 1/2.

If you're interested in investing in a few major cryptocurrencies like Bitcoin with a long-term view, iTrustCapital may be right for you. If you simply want to get into the crypto market, consider an exchange like Coinbase.

FAQs

Does iTrustCapital have monthly fees?
iTrustCapital does not have a monthly or yearly account fee. There are also no set-up fees or rollover fees. The only fees they charge are a 1% crypto transaction fee, $50 gold transaction fee, and $2.50 silver transaction fee (over spot per ounce).

How much does it cost to start iTrustCapital?
iTrustCapital has a $1,000 minimum to open an IRA account. On top of that, there's a 1% transaction fee if you're buying crypto. Each additional contribution is $500 minimum.

How do you get money out of iTrustCapital?
Because it is a retirement account, you won't be able to withdraw your money from an IRA without penalty until age of 59-1/2. To withdraw, you need to submit a request. Distributions will take up to 7-14 business days after you've signed the withdrawal form.

Bottom Line: Should You Use a iTrustCapital?

Ultimately, only time will tell whether investing in cryptocurrency as a way of saving for retirement turns out to be a good idea. Historical returns have been remarkable, but there is no guarantee that the market will keep trending upward until you're ready to start drawing on your savings.

However, there is no limit to the number of IRAs a person can hold (though there is an annual limit to contributions). Diversification is always considered a good idea when investing.

If you are considering adding cryptocurrency to your retirement portfolio, iTrustCapital is a good place to do it, compared with similar self-directed IRA providers.

References