iTrustCapital Review: The Leading Crypto IRA Platform

If you’re interested in making the most of crypto, one way to do that is by investing in a tax-advantaged Crypto IRA.

This decision requires trust, as you are looking at a platform that could last for decades. Therefore, reliability should be a top priority when opening an IRA.

This is where iTrustCapital comes in.

iTrustCapital Overview

iTrustCapital is a leading fintech software platform for alternative assets founded in 2018. The company provides 24/7 access to digital assets, cryptocurrencies, and precious metals through self-directed, tax-advantaged IRA, and Non-IRA account options.

Its platform offers low fees for buying and selling cryptocurrencies and precious metals.

Currently, it has over 90 cryptocurrencies, which you can buy, sell, or invest in Traditional, Roth, and SEP IRAs. iTrust’s fee-free structure and simple use make this platform an excellent choice for beginners who wish to start crypto investing.

The platform is available on desktop and has a dedicated mobile app (iOS and Android).

IRA Account Basics

First, a quick reminder about the basics of Individual Retirement Accounts or IRAs, as there are three types of iTrustCapital IRAs available.

A traditional IRA is pre-tax, meaning you don’t pay taxes when you deposit, but any withdrawals will be taxed as income. A Roth IRA is similar in structure, only your investments are taxed; when you become eligible to withdraw the funds, you are free to do so without any taxes pending.

And there is also the SEP IRA or the Simplified Employment Plan, which will benefit most self-employed people. If you want to know more about these and other types of IRAs or how to open an account, you can read about them in our article.

Crypto IRA

With an iTrustCapital crypto IRA, you can invest in cryptocurrencies with your retirement funds. Another benefit of using the platform is buying and selling precious metals and investing those assets in your IRA. If you need further help on how to invest in crypto, we suggest you read our guide on this subject.

Besides the difference in funding options offered, your iTrustCapital crypto IRA is going to adhere to the same rules and regulations as any other IRA, and you will be eligible to collect the funds according to the rules of the specific IRA you have.

You can also stake in the account, as well as place conditional transacitons, and recurring buys.

How To Open An Account

Setting up an account is easy: A step-by-step guide on the website will walk you through the process. After you fill in the application with your personal info, the team reviews your application and replies within one to three business days.

We suggest you take advantage of the educational features this website offers to get acquainted with the benefits of each IRA, so you may choose what best suits you. If you’re interested in more options, we recommend you browse our list of IRA funds that will help you save tax money with your investments.

Fees

iTrustCapital has low fees, and doesn’t have recurring monthly maintenance and support charges. Also, all transfers, rollovers, and contributions to fund your IRA are fee-free.

The transaction fee will be only 1% when you're buying or selling cryptocurrencies. Gold and silver transaction costs are based on the spot price (the current open-market price of precious metals). The transaction fee for gold is $125 over spot per ounce (buys/sells) and $3.95 over spot per ounce for silver for buys and $1.50 for sells.

You can transfer your crypto from other platforms without having to sell it. But there is a one-time conversion fee of $75 that you’ll need to pay when you wish to convert your Traditional IRA into a SEP IRA or a Roth IRA account.

Mobile App

iTrustCapital has a mobile app available for both Android and iOS users. You can use it for the same transactions as the web platform - cryptocurrencies, gold, and silver.

The app is easy to use, but there have been reports of it crashing from time to time. It has average reviews, but the team seems very invested in improving this part of its service.

Downsides to Consider

There is always room for improvement, and this is true of iTrustCapital. For one, we thought it could expand its current array of cryptocurrencies.

The current list of coins includes some of the most important crypto assets on the market like Bitcoin, Ether, Dogecoin, and EOS. However, there is no Tether (USDT) or USD Coin (USDC) on the list, which are some of the most popular stablecoins on the market.

Apart from broadening its selection of crypto assets, another area where we thought iTrustCapital could improve are the investment possibilities the company offers.

Indeed, the iTrustCapital crypto platform allows you to invest in gold and silver as alternatives to crypto, which is a great perk, but there are also platforms that allow you to invest in other asset classes, such as venture capital, private credit, or real estate.

Customer Support

You can reach iTrustCapital customer support via phone. If you don’t want to stay on hold, you can schedule a call in advance. You can also log in to your account and chat live with customer support. For those without an account, there is a help box on the website where you can make inquiries about the service, and the support team will answer you through email within a couple of hours.

Final Verdict

Finding a reliable crypto investment platform might seem pretty complicated, more so if you're just beginning to get into crypto. This is especially true if you’re planning to make an investment that’s as long-term as an IRA.

In this review, we looked at the pros and cons of this low-cost crypto platform to test the waters and see if its offer is worth your investment. We found that its ease of use, good customer service, and attractive fee structure show promise, especially for novice traders.