You don’t happen to be finding yourself enticed with the idea of saving more for the rainy days and joining the cryptocurrency world, are you?
Today, it might be a good idea to learn more about the tax-advantages individual retirement account in my exclusive iTrustCapital IRA review.
Where’s your money right now? 💰
Before you get the wrong idea, I’m not trying to rob you or anything. I just want you to step back and assess where exactly you are putting your hard-earned cash to preserve its value and make it work for you.
Some of my readers might be doing tons of side hustles and putting up small-scale businesses, but without proper planning, I am afraid to say that you won’t see your money’s true potential.
The past year has undoubtedly changed the way we save our assets. 😷
When you ask people what their savings strategy is, they will usually say that they park money on a savings account or time deposit.
I’m not saying there’s anything wrong with that; besides that, your money is not beating the inflation rate, and it is practically losing its value by doing so.
Add to this is that when the COVID-19 outbreak knocked at our doors, many people were left with no choice but to withdraw their life savings.
And as withdrawal rates spiked, the account holders also realized that their money (whatever their amounts were) earned only a few cents to a dollar despite being held in the bank for a long time.
My realization about that? When you keep your money in low-interest accounts, you are hindering it from growing in value.
Given that situation, many of us have started visiting Google (our first port of call) and research the ultimate ways to diversify our portfolio and build a better financial roadmap.
And if you did your homework, then you must know that the best way to get more money out of your money is by doing any of the following:
- Investing in real estate
- Joining the craze around the stock market
- Financing a cryptocurrency wallet
- Creating a business where you can get the capital back fast
If you have been trying any of those, I am pretty confident that you will soon be on the right track to success. However, I don’t think that all of those listed above are worth your time.
For instance, if you do not want to experience a rollercoaster ride with the market, then being a stock or cryptocurrency trader may not be a wise choice. But, if you are willing to take risks, then there are some platforms that you should consider.
In today’s post, I will share my honest iTrustCapital IRA review, which is geared for investors looking to add investments such as metal or cryptocurrency using a long-term approach. ⭐
It is basically a modern take to self-directed IRA with a new range of assets for your retirement.
Before we start, though, let me just clarify that I am in no way, shape or form connected to the company, nor am I being paid to write this post.
What you will find here are my honest thoughts about this platform and whether it is something you should be joining this year.
By the end of this post, I will share my most recommended way of earning consistently without all the hassle.
Now that that is out of the way, let’s hop to the review. 😊
iTrustCapital IRA Review
IRAs provide essential benefits as they allow you to grow your money without paying income tax on all your investment gains until withdrawn.
IRAs are for retirement purposes, and they come with several forms such as traditions IRAs (tax-deductible), Roth IRAs (not tax-deductible but will offer tax-free services for qualified distributions), SIMPLE IRAs (tax-deductible but is created for employees and small businesses), and SEP IRAs (for freelancers and independent contractors).
Born out of the public’s need for a more flexible individual retirement account, a new type was created, and this is what we fondly call the SDIRA or the Self-directed IRA.
SDIRA works the same with the aforementioned types, but the only distinction is the asset in this account.
Instead of traditional ones, this includes different, less typical retirement investments such as real estate, non-traded businesses, cryptocurrencies, and commodities!
In other words, the possibilities here are endless! 🙂
However, opening an account may not be as easy as it seems since you will need a specialized custodian.
As long as you are not investing in a farm horse or any weird ones, I firmly believe that you can still find SDIRA providers online. If you are interested in cryptocurrencies or gold and silver, then iTrustCapital has you covered.
It offers a range of assets such as the following:
- Bitcoin Cash
- Physical gold and silver
iTrustCapital is relatively new in the market, but it has quickly become a significant form in the cryptocurrency scene.
It was established in 2018 with the goal of providing digital assets while ensuring that customers will get real-time access to their accounts through the straightforward platform.
Customers can buy and sell cryptocurrencies from the platform accessible via the web within just 5 minutes!
The platform is easy to navigate, but please note that it does not have a vast range of analysis tools, as you can probably see from other trading brands (like Option Alpha’s toolbox for testing trades).
But on the brighter side, iTrustCapital’s platform will not look overwhelming and discouraging for beginner investors.
As of writing, it does not have a specific mobile app, but the website is optimized for mobile viewing, so you will not run into any problems at all.
Given its flexibility, I was pretty surprised to know that it does not have a massive following on social media. Facebook has around 494 people following it, 5.3k on Twitter, 582 on LinkedIn, and 679 on Instagram.
But, we cannot blame the company as not everyone has positive experiences regarding cryptocurrencies. With this, I fully understand why there are only a few followers. 😄
Fortunately, I found out that it has a high yield of 4.5 customer ratings on Trustpilot and AAA’s Business Consumer Alliance rating.
It does not have a BBB profile yet, but it also garnered 523 positive reviews earning it a 100% safe index on ScamAdviser. By having such positive reviews online, I firmly believe that this company is worth looking into.
What makes the company attractive is that it simplifies buying and selling transactions anytime you want. It also comes with a transparent fee structure from funding, trading to securing your assets.
Add to that is that there are no setup or storage fees collected once you sign up with them.
To begin investing, you will need a minimum of $2500 plus $1000 for subsequent deposits. I will discuss this further in the following few parts.
Regarding creating an account, the iTrustCapital is a walk in the park and will only require you to pass two things:
- a copy of an identification card
- your current statement of account.
They will also be needing your full name, address, social security number, and date of birth for their file. Subsequently, you will be required to choose the type of IRA account you want to set up with them:
In terms of the services they offer, I find the following as some of the drawbacks of the company:
they do not have offered a lot of cryptocurrencies under their belt (or maybe they are just focusing on the most stables ones, so perhaps this is a good thing too)
If you intend to use the platform as an IRA, it is worth paying the monthly fee of $29.95. However, if you plan to use it only to trade, you might do this for free using other platforms instead. If you decide to do so, the only problem is that you will need to secure your own cryptocurrency wallet.
the company does not offer a proprietary mobile application where you can get push notifications directly on your mobile devices
I believe that iTrustCapital is a tremendous individual retirement account provider guaranteed to be secured despite my stated cons.
Of course, since this is still new in the market, you cannot really find much about historical data, so we still have a few more years or so to aggregate more data about the customers’ perceptions.
But for me, the fact that it comes with a straightforward process makes it a suitable choice for beginners.
Is iTrustCapital Safe?
iTrustCapital has been featured by Investopedia, Forbes, Business Insider, Tech Geeked, and Money as one of the most reputable brands in terms of IRA trading of digital assets.
If companies like those are constantly featuring it, then we can already say that it has earned the respect of the online community. But how about its actual security features?
Allow me to answer this now. 😇
It is safe as it uses military-grade security, making it a more convenient choice than other platforms with hacking incidents like what recently happened to Altsbit and Binance.
iTrustCapital maintains its excellent infrastructure by connecting corporations with multi-authentication protocols: Curv and an official government mint.
Unlike other platforms, the iTrustCapital is much safer, and it does not allow you to have self custody of your assets.
This move ensures that you will not be prone to attacks online since it provides you with institutional custody of your assets through a company called Curv. ✅
Curv is a cloud-based wallet known to handle Etoro, FalconX, BitBond, BNP Paribas, and SwissBorg. It has enterprise-grade security with an insurance partnership with Munich RE.
Suppose you will use the platform to buy physical metals. In that case, you don’t have to worry because iTrustCapital uses the highly secured system known as the VaultChain of the Royal Canadian Mint, a corporation owned by the Government of Canada.
Is iTrustCapital Worth It?
In all seriousness, I think that this is worth it only if you are hell-bent on the idea of investing in cryptocurrencies.
You see, we cannot deny the fact that this type of investment vehicle is still unstable, but if you firmly believe in its capacity, then, by all means, go and try it out with iTrustCapital.
In this part, I will be explaining to you how exactly the fees work. You see, the company indeed offers the most affordable costs when it comes to trading and investing cryptocurrencies and metals.
Other companies usually implement 15% of the total transaction to be the fee for each executed trade—however, iTrustCapital charges just 1% per transaction (regardless of the price). If you purchase physical metal, the payment will be around $50 over the spot per ounce.
The only downside here is that you will have to pay a monthly fee of $29.95, which includes the following:
- Setup of your new IRA
- Facilitation of transfer/rollover
- All the IRS/Tax related reporting needs (and printables)
- Unlimited storage for the digital assets
- 24/7 support and maintenance
The facilitation of transfer works only if you already have an existing individual retirement account or private employment plan.
iTrustCapital offers some of the most affordable tradings and investing fees. While paying up to 15% per transaction to trade cryptocurrencies is not uncommon, iTrustCapital charges just 1% per transaction.
Clients also pay a reasonable $29.95 monthly service fee and are charged no initial purchase fees, broker fees, or scaling based on the size of their assets.
Well, that is all you need to do because based on the customers’ experiences, there was never a time when the company would spam you with unlimited emails about upgrades and all that.
Now that is high-quality customer service. 👍
Is iTrustCapital a Scam?
I have reviewed everything there is to know to find dirt about the company, but it appears that the iTrustCapital IRA is clearly a real thing and not a scam.
I personally like that it is continuously updating its services, as reflected by the recent addition of Stellar lumens cryptocurrency. Additionally, it helps simplify the process of buying gold and silver digitally!
In terms of security, it comes fully equipped with the right blend of services by partnering with Curv and the Canadian Mint.
The whole process of joining them is also easy, as you can just head to their website and request a call to walk you through the exact procedure.
I hope that they try to create a secured mobile application for added convenience in the future. It is a great platform, but it is only as good if you have enough funds to top up your account.
What if I tell you that you can earn enough and consistently fund your account from a purely digital business? Yep, you can do that by joining many others and me in my most recommended way of earning online.
How I Make A Living Online
Cryptocurrency trading can indeed put more money in your wallet in just a short period. Still, we cannot deny that the market is volatile, meaning there is also a significant chance of losing money.
Bearing in mind the above, I would like to take this chance to introduce you to the very same business model that granted me this freedom, and at the same time, show you the exact step-by-step process of how I make a living online.
You could say that my method of earning is for those interested in attaining financial freedom, but as appealing as it may sound, it requires a lot of attention, perseverance, and a little bit of elbow grease.
My favorite approach to making a good buck online is much more stable and way more sustainable to the point it can give you plenty in return, as long as you’re willing to dedicate yourself and put in the amount of time it takes to make it.
So, the best way to get familiar with how I bring home the bacon without more ado is to look at my money guide, as it clearly explains everything you’ve always wanted to know about making money online. 💸🥓
It shouldn’t take you more than ten minutes to finish the entire thing, even if you’re a slow reader like myself.
Inside it, I discuss what got me started on this journey, how I overcame even the most crippling setbacks, and even share what I firmly believe is the best way to get started with less than $1.38 per day.
Although my recommended path to financial freedom does call for a small investment, you should bear in mind that it’s nothing compared to the number of benefits you can end up with.
I’m not sure if this is your first time hearing about it. ☺️
Still, the business model I’m dealing with is widely recognized as affiliate marketing and is by far the best possible, most suitable route to get started in this online chaos as a beginner.
I love it because you possess the success formula that puts you in control of your destiny, which means you don’t have to deal with any external factors. Your earning are solely dependent on the amount of work you’re willing to give into it.
You see, as much as I want to sugarcoat this and tell you that it’s a walk in the park, affiliate marketing is undoubtedly a competitive field.
Whatever you do, please don’t let a bit of competition freak you out since it’s only a clear indication that there’s money to be made.
It is not something that you can establish overnight and earn thousands the next day, but on the other hand, I firmly believe that once you get to know how the system works, you’ll enjoy every step of it.
Although it will require time and effort on your part, I don’t have reservations in thinking that if you’re genuinely passionate about it, you can join the ranks of some of the elites and live to one day tell your own fantastic success stories to the world.
I think it’s about time I wrap this iTrustCapital IRA review, so hopefully, I was able to give you a solid answer of whether this retirement platform is a complete waste of time, money, and an absolute scam or not.
Lastly, I wish you the best of luck no matter what road you choose to follow, and if you happen to have any inquiries or know a way that I can help, feel free to leave a message below. 👋
I do not know much about cryptocurrencies.
Does it give you information to learn about each asset before you choose what to invest in? I see a 29.95 monthly fee listed. How much do other companies charge for expenses for an IRA?
I wouldn’t even dare to invest without researching each asset beforehand. I always advise investors to do their due diligence before taking any further steps. Supposing is good, but finding out is better.
As for the expenses, other IRA’s charge similarly. For instance, BitIRA (iTrustCapitals competition) charges around $200 annually, plus a $50 account establishment fee. It’s pretty much the same, but not quite.
Thank you for this article.
Covid 19 has definitely caused many people to wake up and start thinking about the long term effects of their money.
I know for a fact that a lot of people are trying to invest in different side hustles now, but most fail to understand that this takes time.
For example, if you want a side hustle to give you good returns, the best thing to do is build skills, and it is undoubtedly true also with trading and stuff like iTrustCapital.
It’s like you’re reading my mind right now. The thing is, not a lot of people are persistent enough to withstand the test of time and end up quitting before they even get there.
I have one word – patience.
I have not heard of ¡TrustCapital before, but it has to be good if it’s featured on Forbes.
For a while, I was looking to invest in cryptocurrencies, but I don’t understand them very well, and so far, I have not done much with my Binance account. I don’t know if I’ll continue it if I’m honest.
Is ¡TrustCapital available internationally or only to US residents?
iTrust Capital is available worldwide.
I would advise you to stay away from e-coins until you get to understand them properly. Trust me; you can end up losing a ton of money if you’re not careful, and that’s me speaking from experience.
This advice might just save you thousands.