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iTrustCapital is a self-directed IRA platform offering cryptocurrencies, precious metals, and more.
iTrustCapital/Insider
Bottom line: iTrustCapital is best for investors who want to take a different route to amassing retirement wealth. It offers self-directed IRAs (SDIRAs) that let you build wealth with cryptocurrencies and precious metals like gold and silver. It also offers competitive fees and staking on polkadot, but it has a limited cryptocurrency selection and no mobile app access.
Overall rating
FeatureInsider rating (out of 5)Fees4.50Investment selection4.25Access4.50Ethics4.75Customer service4.25Overall score4.46
Is iTrustCapital right for you?
Founded in 2018, iTrustCapital is an SDIRA platform that lets you invest in IRAs with alternative assets like cryptocurrencies, silver, and gold. The platform offers multiple IRA types — including traditional, Roth, SEP, and SIMPLE IRAs — and it allows for crypto staking rewards of up to 9.5%.
However, keep in mind that you can only stake one cryptocurrency (polkadot), and you’ll only be able to fund your IRA with US dollars.
iTrustCapital vs. Bitcoin IRA
iTrustCapital
Bitcoin IRA
Min. Investment
$1,000 (Contributions after this amount must be $500 or greater)
Min. Investment
$3,000
Fees
1% per trade
Fees
3.99% one-time fee; 2% trading fee
$100/month Saver IRA
Balances under $25,000: $20/month; balances over $25,000: 0.0008%
Investment choices
Cryptocurrencies and precious metals
Investment choices
Cryptocurrencies and gold
iTrustCapitalBitcoin IRA
iTrust Capital and Bitcoin IRA both offer exposure to cryptocurrencies and precious metals. But iTrustCapital is the better choice for investors in search of silver and account options like staking.
Bitcoin IRA only offers cryptocurrencies and gold, but iTrustCapital offers cryptocurrencies, gold, and silver. iTrustCapital is also the cheaper option when it comes to transaction fees, but Bitcoin IRA is best for cryptocurrencies and automated features. It offers more than 60 crypto assets, and its Saver IRA allows for automated contributions.
iTrustCapital vs. CoinIRA
iTrustCapital
CoinIRA
Min. Investment
$1,000 (Contributions after this amount must be $500 or greater)
Min. Investment
$5,000
Fees
1% per trade
Fees
1.25% buy trades; 1% sell trades
Investment choices
Cryptocurrencies and precious metals
Investment choices
Cryptocurrencies
iTrustCapitalCoinIRA
As mentioned above, you’ll like iTrustCapital if you want access to both cryptocurrencies and precious metals. CoinIRA solely offers cryptocurrencies.
In addition, iTrustCapital may be a better choice if you want access to a slightly wider selection of cryptocurrencies; CoinIRA only offers 20 cryptocurrencies, while iTrustCapital offers 30.
Ways to invest with iTrustCapital
Cryptocurrencies
If you’re looking to invest toward retirement with alternative investments like cryptocurrencies and precious metals, iTrustCapital’s SDIRA could be right for you. You can rollover funds from existing retirement accounts, including 401(k)s, 403(b)s, thrift savings plans, SEP IRAs, SIMPLE IRAs, 457 plans, and more.
As for its crypto selection, it offers the following: Bitcoin, ethereum, cardano, chainlink, polkadot, litecoin, dogecoin, bitcoin cash, stellar, EOS, uniswap, compound, sushi, yearn.finance, polygon – matic, aave, solana, curve dao, basic attention, enjin, algorand, cosmos, tezos, maker, shiba inu, and decentraland.
You’ll pay 1% per crypto transaction, and you can buy these assets 24/7. This is a competitive fee, given that some SDIRA platforms charge up to 2.5% per crypto transaction. And as for security, iTrustCapital offers $320 million in insurance.
It also offers custodial cold wallets. It specifically secures your cryptocurrencies through institutional-grade, offline storage. However, this could be a downside for investors in search of non-custodial wallets. With this platform, the custodian controls the keys to your crypto balances.
Staking
iTrustCapital also offers another feature that many SDIRAs don’t: staking. Staking is a way to passively build crypto wealth. With this process, you buy a set amount of crypto and lock it up for a certain period to earn rewards.
You can stake for 90 days through the platform, and you can earn up to 9.5% interest, though returns aren’t guaranteed. But there are two drawbacks to consider if you’re thinking of utilizing this feature at iTrustCapital. For one, you’ll have to pay a 20% staking fee. The other thing to look out for is that you can only stake one asset at this time: polkadot (DOT).
You can currently stake a minimum of five DOT. As of November 11, 2022, DOT’s price sits at more than $5. Therefore, you’ll need more than $25 to start staking.
Precious metals
If you want to take the metals investing route, you can also invest in physical gold and silver. As for fees, gold costs $50 over spot per ounce. Silver costs $2.50 over spot per ounce.
iTrustCapital: Is it trustworthy?
The Better Business Bureau gives iTrustCapital an A- rating. This is a high rating, since the bureau’s ratings range from A+ to F.
The BBB reviews several factors when evaluating businesses. These include type of business, time in business, customer complaint history, licensing and government actions, advertising issues, and more. However, its ratings don’t guarantee that a company will be reliable or perform well.
This is why it’s important to do your due diligence before opening an account with a business. Plus, it’s equally crucial to research a company’s legal history. iTrustCapital’s slate is clear of any lawsuits, scandals, or security breaches.
It has closed two complaints in the last 12 months, according to its BBB profile.
iTrustCapital — Frequently asked questions (FAQ)
Is iTrustCapital FDIC insured?
iTrustCapital only insures funds you hold in USD. Its FDIC insurance doesn’t apply to cryptocurrencies or precious metals.
Does iTrustCapital have monthly fees?
No. iTrustCapital charges a 1% fee for crypto transactions. You’ll pay $50 over spot per ounce for physical gold and $2.50 over spot per ounce for physical silver.
Who owns iTrustCapital?
Todd Southwick is the CEO of iTrustCapital.
What would happen if iTrust Capital and/or its custodian were to go out of business?
iTrustCapital says it maintains a business continuity plan with its custodian to address such a situation. If this were to occur, you would still retain ownership of your assets; however, you’d be required to transfer those funds to another custodian.
Related terms
SDIRA: Unlike regular IRAs that rely on traditional investments, self-directed IRAs let you build wealth through alternative investments like real estate, cryptocurrencies, and precious metals.Cryptocurrencies: These digital assets are powered by blockchain technology and allow for decentralized transactions between two parties. No middleman (i.e., a central institution like a bank) is involved.Crypto wallet: These storage vehicles are designed for digital assets like bitcoin and ether. You can typically either set up a hot wallet (i.e., a crypto wallet that uses software or online storage technology) or a cold wallet. The latter relies on hardware for storage.SEP IRA: These IRAs are reserved for self-employed individuals and small businesses. The contribution limit for 2022 is $61,000.