Moved one of my Roth IRAs to it
iTrustCapital: Low Cost 24/7 Bitcoin, Crypto & Gold IRA Self-Trading Platform
I hear good things about them. That being said do your own research. I plan to move my roth IRA there eventually, but I have not tried them yet.
I finally managed to move one of my roth IRAs to itrustcapital. I moved it from Vangaurd to them. I have to say it was the most painless rollover I ever had. Took less than one week from the day I submitted my forms to the day the account was funded.
So far so good.
Pros:
- Very fast rollover.
- You buy actual BTC, Eth, Ada and othee crypto instead of indirect exposure to companies like GBTC and Microstrategy.
- All their crypto is held Curve currently, that are being bought by Paypal. They will be moving Coinbase custodial services, which offers them 320 million USD insurance, and are basically the standard in the space for institutions.
- Staking is coming in the fall of this year. If you hold ADA, not only will you get 0 capital gains tax inside the account, but also any rewards from staking (basically interest) is also tax free as opposed to normally paying earned income tax. Thats huge once it happens hopefully soon.
- They have a great selection of crypto to buy.
- They also offer "physical" gold and silver. I am not a precious metals guy but for you here who are interested could also have that option.
- Unlike any funds or Etfs on exchanges, you don't pay any annual expense ratios.
- trading available 24/7
Cons:
- Trading fees are a bit steep (1%), but remeber there are no capital gains tax inside a roth IRA, so this is peanuts hopefully to the capital gains tax savings 10 years down the line. You pay the trading fee only at the time of the trade, not annually like mutual funds or etfs expense ratios.
- There is monthly fixed maintenance fee of $30. The good thing is you pay this from a credit card or debit card, not from your precious funds inside the ira to avoid eating at your capital.
- No limit buys that I can see or any sophisticated trading platform. So if there is a dip you can't just set a limit buy and forget. You need to be at your phone or pc and buy as it happens. Very annoying.
Hope this helps anyone who is thinking about using this. I would consider it a win if I can beat the S&p 500 in 10 years. Will see.
Also remember there is a risk as they are a new company and you are trusting your retirement account to them. Do your own research before you ape into if you decide to do so.