iTrustCapital Review 2023: Is It Safe and Legit? Fine Print

Putting your money into Bitcoin using a tax-advantaged Bitcoin IRA is a wise decision for safeguarding and increasing your wealth over an extended duration. Doing so lets you make the most of Bitcoin’s promising long-term prospects.

iTrustCapital is a leading self-directed platform that lets you trade cryptocurrencies within your retirement account.

This comprehensive iTrustCapital review will go into the following:

• iTrustCapital Key Features: Self Directed, Custodian, Support, Tax Advantages

• Who is iTrustCapital Ideal For: Investors allocating funds to different cryptocurrencies 

• iTrustCapital Fees: 1% per trade

• Advantages: 24/7 Trading, Secure Storage, Diversification

• Disadvantages:  Limited Asset Selection, Minimum Investments, Regulatory Changes

• Main Risks: market volatility, regulatory and legal challenges, security and fraud risks

• Important Considerations: Mixing your Bitcoin portfolio with unregistered securities

• iTrustCapital vs. Swan Bitcoin Comparison:  Features, Compliance, Market

• iTrustCapital FAQ

Additionally, we will compare the competitive benefits of Bitcoin-only options compared to broader crypto IRAs, providing you with the confidence to make informed investment decisions.

Based in Irvine, CA, iTrustCapital was established in 2018 with a clear mission: to disrupt the self-directed IRA industry and empower clients to trade cryptocurrencies while enjoying specific tax benefits. 

iTrustCapital serves 40,000 users and provides a range of options, including a traditional Crypto IRA, Roth Crypto IRA, SEP Crypto IRA and gold and silver options. 

Their IRA product is available to all eligible US-based investors in all US states and in collaboration with partners, offers access to 36 cryptocurrencies, as well as physical gold and silver. 

iTrustCapital serves as a crypto IRA platform that allows you to trade numerous cryptocurrencies, including Bitcoin, within an individual retirement account (IRA), contributing to your retirement savings.

In contrast to conventional IRAs, which typically revolve around stocks, bonds, and traditional assets, a Bitcoin IRA allows investors to diversify their portfolios by allocating a portion of their retirement funds into Bitcoin and other diverse digital currencies, cryptocurrencies, and altcoins, thereby serving as a tax-saving avenue.

Self-Directed IRA

Investors retain full control over their investment decisions and have the flexibility to allocate a portion of their IRA funds into various cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and more.

Tax Advantages

The platform offers tax benefits, such as tax-deferred or tax-free growth, depending on the type of IRA chosen (e.g., traditional IRA or Roth IRA) and individual circumstances. It is advisable to seek guidance from a tax professional to fully comprehend the tax implications.

Custodian Services

iTrust uses Fortress Trust as its Qualified Custodian, Fireblocks, and BitGo for institutional cold wallet Custody. iTrust does not have a monthly fee.

iTrust uses Cross River Bank for settlements and a TOP three blue chip US bank for FBO client USD.

iTrustCapital caters to investors seeking to allocate their funds into a wide array of alternative cryptocurrencies.

At Swan, we firmly believe that any investment account or IRA that actively encourages investors to invest in lesser-known digital currencies alongside Bitcoin cannot be trusted.

While iTrust does not directly promote or encourage investment into any specific coins or solicit any investment or tax advice — their product still provides access to seven alternative cryptocurrencies considered securities by the recent SEC lawsuit against Coinbase and Binance.

iTrustCapital does not employ a sales team, is not a broker-dealer, is not an RIA, and does not pay sales commissions to employees. iTrust is a self-directed IRA software platform whose clients do their due diligence and make self-directed decisions. iTrust clients comprise mature working professionals in the 40-60 age range.

iTrustCapital may not be the ideal choice for true Bitcoin believers who see its long-term potential. It doesn’t align with Swan’s Bitcoin-only investment philosophy.

However, if you want to diversify your investments into alternative cryptocurrencies and altcoins, iTrustCapital could be a suitable option.

1. Tax Benefits: iTrustCapital offers tax-advantaged retirement accounts, such as Traditional IRAs and Roth IRAs, allowing you to potentially grow your investments tax-free or tax-deferred.

2. Diversification: Investors can diversify their retirement portfolio by including cryptocurrencies (Bitcoin, Ethereum, etc.) and precious metals (gold, silver, platinum, etc.) alongside traditional assets like stocks and bonds.

3. 24/7 Trading: iTrustCapital provides access to 24/7 trading for cryptocurrencies, which can benefit investors who want to take advantage of price fluctuations at any time.

4. Secure Storage: They offer secure storage solutions for digital assets, reducing the risk of loss or theft.

5. Easy to Use: The platform is user-friendly, making it accessible for experienced and novice investors.

6. Educational Resources: iTrustCapital offers educational materials and resources to help users understand cryptocurrencies and precious metals.

1. Limited Asset Selection: While iTrustCapital offers cryptocurrencies and precious metals, it doesn’t provide access to a wide range of traditional investment options, such as individual stocks or mutual funds.

2. Fees: Like many financial platforms, iTrustCapital charges fees, including account maintenance and trading fees. These costs can reduce the overall returns on your investments.

3. Minimum Investments: There may be minimum investment requirements, limiting access for investors with smaller account balances.

4. Market Volatility: Cryptocurrencies are known for their price volatility, which can lead to significant gains or losses. Investors need to be aware of the risks associated with these assets.

5. Regulatory Changes: The regulatory environment for cryptocurrencies is evolving, and changes in regulations could impact the way iTrustCapital operates and the assets it offers.

6. Limited Availability: iTrustCapital’s availability may be limited to certain regions, so not all investors may have access to their services.

Swan Bitcoin stands out for its:

• User-friendly interface

• Exceptional customer support

• Focused investment strategy

• Industry-leading security practices

Swan Bitcoin scores an impressive 4.6 out of 5 stars. iTrustCapital shares this rating.

Considering that an IRA is a long-term financial product that you may utilize for several years, if not decades, it is crucial to evaluate its features beyond just its fees.

When considering an IRA as a long-term financial product, it’s essential to look beyond just fees and consider the features that differentiate the options available.

Here’s where Swan outshines iTrustCapital in terms of features:

Simplicity

Swan IRA is guided by the principle of doing what suits Bitcoin and its community, ensuring a best-practices-driven approach.

High-Quality Information

Swan Studio’s, the Swan YouTube channel and the Signal Blog provide some of the best insight and content in the industry. 

Helpful Support

Swan’s team of Bitcoin experts is readily available, responsive, and enthusiastic about discussing everything related to Bitcoin.

Compliance and Risk Focus

Swan prioritizes minimizing potential risks associated with investing in and holding Bitcoin in a legal trust in your name, expertly handling regulatory and compliance concerns concerning your IRA.

Tailored for Bitcoin

With Swan IRA, you embrace a Bitcoin-only strategy, avoiding exposure to volatile altcoin securities as seen with iTrustCapital. Such altcoin securities often carry significant regulatory and counter-party risks, exemplified by recent SEC actions.

No Promotion of Altcoins

Unlike some cryptocurrency IRA providers, Swan does not promote multiple coins to encourage excessive trading activity. In contrast, iTrustCapital fees are often higher than Swan because its revenue model is heavily reliant on atlcoin trading. This business model creates an incentive for increased trading, potentially benefiting the IRA provider more than the investor.

While trading altcoins tax-free in your IRA is possible, it’s crucial to recognize that the primary beneficiary of such trading, in the long run, is likely the IRA provider. Swan’s focus on Bitcoin and its dedication to best practices make it a compelling choice for investors seeking a secure and straightforward Bitcoin-centric IRA option.

iTrustCapital shills 36 altcoins in its IRA product, which may appear enticing at first glance. However, upon closer examination, the inherent risk of investing in multiple crypto assets simultaneously becomes evident.

When it comes to your retirement, the primary goal should be preserving and growing your wealth over the long term. Treating your retirement portfolio like a day trader, constantly following trends in the crypto market, may not align with this objective.

The key is to avoid impulsively chasing after every cryptocurrency and focus on a more stable investment strategy.

The iTrustCapital IRA product carries several risks, including market volatility, regulatory and legal challenges, security and fraud risks, and tax implications. Before investing in Bitcoin IRAs, you should speak with a financial advisor and carefully review the terms and conditions of any financial institution you wish to work with.

Investing in numerous altcoins offered by iTrustCapital may not be financially beneficial and carries significant regulatory risks. Opting for such a strategy could put your retirement funds at the mercy of regulatory actions and potential legal consequences in the coming years.

Another risk to consider is the viability of platforms selling Bitcoin securities. The U.S. Securities and Exchange Commission (SEC) or other regulatory agencies may crack down on trading in unregistered altcoin products.

This adversely affects the platforms that offer altcoins and may result in the forced liquidation of assets the investor holds.

UPDATE: Recently, the SEC filed lawsuits against Binance and Coinbase. In the suit, the SEC names at least (67) alternative cryptocurrencies it believes are unregistered securities — many of these tokens are included in iTrustCapital’s product.

Swan maintains transparency regarding Bitcoin’s risks, compliance, and regulations. Instead of making false promises, the platform provides valuable support to help you navigate the complexities of IRAs and securely secure your future with cryptocurrencies.

All platform security measures are tailored specifically for Bitcoin, allowing you to focus on growing this asset class without the hassle of managing multiple cryptocurrencies simultaneously.

Bitcoin presents itself as a typical investment, with numerous advantages and promising growth potential, which may lead to an increasing number of companies offering Bitcoin IRA or crypto IRA products in the future.

Before making any investment, it is crucial to conduct thorough research and prioritize the protection of your savings while positioning yourself for long-term price appreciation in the secure asset that Bitcoin offers. Mixing your Bitcoin portfolio with unregistered securities and altcoins can be highly risky, making it prudent to consider opting for a “Bitcoin-only” approach when choosing an IRA provider. 

Additionally, it is essential to have a clear understanding of the fees associated with the investment and how they might impact your long-term retirement objectives.

Discover more about Swan IRA and how it can help you achieve your retirement goals while optimizing your savings potential. For additional information, feel free to reach out to the team at ira@swanbitcoin.com.

Who Own’s iTrustCapital

iTrustCapital is a renowned trading platform that focuses on providing alternative crypto-based IRA services. Acknowledging the inherent risks associated with investing in non-Bitcoin cryptocurrencies before considering such investments is essential.

How Does iTrustCapital Work?

The platform offers a self-directed IRA, enabling investors to integrate digital assets into their retirement portfolios. 

Can I Invest My 401(k) in Bitcoin?

You have the option to initiate a new account with iTrustCapital or transfer funds from an existing IRA or retirement account, like a 401(k), and allocate those funds to various cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash (BCH), or Litecoin.

What are some iTrustCapital Alternatives?

Swan Bitcoin, Unchained, iTrustCapital, Alto IRA, River, BitcoinIRA and Broad Financial.

What are the Investment Limits for iTrustCapital?

The is no maximum investment limits.

Is iTrustCapital Tax-Exempt?

The funds and assets within your account remain tax-free as long as they stay within the IRA.

Simplicity and Focus

Bitcoin-only platforms provide a straightforward user experience, directing all their resources towards Bitcoin-related services. If your sole interest lies in investing in Bitcoin, a streamlined platform that avoids the complexities of managing multiple cryptocurrencies is the ideal choice for you.

Specialized Expertise

Platforms like Swan Bitcoin possess in-depth knowledge of Bitcoin’s technology, market dynamics, and trends. This specialized expertise allows them to offer tailored advice, research, and support exclusively focused on Bitcoin investments.

Enhanced Security

Bitcoin-only platforms prioritize and optimize security measures specifically designed for Bitcoin. This may include robust encryption, multi-signature wallets, cold storage solutions, and other security practices to safeguard Bitcoin holdings.

Access to Specific Bitcoin Features

These platforms grant access to unique features or services exclusive to Bitcoin. For instance, opportunities like Bitcoin lending, staking, or other specialized investment options are unavailable on broader platforms.

Lower Fees

Bitcoin-only platforms often come with lower fees than broader platforms that support multiple cryptocurrencies. This cost-effectiveness can be advantageous for investors seeking to maximize their returns.

By choosing a Bitcoin-only IRA platform, you can capitalize on the platform’s expertise and tailored services while focusing solely on your Bitcoin investments in a secure and cost-efficient manner. You can also avoid the complex jargon and hidden fees of Crypto IRAs.

The iTrustCapital IRA product carries several risks, including market volatility, regulatory and legal challenges, security and fraud risks, and tax implications. Before investing in a Bitcoin or crypto IRAs, you should speak with a financial advisor and carefully review the terms and conditions of any financial institution you wish to work with.

Bitcoin doesn’t fit the mold of a typical investment. With its numerous advantages and potential for significant growth, it’s likely that more companies will introduce their own Bitcoin IRA or crypto IRA offerings in the future.

Prior to making an investment, it’s crucial to conduct thorough research and take measures to safeguard your funds, all while positioning yourself to benefit from the long-term appreciation in the value of a secure asset like Bitcoin. The practice of including unregistered securities and alternative cryptocurrencies in your Bitcoin portfolio carries an exceedingly high level of risk.

Therefore, it’s wise to contemplate adopting a “Bitcoin-only” approach when selecting an IRA provider. Moreover, it’s essential to comprehend the associated fees and how these expenses will impact your overarching retirement objectives.

To gain a deeper understanding of Swan IRA and its capacity to assist you in attaining your retirement aspirations while optimizing your savings, we encourage you to delve further. For additional information, please don’t hesitate to get in touch with our team at ira@swanbitcoin.com.

If you found this comparison helpful, but have additional questions check out our guide that breaks down the most popular Bitcoin IRAs and Crypto IRAs of 2023 and shows you how to pick the best one for your goals and situation.

Also take a look at our guide: The Right Questions to Ask to Avoid Bitcoin IRA Iceberg