When seeking out an IRA plan that accepts Bitcoin and other cryptocurrencies, there are many services available to the careful modern investor. One such provider is iTrustCapital, a very popular option in this space. They are the #1 crypto IRA platform in America, allowing hundreds of thousands of people to add Bitcoin and other successful cryptocurrencies to their retirement investments.
Today we’re taking a look at iTrustCapital and how you can get started with them. We have tackled the process step-by-step, so nobody gets lost.
Of course, you need to figure out if iTrustCapital is the right service for you first. They are the most popular, so they clearly make a lot of investors happy, but that doesn’t mean they’ll be perfect for you. Check out iTrustCapital reviews to see if they are compatible with you and your financial circumstances.
Table of Contents
Who Are iTrustCapital?
You can and should do your own research into any IRA services when figuring out your retirement plans.
For now, here’s a short summary of iTrustCapital, who they are, and what they want to do.
As we have already mentioned, they provide IRA plans that specialize in cryptocurrency investments. This is ideal, as many crypto IRAs are just self-directed IRAs that accept Bitcoin and other digital assets. With iTrustCapital, the service is built from the ground up to work with cryptocurrency.
With over 100,000 accounts made with their service, they offer 25 cryptocurrencies but are always adding more as more promising digital investment assets reveal themselves. Their goal is to grow to 10 million people, which may seem distant but would happen quickly if cryptocurrencies become mainstream in the next decade or two.
They also offer precious metals, though they utilize their expertise in cryptocurrency to make these investments even more secure. Purchases are routed through Kitco, a leading precious metals market, and they are partnered with VaultChain.
VaultChain is a system that allows clients of iTrustCapital to buy and sell gold and silver with blockchain certification. With this system, the metals are held at the Royal Canadian Mint while ownership of them is logged in a secure distributed ledger.
Now that we know a little about iTrustCapital and what they do, creating an account is easy. It happens in seven steps.
1. Getting Started
To get started, you’ll need to visit iTrustCapital.com. From the main landing page of the website, you can scroll downwards to see some more information about iTrustCapital and what they do.
However, to start the application process, you need to select ‘Open Account’ located at the top and bottom of the page. Clicking it will open a new tab where you will need to give some basic info needed to start the account.
2. Giving Your Information
If you’ve ever started any account on any website online, you should know what to do next. You’re prompted to enter five things – a username, an email, a phone number, and then two fields to make up and then confirm a password. All of these fields are mandatory, so you need to fill them all out to continue.
Your username can be anything, though you should try to keep it professional. We are talking about finances here, after all.
Your email is for verification and account management purposes, so it’s important that it’s a secure email you use often and have reliable access to.
Next is your phone number. This is primarily for SMS authentication, where you receive codes for two-factor authentication that add another layer of security to your account. It also allows urgent contact between you and iTrustCapital if it’s ever needed.
The password should be secure and memorable. There are also six requirements to make sure your password is strong. It must include:
- Anywhere between 6 and 60 characters.
- At least 1 uppercase letter.
- At least 1 lowercase letter.
- At least 1 number.
- At least 1 special character. What’s a special character? Those are #, @, $, &, ! and ? along with some other accepted icons.
3. Email Verification
Once you have created your account details and they are all sound, you will be sent an email verification. This is to make sure the email is yours, so you can log in, click the email and the prompt it provides, and confirm your identity to iTrustCapital.
After you have confirmed your email address, iTrustCapital now knows that they are dealing with the person who gave them the email and the other details that have been requested.
4. Filling In The Application
After logging in and confirming your details, you should start filling out the application. This will be a larger document than the initial account-opening one and you should take your own time to read it, understand it, and give the information asked for. Most of it will be financial information that shouldn’t be shared with anybody except your IRA custodian.
iTrustCapital have their own data wizard to help with the onboarding process, so you don’t need our guidance once you get started. Fill out the wizard with correct information. Remember that giving certain financial falsehoods can amount to fraud or other criminal acts.
5. Choosing An IRA
Next, you need to choose the type of IRA that you want. iTrustCapital offers different plans that are funded in different ways. They specialize in crypto IRAs, as we have already said, but they have several plans to keep their wide customer base happy.
As with the last step, we can’t recommend which one you pick. The right answer depends on your financial circumstances and the kinds of investments that you want to make. We don’t give that kind of detailed advice, your investments are your own. Research each and decide on the one that is best for you.
6. Including Beneficiaries
When looking at IRAs, you need to consider beneficiaries too. Like any traditional provider, iTrustCapital allows clients to include beneficiaries who will inherit the sum of your IRA pot upon your passing. You need to have one of these beneficiaries when making an account.
They can be anybody, though it helps if they are a junior family member to you. Siblings can also act as beneficiaries for IRAs in the event of the client’s death. You will need to give their contact details and you should also let them know that you have included them, so they aren’t surprised if iTrustCapital contacts them. You don’t want them to get confused and dismiss it as some kind of scam, after all.
7. Submitting The Application
Once you have followed and completed all of the above steps, you have submitted your application to start an IRA. Every IRA starts with an initial fund event, so you should click ‘Contribute’ and throw some crypto into the IRA to test it out.
As the application gets submitted, you will need to look out for emails from iTrustCapital and their processing teams. You will also receive an email that uses DocuSign to help you. It allows you to digitally sign any emails and documents that may come your way, making them more secure.
Conclusion
There you have it – a quick guide to Bitcoin IRAs, iTrustCapital, and how you can get started with them. You should have everything you need to start saving for retirement with cryptocurrency.
If you decide that they are worth your time (and money) then you should follow the steps above and dedicate some investments into the account. Hopefully, your crypto investments prove wise and you make some extra cash for your retirement.
