Cryptocurrency IRAs (Individual Retirement Accounts) are gaining popularity as people seek tax advantages and diversification in their retirement portfolios. However, not all companies are created equal. Here's a concise guide to help you navigate the process of selecting the right Crypto IRA provider by knowing what to look for.
Due Diligence Checklist:
1. Reviews:
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Are the reviews from real review sites?
- Many websites display their positive reviews prominently, but it's important to always verify their authenticity. Make sure that these reviews include hyperlinks to their original sources, allowing you to click through and confirm they come from reputable review platforms like Google and Trustpilot.
- Many websites display their positive reviews prominently, but it's important to always verify their authenticity. Make sure that these reviews include hyperlinks to their original sources, allowing you to click through and confirm they come from reputable review platforms like Google and Trustpilot.
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Are the reviews from real clients?
- If a company has many 5-star reviews without comments, be cautious; a widespread presence of such reviews might suggest they were purchased. Additionally if there is commentary, be wary of reviews with generic, confusing, or irrelevant content, which could suggest they were generated by bots or paid overseas reviewers to falsely boost engagement.
- If a company has many 5-star reviews without comments, be cautious; a widespread presence of such reviews might suggest they were purchased. Additionally if there is commentary, be wary of reviews with generic, confusing, or irrelevant content, which could suggest they were generated by bots or paid overseas reviewers to falsely boost engagement.
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Does the company respond back to the review?
- It's a positive sign when a company talks back to their reviewers, whether it’s a high five or a "sorry about that." It shows they’re paying attention.
- It's a positive sign when a company talks back to their reviewers, whether it’s a high five or a "sorry about that." It shows they’re paying attention.
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Does the company use old and out of date reviews to attract new customers?
- This is a frequent occurrence: companies that achieved success and garnered positive reviews years ago continue to highlight these old testimonials to attract new clients. Yet, the absence of recent reviews raises questions about their current growth and competitiveness in the market.
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How long has the company been in business and how many reviews?
- Some companies boast of being over 5 years old yet have fewer than 100 reviews, raising questions about their success. Typically, this lack of feedback could suggest that they may not have achieved significant success, often due to underlying reasons.
2. Fees:
- Beware of hidden fees such as transaction, monthly, annual, onboarding, storage, and commission fees.
- Choose platforms that clearly disclose their pricing on their website. If you need to speak with a salesperson to obtain fee information, the charges are likely higher than average. Always get the fees in writing.
3. Social Media Presence:
- Check the company's social media engagement, including follower count, user interactions, and frequency of posts.
- Do they share diverse content, from news to educational materials? This indicates the company is current and innovative.
4. Security Measures:
- Ensure robust security protocols are in place to protect your assets.
- Verify if assets are held off-balance sheet by trusted third-party custodians for added security.
5. Customer Support:
- Assess the availability and responsiveness of customer support channels.
- Look for platforms that prioritize proactive communication and assistance.
- Look online at review platforms like Google and Trustpilot to see if the company's reviews mention great customer service.
Choosing iTrustCapital:
- High Reviews: iTrustCapital boasts a 4.8-star rating from over 3,800 customer reviews on Trustpilot and Google.
- Low Fees: With only a 1% transaction fee, iTrustCapital offers competitive pricing.
- Top-Notch Security: Client assets are securely stored off-balance sheet in a regulated trust charter, and the custody of crypto assets is managed using Fireblocks.
- Active Social Media Presence: iTrustCapital engages with its community across various social media platforms. They have a large following and post helpful content daily.
- Excellent Customer Support: A dedicated and award-winning* client service team is available during operating hours to assist clients promptly and effectively.
Selecting the right Crypto IRA provider requires thorough due diligence. By considering factors like reviews, fees, social media presence, security measures, and customer support, you can make an informed decision.
Ready to Invest in Your Future? Open an account with iTrustCapital today!
* Stevie®️ Awards for Sales & Customer Service
DISCLAIMER
This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.
iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.
Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.
Some taxes and conditions may apply depending on the type of IRA account. Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional.
iTrustCapital makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrustCapital disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.
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