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2024 marked many milestones for the crypto industry, as support from the political sphere and the outstanding financial performance of notable coins, such as Bitcoin, elevated their standing in the minds of many. The approval of spot Bitcoin ETFs by the SEC was among the key milestones achieved in 2024, signaling greater acceptance of the alternative asset class. Against this backdrop, iTrustCapital has been helping redefine what’s possible in the sector to become a trusted partner and platform for individuals seeking exposure to cryptocurrencies. There’s much to show that the company has built a reputation of trust, transparency and integrity.
iTrustCapital’s Role In Elevating The Cryptocurrency Landscape
iTrustCapital, a leading digital asset IRA software platform that enables clients to buy and sell cryptocurrencies directly through tax-advantaged retirement accounts, has been working on elevating the crypto experience for retail investors.
Since launching its platform in 2018, iTrustCapital’s mission has been to serve with excellence and provide secure access to millions of investors who would like to participate in the economic potential that a blockchain future holds. Leveraging a low-cost, user-friendly Fintech platform, the company provides individuals with the tools they need to manage their digital assets, safely and securely.
iTrustCapital has made significant strides, attracting more than 200,000 new accounts and executing $11 billion in transactions to date, with dozens of cryptocurrency options to choose from.
Over the years, the success of iTrustCapital has garnered industry recognition. Recently, the company earned a spot on Deloitte’s Technology Fast 500, ranking #162 in North America among the 500 fastest-growing companies across technology, media, telecommunications, life sciences, fintech and energy tech. The company also received the prestigious Crypto Award at the 2024 U.S. FinTech Awards, which celebrates excellence across all facets of financial technology and innovation. Additional accolades include winning Best Cryptocurrency Website at the 2024 Web Awards and receiving a Stevie Award for Achievement in Customer Experience, reflecting their unwavering commitment to a client-first approach.
Commenting on the multiple recognitions the firm has received, Kevin Maloney, CEO of iTrustCapital, stated, “2024 has been an extraordinary year! The awards and recognition the company received are a testament to the dedicated team at iTrustCapital and the trust we’ve worked hard to earn in the industry”.
iTrustCapital’s industry recognition is validated by feedback received from its clients. Over 6,000 excellent reviews across platforms like Google and Trustpilot highlight the platform’s ease of use, security and exceptional customer service.
iTrustCapital’s Operational Standards
iTrustCapital’s platform offers clients self-directed Individual Retirement Accounts (IRAs), providing them access to buy and sell cryptocurrency with certain tax benefits. Simply put, this account will allow investors to hold cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, Sui and others with tax-deferred growth or tax-free withdrawals*. The tax advantages you receive depend on whether you fund your account with pre-tax or after-tax dollars.
For instance, the IRS taxes Bitcoin as an investment, which is subject to a capital gains tax when sold at a profit. However, if it is held within a Crypto IRA, the gains are tax-deferred or tax-free depending on the type of account.
While some crypto service providers have commingled client assets with operational funds in the past, iTrustCapital, through its regulated Trust Company partner, holds all Crypto IRA assets off-balance sheet for the benefit of (FBO) each client. In 2024, the company elevated its standards even further by partnering with Fortis Bank, a Federally Chartered Bank and state-regulated Qualified Custodian. Furthermore, iTrustCapital recently engaged with Fidelity Digital Assets to provide institutional digital asset custody along with Coinbase Prime to provide liquidity services for client accounts.
These actions reflect iTrustCapital’s commitment to security, transparency, compliance and safeguarding the client assets, ensuring that all assets are held off-balance sheet and fully segregated.
Looking Ahead
With an upcoming pro-crypto administration set to take office on January 20th, the future of digital assets looks brighter than ever. These milestones represent not just progress but a potential confirmation that crypto is here to stay, solidifying its place as a financial force within the industry.
iTrustCapital is part of the vanguard with an innovative solution for buying and selling crypto outside traditional exchanges. With increasing recognition of the platform's safety and security, in addition to tax advantages offered by Crypto IRAs over standard exchanges, the company’s growth and industry leadership could be poised to extend well into 2025 and beyond.
“Our mission has always been about empowering our clients to take control of their financial futures,” said Maloney. “As we step into 2025, we’re excited to launch new products and services, continue to serve our clients with excellence, and thrive as a company - setting the bar even higher for the crypto industry.”
Featured photo by Traxer on Unsplash.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
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