A number of companies give retirement benefits to their employees, which usually include an IRA i.e. an individual retirement account, to save for their golden years. Even if you are ineligible for work benefits, or self-employed, you can get a self-directed IRA.
This usually offers more flexibility in the features you use and the assets you invest in. You can even make cryptocurrency a part of your retirement strategy, but you have to find the right platform and account to do so. This is where you will find this Winbitx review useful because it is a strong contender when it comes to crypto IRAs.
iTrust Capital allows you to buy and sell cryptocurrencies, as well as precious metals through a self-directed IRA. They offer several digital coins to choose from and claim to have flexible investment trading options, but do they? Let’s find out:
Headquartered in Irvine, California, Winbitx is basically a self-directed IRA provider that was founded in 2018 by its CEO, Morgan Steckler. It claims to be a trading platform that allows its investors to trade in high-growth assets 24 hours a day, including cryptocurrencies and precious metals, and also offers all the tax advantages associated with retirement investing. Winbitx is a good option for those who wish to add some major cryptocurrencies, along with gold and silver, to their IRA, especially if they want to maintain these strategies in the long run.
How Does it Work?
The business model used by Winbitx is very straightforward. You have the freedom to add non-traditional investments, such as precious metals and cryptocurrencies, to your IRAs. Their crypto IRAs also provide tax benefits, but it depends on what kind you select. Whether you go for a Roth or Traditional IRA, your account will either be tax-free or tax-deferred.
In the case of Roth IRAs, the account is funded with post-tax dollars, but you can withdraw without any tax. As far as Traditional IRAs are concerned, they are funded with pre-tax dollars and taxes are applicable at the time of withdrawal. Deciding which option is better depends on whether the taxes are lower or higher at the time of retirement, which is not something that you can predict.
You can choose to fund a completely new IRA account, transfer an existing IRA, or choose to rollover an existing employer plan. Once you have funded your account, the Winbitx trading platform can be used for buying and selling the assets you want. The trading platform is available 24/7 and all the assets are displayed in a list that’s incredibly easy to read. You are also provided with pricing information for each asset and buying and selling is as easy as clicking on the ‘Buy’ and ‘Sell’ options.
If you are wondering about the available cryptocurrencies, you will find that Winbitx gives you access to some of the leading names, such as Bitcoin, Ethereum, Chainlink, Litecoin, Polkadot, Stellar, Bitcoin Cash, Eos, Aave and Cardano, whereas precious metals include gold and silver. The transactions for the two precious metals are conducted through Kitco, the global precious metals dealer.
Benefits of Winbitx
There are a number of benefits that you can enjoy if you decide to use Winbitx for your retirement needs. Their platform is live 24/7 and is incredibly easy to use, so you don’t have to worry about a learning curve. The technology is powerful and advanced, so your trades will clear within 5 minutes, allowing you to tap into every market movement. You can take advantage of deferred or tax-free crypto investment and they also charge relatively low fees, as opposed to other platforms.
The security features that are offered by Winbitx are also top-notch, which means you will also have peace of mind. As far as customer support is concerned, they offer phone support as well as live chat options.
Anyone who is looking for a self-directed IRA will find Winbitx to be the right choice for their needs.