We understand that sometimes our customers might need a little extra help when trading crypto. Our U.S.-based customer success team is friendly, knowledgeable, and available to answer any questions you may have. We’re happy to talk with you about our platform, general questions about crypto, or the coins you’re thinking about investing in.
I had a great experience while establishing my IRA. The knowledge, professionalism, and the kindness that Angie showed me really made me feel safe and secure with using My Digital Money and investing my money with them. I will be transferring more money soon and I will continue to use and refer people to My Digital Money because of the wonderful experience I had with Angie. My Digital Money is lucky to have an employee like her!!
MDM is perfect for those who like to connect directly with a person when issues arise. Dean proved to be extremely helpful and patient in answering all of my questions. What makes this even more valuable is to recognize that I had only set up a “Play Money” account to begin the crypto learning process. I highly recommend MDM, for customer service. Perhaps customer service will again become a true part of our economy. I am old enough to remember why gas stations were originally called service stations. MDM is the service station for cryptos.
I was on the phone with one of your representatives named Dean who was extremely helpful in answering any questions I had.
Great customer service! They will actually answer the phone and talk with you. I worked with Angie and she was so nice to work with. Definitely knows her business and had a great personality. If you want a Crypto IRA, then give My Digital Money a call. They will take good care of you.
Dean Peterson with My Digital Money is a one-of-a-kind guy to speak with. Dean is patient and not condescending for newbies to understand. I also think Dean may have a natural ability to educate using analogies etc. My Digital Money is lucky to have Dean! I am inspired.
My experience with My Digital Money was very professional. Dean answered all my questions and circled back around to see if I had anymore. He took the time to answer all my additional questions as well. Very pleased with my interaction with MDM and Dean so far!
Thanks for your patience and help Angie. I have profited greatly in knowledge about this digital world with her help. As many times that I’ve called, she has always been very helpful and professional..thanks again Angie.
They are amazingly helpful especially the super kind woman Angie that has helped me several times! This company is top notch and I trust them with my digital assets using their military grade cold storage. I will continue to do business with them in the future and I hope you all will too if you want the best of the best!
At My Digital Money, we make the IRA transfer process easy. Once you’ve created your account and indicated that you’d like to transfer an existing IRA, a member of our customer success team will reach out to start the process. We’ll gather information from you about your current custodian and account, and then we take care of everything from there. Our team has existing relationships with many of the top IRA custodians as well as automated processes that streamline rollovers, allowing us to complete most IRA transfers within just a few days.
While you can’t invest directly in NFTs just yet on My Digital Money, we do offer a few ways that you can get exposure to Web3 assets in your crypto IRA. We offer a few coins on My Digital Money such as Decentraland (MANA) that could be considered NFT “adjacent” due to their usage in virtual reality, video games, and other applications that require a non-fungible token.
Simply complete an application by opening a new account. The application process will collect all of the necessary information that is needed for our custodian, Equity Trust, to initiate the transfer on your behalf. That’s all you need to do. There is no need to contact your financial institution. We do all of the work for you. We will contact you if your financial institution requests more information. Please confirm that your IRA is in a cash position before we submit your transfer.
Absolutely. If you’re no longer happy with your 401(k) or simply want to move the funds to a self-directed retirement plan, you can roll over your 401(k) to an IRA without incurring any taxes or penalties. There is no limit on the amount that you can roll over and, once complete, you will have access to a much larger variety of investment options. Unlike an IRA transfer, we can’t handle this process for you, but our team is ready and able to help with every step of your 401(k) to IRA rollover.
Yes, you can transfer any type of IRA including a Roth IRA to a crypto IRA of the same type. For example, if you have a Traditional and Roth IRA that you want to transfer, you will have to open both a Traditional and Roth IRA account with My Digital Money and initiate two separate transfers for each of the account types.
An IRA transfer can usually be completed within 2-3 days. However, in some cases, the process can take a little longer. Since My Digital Money can communicate with your IRA custodian on your behalf, our team can ensure the process is completed as quickly as possible. We have relationships with many of the top IRA custodians and processes that allow us to streamline IRA transfers for our customers. We find that most customers who transfer their IRA to My Digital Money are usually able to start trading within about five days.
A crypto IRA is a retirement account that is just like a traditional IRA, except it allows you to hold cryptocurrency instead of more traditional investments, like stocks or bonds. The main benefit of a crypto IRA is that it allows you to diversify your retirement portfolio with a new asset class that has the potential to grow at a higher rate than more traditional investments. You can learn more about what a crypto IRA is in this article.
Buying crypto in an IRA is actually very similar to buying crypto in a standard trading account. First, you’d sign up with a crypto IRA platform like My Digital Money and fund your account. Once your account is set up and the funds have cleared, you can start trading cryptocurrencies as you would on any other platform. The big difference is that all of the trades executed in the IRA will be allowed to grow tax-free until they are disbursed.
My Digital Money currently offers 20 cryptocurrencies that can be traded in an IRA. Our team carefully researches and reviews each coin before making it available for purchase in an IRA by our customers.
You might be surprised to learn that there is actually no limit on the number of IRAs that you can have. However, there are limits on the amount that you can contribute to the IRA each year that would be subject to tax advantages. Currently, you are allowed to contribute up to $6,000 per year to an IRA, or $7,000 per year if you are over 50.
Your IRA can be taxed in one of two ways depending on the type of IRA it is. A traditional IRA is taxed at the time you make a withdrawal from the account. On the converse, a Roth IRA is taxed at the time of the contribution so no tax is due when you withdraw your assets. Keep in mind, if you withdraw your funds early they will likely be subject to a 10% penalty.
When you contribute to your traditional crypto IRA, you are able to deduct the full amount contributed from your taxable income. This means that if you’ve earned $100,000 in a tax year and you make the maximum contribution of $6,000 to your IRA, your taxable income will only be $94,000. Th maximum contribution limit is imposed by the IRS and is $6000 – $7000 depending on your age. See your Tax Accountant for your specific situation and guidance.