(Rejected) Crypto IRA Software Platform Trades up 60% in Nine Months to over $5B

iTrustCapital, a cryptocurrency trading platform that allows clients to take advantage of the tax advantages of an individual retirement account (IRA), records a growth of trading 60% to more than $5 billion in nine months.

California-based iTrustCapital has attracted nearly 35,000 client accounts registration since it was established by Todd Southwick and Blake Skadron in 2018.

The company aims to provide clients with IRA transactions that generally do not need to worry about capital gains tax, and currently only charges a 1% buy and sell transaction fee for cryptocurrency transactions.

Through this platform, users only need to withdraw funds during retirement and pay corresponding taxes in accordance with different types of accounts. However, 10% penalty fees would be charged if clients need to withdraw money early, which can only be waived in some special circumstances, such as paying tuition fees.

In addition to this, iTrustCapital has an agreement with Coinbase Custody to insure $320 million in deposits.