Over the past several years, cryptocurrency has become a popular means of investing. The “crypto boom” has taken the investing world by storm as crypto companies have been popping up much in the same way dot com companies did in the early 2000s.
While there is no shortage of options when it comes to buying, selling, and trading cryptocurrency, when it comes to utilizing cryptocurrency as part of your retirement portfolio, things can get a little tricky.
That’s where companies like Alto IRA come in. Keep reading to learn more about Alto IRA with this Alto IRA review.
What Is Alto IRA?
Alto is a brokerage company that specializes in alternative investments for retirement accounts or IRAs. The company was founded in 2018 by Eric Satz and is backed financially by the likes of Franklin Templeton and Moment Ventures.
Alto was founded on the idea that you shouldn’t be limited in what you invest in for your retirement. With that, they created The Alternative IRA to allow for non-traditional investments to be incorporated into a person’s IRA.
For more on Alto, read this extensive Alto IRA review.
How Does Alto IRA Work?
In addition to traditional IRAs, Alto supports Roth IRAs and SEP IRAs. All of Alto’s IRA accounts are self-directed, meaning that basically if something is legally allowed to be invested in, with Alto you can put it into your IRA.
This can include:
- Cryptocurrency
- Real estate
- Precious metals
- Livestock
- Farmland
- Wine
- Artwork
- Venture capital opportunities
- And more…
Alto offers two main types of IRAs, Alto IRA and Alto CryptoIRA.
Alto IRA
Alto IRA allows account holders to invest in a variety of different alternative assets utilizing the partnerships that Alto has cultivated. Over the years, Alto IRA has partnered with over 60 different companies to offer their clients alternative investment opportunities.
Some of these partnerships include:
- AngelList
- FarmTogether
- AcreTrader
- Masterworks
- EquityZen
- Republic
For those looking to open a traditional or Roth IRA account, the annual contribution limit is $6,000 plus a $1,000 catch-up contribution for account holders 50 and over. For SEP IRA account holders, the contribution limit is 25% of the compensation for a self-employed individual or business owner.
Alto CryptoIRA
For those who are looking to dip their toes into the world of cryptocurrency, or for those who are looking to incorporate their crypto investing into their retirement account, Alto also has Alto CryptoIRA.
Alto CryptoIRA, with its partnership with Coinbase, provides its account holders with access to over 100 different types of cryptocurrencies. Alto’s direct integration with Coinbase makes the entire process about as easy as anyone can ask for.
With Alto CryptoIRA you can trade crypto 24 hours a day, 7 days a week and the minimum investment is only $10. For those who are new to the crypto game, Alto also offers a free concierge service to help new account holders get started investing in crypto.
How Much Do Alto IRA’s Services Cost?
We know that fees and monthly membership requirements can be a big deal when it comes to deciding on which investment company to work with. Alto also knows this which is why they offer a different cost structure than most of their leading competitors.
With the Alto IRA account, instead of paying a fee based on the percentage of assets you have, all you have to pay is a flat fee of either $10 a month or $100 a year. The Alto IRA account also has a $25 fee for every outbound wire transfer and a $50 fee to close your account.
For those looking to open an Alto CryptoIRA account, these accounts come with 0 monthly fees. The only time you owe Alto money is when you make a trade and the trade fee is only 1%. As if that wasn’t already a good enough deal, that 1% fee INCLUDES the Coinbase fee. To put that into perspective, if you used Coinbase directly you would have to give them 1.5%. Additionally, just like the Alto IRA account, there is a $25 fee for outbound wire transfers and a $50 fee to close your account.
Is Alto IRA Safe?
It’s important to remember that when it comes to investing there is always a risk involved. When dealing with alternative investments, especially cryptocurrency, the risk might be even greater.
That being said, should you choose to try out Alto IRA or Alto CryptoIRA, you can do so knowing that your cash assets are safe. All Alto IRA accounts are protected for up to $250,000 by FDIC insurance.
Also, while Alto is not accredited by the Better Business Bureau, they do hold an A+ rating with the company.
Want to Try Alto IRA After Reading This Alto IRA Review?
If you are looking to diversify your portfolio in non-traditional ways, including incorporating crypto into your retirement portfolio, then Alto IRA might be right for you. To learn more about their services, or to start an account with them today, visit their website by clicking here.
