Pros, Cons, and Who Should Set up an Account

Pros, Cons, and Who Should Set up an Account

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

Alto IRA Alto IRA account


Account Minimum

$10 cryptocurrencies


Fees

Alto CryptoIRA: 1% per crypto transaction, $50 account closure fee, and $25 for outbound wire transfers; Alto IRA: $10/month account fee or $100/year (with two months free), $10 partner investment fee, $50 account closure fee, and $25 outbound wire transfer fee


Investment Types

Venture capital, real estate, startups, farmland, cryptocurrencies, private companies, and precious metals

Alto IRA Alto IRA account


Account Minimum

$10 cryptocurrencies


Fees

Alto CryptoIRA: 1% per crypto transaction, $50 account closure fee, and $25 for outbound wire transfers; Alto IRA: $10/month account fee or $100/year (with two months free), $10 partner investment fee, $50 account closure fee, and $25 outbound wire transfer fee


Investment Types

Venture capital, real estate, startups, farmland, cryptocurrencies, private companies, and precious metals


Account Minimum

$10 cryptocurrencies


Fees

Alto CryptoIRA: 1% per crypto transaction, $50 account closure fee, and $25 for outbound wire transfers; Alto IRA: $10/month account fee or $100/year (with two months free), $10 partner investment fee, $50 account closure fee, and $25 outbound wire transfer fee

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Overall rating

Is Alto IRA right for you?

Alto IRA offers alternative investments and IRAs for both accredited investors (those with a net worth of at least $1 million or annual salary of $200,000, oe $300,000 for couples) and non-accredited investors.

It also provides 200+ cryptocurrencies, low fees, and access to investments like real estate, fine art, precious metals, private equity, startups, and more. A downside, however, is that Hawaii residents won’t be able to access the platform, and it doesn’t offer SIMPLE IRAs

Its mobile app is available on Android devices, and you can set up the beta version of its iOS app here.

Alto IRA vs. Bitcoin IRA

Alto IRA’s crypto selection bests that of Bitcoin IRA (Bitcoin IRA offers 60 cryptocurrencies compared to more than 200), and it offers lower fees. But Bitcoin IRA offers a higher insurance policy than Alto IRA. It offers up to $700 million in insurance, while Alto IRA only provides more than $300 million in coverage. In addition, Bitcoin IRA is a better option for automated investing features since its Saver IRA lets you automate contributions.

Alto IRA vs. iTrustCapital

Alto IRA and iTrustCapital both offer a wide range of SDIRA services for those who want to invest in assets like cryptocurrencies and precious metals. Plus, you’ll pay the same amount for cryptocurrency transactions (1%).

However, Alto IRA is the better option for investors in search of flexible cryptocurrency options. The platform offers more than 200 cryptocurrencies, while iTrustCapital only offers 30. iTrustCapital is a better choice for those who want to take advantage of features like staking.

Ways to invest with Alto IRA

Alternative investments

Alto IRA is a great choice for investors who want to build retirement wealth without traditional investments like stocks and ETFs. You can set up two IRA accounts simultaneously (as long as you use two different emails), and the platform’s account selection consists of traditional, Roth, and SEP IRAs. It gives investors two options:

  • Alto IRA: This IRA is reserved for investments in real estate, venture capital, fine art, land, startups, and more. You can fund your account with funds from existing retirement accounts or bank accounts. Plus, you’ll get the same tax benefits as other IRA accounts, and you can either pay $10 per month, or $100 per year (two months free).
  • Alto CryptoIRA® You’ll gain access to more than 200 cryptocurrencies — including ethereum, bitcoin, dogecoin, and cardano — since Alto IRA is integrated with Coinbase. Users can take advantage of both a web platform and an Alto CryptoIRA mobile app, and you can trade 24/7. Plus, Alto IRA holds your cash in FDIC-insured accounts, and it relies on both hot and cold storage (i.e., online and offline storage methods) to secure your cryptocurrencies. Since Coinbase provides the cryptocurrencies, you’ll have commercial crime policy insurance coverage of $320 million and $3 million in cyber crime coverage. As for fees, there’s a $10 minimum, and you’ll pay 1% per transaction.

Alto CryptoIRA’s investment selection is hard to beat compared to other platforms (like Bitcoin IRA and iTrustCapital) that offer fewer than 40 cryptocurrencies. But some SDIRAs offer traditional, Roth, SEP, and SIMPLE IRAs, so you could get stronger account selections elsewhere. However, its overall offering of alternative assets is quite competitive.

Alto IRA: Is it trustworthy?

The Better Business Bureau gives Alto Solutions, Inc. (dba Alto IRA) an A+ rating. Ratings generally reflect the bureau’s opinion of how well a company interacts with its clients, and this is the highest rating a business can receive.

When evaluating businesses, the bureau considers several factors. These include, type of business, time in business, licensing and government actions, advertising issues, and customer complaint history. 

Alto IRA’s record is clear of any major scandals or lawsuits. Its BBB profile shows it’s closed seven complaints in the last 12 months, and it doesn’t have any unresolved complaints at this time.

Alto IRA — Frequently asked questions (FAQ)

Alto CryptoIRA is also a part of the Alto platform, but it’s specifically reserved for investing in cryptocurrencies. Like its Alto IRA product, Alto CryptoIRA lets you set up traditional IRAs, Roth IRAs, and SEP IRAs.

No. For Alto CryptoIRA, you’ll pay 1% for each crypto transaction, $50 for account closures, and $25 for outbound wire transfers. For Alto IRA, you’ll pay $10/month or $100/year and a $10 partner investment fee. As with its crypto option, you’ll also be responsible for a $50 account closure fee and $25 outbound wire transfer fee.

Alto IRA is headquartered in Nashville, Tennessee. 

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