PCA Crypto Deposit FAQ

Q: How do I get started?

A: PCA Crypto Deposits are now automated and may be requested directly from your iTrustCapital Dashboard. You may click on Deposit > Crypto Deposit under your Premium Custody Account to get started.

Q: Can I send my crypto deposits to the same wallet address in the future?

A: NO. Each wallet address can only be used for one deposit request. If you want to send another deposit in the future, you must request a new PCA crypto deposit from your dashboard to generate a new wallet address. This will ensure your deposit is credited correctly and help prevent any potential losses or delays.

Q: How long does it take for my crypto deposit to be available in my PCA?

A: Crypto deposits are typically available in your PCA within one hour after the transaction is confirmed on the blockchain. In some cases, delays may occur due to network congestion, the type of asset being sent, and whether the correct wallet address was used.

Q: What if I don’t have $1,000 worth of crypto to fund my account?

A: Each crypto deposit must be at least $1,000 in value per asset. Please ensure your deposit meets or exceeds the $1,000 requirement before sending.

Q: My account is already funded. Do I still need to send $1,000 with each crypto deposit?

A: Yes, each new crypto deposit must meet the $1,000 minimum requirement, regardless of your current PCA balance. This applies per asset, per deposit.

Q: Can I reuse the same wallet address to send crypto from multiple accounts or exchanges?

A: No. Each wallet address can only be used for one deposit request. If you want to send another deposit in the future, you must request a new PCA crypto deposit from your dashboard to generate a new wallet address. This will ensure your deposit is credited correctly and help prevent any potential losses or delays.

Q: Is a memo or tag required when sending assets?

A: If your instructions contain both a wallet address and a memo/tag, then YES, it is crucial that you utilize BOTH when sending assets. Omitting or entering an incorrect memo/tag can delay or prevent your deposit from being credited. Not all blockchains require a memo/tag, so if you do not have one in your instructions, then it is not necessary. Review your instructions (provided on the dashboard) carefully, and let us know if you have any questions.

Q: How much crypto can I send as a microtest?

A: A typical microtest deposit ranges from $5 to $15 in value. Sending a microtest is optional; you may elect to skip this step when requesting a crypto deposit from the dashboard. However, microtests can help verify the deposit process before sending the full amount.

Q: Do I need to send a microtest first? What happens if I don’t?

A: Sending a microtest is optional. If you choose not to send a microtest, you can proceed directly with your full deposit of $1,000 or more in asset value. Skipping the microtest may carry a higher risk of errors or delays if there are issues with the input of wallet addresses or the memo/tag. iTrustCapital recommends sending a microdeposit prior to the full deposit amount.

Q: Can I send crypto from my PCA to a wallet or exchange?

A: NO. Crypto cannot be sent out from your PCA to external wallets or exchanges using our closed-loop platform. Your PCA is designed to receive and hold crypto deposits, with USD-only withdrawals currently permitted for security reasons.  

Q: Which crypto assets can I send to fund my PCA?

A: BTC, XRP, SOL, ETH, XLM, ADA, HBAR, SUI, and LINK are currently available to deposit.

Q: I want to send more crypto to my PCA. Do I need to request a new deposit each time?

A: Yes. Each time you want to send additional crypto to your PCA, you must request a new deposit from your dashboard. This generates a new wallet address, helping prevent delays for the deposit.

Q: Can I send my crypto back to the account/ wallet it came from?

A: NO. You cannot send crypto back to the original wallet or account from which the deposit was sent. Withdrawals from your PCA must be made in USD and transferred to a bank account under your name.

Q: Why is my crypto deposit taking so long? Shouldn’t it be immediate?

A: Crypto deposits are not immediate because they require confirmation on the blockchain, which can take time depending on network congestion and the asset being sent. Additionally, deposits may be delayed if the memo/tag is missing or incorrect, or if a manual review is required. Please allow up to a few hours for the deposit to appear in your PCA. If you are still not seeing the crypto deposit posted in your PCA within a few hours, please contact our team.

Q: Can I sell my crypto for USD within my PCA as soon as it is available?

A: Yes, once your crypto deposit is confirmed and available in your PCA, you can sell it for USD immediately within the platform.

Q: Can I now deposit crypto into my IRA?

A: NO. The IRS only permits a new contribution into an IRA to be in USD. As a result, we cannot fund an IRA with crypto from an exchange or a wallet.

However, if you own crypto in another qualified IRA, you can perform an "In-Kind Transfer" - allowing you to fund your account with crypto without liquidating. Click here to learn more about In-Kind Transfers to your IRA.

Q: What is the difference between a Premium Custody Account and an account on an Exchange?

Premium Custody Account (PCA) offers a secure, user-friendly way to buy, sell, and store crypto 24/7 outside of a retirement account, without the risks associated with self-custody or reliance on centralized exchanges. Unlike traditional crypto exchanges, where assets can be moved to external wallets by users or exploited through unauthorized access, PCA operates within a closed-loop system. USD and eligible crypto can be deposited into a PCA, but withdrawals are permitted in USD to a U.S. bank account on file. By design, crypto withdrawals from PCA accounts to external wallets are not permitted; this helps mitigate the leading cause of asset loss and fraud from bad actors. Additionally, clients' USD are secured by third-party, US-based custodians, and crypto assets are secured by third-party institutional storage providers.

Q: Are you offering any promos/deals for sending crypto to fund the account?

iTrustCapital is offering zero charge for depositing digital assets directly into your Premium Custody Account. You can also take advantage of our ongoing referral program.