iTrustCapital's Premium Custody Account: A More Secure Way to Buy, Sell and Hold Cryptocurrency
Buying and selling cryptocurrency doesn't have to be a risky endeavor. By now, most people have heard tales of cryptocurrency exchanges that have been hacked, leaving their customers penniless, or crypto investors who lost their private key and could never access their crypto wallet or their digital tokens again. And let's not forget the phishing and malware scams that have wiped out account after account or brought down high-profile exchanges. Even centralized exchanges pose risks to their customers. One only has to look at Bybit for a reminder. The cryptocurrency platform experienced a security breach in February, which resulted in the theft of about $1.5 billion worth of Ethereum, the largest cryptocurrency theft ever recorded.
Crypto exchanges have long been vulnerable to data breaches and hacks for several reasons. For starters, they are anonymous networks, without a middle person regulating transactions. Plus, many platforms to buy and sell crypto don't have adequate security practices in place. Add the fact that there are high-value assets stored on these platforms, and you can see why hackers are busy trying to exploit them and their clients.
But it doesn't have to be that way. There are safer and more secure ways to buy, sell and hold cryptocurrencies, from Bitcoin and XRP to Solana and Ethereum. iTrustCapital's Premium Custody Account (PCA) is one of them. Launched in March 2025, these 'closed-loop' crypto accounts are designed to address the security concerns that have plagued the cryptocurrency sector for years.
A Closed-Loop Approach
iTrustCapital has created what it says is a secure way to buy, sell and hold crypto through a closed-loop system. Clients can fund their PCA account with U.S. dollars and with in-kind deposits of crypto assets. However, here's where the magic happens. It is impossible for crypto to be transferred out of a Premium Custody Account. Clients can only withdraw funds in U.S. dollars, and the funds can only be transferred to their U.S. bank account. By design, there is no connection to an external wallet, so a client's account cannot be drained by nefarious bad actors who may gain access. Digital assets are stored one-to-one and off of iTrustCapital's balance sheet with top-tier U.S.-based custodians, including Coinbase Institutional Custody and Fireblocks, reducing the likelihood of the holdings being wiped out. Assets are never leveraged, loaned out or commingled with business operations. This ensures that clients retain full ownership of their assets at all times.
iTrustCapital believes that by making a closed-loop system, it is providing a secure and effective solution. "As the crypto space evolves, so do the risks," said Kevin Maloney, CEO at iTrustCapital when announcing the Premium Custody Accounts. "Whether it's the potential risks of exchanges or concerns about the safety of self-custody, we wanted to create a solution that helps reduce risk and alleviates these valid concerns for our clients."
Interested in buying and selling crypto without all the risk, click here.
Crypto withdrawals aren't allowed, which iTrustCapital says reduces the risk of an account getting hacked and digital assets being sent to an external crypto wallet. Through Premium Custody Accounts, investors have 24/7 access to more than 75 crypto assets. PCA accounts are taxable and are separate from the company's IRAs. You only need $1,000 to open an account and there are no monthly or annual fees. iTrustCapital charges a 1% transaction fee when you buy and sell cryptocurrency.
Real People When You Need Help
Equally important is the award-winning support iTrustCapital offers. Instead of relying on chatbots, social media, Discord or automated responses, iTrustCapital clients receive U.S.-based live support for account setup, funding and general inquiries. iTrustCapital says it connects clients directly with knowledgeable support specialists to assist with their needs. Beyond live support, the company has a plethora of information and tutorials on its website for every stage of your journey, whether you are just starting out or a long-term customer. With iTrustCapital, you are never alone. That's particularly important when it comes to investing in the world of cryptocurrency.
From Bitcoin and XRP to Solana and Ethereum, cryptocurrency is going mainstream with all sorts of investors interested in adding exposure to their portfolio. But security is a big issue with countless exchanges and individuals falling victim to data breaches, scams, hacks and phishing attacks. iTrustCapital wants to change that and is betting its closed-loop approach is the answer. To learn more about iTrustCapital and its Premium Custody Account, click here.
Featured image from Shutterstock.
This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.
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