My Digital Money Review 2022 • Crypto IRA

My digital money ratings at a glance

MDM Crypto IRA Investments

MDM offers investors and traders of all experience levels a great opportunity to get involved in the crypto markets. Additionally, if you are looking for an alternative investment to the traditional means of setting aside money for your retirement, then a crypto IRA might be an option to consider, especially if you are risk averse to the price volatility that digital currencies often display.

A particularly attractive feature of the MDM platform is the ability to make cryptocurrency investments and potentially earn tax-free or tax-deferred profits in an IRA. The types of crypto IRAs you can open with MDM include a Simple IRA, Traditional IRA, Roth IRA, and Simplified Employee Retirement Plan (SEP) IRA.

If you are planning to just trade crypto, then MDM provides a cash account and a great platform with trading tools that other crypto exchanges may not offer. The MDM platform also allows you to enter orders outside of the dominant market to limit your risk or buy digital assets when they have reached your preferred price level. Once you have purchased a digital asset, you can manage your trade by entering a stop-loss order to limit losses on a losing trade or a limit order to take profit on a winning trade.

You also have the choice of entering an order either at a specific price level or as a percentage move in the digital asset. For example, if you bought Bitcoin Cash (BCH) at $275, you can enter a stop-loss order to sell if BCH drops 10%. Alternatively, you can enter a stop-loss order to sell at the best possible price if the market drops to $247.50.

My Digital Currency Customer Service

MDM’s US customer service is exceptionally reliable and offers a toll-free number in the US. You can also reach MDM customer service by email by filling out an online contact form with your name, email address, and phone number on the company’s website. MDM’s physical address in Pasadena, California is listed on its website if you prefer to contact it by mail.

MDM customer service was very responsive and quickly responded to a query when contacted via their toll-free number. Although no online chat option currently exists on the MDM website, you can contact the company through its social media presence on Facebook, Instagram, LinkedIn and Twitter.

Although there are no monthly fees charged for MDM’s services and platform, MDM has several fees for its cash account and crypto IRAs:

  • Cash account: The cash account has no opening fees, but you will have to pay a platform transaction fee of 2.15% and a custodian transaction fee of 0.75%.
  • Crypto IRA: Setting up a crypto IRA involves a one-time setup fee of $50, and you’ll pay the same transaction fees as with a cash account.

The platform’s transaction fees cover MDM’s comprehensive services which include its investment features and in-person customer service. Keep in mind that the investments offered through MDM investments are not exchange-traded funds (ETFs) but real cryptocurrencies.

MDM offers three payment options. You can pay directly from your IRA, from your bank account, or using your credit card. For more information on MDM fees, you can click this link, call (877) 833-0927, or email [email protected]

Benefits for My Digital Money users

The MDM platform gives newbie traders the ability to virtually trade cryptos in a trading or demo account. This feature is a great way for a novice to learn about crypto trading. It also gives a seasoned trader the opportunity to test new strategies that they are considering including in their trading plan. Additionally, MDM has an ongoing promotion that rewards a $50 cash prize for referring a friend.

Once you have opened an account and started trading cryptos with MDM, you can closely monitor your positions and receive profit/loss prompts for your portfolio in real time right on your dashboard. The MDM platform also provides a helpful graph of the net gain or loss across your entire portfolio.

In addition to traditional stop-loss and limit orders that are executed automatically, you can enter a “trigger” order. A trigger order allows you to take a profit once the price of your digital asset has reached your target level without involving the additional risk of a partial or missed execution. Once your target level is traded, a market order is triggered and executes your order in full at the prevailing market price.

When it comes to security, MDM has partnered with Genesis Custody, a global leader in digital asset marketplaces, to provide unparalleled military-grade security for your crypto investments. MDM includes Hardware Security Module (HSM) cold storage, which is offline storage in former military nuclear attack bunkers, providing one of the most secure cryptocurrency storage methods available in the world. digital asset space.

As an MDM customer, you also benefit from multiple layers of security to prevent unauthorized access to your digital assets. Genesis Custody provides MDM with $600 million in vault insurance to protect customer assets against physical loss, theft or damage. One of the main benefits of MDM’s excellent customer service is that they can help you recover your account if you forget your password without compromising its security.

My digital currency user experience

The MDM platform is intuitive and easy to use, even for someone with no trading experience. After opening an account, the platform interface will display links to the dashboard, portfolio, trading, prices and charts, a Learn section for inexperienced traders, and customer support.

In the trading section of the platform, you have a list of investment options with individual boxes and a buy button. Once you have selected the digital asset you wish to purchase, you enter the dollar amount you wish to allocate towards your purchase and then press the Buy button.

The MDM platform is ideal for traders and investors at all levels of expertise. If you want to get a better idea of ​​how the platform works, you can open a virtual account and start trading cryptos with $50,000 of virtual money.

My digital currency vs competitors

When it comes to crypto IRA accounts, MDM compares very favorably to other companies offering similar services. Additionally, the security level of your crypto IRA and digital assets can be higher with MDM than elsewhere due to its military-grade cold storage method. Benzinga has compiled a chart of how MDM compares to other companies below so you can easily compare these and other features.

Cryptocurrencies are still considered an alternative investment, although digital assets are rapidly becoming more mainstream as more people trade, invest, and make payments using cryptocurrencies. MDM gets an unusually high rating of 4.5 stars for the ease of use of its platform, the high security of the storage of the crypto assets it uses, and its excellent educational and crypto resources. The only drawback of MDM is that the company has not yet developed a mobile application, but its platform can be accessed online through an internet browser using a mobile phone or tablet, as well than on a desktop computer.

My Digital Money Videos

You can check out MDM’s YouTube channel for more information about its platform, crypto IRAs, and other relevant topics.