iTrustCapital Introduces Premium Custody Account for Safer Cryptocurrency Transactions
iTrustCapital's new Premium Custody Account offers a secure, closed-loop system for buying, selling, and holding cryptocurrencies, addressing widespread security concerns in the digital asset space.
iTrustCapital has launched the Premium Custody Account (PCA), a closed-loop system designed to enhance the security of cryptocurrency transactions. This innovative approach allows clients to fund their accounts with U.S. dollars or in-kind deposits of crypto assets, with the unique feature that cryptocurrencies cannot be transferred out of the account. Withdrawals are only permitted in U.S. dollars and must be transferred to the client's U.S. bank account, eliminating the risk of digital assets being sent to external wallets and potentially hacked.
The PCA accounts are supported by top-tier U.S.-based custodians like Coinbase Institutional Custody and Fireblocks, ensuring that assets are stored securely off iTrustCapital's balance sheet. This setup guarantees that clients retain full ownership of their assets, which are never leveraged, loaned out, or commingled with business operations. Kevin Maloney, CEO of iTrustCapital, emphasized the importance of this development in mitigating the risks associated with cryptocurrency exchanges and self-custody.
Investors using PCA accounts have 24/7 access to over 75 crypto assets, with the requirement of a minimum $1,000 to open an account and a 1% transaction fee for buying and selling cryptocurrencies. Additionally, iTrustCapital provides award-winning, U.S.-based live support, distinguishing itself from platforms that rely on automated responses or chatbots. This initiative represents a significant step forward in making cryptocurrency investments more secure and accessible to a broader range of investors.