Is Alto IRA A Scam? (New Way To Invest?) (2022)

June 4, 2022

Is Alto IRA A Scam?

Hello and welcome to my ‘Is Alto IRA A Scam?’ article.

Cryptocurrency is taking the financial industry by storm. Now, the question is are you willing to invest on it? This article entitled ‘Is Alto IRA A Scam?, we will be tackling several questions similar to this one.

Truthfully, opening an IRA account seems to be the move of many in our modern times. Additionally, assets are becoming more diverse and wide.

With that, several companies are utilizing cryptocurrencies, such as bitcoin, as one of their investment types.

Alto IRA is a well-known company using cryptocurrency. In this regard, we will be reviewing their business transactions. Without further ado, let us get this ‘Is Alto IRA A Scam?' started!

Alto IRA Review Quick Summary

Name: Alto IRA

Website: https://www.altoira.com/

Founder and CEO: Eric Satz

Account minimum: $25,000

Fees: $100 per year

Prices: Varies

Rating: 4/5

Alto IRA Logo

Alto IRA - What Is It?

alto-website

Alto IRA is a Nashville, Tennessee-based firm which entered the industry during 2018. Moreover, it allows entrepreneurs and businesses to raise capital from other direct investors of this firm. How unique is that!

Being a self-directed IRA custodian, gives its client the best possible option for asset investments. Furthermore, it offers a whole new light for its clients by allowing them to invest in crypto.

Alternatively, they also dabble on other non-traditional investments. As regards to their list of options,  they have precious metal such as gold, real estate, livestock, and securitized artwork. 

Alto IRA Business Process

alto-ira-products

This unique company operates using two distinct platforms. Once clients have an account, they will be choosing from either Alto IRA or CryptoIRA. The explanations for these two are in the next sections.

Next, choosing you account type will fall under three categories:

  • Traditional IRA
  • Roth IRA
  • SEP IRA

Following that, your account will need funding. You can either use hard cash or rollover your assets from another IRA you have. After that, you can then choose your investments.

One thing I like about Alto IRA is the sheer number of their partners. Consequently, clients are given opportunities to choose one from their extensive list. Filters can be made according to:

  • Investor Accreditation
  • Investment Amount
  • Per-investment Fee
  • Asset Type

Unfortunately, since Alto IRA is a self-directed IRA custodian, they do not have an inventory for the assets I have mentioned. If you want to create gold IRA and other types, I suggest reading about this company.

Products Offered

As already stated, Alto IRA offers Alto IRA or CryptoIRA. I will be talking about the former first.

Alto IRA utilizes the 'Direct' and 'Partner' investments. For partner investments, you choose from the multitude of Alto's partners for a wide variety of assets. Startups, artworks, farmlands, you name it.

On the other hand, direct investments pertain to those transactions without the involvement of said partners. This could be in the form of a small business loan or buying a certain asset.

Meanwhile, CryptoIRA allows you to invest in any digital asset. Alternatively, you can use cryptocurrency for your self-directed IRA. The minimum investment for this type of investment is $10.

Since Alto IRA is working side by side with coinbase exchange, you can choose from well over 150+ coins and tokens.

Arguably, there is no big difference between these types of products. A client can transact any time of the week and monitor the performance of their asset. Needless to say, this separation is done solely to practice tax caution.

Corresponding Fees

Being an organization that utilizes two platforms, Alto IRA has a different structure of payment and fees for each one. The breakdown of said fees can be seen below.

For Alto IRA

  • Choose between Pro or Starter
  • Account fee for pro is $25/month or $250/month (free 2 months)
  • Account fee for starter is $10/month or $100/month (free 2 months)
  • Partner and Private Investment fee which varies
  • $50 account closure
  • Outbound wire transfer

For CryptoIRA

  • Account and Custody Fee are set to $0
  • A trade fee of 1%
  • $50 account closure
  • Outbound wire transfer

Pros and Cons

Pros

  • Different types of IRA are available
  • Low and flat fees
  • Has numerous business partners
  • Can conduct business using cryptocurrency

Cons

  • Does not provide any advice regarding investments to their clients
  • Does not support 401(k) solo accounts
  • Additional fees for every transaction made
  • Cannot invest in stocks or ETFs
  • Since one can use crypto, private keys cannot be given to the owner

Customer Ratings and Reviews

As you can see, not much can be found for reviews and ratings for Alto IRA. They also have no affiliations and accreditations from reputable rating organizations.

Nonetheless, it is worth mentioning that they have a good business name in terms of reviews coming from Trustpilot. It is recommended to invest in business that have been reviewed numerous times and has thousands of immaculate customer ratings.

For that, I recommend visiting and investing in Augusta Precious Metals. Sadly, it must be said that the usage of cryptocurrency is still not available for this firm.

Final Words

To conclude this 'Is Alto IRA A Scam? article, let me just start by saying that it is a legitimate platform. For those of you that is interested in investing through crypto, then this firm is for you!

Interestingly enough, they have a diverse, albeit complicated, investment processes. Clients may find it pleasant being offered many offers, but it may become overwhelming for others.

It is is not a scam! It has a physical headquarters and the services and products they offer are nothing short of tantalizing. Nevertheless, here are some of their weakest suits.

As a custodian. they do not provide any sort of advice to their clients. Bottomline, some rookie investors might find it hard to get a good grasp of things. Also, they do not facilitate 401(k) accounts.

Additionally, since some investors are using cryptocurrency, they will continuously make transactions. With this, you are expected to pay a certain fee for every account movement you do.

This company, Alto IRA, is a legitimate one. Its offers are enticing as well as how well their structure is built. If you are looking for another recommendation, I suggest looking at this company here

As usual, I extend my gratitude for reading my article entitled 'Is Alto IRA A Scam?'. Comments and suggestions are appreciated! Do leave them in the section below.

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 Questions? Call 855-444-7022


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