Regal Wallet Review (Is This The Best Crypto Service?)(2022)

September 1, 2022

Regal Wallet Review

Welcome to my Regal Wallet Review!

If you haven't been up to date lately, the cryptocurrency market has been garnering a lot of attention from various investors around the world.

Even though it had its ups and downs, cryptocurrency is still growing and investors are really hoping that they find success in it.

First things first, before you dive into the world of cryptocurrency, you must have a trustworthy "wallet" which serves as storage for your crypto investments.

Do you think Regal Wallet is the one you are looking for? Well, you are about to find out in this Regal Wallet Review. Let's get started, shall.

Regal Wallet Review Quick Summary

Name: Regal Wallet

Website >> https://www.regalwallet.com/ (Get your free crypto IRA kit!)

Owner: Regal Assets (Tyler Gallagher)

Price: Varies depending on your investment

Rating: 4/5

Regal Wallet Review Logo

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What is Regal Wallet?

Regal Wallet is the cryptocurrency arm and service provider of Regal Assets, one of the most trusted precious metals investment company today.

With more than 12 years of experience in the IRA industry, Regal Assets already established itself as an excellent precious metals company that investors trust.

However, in 2017, Regal Assets decided to expand its investment services into the world of cryptocurrency. At first, it only started catering to Bitcoin. But over the years, it added more cryptocurrency in its arsenal. We shall get to them later on in the review.

With that, the company offered Regal IRA in which investors can enjoy the benefits of precious metals, crypto and other assets such as stocks and bonds, all at one IRA!

Other than the BitcoinIRA, Regal Assets was the first to acquire cryptocurrency IRA management authorization. This is because, the company was able to recognize and acknowledge the powerful role that crypto could play in an individual's retirement plans, despite having risks.

Regal Assets has been known to provide its clients with education regarding IRA to make sure they fully understand their investments. The company also does the same thing with Regal Wallet.

The company explains well both crypto and precious metals and their advantages and disadvantages to their clients' investment portfolios.

So far, Regal Wallet and Regal Assets sound like they are perfect. Despite all of the positive things it can give, there are still some drawbacks that need to be addressed.

But do not worry because we will go through all of them in this Regal Wallet Review!

Also, you can learn more about Regal Assets by clicking here to check out my review on it!

Also, before we move on, it is always advantageous to diversify your investments. If you plan on investing in precious metals, you can always check out Augusta Precious Metals, which is currently one of the best companies out there!

Regal Wallet Products

Regal offers an extensive range of crypto coins. However, it is quite challenging to find out the exact number of available crypto coins. According to Regal Assets' website, there are 24 crypto coins that they offer.

However, in Regal Wallet's website, there are not details regarding them. Instead, they encourage clients to call their advisors through the number, 1-877-962-1133, to get the detailed information.

Currently, it is known that Regal Wallet chose large-cap cryptocurrencies that either possess their own blockchain (such as Bitcoin and Ethereum) or are ERC-20 tokens with their own real utility (Aave).

If you did not know, large-cap cryptocurrencies like the ones mentioned above can offer several advantages in the real world, which depends on their designs given by their respective blockchains.

However, they share a price potential that is connected to something different, useful and real.

The same thing cannot be applied to "meme tokens". It is a good thing that Regal Wallet stayed away from those type of tokens to ensure the safety of its clients. If you are looking to invest in these small-cap coins, then I suggest you look for another company specialized in those.

Currently, there are over 15,000 kinds of cryptocurrencies in the market. Majority of them are ERC-20 tokens. They piggyback the Ethereum blockchain since they do not have their own blockchains.

Some of these tokens have value such as the Aave, which is focused on Decentralized Finance or DeFi. However, a handful of "meme tokens" are only known because of their funny internet material.

There are times wherein their value skyrockets, however, smart investors would not risk their live savings on them. With that in mind, we will be going through the top 10 cryptocurrencies offered by Regal Wallet below.

Bitcoin (BTC)

Anyone who heard about cryptocurrency should know what Bitcoin is. It basically pioneered the world of cryptocurrencies.

It was launched in 2009 and is the biggest cryptocurrency so far, taking up 40% of the whole sector with $833 billion of market capitalization.

Since it is considered a large-cap crypto, Bitcoin cannot lose its value, unlike the dollar, to over-supply.

Paypal, Square and other payment providers already Bitcoin payments. Moreover, in the United States of America, there are already over 50,000 Bitcoin ATMS.

Ether (ETH)

Considered as the second largest cryptocurrency in terms of size, Ether (native cryptocurrency of the Ethereum blockchain), was designed for providing a building area for the other blockchains. This is different compared to Bitcoin, which is designed for payments.

You may have heard of NFTs or Non-Fungible Tokens. Well, Ethereum is basically their foundation. The same thing can be said to ERC-20 tokens.

Currently, Ether has a $370 billion market capitalization.

Aave (AAVE)

Aave is one of the DeFi cryptocurrencies. DeFi is short for Decentralized Finance, a new method of internet banking without the control of banks.

This crypto is also known as "liquidity pools". With Aave, users can acquire financing options such as flash loans.

Currently, Aave has a $2 billion market capitalization.

Cardano (ADA)

Considered as the 7th largest cryptocurrency, Cardano provides a blockchain for other blockchains, similar to the Ethereum, which is its direct competitor.

Currently, Cardano has a $40 billion market capitalization.

Bitcoin Hash (BCH)

Bitcoin Hash was created based on Bitcoin, back in 2017. It was designed to provide a faster and more convenient payment system with lower fees.

With that, BCH is only used for small-scale transactions. It is the 28th largest cryptocurrency with over $6 billion market capitalization.

Dogecoin (DOGE)

Dogecoin is one of the "meme tokens" that is available in Regal Wallet. It is based on the Doge meme (a picture of a Shiba Inu, a Japanese dog breed) and was the first "meme token" to be created, in 2013.

DOGE was created for payment purposes, like Bitcoin, and actually has a large following of over 2.5 million followers on Twitter.

Currently, it is the 8th largest cryptocurrency with a $21 billion market capitalization.

Cosmos (ATOM)

Cosmos was designed to provide support to smart contracts and "dapps" or decentralized apps.

Like Cardano, Cosmos has the potential that could overthrow Ethereum from the second-biggest crypto title.

Atom, the native crypto of Cosmos has a very volatile price in the market. Currently, it has over $8 billion market capitalization.

Tezos (XTZ)

Lately, there is a new kind of cryptocurrency that provides Proof-of-Stake, not the usual Proof-of-Work protocol that Bitcoin uses. 

The former utilizes less electricity. This means that it is cheaper and is environment-friendly.

Tezos is part of this new cryptocurrency and currently, it has a $3.5 billion market capitalization.

Chainlink (LINK)

Plays the role of an "oracle" of the Ethereum network, Chainlink links the Ethereum blockchain to smart contracts with real world data. 

Currently, Chainlink has an $8.5 billion market capitalization.

Litecoin (LTC)

Litecoin is another payment-designed cryptocurrency. It was launched in 2011, making it one of the oldest cryptocurrencies in the market.

However, let's not underestimate LTC since its transaction speed is four times faster than Bitcoin!

Currently, it is the 20th largest crypto with over $9 billion market capitalization.

Regal Wallet Crypto Watch

Another product that Regal Wallet offers is a luxurious crypto handwatch called "Free the Money, Free the World".

This was created in partnership with the elite Swiss watchmakers Franck Mueller, and was co-designed by Regal's owner and CEO, Tyler Gallagher.

It is priced at $13,000 and allows the owner to store Bitcoin Hash (BCH) in cold storage, through a sealed USB unit that is found inside the watch.

The owner can digitally access the storage through a unique address given to him/her. It is pretty much the same as the normal crypto wallet.

However, you have to take note that the IRS urges investors to store their crypto in an IRA with an authorized and trusted custodian. In Regal Wallet's case, Kingdom Trust.

You are not allowed to store IRA crypto in any crypto watch or wallet.

Regal Wallet Services

Regal Wallet IRA custodian

In my book, it is always good to work with IRA companies that either have their own custodians or they are partnered up with reputable and trustworthy IRA custodians.

Regal Wallet is currently working together with Kingdom Trust as its IRA custodian. For you wo do not know, Kingdom Trust is one of the trusted qualified IRA custodian that is regulated by the South Dakota Division of Banking.

With Kingdom Trust, Regal Wallet is able to provide its clients with low fees in the self-directed IRA market.

Regal Wallet Cryptocurrency Storage

As of now, there are no information on its website regarding this. However, Regal's Crypto IRA has been widely known for its straightforward approach to security.

Regal stores its clients' crypto in what we call, "cold wallet", a digital bank data that is actually entirely offline. This means that hackers can penetrate it because the wallet is rarely connected to the internet, using another computer that does not have the authority to make any decisions.

Apart from this, the IRA owner's private key is also stored offline. To further add security, Regal Wallet offers crypto insurance through Lloyds of London.

Regal Wallet IRA Rollover and Transfer

With Regal Wallet, you can also do rollover or transfers from your existing IRA to your new Regal IRA.

There are no detailed information regarding this on their website. However, you can still trust Regal Assets with this. After all, the company has been included in Investopedia's Best IRA For Rollovers of 2022's Top 6 IRA companies.

But if you want to make sure, you can always give them a call and ask questions.

Regal Wallet Free Crypto IRA Kit

Regal is one of the IRA companies that value education. They make sure that their clients are fully knowledgeable of what they are investing in.

With that, Regal Wallet offers a free crypto IRA kit to its new clients. Apart from this, clients also receive a DVD titled, "The Rise of Bitcoin", and a free Forbes magazine.

Regal Wallet only needs to collect some personal details of the client. But fear not. Regal is very serious about the security of its clients and their information.

In fact, Regal's Privacy Policy says that all of the emails that clients receive from the company will contain an opt-out link. By clicking, the client can permanently remove his/her name from Regal's email list.

Regal Wallet Online Trading Platform

Regal Wallet also provides one of the best beginner-friendly online training platform.

The interface is simple and clients can easily navigate through it. All they need to learn is how to properly invest in crypto.

How does it work?

Regal Wallet Review Process

The picture above sums up Regal Wallet's sign-up process. It is actually quite easy and smooth.

Clients only need to fill up Regal's Crypto IRA form. Afterwards, they will set-up your account within 24 hours. Then you can freely choose to fund your account.

You can order cryptocurrencies you like, and Regal Wallet will make all of the purchases you need to be stored on your behalf. You can always check your Crypto IRA account 

Regal Wallet Costs and Fees

Regal wallet services

regal wallet fees

IRA account set-up fee

N/A

IRA management and cryptocurrency storage

$250 per year

Special Promotions

First year fees are WAIVED!

Similar to any IRA companies out there, Regal Wallet charges transaction fees. Otherwise, how will they be able to continue with their operations, right?

Anyways, I have mentioned that Regal Wallet partnered up with an IRA custodian, Kingdom Trust, which charges a 1% fee for all digital assets transactions.

However, we are not sure if Regal also charges on top of that. This makes our estimation not 100% accurate. I believe that Regal Wallet should at least inform clients about this on their website.

Unfortunately, no details are found. Chances are, clients will only know when they give Regal Wallet a call.

In comparison, some crypto exchanges and brokers out there charge less than 1% fee. But, they do make money from deposit fees, as well as spread fees, which is basically the difference between the cost you can sell at and the cost that you can buy at.

Again, there are no information regarding spread fees on Regal's website and Kingdom Trust's website.

However, Regal IRAs use spread fees that are offered by Coinbase, a large U.S. crypto exchange, and the fees are actually reasonable.

Regal Wallet Account Minimum

After signing up, you can activate your Regal Wallet crypto IRA account by depositing a minimum amount of $10,000.

This is actually in line with the other IRA companies in the industry. Moreover, there is a minimum crypto transaction threshold, which is $5,000.

This means that investors must really commit a certain amount of money to one crypto coin. But, this also helps in preventing your your funds from going to small-scale investments.

Regal Wallet Ratings and Reviews

Below are the ratings and reviews that Regal Wallet received from various websites.

  • BBB - 3.23/5 rating, B+ rating, not BBB accredited, 13 reviews and 9 complaints
  • BCA - 5/5 rating, AAA rating based on 57 reviews
  • Facebook
  • Trustlink - 4.5/5 rating based on 1086 reviews and complaints

As you can see, Regal received outstanding reviews from BCA and Trustlink. However, in the case of BBB, Regal received poor ratings, which in my book can be quite alarming.

It is also not BBB accredited and had complaints in the past. But fear not, because these complaints were already resolved.

Regal Wallet Pros and Cons

Pros

  • Offers an IRA account that is good for both crypto and precious metals
  • Secure cold storage for crypto assets
  • Offers more than 25 kinds of cryptos
  • Forbes Financial Council Member
  • IRA set-up is available 24/7
  • Lloyds of London covers over $200 million insurance
  • A fixed fee of $250 per year and the first year fees are waived
  • AAA rating on BCA

Cons

  • Fee information are not available on the website; calling them is a must to know
  • Not BBB accredited
  • No dedicated customer education department or policy

Is Regal Wallet a scam?

To conclude this Regal Wallet Review, let's answer this question.

First and foremost, Regal Wallet is not a scam. It is owned by one of the well-known and trust precious metals company in the industry, Regal Assets.

Moreover, it has been in the industry for a long time, In fact, it is one of the companies that expanded to the world of cryptocurrency.

It offers an excellent range of products and services. Moreover, they really take security seriously, making sure that its clients' investments are safe.

Other than that, Regal Wallet is partnered up with a trusted custodian, Kingdom Trust.

The only downside to the company is the lack of information in its website regarding important details such as the fees and the kinds of cryptos that it offers.

Moreover, if you really value reviews, especially the ones from BBB, then you might have doubts because of Regal Wallet's poor rating from BBB and its history of complaints from the company.

Nevertheless, the Regal Wallet is legit and offers good products and services.

Thank you so much for reading my Regal Wallet Review! If you have any comments or questions, feel free to leave them below!

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 Questions? Call 855-444-7022


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