Hello fellow crypto brothers and sisters.
I would like to to ask your financial/crypto opinion regarding this new craze surrounding the crypto IRA idea.
I do fully understand the concepts, principles and tax advantages available in this type of financial tool.
However, one of my main concerns here is possession and control of our private keys, and therefore, our crypto assets.
My concern is,
what could or would happen to our assets and access to these, not only under normal circumstances, but especially during a financial collapse, a monetary collapse, a devaluation or a general market collapse.
During an ice 9 freeze of the world financial and banking system.
During a bank or market insolvency, cuasing a potential banking bail in.
Under any type of government capital controls resulting from any of the afore mentioned events.
Given the present fiscal and monetary policies, and the current eminent crash of currency and markets, any of these events are very well within the realm of possibilities.
” Not your keys not your coins”.
It is apparent to me that the possession and control of our private keys would be handed over to the trust holder used by the company initiating the IRA account.
Even though the trustee, which would be Sunwest Trust in the case of us using Itrust capital, is most certainly accredited and well established, this control would still no longer be in our hands unless we were to initiate a distribution event or the closing out of the IRA.
That is, if this is not impaired or prevented by any of the above mentioned events.
What do you think are the realistic risks of handing over your keys to a trustee in the event that any of these situations may occur?
This is how it is supposed to work: