It is not that easy to find a trustworthy investment company, with so many options available on the market. It can be particularly difficult for those who have just started exploring the niche of investing in gold, precious metals, cryptocurrencies, etc. You may feel overwhelmed by all the offers from companies claiming to be better than any of their competitors. Fortunately, we are here to help you in making the right decision!
While doing your research, you may have come across My Digital Money, and it’s no surprise since it’s one of the leading companies offering IRA investments. Before deciding whether it is the right option for you, you may be interested in reading relevant My Digital Money reviews. And here goes one of them, prepared by our expert team!
My Digital Money Company Overview
My Digital Money (often referred to as MDM) is a company offering mostly cryptocurrency IRA solutions, providing retirement investors with outstanding security and simplicity while investing in Bitcoin and altcoins.
It was founded by Collin Plume and Guy Gotslak in April 2021, and from the very beginning, it has been a full-service crypto investment service provider. Not long after it emerged, MDM developed so well that it started to be one of the most well-known names in the crypto IRA investing niche.
Interestingly, My Digital Money is a successor of Noble Bitcoin, which was a subsidiary of Noble Gold Investments focused on cryptocurrency investments. As Noble Gold has abandoned its Noble Bitcoin branch, it turned into a separate and independent entity as MDM.
My Digital Money offers integrity, security, and customer-first transparency in the Bitcoin and crypto IRA niche, which is not without its scams, scandals, and con-men. Still, it is a pretty young crypto IRA company, and it still has a lot to prove.
Now, in 2023, MDM makes it possible for investors to include precious metals in their digital investment accounts. They have a partnership with Equity Trust in storing fractional precious metals with a storage fee of 0.0417% a month. Nevertheless, they keep full ownership of physical silver, gold, or platinum.
My Digital Money Products and Services
My Digital Money is planning to release a complete self-directed crypto trading platform with all the digital assets available, but it is not known if all cryptocurrencies will be available for trading straight away. Nonetheless, they aim to introduce all the cryptos as soon as possible.
Here are the IRA-approved assets currently available on My Digital Money:
| Name | Description |
| Bitcoin (BTC) | Bitcoin was the first digital currency on the market, and it is still one of the most popular ones, operating without any central control or government banks. |
| Ethereum (ETH) | Ethereum is an open-source, decentralized blockchain appreciated for its smart contract capabilities. The native cryptocurrency of the platform is ether. |
| Litecoin (LTC) | Litecoin is a peer-to-peer cryptocurrency that also works as an open-source software governed by the MIT/X11 license. |
| Ethereum Classic (ETC) | Ethereum Classic (ETC) is an open-source platform based on the Ethereum blockchain that uses smart contracts based on POW (proof of work). It emerged in 2016 and is very popular in the NFT trading world. |
| Chainlink (LINK) | Chainlink is a software platform that allows blockchains to connect with external data. It uses link as its native cryptocurrency. |
| Bitcoin Cash (BCH) | Bitcoin Cash was forked from Bitcoin in 2016, providing several distinguishing features |
| Decentraland (MANA) | Decentraland is a decentralized 3D virtual reality platform based on the Ethereum blockchain. |
| Uniswap (UNI) | Uniswap is a decentralized token allowing for easier trading on the Ethereum network. |
| Zcash (ZEC) | Zcash is a cryptocurrency designed to apply cryptography in order to improve user privacy when compared to Bitcoin or other cryptocurrencies. |
| Maker (MKR) | Maker is an Ethereum utility token and governance token that is compatible with the Maker system’s operations. |
| Aave (AAVE) | Aave is a decentralized finance protocol that makes it possible for users to borrow and lend cryptocurrencies. |
| The Graph (GRT) | The Graph is an Ethereum token that supports a decentralized protocol allowing users to index and query data from blockchains. |
| Basic Attention Token (BAT) | Basic Attention Token works as a contract on an Ethereum blockchain as a system for tracking media consumers, developed to enhance privacy. |
| USD Coin (USDC) | USD Coin works on the Ethereum platform and it is tied to the US Dollar. |
| Compound (COMP) | Compound is a token based on Ethereum that gives the community the power to administer the Compound protocol. |
| Livepeer (LPT) | Livepeer is powered by the Ethereum blockchain and serves as a decentralized video streaming network. |
| Stellar (XLM) | Stellar is a decentralized protocol allowing users to transfer digital currency to fiat money, both domestically and internationally. |
| Dai (DAI) | Dai is a stable coin managed by the community and running on the Ethereum network. |
| Solana (SOL) | Solana is a cryptocurrency that emerged in 2020 and can now be bought and sold on 386 crypto markets. |
Fractional Silver, Gold, and Platinum
Even though My Digital Money is mostly focused on cryptocurrencies, it is also possible to include fractional quantities of precious metal assets in your digital investment account. Thanks to the partnership with Equity Trust, you can transfer IRA or 401(k) precious metals (such as silver, gold and platinum) at low fees. As purchases are fractional, you can buy as little as $10 worth of a chosen precious metal. In this way, such investments are cheaper and more accessible for an average retirement investor.
My Digital Money IRA Fees & Costs
My Digital Money does not charge storage fees for crypto assets. The transaction fees need to be covered only when you sell and buy crypto. However, storage fees apply when it comes to precious metals.
In 2023, My Digital Money allows for keeping fractional precious metals in investing or trading accounts for a 0.0417% monthly storage fee.
Transaction Fee Pricing Tiers
Here, you can see the fees that apply for each respective pricing tier. Keep in mind that investing in My Digital Money is not an ETF – you can buy and store actual cryptocurrencies with your tax-deferred or tax-free retirement money.
| Tier Number | Transaction Fee | Tier Amount |
| Tier 1 | 1.90% | < $25,000 |
| Tier 2 | 1.75% | $25,000 – $50,000 |
| Tier 3 | 1.50% | $50,000 – $100,000 |
| Tier 4 | 1.25% | $100,000 – $250,000 |
| Tier 5 | 1.00% | $250,000 – $500,000 |
| Tier 6 | .90% | $500,000 and above |
My Digital Money Customer Support
MDM has well-organized and reliable customer service. You can reach out to them on their toll-free U.S. number. If it is not urgent, you can also send them a message by filling out an online contact form and providing your contact information so that they can message you back. If you need their physical address, it is also clearly visible on their website – they are located in Pasadena, California.
The customer support representatives at My Digital Money are very responsive and quickly answer a phone call. The company is also present on social media, such as Facebook, Instagram, or LinkedIn, so you can also connect with them there. However, sadly, there is no online chat option available on their website.
My Digital Money Reviews
As it is still quite a young business, you are not likely to find a large number of My Digital Money reviews or ratings for now. However, from what they managed to gather so far, their customers seem to be satisfied with their service. It is no wonder, as they originate from Noble Bitcoin, a widely respected Bitcoin IRA company.
Getting Started with My Digital Money
It is not hard to open an account with MDM – you just need to go to their sign-up page and provide all the necessary information. You will go through three short sign-up pages that require basic personal data, like your email address or phone number and a more sensitive one, including your date of birth and SSN.
Pros and Cons of My Digital Money
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Final Thoughts on My Digital Money
All in all, even though My Digital Money is still pretty young and has a lot to prove, it seems to be reliable and beneficial for investors. We do not like that it does not have a mobile app and that account termination fees apply, but we appreciate many other things.
One of the biggest advantages of MDM is that it does not charge you for storing crypto assets and charges just a relatively low fee for fractional precious metals. Apart from that, we liked the simplicity of their interface, the wide choice of cryptocurrencies, the fee transparency, and the military-grade security, to name but a few. It can be worth a shot!
However, to have a wider choice of options when it comes to your IRA investment, you can also read other reviews we have written, such as:
- Augusta Precious Metals (Recommended)
- Advantage Gold
- Regal Assets
- Noble Gold Investments
- Goldco Precious Metals
- Patriot Gold Group
Article Sources
At Gold IRA Blueprint, we dive deep into the world of gold IRAs, using trusted sources to back up our insights. Our sources range from official documents to expert interviews, ensuring our content is both accurate and reliable. We also draw on research from reputable publishers to give you the most comprehensive understanding possible. Check out our editorial policy to see how we maintain our high standards for accuracy and fairness. Also make sure to check out our Financial Review Process to have a better understanding of our process.
- https://www.retirementliving.com/reviews/my-digital-money
- https://www.benzinga.com/money/my-digital-money-review
- https://www.mydigitalmoney.com/
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