My Digital Money Review: Is This Crypto IRA Platform Safe?

My Digital Money is a trusted and popular crypto-based IRA platform. It’s geared especially towards investing for your retirement, because it allows you to trade cryptocurrencies in a secure and tax-advantaged retirement account.

Better yet, there are no monthly fees in doing such a thing.

Best for Customer Service


  • No monthly fees
  • Secure crypto trading
  • Great customer service
  • Military-grade security

Overall Rating 4/5


Investment Options

Ease of Use

Customer Service

Pros & Cons


  • Crypto IRA account (Individual Retirement Account)
  • No monthly fees
  • Combines both cash and Bitcoin trading
  • Extreme security


  • No dedicated mobile app
  • Fees for terminating your account

Individual Retirement Accounts (IRAs) have existed for a long time, helping people invest into their future retirement and giving them a more secure position later in life.

However, the idea of a cryptocurrency IRA is still quite a new concept, which has led to some people being unsure as to whether it’s an investment approach they want to take.

It’s easy to see why, too. Crypto IRAs have advantages to them, such as the potential for growth and long-term upsides, but they also have their disadvantages.

For example, the medium can be volatile, meaning that the price can fall and you can lose lots.  There are a handful of platforms that allow you to use a cryptocurrency IRA, and My Digital Money is one of the leading names.

Is it a platform going to be easy to use, secure, and promising to your retirement future?  In our detailed review below, we’re going to look at all you need to know about My Digital Money. Read on!

Quick Summary

Service: Crypto IRA's

Custodian Fees: 2.9% per trade

Promotion: $50 or a free NFT to new qualified accounts

About My Digital Money

My Digital Money is a service that embraces both money and technology, bringing the two together in ways that should benefit their users.

They anticipate that not everybody is going to understand the new technologies, of which crypto is still one, so they educate you on what cryptocurrency is and how you can embrace it. 

Using their service, My Digital Money aims to give its clients an easy way to trade cryptocurrency, as well as set up a crypto-based IRA.  

High level security is one of their key focuses and proudest features, because they have partnered with genesis to offer a security system to your trading and investment that is military-grade.

Genesis uses ex-nuclear military bunkers to store their hardware security modules, and they use hybrid multilayer cryptographic security on top of that. 

They offer both cash accounts and cryptocurrency accounts, allowing customers to choose and making their platform accessible to investors of all sorts.

My Digital Money Services

My Digital Money is an easy way to trade in both cryptocurrency and cash, as well as set up a crypto-based IRA. They offer a range of services:

  • Automated ordering with the Stop-Loss features, where you can set it to sell your crypto if the price falls, which will limit your losses without any action on your part.
  • CryptoIRA allows you to invest in your retirement 
  • Alternatively, you can do active trading
  • Responsive client support based in the US
  • Play Money accounts for practicing
  • Tips and guides to teach you crypto


One of the key features of My Digital Money is its CryptoIRA, which allows you to invest in your retirement with cryptocurrency. 

To do this, you’ll need to create a self-directed IRA, which you can then invest in with various different assets – such as crypto.

The whole IRA is based on the idea that investing in promising types of cryptocurrency and building a good portfolio will allow you to then simply leave them be and see the value grow steadily. 

However, since crypto is a risky business, you still need to do the research. You can’t simply invest in any type of cryptocurrency and expect it to grow in value, so much so that it’ll give you a fine retirement account.

Instead, you need to thoroughly analyze every one of your investments. Always ensure that you understand the crypto that you’re buying.

Educational services

Thankfully, My Digital Money offers a wide range of tips and guides on cryptocurrency, which should help you to understand what you’re investing in and why. 

For starters, they have a series of guides on the basics of crypto. In these guides, you can learn about why the medium exists, what blockchain and altcoins are, and the points and positives of certain types of cryptocurrency like Ethereum and Tether. 

They also offer a free Crypto Investment Guide, which you can get by filling out your details on the relevant section of their website.

The guide will teach you all about the history and point of crypto, the purposes of its various types, and get plenty of investing tips to help guide you.

Practicing with play money

If you’re new to crypto and investing, and you’ve been following My Digital Money’s guides and tips, then you may not want to rush in to investing real money straight away.

Thankfully, My Digital Money offers a Play Money account that you can use.  This allows you to use all of the features of My Digital Money’s platform, only you don’t need to risk losing money.

It allows you to practice with Play Money, pretending to make investments, and trying out new trading strategies to see how they work.

This way, you’ll only be simulating any losses you make, and hopefully learning from them for when you’re using real money.


Whether you’re setting up a CryptoIRA account or a cash account with My Digital Money, there will be zero monthly fees.

This is a positive, and puts it above some other crypto services.  Instead, you only pay a fee when you make trades. These Platform Transaction Fees are between 0.9% and 1.9%, and they change on the Tier of your transaction. 

For example, a transaction that is less than $25,000 will be charged a 1.90% transaction fee. Meanwhile, a transaction between $100,000 and $250,000 will be charged a fee of 1.25%.

The highest tier is for transactions of $500,000 and more, and they’re charged the least: 0.90%.  Additionally, when you set up a CryptoIRA, you will be charged a one off setup fee of $50.


Can You Trust My Digital Money?

As you can guess from the overwhelming amount of positive reviews, both from customers and 3rd parties, My Digital Money is a CryptoIRA platform that you can trust.

This is especially true when it comes to their security systems, which are military-grade and should make sure that your investments are secure. 

As with all cryptocurrency investment, there is a risk, since the market is volatile. My Digital Money does prepare you as much as it can for this, by providing lots of guides and tips to help you better understand any investments you make.

Analyzing your investments beforehand is the best way to minimize risk, and My Digital Money will help you do so.

Compare To Other Companies

Best Pricing

Coin IRA


  • Diversification of your investment portfolio to include the latest and fastest-growing investment strategies.
  • Cryptocurrency is designed with a security-conscious mindset, and that security is passed along to your investment.
  • IRAs are an established method for securing investments across decades. That well-established framework applies to coin IRAs as well as traditional IRAs.
  • Cryptocurrency is all-digital, making the purchase and transfer of coin assets easy and convenient.

Best for Tax Advantages

Alto IRA


  • No fees for setting up your account
  • No fees for account management
  • You can invest in over 200 different cryptocurrencies

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My Digital Money Reviews

My Digital Money has received extremely positive reviews across the web, praising how easy it is to use and the quality of its security. 

It’s also enjoyed such praise on Google Reviews from typical customers. A common point of praise from lots of reviewers is how hands-on the experience can be, with the fantastic customer service and the staff who can help guide you through any difficulties.


$50 or a free NFT to new qualified accounts

How To Open An Account

Go onto the My Digital Money website and click “Open An Account” at the top. It’ll take you to a page where you need to fill out details like your name and email. After that, you’ll need to add financial details. 

If you need to transfer over some funds from a different retirement account that you have, then you have to contact the administrator for that retirement account.

Final Thoughts

My Digital Money is a popular crypto-based IRA platform where you can make crypto investments for your retirement. It provides extreme security and helpful guidance in your investments.

Best for Customer Service

Best for Customer Service

My Digital Money is a Crypto IRA platform that lets you securely trade cryptocurrencies in a tax-advantaged retirement account with no monthly fees.