Crypto, Tax-Free & Safe. Peter Thiel Method | 20 Hours to $200K ★

Thank you for doing the right things in during 2022 because out of everybody that uh crashed, you guys did not. You guys weathered the storm, did the right things, and now here we are picking up the slack and things are looking good. So, I appreciate it >> for sure. I mean, we we really appreciate you. It's been a long fun journey. I think our focus is just transparency. I mean, our CEO, Kevin Maloney, talks about it all the time. It's just being really transparent, honest, and and being in the same ship. Uh, growing with our clients has always been really important to us. And if you do the right thing and be honest and be transparent, you know, it really does go a long way. [clears throat] And I think it's just helped us have longevity as an organization since we uh were founded in 2019. >> Yeah. And it's a I mean, we've done pretty well. I mean, moving forward, I will tell you. And it's been uh it's been quite a like you said quite a journey. So as a quick reminder as I talk about this every I don't know couple days on the show. I am concerned about safety. I'm concerned about people making massive gains but losing those gains because it's not how much you make, it's how much you keep. >> Yeah. >> And as far as like diversification of investments, it's a good idea for diversification especially if you know you know which ones to get into. It's also a great idea for a diversification of storage. So, uh, we're using Tangum for this charity event. All the donations that are coming in are going onto the Tangum wallet, which will then be go put into Kraken. It's great to have Tangum, but there's only so much we can do here. This is why I put things into it. And I will tell you after the uh cold card hack, Jared, let's I just want to talk to people about this is as uh to get your funds out of the custody account is a major pain in the A. It is very difficult and it's set up like that to be that way. And I got to tell you, it's a good thing you guys do that because to get funds out is very difficult, which means if I get hacked or something, I don't think there's a way that these guys can take it out. But can you touch on that as far as like with the uh custody service? >> Unfortunately, we've heard story after story after story from our clients that have been socially engineered and fished. >> Even the smartest, most sophisticated, well earning people and professionals get fished and socially engineered, >> right? Maybe they beat the first five and then the sixth one gets them, right? They didn't realize that it wasn't Google that was calling them or they didn't realize that it wasn't Apple that was sending them the two-factor authentication code. They thought maybe they were signing in from another device automatically somehow and then they got the two-factor code and they were really busy and then ended up talking with someone from Apple who they thought was from Apple but really was not. And they get socially engineered. People click on malware all the time. Unfortunately, we've heard from clients who the hacker, the bad actor was in their Gmail account looking at their activity for years, uh took information from the Gmail to eventually get them to give them access to their cold storage device. I mean, we've heard all the stories. So, our platform, we emphasize institutional storage. We utilize Fidelity Digital Assets, Coinbase Prime, as well as Fireblocks. and our clients get to take advantage of our institutional relationships and get access to them as regular retail investors. >> A lot of our Yeah, >> sorry. Go ahead, Jared. >> No, it's a it's a big point of emphasis for us and a a lot of people, they really believe in cold storage. I just want to double click on that for a second because we respect people that want to manage their own keys, but ultimately there are a lot of risks and what we found out this year are a lot of unknown risks and our clients simply want to diversify not just what assets they hold, but how they hold their assets. And having some assets on a tandem or in ledger and then having some in institutional storage ends up being a a good formula for people. And the the one thing that we always talk about and that you always talk about, right? I always look for this 100% scams, 0% exchanges, 0% leverage. And why why is the 0% exchanges emphasized? That concept just means don't necessarily trust other people. And what I think a lot of people don't realize and what they've learned the hard way this year with cold storage is with cold storage, if you're not a Solidity developer or an engineer and manage your own wallet on chain, you are trusting other people with your money through any of these cold storage devices because you're trusting someone else's code, someone else's company. And if they're breached, if their code has flaws, if AI cracks their code, or if they have some sort of data breach, you are kind of back to square one. >> Yeah. And it's it's one of those things where it's I was at uh Bitcoin conference and uh one of the guys that was there, he was talking about I mean, he's been in the crypto space for, you know, before me, I think 2016. And while he was there, he got fished and he just it just let him happen. And it's one of those things where like your guard is down, you're in a location where you're a little bit more tired, you have a little maybe a little bit too much to drink at some point, and then all of a sudden you click on something you shouldn't click on, and then all of a sudden you're like, where did all my funds go? >> And this is the thing you just talked about, Jared. It's like you can you're okay for the first five times, the first 10, 20 times, but the scammers only need one time. That's that's why they are the best investors out there. They don't need to invest any kind of crypto or digital assets or any kind of money. They just have to invest a little bit of time and at some point they're going to get you. I uh actually had my um uh wallet, MetaMask wallet hacked a couple of months ago and I've been in this in this space for you know since 2017. This is the things that we that we go through. So, it's a good point. And uh again, like when we're talking about these things, diversification, [clears throat] diversification of of storage is just to me is a must. And just like what what Jared was talking about, we can talk about the cold card. And that's it's not about what you know. It's not about the things that you know you don't know. It's the things that you don't know that you don't know that get you. And these are the things of why we're trying to uh stave off these different things. Jared, thoughts on this one? >> It touches on the points that I was just making about you're putting your faith and trust in other people to make sure that their technology is good enough to not just save off attackers, but machines. We're in a new a new age now with AI and a lot of these bad actors that were pretty talented to begin with are now utilizing artificial intelligence and LLMs to cast a wider net and to cast a net that is that is more adept at, you know, catching their prey. And that's just the reality. You know, the cold card situation was was really sad. We had some people that were impacted by it. We had a lot of people that heard about it that got their funds from cold card uh into iTrust Capital into our premium custody account, right? You can send crypto uh for a premium custody account in kind directly to us. You can't do that for an IRA unless it's coming from an existing IRA provider. But for our nonIRRA product, the premium custody account, you can just send over crypto in kind. And that that's the the long story short when it came to the cold card situation. Just trusting other people uh doesn't always work out. And that's why it's important to consider diversification in terms of how you hold your crypto. It's it's kind of like the the person rolling around in the 1700s with their gold, all of it on their horse and buggy, right? It's like, well, there's a lot of things that can happen in the Wild West. So, you want to have some buried in a ditch, you know, some hidden in your home, uh maybe some in the local branch of bank, whatever existed back then, and then maybe some on your person, right? But you want to mix up how you hold your assets. >> Yeah. Hey, Jared, remind me, how much does it cost to send crypto in and to take crypto out? If you >> custody, >> we don't we don't charge to send crypto in, right? If you're if you're putting money into a premium custody account, we're not we're not charging you for institutional storage. We are going to charge you if you make a transaction. So, if you send in Bitcoin and then you later on want to diversify into ETH, Soul or XRP, for example. I mean, we have over a 100 digital assets that you can allocate into, but we will charge it's a we charge a 1% transaction fee to get out of Bitcoin and then another 1% to get into another asset. If you want to withdraw your crypto from a premium custody account in kind, we we charge 50 bips for that. >> Got it. So yeah, I just wanted to to bring that point home because people say, "Well, if it's if it's premium custody, custodial services, it should it should cost a lot." Like, no, it's you you send it in now when you want to take it out. So for me, I think it's it's like a win-win. I get to send it in, get it protected, don't have to pay anything. Want to take it out, I have to pay. But I mean, look, it is a business that it is an open economy. So yeah, I can see that. But just to switch gears real quick, as far as from custody, it's not just, you know, it trust isn't just for custody. When I first got into it, it was all about my Roth IRA because as time has gone on, it's coming up rapidly. I'll be able to take things out at 59 and a half. So, you got you're for the Roth IRA, it was crypto, you guys had gold, and now you guys have coming up with uh just traditional equities, stocks, and ETFs, which I like a lot. And then, of course, this is what I always talk about is like it creeps up on you. Before you know it, you're like, "Wow, it's about that time." I'm pretty sure Peter Teal when he did this same thing, he didn't really think about his PayPal stock would be worth billions of dollars. And guess how much he's paying in taxes? Zero. Because it is a tax exempt or a tax first of all tax exempt when you hit 59 and a half years old. And then Jared, remind me for the staking, which you're able to do that with your Roth IRA. Is it just Salana and Ethereum or was there also a couple more you guys have added? We have ETH and we have Soul. We would love to add Cardano at some point. We've and also Sooie. We've we've looked into Cardano. It's a little bit uh more of a complex build for us. We can certainly do it, but ultimately we were a very ambitious company. We have to prioritize things based on client demand. And we ended up having a lot more clients that wanted to see stocks and ETFs on the platform before we did ADA staking, right? And we have well over 100,000 funded accounts. So, we've had a lot of clients make different requests and people want to see uh stocks and ETFs, so we got it done. People want to see cryptobacked loans. So, we're going to work on that next after the other product that I'll talk about in a second, >> right? >> And then hopefully we'll be able to get around to adding some more staking assets um at some point in 2027. >> Hey, you know what? And there's a couple of questions for you right now. We'll we'll get to those last, but there was this post that you guys put out where he said, "For years, crypto investors had two choices. Buy and hold or try to time the market. What about a third option?" Can you talk anything about this or is just a teaser that's going to be coming soon? >> I think this will be launched this month if not if not sooner. Sooner than this month would mean like in the next week or two. We're we're really hoping to have it launched sooner than later. Since I started working at ITR Capital in 2021, clients have asked, "Hey, how do I connect my third-party trading bot to your account?" We've never had the ability to do so. Clients have asked for it throughout the years. But I think what's happened over the last six years is people love crypto. They love Bitcoin. They love ETH or XRP, whatever they choose. They believe so much in crypto, but they've roundt tripped a lot. >> And people last cycle were like, "Oh, it's going to be the super cycle." And I think now people are starting to have that conversation again. But the truth is is that the super cycle narrative or it's really a meme is really just like coping with the fact that crypto is very very volatile and over the last couple of years you could make an argument that stocks and ETFs have provided a better riskadjusted return and have almost eaten cryptos lunch in a lot of ways because of the fact just because of how they've performed. formed. But here's the truth. Our clients and crypto investors love and believe in the asset class. It's not just about performing or outperforming other asset classes. They believe and want to be in this asset class because they think it's going to be a part of the financial future. Tokenization, real world assets, being on corporate balance sheets, etc. So, how do you find that in between? And the way a lot of people find that in between is by trading. But trading is hard. Most of the time you lose when you trade. However, there are a lot of people that do well when it comes to trading. We all follow them online. We all see people that call their shot. We all see people that draw triangles and and and end up figuring out uh when the right time it is to kind of buy and sell. Even if they don't nail the move exactly, they're generally correct about, you know, Bitcoin being overbought or oversold. So what we've what we've worked to create is a product that utilizes AI formulated quantitative trading strategies that are rules-based based on predefined metrics that utilize indicators uh signals and triggers that you see a lot of people use online that end up outperforming buy and hold over time and create alpha and create an edge. So that's what we have come up with is the ability for our clients to opt into strategies that partake in that world. >> You know what, this is something me and Jerry were talking about as far as like the goals of the individual investor and he he's he's getting up there in age just like as we all are, but he says, "You know what? I have to look out for myself right now and what I want to do." And I think for some of the people that have like an a retirement account of a Roth IRA, even if you're even if you're you're younger as well, it's something I forget which is that anytime you trade within your Roth IRA, there is no tax deductions or there's no it's a tax exempt trade. You don't have to pay capital gains. For example, if you would have sold Bitcoin 125K within your Roth IRA retirement account and you would have bought back down at 60K, it doubled essentially, there's no capital gains tax on that. So when Jared talks about like to be able to use a bot to be able to do that, I think that would be a very big win for especially the people that are getting up there in age and are close to the 59 and a half. And that doesn't matter if you're 59 and a half, 50, 40, 30. If you do something like this, I think that would be a pretty uh pretty big win. So I like uh that that direction for sure. >> And it's just all about how you manage your own portfolio. I mean, our clients are they're self-directed people. They're autonomous people. They're they're they're they're they're independent people. They're making their own luck. That's just the kind of people that listen to your show and and and people that that on board to our platform. And the truth is is you don't need to go all in on any asset or any strategy. You can take your portfolio. I mean, once again, we don't provide financial advice, but we're going to see a lot of clients take their portfolios and 90% stick to what they do and then put 10% into the trading strategies. They're going to do 5050. They're going to do 2575. People are going to do whatever they want to do. They're going to stay and do buy and hold probably for some of their assets. But part of diversification is also how you deploy capital. And I think we're going to see a lot of people want to try to partake in the trading aspect of crypto, but take out the emotion just because of all the emotion that goes into buying and holding. >> Yeah, it's well said. So, I'll just say this. If things are a bit ler like I don't understand that this is the great thing about it trust and I've actually met the guys when when I went to California to see my son which is they have a staff of real life people that are there if you'd like to have some questions answered here's the number links in the description you can call somebody and talk to a real person but before we get out of here uh Jared we got some questions from from people >> let's do it >> first one is is Algo is Algo also available on on iTrust I I think what that comes down to is if you go to iritrustc capitalap.com and click on products or excuse me markets you can see that here's the assets cryptos precious metals and stocks if you click on cryptocurrencies you can see all the ones that are available bitcoin ethereum B&B algo I'm not >> alo we've had algo for for a while >> okay have to take a look at it but oh I see why because it's >> you can just search you can search on the top right >> you got There we are. I'll go. Very nice. Okay, got it. That's pretty good. Mary says, "Hello, Jared. I like ITR." I guess it's not really a question, just a shout out. >> Appreciate you. >> Thank you. When staking soul on it, does it work like a drip? Does it autostake the rewards we have earned or do you have to go in there and manually uh put those rewards back in? you get the rewards deposited into your account in soul and then you would need to re rest restake those assets. I know that people have asked for for auto restaking and we we certainly take that seriously. It is on our roadmap to to provide but but for now it's uh you need to manually re rest restake it. >> Gotcha. Hey, just to verify Bodan says you can stake Algo and you can stake Flare. Uh you no you cannot stake ALGO and you cannot stake Flare through our platform. >> Okay it's listed let me see I mean I mean I believe let's see let's see algo >> is is flare okay so flare you can buy >> we have flare yeah we we we have flare you just you just can't uh you just can't stake it. We don't we don't have staking for it. >> Here's a good one and it's it's timely. When is the bit license? Been waiting to use the platform in New York for five to six years. We on board clients in all 50 states. >> Oh, well great. There we go. So Jared, here's the day. And then as a reminder, if you lose the link in the description, you get a $100 funding fee. So not too bad. Pokemon Go. Let's go. Where else? And I And that's it. TF is Flare. Yes, it is. And I think that's that's all we got. Well, Jared, I think that is it for today. Almost 30 minutes or so. I want to say uh I don't want to keep you here. I know you got a lot of things to do. So, thanks for for stopping by and thanks for uh revealing what that uh big mystery was. Looks like it's going to be a trading and trading help. That would be a good uh video to do around that. But that's it for this one. So Jared, thanks for stopping by. Any last words of wisdom for these guys before we get out of here? just stay stay patient, stay motivated, right? We're very lucky to to be in the space and to uh you know have crypto as an available asset class, but also just you know keep keep an open mind. The world's changing very very quickly. So make sure that you're not uh staying too too stubborn when it comes to your investment philosophy. Make sure you're keeping an open mind. >> Uh well said. All right, Jared, thanks so much for for stopping by. We'll get you on the next one. >> All right. Thanks for having me. Take care everyone. >> Take care. So again, thanks to the iTrust team. It's I didn't know that uh they had that many currencies, digital assets, and they had actually opened up the staking and for those in it's good to know. Anyhow, that's interesting also about that uh that trading bot. Have to see how that works out. Anyhow, let's see what we got coming up in the next session. So, first of all, hey, we thank thank you. We're actually above 25K. So either that's because the market went up or more people were donating. Anyhow, regardless, I'm very happy. This is uh turning out to be a pretty darn good day to next one. I want to say it's Andy. Oh, this is going to be a good one. In the next 30 minutes or so, Andy's going to be on. If you're into or want to learn about home Bitcoin mining, Andy is your guy. Also, if you're worried about capital gains tax, which let's be [music] honest, who isn't? I'm not a big fan of giving the government uh 15 to 20% of my cash of my uh profits just because they want it. Did you know [music] that you can take those profits and roll those into a business aspiration which could be Bitcoin mining? And if you're doing Bitcoin mining at home, wouldn't that be interesting to take the gains that you made, put it in that into a Bitcoin miner and everybody's free and clear and you don't have to pay the government. Anyhow, Andy will be here in roughly 30 minutes or so. So, let's take a little break again.