My Digital Money Crypto IRA Review

November 12


My Digital Money Review: Honest Crypto IRA Platform?

Yemi Jimason

Disclosure: We are reader-supported. If you buy through links on our site, we may earn a commission. Learn more.

With crypto IRAs, security is the name of the game, and MyDigitalMoney offers that in spades. How can that be for a company whose listing on the Better Business Bureau opened in November 2021? The answer lies in the company brass. 

Cryptocurrency IRA companies, and even exchanges for that matter, these days focus heavily on reassuring customers and instilling confidence. In this, you are no different than a big-money institutional investor that wants safety before putting in the capital.

With MDM, you'll get that and plenty more. But first a little bit about the organization itself. 

My Digital Money logo

Learn the Secrets to Investing in Crypto

My Digital Money Guide

Download Your Free Crypto Guide

MyDigitalMoney's free guide to cryptocurrency investing reveals the history of crypto, blockchain, investment strategies, and more...

as seen in media outlets like Forbes and MarketWatch

About My Digital Money 

We've said that the brass here makes a difference, and with good reason. The CEO and founder of the company is one Collin Plume. You might have encountered his name in our Noble Gold Investments review, where he occupies the same position.

In short, Noble Gold is one of the more reputable companies in the gold IRA sector, which gives Plume exactly the kind of background we might hope for. The relatively new opening date of MyDigitalMoney becomes somewhat irrelevant when we take into account Noble Gold's own years in the business and its great track record.

So we can count on Plume and his team to very much know the ropes here, and their foray into crypto to be merely an extension of a well-established company. Other key personnel in the company are also economists with decades of experience, and you might have seen MDM mentioned in outlets like Forbes, CNBC and more.

The more we dig into what the company offers and how it operates, the more we get a feeling that there are indeed experienced people holding the reins.

Visit to learn more.

What assets does MyDigitalMoney offer?


Being a Bitcoin IRA company, MyDigitalMoney functions similarly to its precious metals sister company, but with some noted benefits we'll outline soon. After opening an account, those looking to buy and sell crypto will have plenty of options.

As tends to be the case with all companies of this kind, the list is always changing, but here's what you can currently expect on offer:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Chainlink (LINK)
  • Uniswap (UNI)
  • Ethereum Classic (ETC)
  • Decentraland (MANA)
  • Aave (AAVE)
  • Zcash (ZEC)
  • The Graph (GRT)
  • Maker (MKR)
  • Dai (DAI)
  • Compound (COMP)
  • USD Coin (USDC)
  • Solana (SOL)
  • Stellar (XLM)
  • Livepeer (LPT)
  • Basic Attention Token (BAT)

Every sensible crypto IRA company tries to strike a balance between popular demand and project promise, and MyDigitalMoney is no different.

As some products go under and others rise to prominence, you can expect this list to be updated accordingly. As it stands now, it's a fairly extensive selection of digital money offers.

Fractional metals

It's not exactly uncommon to pair digital gold and other precious metals with cryptocurrencies in a company like this, as both fall under the category of alternative assets. However, MyDigitalMoney takes a different step by calling them "fractional metals".

It seems that this is because the company wishes to prioritize cryptocurrency investment, seemingly encouraging users to buy gold, silver and the like in incremental amounts. Based on the storage fee outlined below, these assets are backed by physical metals in pretty direct fashion as opposed to being merely a digital gold token.

How to open and fund a MyDigitalMoney crypto account?

We'll soon go into what makes MyDigitalMoney stand out from both the competitors in the crypto IRA sector and regular exchanges. For now, let's say that that MDM lets you open two kinds of accounts:

1.      A cash account, whereby your account will resemble something you might have on an exchange but with added benefits, and

2.      A crypto IRA, which functions similarly to any self-directed retirement account you might be familiar with and also comes with things like OTC trading on the MDM platform

In the case of crypto IRAs, the account can be funded by rolling over a variety of other retirement accounts. For example:

  • SEP
  • Simple IRA
  • TSP
  • Traditional IRA
  • Roth IRA
  • 401(k)
  • 403(b)

Whether you decide on a cash or IRA account, both have a fairly stringent KYC verification process, as is the norm for any company of this kind. However, you can expect your crypto IRA to take a little longer and be a bit more complex because it's a specialized kind of investment vehicle.

The custodian will need various paperwork when opening a tax-advantaged retirement account, and things might get delayed on that front. In general, though, most accounts are opened and ready in 1-2 weeks regardless of how big of a pile of paperwork was involved. 

Download your free crypto buyer's guide from My Digital Money today.

MyDigitalMoney fees, storage and custody

MyDigitalMoney's custodian is Equity Trust, one of the largest custody providers in the U.S. If so desired, there's a good chance they can facilitate opening an account through another custodian of your choosing.

MyDigitalMoney's fee structure is both unique and more transparent than a lot of self-directed IRA companies or crypto exchanges. Here's an outline for starters:

  • No account setup fee
  • No minimum investment fee for a cash account and a $5,000 investment minimum for an IRA
  • A monthly fee for the storage of metals that amounts to less than 0.05% of the total investment value
  • No annual fees
  • .9-1.9% fee for an individual platform transaction

Here is where the unique part kicks in. While a lot of IRA companies have perks for customers with a higher investment, MDM is more transparent about these than most.

They group accounts in 6 tiers, the first being under $25,000 and the sixth being over $500,000. Your trading fee gets smaller the larger your portfolio is, going from 1.90% in the former case to .90% in the latter case.


Transaction Fee

Tier Amount

Tier 1


< $25,000

Tier 2



Tier 3



Tier 4



Tier 5



Tier 6


$500k and above

In other words, if you invest in cryptocurrency in an amount larger than $500,000, you'll pay half as much as you would for an individual trade than someone with an IRA that falls in the tier 1 category.

It's a pretty good bonus, but even the tier 1 fee isn't excessive, since retirement savings aren't usually used for frequent intraday trading.

Related: iTrustCapital Review - Best for Crypto IRAs?

My Digital Money logo

Learn the Secrets to Investing in Crypto

My Digital Money Guide

Download Your Free Crypto Guide

MyDigitalMoney's free guide to cryptocurrency investing reveals the history of crypto, blockchain, investment strategies, and more...

as seen in media outlets like Forbes and MarketWatch

What do we like about My Digital Money?

There are quite a few good sides that make this company stand out from its competitors right away, and none that are really bad or particularly negative. We mentioned that the company has both cash and IRA accounts.

Even though they specialize in retirement investments, what this means is that you'll have access to a more trustworthy company with tailored customer support even as a "regular" user.

This perk becomes all the more prominent when comparing how the assets are held: under your name as opposed to the exchanges' disposal. Holding assets under customers' names and off the company's balance sheet is common practice for IRA companies, but not so much when it comes to crypto exchanges. So MDM is definitely appealing as a secure crypto trading platform due to this.

When it comes to security, My Digital Money offers what they refer to as military-grade security protocals. The company stores digital assets in Hardware Security Module (HSM) cold storage. IF security is a top concern, you should consider My Digital Money.

Then there's "Play Money". We've heard of crypto investment being compared to gambling, but we haven't really seen a company take the comparison so far. It's a good thing, of course: the Play Money that MDM offers lets you test out your trades and see how well you would have fared if you made them without sustaining any losses.

Sure, the gains won't be there either, but this can be a very important tool for anyone that isn't a HODLer and wants more out of their account than static storage.

Education and customer support are again what separates My Digital Money from any crypto exchange. If you've dealt with these exchanges, you'll know that support is automated, education is scarce, difficult to understand and oftentimes just there for promotion purposes.

MDM instead offers the same kind of personalized customer support, U.S. phone number and all, that those who've worked with reputable precious metals IRA companies can expect. 

Related: BitIRA Review - Reputation, Fees, Online Ratings, and More

My Digital Money user reviews

Perhaps because the company is so new, its online review profile is a little lacking. We can assume this will fill out as they get some years under their belt. While they remain absent on quite a few larger watchdog sites, they're featured on the Better Business Bureau with an A rating, just short of the highest grade.

To dig deeper for customer feedback, we've went to Google Reviews, which gives them a 5 out of 5 stars based on 42 reviews. Both on the BBB and Google Reviews, users have some very nice things to say about their company dealings, starting with the representative's handling their account. That's not something you're likely to find in the reviews of a crypto exchange.

My Digital Money Reviews on Google

Customers describe how MDM assisted them with various kinds of transfers, including tokens directly from other platforms, with minimal experience on the customer's part. We like this review in particular:

Nothing in the way of complaints, so we assume the company is handling their business well across the board. 

MyDigitalMoney Pros and Cons

  • Easy to open an account, intuitive and simple to use platform
  • Good selection of tokens as well as precious metals with physical backing
  • Close to unparalleled security when it comes to storage of all assets
  • Missing a few popular coins such as Dogecoin
  • No mobile app at this time 
  • For the frequent trader, fees are higher than some popular exchanges 

MyDigitalMoney is an easy to use and secure platform that makes buying alternative assets like crypto and physical metals simple. 

My Digital Money FAQs

Is MyDigitalMoney the same as MyDigitalCash?

Yes, that is a rebranding on the company's part of sorts. You are safe to assume that MyDigitalMoney refers to MyDigitalCash and the other way around, too. And while they don't have the same staff, you can glean a little from whatever info you come across of Noble Gold as somewhat pertaining to MDM as well, since they're sister companies.

What is the "Play Money" that the company offers?

All cryptocurrencies can be considered virtual, so this part can be a little confusing. Play Money is basically a testing tool for you to see how well you can perform trades.

The company lets you use the platform, but with "fake" money to see how well your bets perform. If you've made a few good calls with your play trigger order, you can move onto the real thing. You can or can not choose to use this to begin with: it's entirely optional.

Is MyDigitalMoney's investment minimum competitive?

With an investment minimum of $5,000 for crypto IRAs, stated to be lower for some accounts, and $0 for cash accounts, MyDigitalMoney competes with both crypto IRA companies and crypto exchanges. Even if you have a small investment minimum, you can expect to enjoy the full customer support that MDM provides to its customers.

Are there hidden fees associated with a MDM account?

MyDigitalMoney is transparent in regards to both transaction fees and account fees. They state that their account setup and annual maintenance fee is $0, which is obviously very attractive. Every account is treated individually, but you can expect this to apply to you. While some might not like the idea of having to pay for the storage of digital gold, it's the price of buying derivatives that have a good physical backing to them.

My Digital Money Review – Verdict

It's not easy to get a jump start in a sector that only jumped on the scene in 2017, but with Plume's expertise as the CEO of Noble Gold, that's exactly what MyDigitalMoney boasts. In the brief time that the company has been around, both Plume and some key members of his staff have helped establish it, whether through frequent analyses mixed with promotions or just doing good business.

Although we'd like to see the company featured on more review sites, we'll give them a full pass due to having been in business for less than two years. Those review sites that do feature the company have users unanimously agreeing that they're someone you can trust your money with over any stretch of time.

Based on everything we've come across as well as our experience with Noble Gold, we have to agree with that statement.

My Digital Money logo

Learn the Secrets to Investing in Crypto

My Digital Money Guide

Download Your Free Crypto Guide

MyDigitalMoney's free guide to cryptocurrency investing reveals the history of crypto, blockchain, investment strategies, and more...

as seen in media outlets like Forbes and MarketWatch

About the Author

Yemi Jimason is a seasoned digital entrepreneur, writer, and podcast host, with over 20 years of experience in media and entertainment. He shares his journey in personal development and financial independence on his blog,

Yemi Jimason


You may also like

Are You an Income Insider?

Get Insider News Delivered Straight to Your Inbox...