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Based in California, My Digital Money is one of the newest and most trusted companies in the bitcoin IRA investing space. They offer one of the cleanest, simplest platforms for investing and trading cryptocurrencies within an IRA, and offer military-trade security protection. To date, they haven't had a single security breach. While their trading fees can skew a little high, most investors will find incredible value in My Digital Money, especially those who prefer companies who respect their users' privacy and data security.
Pros:
- Great verified ratings Yelp and the BBB
- No annual fees and low maintenance fees
- Partnership with top-rated Equity Trust Company for IRA services
- Simple account setup process
- Perfect security track record
- No data sold to third parties or advertisers
Cons:
- 1.9% per-trade transaction fee
- Newcomer to the scene, founded in 2021
- Some riskier cryptocurrencies are currently unavailable for trading
Founded by industry veteran Collin Plume, the California-based My Digital Money (MDM) is the successor of Noble Bitcoin, which itself was spawned in the mid-2010s as an offshoot of the highly reputed Noble Gold Investments company. Today, MDM operates a completely separate company as Noble Gold has refocused entirely on precious metals investing.
Although a fairly young company, launched in April 2021, My Digital Money is already an active industry player. In fact, in October 2022 the company launched the first-ever “National Cryptocurrency Month” to raise awareness of the transformative potential of cryptocurrency and to bring innovative minds together in the Web 3.0 space.
Still, we had our doubts. That’s why we decided to test out My Digital Money to see what the hype is about, and whether it’s as good as its Noble Bitcoin predecessor, specifically as it relates to Bitcoin IRAs, crypto IRAs, and retirement investing.
My Digital Money Reviews, Ratings, and Complaints
As of 2024, My Digital Money currently has the following reviews and ratings available online:
- Better Business Bureau: ⭐⭐⭐⭐⭐ “A” Rating (Not Currently Accredited)
- Facebook: ⭐⭐⭐⭐⭐ (Based on 1 User Review)
- SourceForge: ⭐⭐⭐⭐⭐ (Based on 1 User Review)
- SlashDot: ⭐⭐⭐⭐⭐ (Based on 1 User Review)
While My Digital Money reviews are scant, you can’t expect much more from a company as young as they are. As the cryptocurrency IRA company matures with time, we will revisit this review to update this section with accurate data.
Nonetheless, My Digital Money has received universally positive reviews to date. At the time of writing, there are no user complaints (verified or otherwise) posted anywhere online. This gives us a fairly high degree of confidence that this company is the real deal and isn’t in the business of disappointing its customers—something that their history as Noble Bitcoin, a widely respected Bitcoin IRA company, confirms.
My Digital Money Management Team & Founders
Collin Plume (Chief Executive Officer)
At the helm of My Digital Money is Collin Plume, the Chief Executive Officer (CEO) and company founder. With over 16 years of industry experience behind him, Mr. Plume has a wealth of precious metals and cryptocurrency investing knowledge that guides the day-to-day operations of the company.
Aside from serving as the CEO and founder of My Digital Money, Collin concurrently acts as CEO of Noble Gold Investments. He has maintained this role since August 2016. To date, Collin has been featured, interviewed, or quoted in such esteemed outlets as Forbes, FXStreet, MarketWatch, and Barron’s.
Collin is also something of an influencer and thought leader within the alternative investing space. As of Q1 2024, Mr. Plume boasts an impressive 15,900+ LinkedIn followers who appear to be most interested in his statements and insights into the crypto and precious metals markets.
Guy Gotslak (President & Co-Founder)
Like his co-founder, Collin Plume, Guy Gotslak has a long pedigree of business leadership that he brings to the table at MDM. A graduate of Northwestern University’s Kellogg School of Management (BS, EMBA), Mr. Gotslak is a self-described “highly analytical, versatile, and customer-focused executive”. He currently has over 1,200 LinkedIn followers.
Mr. Gotslak’s Crunchbase profile lists his work history at Eccella Corporation as a U.S. General Manager and Co-Founder (2012-2018). His LinkedIn profile also lists the following roles:
- .Net Engineer (MySpace, 2008-2010)
- Vice President of Global Solutions (NGDATA, 2018-2020)
- President & Chief Solution Advisor (Techlion Solutions, 2020-2022)
Guy’s experience in alternative investing and cryptocurrency is, admittedly, somewhat limited. Although his role at Techlion Solutions worked tangentially with the financial services industry, he himself had never worked directly in finance or cryptocurrency until co-founding MDM.
Wesley A. Huber (Crypto Analyst)
Lastly, Wesley A. Huber is a professional sports betting analyst best known for his role as a Social Media Manager at Friday Beers LLC, the owner of the popular Friday Beers Instagram franchise. However, Mr. Huber is employed concurrently by My Digital Money to serve as a Crypto Analyst in the Greater Los Angeles Area.
Previously, Wesley served as the Director of Operations for FolioBeyond, an Associate Director of Treesdale Partner (with a focus on fixed-income alternative assets), and a Managing Partner of ATX Mining LLC.
What Is “My Digital Cash”?
My Digital Money is sometimes referred to as “My Digital Cash”, even by the company itself. For instance, the company’s social media accounts use the handle “mydigitalcash”, suggesting that they have embraced the name to some extent.
My Digital Money Fees, Costs, & Pricing Structure
All up-to-date pricing information and My Digital Money fees and minimum deposit criteria are listed in the chart below. Note that, as of 2024, My Digital Money is offering new qualified accounts $50 or a free NFT (non-fungible token).
| One-time loading fee | $50 |
| Monthly custodian fee | $0 for Crypto IRA or Cash Account |
| Per-trade platform transaction fee | 0.90% to 1.9% |
| Per-trade custodian transaction fee | 0.75% |
| Investment minimum | $0 (Individual cash trading account), $10,000 (IRA account) |
| Fractional precious metals monthly storage fee | 0.0417% |
My Digital Money maintains that their fees are subject to change from time to time. To verify whether the fees listed above are accurate, please visit the Fees section of their website. It’s also important to note that, according to a March 2022 official press release, all monthly fees have been eliminated.
Although other platforms offer slightly lower fees (e.g., Coinbase’s 0.50% per-trade fee + 1.49% for Coinbase wallet purchases), MDM is in a comparable price range. The main benefit of MDM, however, is that they offer these low fees while not selling your data to third-party advertisers! Coinbase and Robinhood openly disclose customer data in order to offset fees.
My Digital Money: Most Popular Products
My Digital Money’s two main products are listed below:
- Cash Account: A non-IRA crypto investment account using cash (US dollars)
- Crypto IRA: A tax-advantaged retirement savings account (Roth or Traditional) holding select cryptocurrencies.
Currently, My Digital Money allows users to invest in all of the largest cryptocurrencies by market cap, including the following:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Tether (USDT)
- Binance Coin (BNB)
- Terra (LUNA)
- Ripple (XRP)
Company representatives have previously mentioned that they’re going to launch a full self-directed crypto trading platform in which all main cryptocurrencies are available. Nonetheless, the company plans to make all cryptos available in the near future. Check out this link to see the current full lineup of cryptos available on the platform.
Although some of the cryptocurrency assets listed by MDM are considered high-risk, this means that they allow for a truly self-directed investing experience. If you want full control over which assets you invest in, this company might be for you.
Fractional Precious Metals Investing
If you’re interested in precious metals investing but feel intimidated by the steep price tag that a kilogram or even an ounce of gold carries, My Digital Money has an interesting solution. Through their custodial partner, Equity Trust, they allow fractional precious metals assets to be added to their customers’ investment accounts.
In other words, you can buy one-tenth of a gold ounce for $190 instead of paying $1,900 or more for a full one-ounce gold bullion bar. Assets are stored in trusted IRS-approved third-party depositories for a monthly storage fee of 0.0417%.
What We Like About MDM
Below, we’ve listed a handful of the things we like most about this crypto investing platform.
The MDM User Experience (UI/UX)
With MDM, you get a simple and refined investing experience. The user experience is streamlined and the interface is easy to navigate and invest in for people of all experience levels.
No matter your age or level of technical expertise, you shouldn’t have any issues with the MDM platform. It’s also easy to keep track of your gains and losses on the main dashboard, under the “Investment options” panel. On the right-hand side of the dashboard you’ll see a panel labelled “Portfolio overview”, which clearly indicates your cash balance, portfolio value, and gains.
Executing trades is also pretty simple with MDM. You don’t need to be a computer expert or programmer or even know how to invest in cryptocurrency in order to use MDM, and, in our opinion, this is a huge advantage for the platform.
Continuing Education
My Digital Money hosts an entire section of their website dedicated in advancing their customers’ knowledge of the cryptocurrency industry, the risks involved, and how to manage these risks. We think this is a great addition to the site, as there’s no doubt that there are risks involved in cryptocurrency investing.
My Digital Money also uses their popular social media accounts to inform customers and investors about the state of the industry and market. For example, the MDM LinkedIn profile is a wealth of valuable information on crypto-related news with new posts being made as recently as December 11, 2023. The company’s informative YouTube channel, which has over 3,000 subscribers, is also active as of 2024.
Privacy and “Military-Grade” Security
One of the best aspects of MDM is that they don’t sell your data to third-party advertisers. Just take a look at their Terms and Conditions and Privacy Policy. While they do collect cookies and allow third parties to access them, no sensitive information is sold to outside parties.
There’s also the benefit of so-called “military-grade” security protocols, which MDM claims they utilize to keep their customers’ data and assets safe from hackers, Although some companies employ this term merely as a marketing buzzword, MyDigitalMoney told us that their “servers are stored in ex-military grade bunkers in a secret location.” To learn more about their security infrastructure, check out MDM’s security policy here.
Partnership with Equity Trust Company
One of the top service providers in the IRA and tax-advantaged investing space is Equity Trust. We think it’s awesome that MDM has partnered with Equity Trust to provide high-security and affordable custodianship services to customers. In fact, Equity Trust oversees in excess of $30 billion in assets and has a flawless security track record.
For beginner investers who might not know the investment environment well, MDM takes the hard work of choosing an IRA custodian out of the picture. Instead, you get easy access to Equity Trust, one of the industry-leading investment providers in the crypto IRA space.
Swing Trade “Trigger Orders”
New investors will love the simple “Trigger order” function that comes right out of the box on the main MDM dashboard. As a swing trader, can easily buy and sell crypto tokens based on pre-set price ranges you can choose. Swing trades such as these let you manage risk in your portfolio by choosing the prices you want to buy or sell at, so you don’t get burned by rapid and unexpected changes in prices.
While some crypto trading platforms make swing trade functions a paid feature, My Digital Money offers this function for free.
Ready to invest in a Bitcoin IRA with My Digital Money now? Use our exclusive sign-up link to get $50 in tradable money after account verification.
What We Don’t Like About My Digital Money
There are a few things we’d like to see improved from MDM. The main downside is their fee structure, especially for day traders and swing traders. This is because MDM charges a per-trade transaction fee (up to 1.9%) that can eat into one’s gains if they trade frequently. That’s why it’s better to buy and hold as an MDM investor rather than actively swing trade every day.
With that said, MDM investors get a strong return on what they pay for to use the platform. A $1,000 trade, for example, generates a biting $190 fee, but the platform does well to ensure they have state-of-the-art security and helps pay for MDM’s 24-hour all-American customer support services. In our opinion, the per-trade fees pay for themselves by offering value that some services don’t.
How to Get Started With My Digital Money
Opening an account with MDM is simple. You can navigate to their sign-up page and fill in the required information, which involve three short sign-up pages that require basic personal data (e.g., home phone, email address) as well as more sensitive pieces of information, such as one’s Social Security Number and date of birth.
As of 2024, all MDM users must meet the following criteria:
- Be a U.S. citizen
- Be over the age of 18
- Have a legal address located in the United States
After creating your account, you can check out the dashboard with “play money”, or fund your account and get started trading or cryptocurrency investing with real money.
Funding Options
You have three main options when it comes to funding your account:
- Transfer from an existing IRA: Move funding from a Traditional IRA, Roth IRA, or SEP can be transferred from another IRA custodian to My Digital Money via in-kind transfer (e.g., no liquidation of assets) or a direct distribution that incurs no taxable events.
- Rollover from employer-sponsored plan: Move funds from a pre-existing employer-sponsored plan such as a 401(k), 403(b), TSP, or 457.
- Contribute new funds: New contributions can be made via a check or bank wire transfer.
Keep in mind that crypto IRA rollovers are subject to IRS rules and regulations. As of 2024, contribution limits per year are held to $7,000 for those aged 50 and below, and $8,000 for those over 50.
Do We Recommend My Digital Money?
Yes, we think My Digital Money is a terrific option for retirement investors looking to enter the Bitcoin and cryptocurrency IRA investment market under a secure and well-reviewed platform.
Nonetheless, we recommend you still do your due diligence. We suggest contacting two or three of the best crypto IRA companies before making a final decision regarding your alternative asset provider.
We think that My Digital Money is best suited for buy-and-hold investors who aren’t planning on using active trading tools very often. This is due to their fairly high trading fees that can eat into your hard-won profits. Privacy-minded investors also benefit greatly from MDM, allowing you to invest with peace of mind knowing that your sensitive data won’t be sold to third parties.
Ultimately, with My Digital Money, you get what you pay for: ease of access, privacy, security, and self-directed investing opportunties. Investors who value these are best-suited for the My Digital Money crypto IRA platform.
Liked this My Digital Money review? Check out our other exclusive reviews of the top Bitcoin IRA investing companies.
- Phone : 1 833-636-2008
- URL :
- Global Rating
User Rating
- 0 No reviews yet!
Based in California, My Digital Money is one of the newest and most trusted companies in the bitcoin IRA investing space. They offer one of the cleanest, simplest platforms for investing and trading cryptocurrencies within an IRA, and offer military-trade security protection. To date, they haven't had a single security breach. While their trading fees can skew a little high, most investors will find incredible value in My Digital Money, especially those who prefer companies who respect their users' privacy and data security.
Mark Turner is an author and editor at Sophisticated Investor. He has over two decades of experience in the financial industry as a broker in both Chicago and New York and has written for several top tier publications. He currently covers the topics of alternative investments, geopolitical events, US economy, portfolio diversification and others.
