It is not a self-directed IRA. With the Unchained Capital IRA product, the tax documentation is prepared and provided to you each year. For the purposes of your question, it might be considered a "custodial IRA." However, it is important to note that clients control the keys to their bitcoin vault, so the power to move the bitcoin is entirely in the hands of the client. From this perspective, it can accurately be described as "self custody." It is a new frontier!
If something happens to Unchained Capital, you can always use your own two keys to withdraw bitcoin out of the vault, ignoring the key that Unchained Capital holds.
Great to see you can use the same keys with your existing vaults.
Have you added other hardware devices since this video was recorded?
Can the assets be distributed in kind?
Yes, your bitcoin can be distributed in kind.
Is this still a self-directed IRA (like the old Unchained product) or is it a custodial IRA?
It is not a self-directed IRA. With the Unchained Capital IRA product, the tax documentation is prepared and provided to you each year. For the purposes of your question, it might be considered a "custodial IRA." However, it is important to note that clients control the keys to their bitcoin vault, so the power to move the bitcoin is entirely in the hands of the client. From this perspective, it can accurately be described as "self custody." It is a new frontier!
what happens if unchained goes insolvent and they are required to cosign on a vault withdrawal?
If something happens to Unchained Capital, you can always use your own two keys to withdraw bitcoin out of the vault, ignoring the key that Unchained Capital holds.
I loved everything right up until you got the the outrageous fees. $995 "set up
fee?" 'Coiner please.