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My Digital Money

4.6 Stars (1 Review)
Updated: January 27, 2023
By: Jeff Smith
Jeff Smith
Sr. Content Manager
As Retirement Living’s senior content manager, Jeff oversees the product and publishing of all retirement, investing, and consumer wellness content on the site. His extensive expertise in brand messaging and creating data-driven stories helps position Retirement Living as a top authority for senior content and community resources.
Sr. Content Manager
Edited By: Lauren Hamer
Lauren Hamer
Sr. Editor
Bringing more than a decade of editorial experience to Retirement Living, Lauren focuses on reporting senior-related issues, including retirement planning, finance, consumer protection, and health and wellness. Lauren has edited consumer content for Credible, Angi, Slickdeals, Jobs for the Future, and more.
Sr. Editor

My Digital Money is a convenient, cost-effective cryptocurrency trading platform. The company offers cash trading and crypto IRAs. Customer service is readily available, whether you need help setting up an account or understanding bitcoin and other cryptocurrencies. My Digital Money protects assets with military-grade security.

My Digital Money Logo

Editorial Breakdown

Investment Options 4.7 Stars
Ease of Application 4.5 Stars
Investment Fees 4.4 Stars
Customer Service 4.7 Stars

Overall Rating 4.5 Stars

Bottom Line

My Digital Money is a cryptocurrency trading platform with a focus on customer service.

My Digital Money Review

Trading cryptocurrency or investing in a crypto IRA on your own can be a hassle, especially if you’re new to the digital market. If you set up an IRA, you need to choose a wallet, custodian and possibly an exchange. My Digital Money removes the friction from trading crypto-assets by providing everything you need in one place.

My Digital Money, also called MDM, protects each account with the highest level of security. The company offers concierge-style customer service out of California, and help is always a phone call away. My Digital Money runs on top of services from one of the industry’s leading custodians and most secure exchanges.


  • Combined cash and bitcoin trading and cryptocurrency IRA account
  • U.S.-based customer support by phone or email weekdays from 6 a.m. to 5 p.m. PST
  • Military-grade security
  • Make practice trades to get comfortable with the market
  • No monthly fees


  • Account termination fees
  • No mobile app, but accessible via mobile browser

My Digital Money Cryptocurrency Trading Tools

My Digital Money’s stop-loss order, trigger order and play money features are helpful if you’re new to cryptocurrency investments or want to automate trading.

  • Play money lets you place trades using actual market movement without using your funds. The feature helps you get comfortable with the market and trading platform without risking a single dollar. You also get news and tips to see what causes cryptocurrency values to fluctuate. Once you start trading for real, you can always switch back to play money to test a strategy.
  • Stop-loss orders limit your losses if the value of a specific cryptocurrency goes down. You can set sell orders as a percentage (sell litecoin if it drops 10%) or dollar amount (sell litecoin if it drops $1.50 per share). If your limit activates, the cryptocurrency sells at the current market price.
  • Trigger orders are automatic orders you set up to take a profit. Use this type of order to automatically sell when the value of a cryptocurrency reaches a price you set.

My Digital Money Security

You’ve probably heard about crypto exchanges being hacked, wiping out traders’ accounts. My Digital Money works with Genesis Custody, a global leader in digital asset markets, to lock down accounts with military-grade security. Customers receive combined hot and cold storage and multiple cryptographic security levels to help prevent malicious access to funds.

Chances are very slim My Digital Money could be hacked, but the company provides $600 million in Genesis Custody’s vault risk insurance. Customers are protected against physical loss, damage, destruction or theft of digital assets.

My Digital Money Costs

My Digital Money no longer charges a monthly fee, so you only pay when you make a trade. Costs are divided into platform transaction fees, setup fees and custodian fees. The platform fee pays for maintaining a secure high-tech trading platform, attentive customer service and other costs. My Digital Money’s custodian fee includes buying or selling services.

My Digital Money Fees
Cash Account Fees Crypto IRA Fees
– Platform transaction fee: 2.15%
– Custodian transaction fee: 0.75%
– Setup fee: Free
– Wire or funds transfer: $30
– Termination fee: $75
– Platform transaction fee: 2.15%
– Custodian transaction fee: 0.75%
– Setup fee: $50
– Wire or funds transfer: $30
– Late fee penalty: $50
– Termination fee: $250

How to Set Up a My Digital Money Account

Setting up an account takes about five minutes. Click on “Open An Account” at the top of any page on, then provide the details required to establish a financial account.

You can open a play money practice account, nonretirement account or IRA. You can even access all three account types in your My Digital Money account.

If you’re transferring funds from an existing retirement account, you will need to contact that account’s administrator. You can roll over a 401(k), IRA, 403(b), TSP, 457 or other qualified retirement savings account.

My Digital Money Complaints

We found no complaints about My Digital Money, and online reviews provided little information about consumer satisfaction. My Digital Money’s partner, Equity Trust, gets an A+ rating from the Better Business Bureau. Customer reviews on the BBB site yield 4.19 out of 5 stars.

Equity Trust has been a respected alternative asset IRA custodian since 1983. The company is a leading gold IRA custodian.

Retirement Investments gives My Digital Money 4.5 out of 5 stars, with a nod to its concierge-style customer service. rates the company with 4 out of 5 stars, saying the platform can be difficult to learn. We do not agree because My Digital Money’s free play money account and stellar customer service will help you get comfortable with trading quickly.

My Digital Money FAQ

  • Does My Digital Money offer cryptocurrency investment advice?
    My Digital Money representatives can answer questions about cryptocurrency but do not offer investment advice. You are responsible for your investing decisions. Consult with a financial advisor if you need help creating a digital currency investment plan.

  • Will I get marketing messages if I sign up for the free crypto guide on My Digital Money’s website?
    You’ll have to provide a phone number and email address to receive the free crypto guide. My Digital Money may contact you using that information, but you have the opportunity to opt out of future communications.

  • Do I have to pay My Digital Money fees out of my IRA?
    No. If you don’t want to pay fees directly from your IRA account, you can pay the fees via credit card or a transfer from a bank account.

  • Do I have to have an IRA to trade using My Digital Money?
    You can avoid paying fees from your IRA by using a credit card or bank transfer.

  • Is My Digital Money a cryptocurrency exchange?
    Yes, My Digital Money is a cryptocurrency exchange with simple design and friendly, knowledgeable customer service.


My Digital Money makes it easier to start trading or investing in cryptocurrency assets. You buy and sell with decisions supported by U.S. customer support services. You’ll also find free market reports and resources on the site.

My Digital Money offers a great combination of the highest security and tools to automate trading. The company emphasizes capital preservation, providing concierge-level customer service and reasonable fees.

1 My Digital Money Reviews

Write Review
2 Stars

February 15 2024 1:59AM

I purchased 2.5 bitcoin from these guys a year or so ago. I wanted to move my crypto to my own wallet and advised that I would pay all fees a charges. I was told that they cannot transfer crypto. You must sell and take the money. This has caused me to lose about $13,000 of earnings. Additionally, don’t think about trading the ups and downs of crypto. My Equity is so unresponsive, that when you sell you are not able to turn around and buy for several days. I am so sorry I moved my money here. It was a huge mistake.

Barry A.
Ranson, WV