Great Updates
Long time user and always had awesome service here. Happy with bitcoin and Choice for the option!
Outrageous fees
Update: customer support reached out to me and resolved the fee issue. As long as they follow their promises..
I started accounts with them when they were still Kingdom Trust. At that time they charged 1% to sell or buy, which is high, but it was in-line with the competition. Now they charge both an exchange fee and a Choice fee, this would be 3.2%. They also do not allow a swap so if you are trying to trade from Solana to Bitcoin you will pay another 3.2%. So let me get this straight. They charge 6.4 %for a swap! I am moving my accounts, request from them instructions on how to do in-kind transfer.
I started accounts with them when they were still Kingdom Trust. At that time they charged 1% to sell or buy, which is high, but it was in-line with the competition. Now they charge both an exchange fee and a Choice fee, this would be 3.2%. They also do not allow a swap so if you are trying to trade from Solana to Bitcoin you will pay another 3.2%. So let me get this straight. They charge 6.4 %for a swap! I am moving my accounts, request from them instructions on how to do in-kind transfer.
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High Fees - Better Options
Had my Account with Choice for 4 years before transferring it out due to the outrageous high fees they charge. Each month I was charged a super high monthly fee for just having my account open and funds invested in BTC. I didn’t trade much but there are also pretty high trading fees if trading large amounts and many other fees that they charge for that other brokerages don’t. Sure you can win a few sats playing blinko but then you’ll get hit with insane fees for your Account.
During my 4 years with them there was no major feature releases or improvements. They had in their road map to allow instant deposits and trading but never implemented it. So any deposit you make takes 3-4 days to clear before you can trade, which makes buying any BTC dips impossible. They also do not provide monthly, quarterly, or any Account Statements available in your account. You have to submit a customer service ticket to get a simple Account statement. What kind of financial site/app doesn’t allow customers easy access to things like Statements?
During my 4 years with them there was no major feature releases or improvements. They had in their road map to allow instant deposits and trading but never implemented it. So any deposit you make takes 3-4 days to clear before you can trade, which makes buying any BTC dips impossible. They also do not provide monthly, quarterly, or any Account Statements available in your account. You have to submit a customer service ticket to get a simple Account statement. What kind of financial site/app doesn’t allow customers easy access to things like Statements?
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Hidden btc fees nowhere on app
Don’t store your btc with them. Huge monthly fees that cant be seen in transaction history. Your btc will not grow with them. Would easily give negative rating if I could. Transfer out process is also very slow and not as efficient as other platforms. Do not recommend.
High Fees
Ridiculously high fees. They will make you HURT to leave them. Disappointed…
High fees
Do not use this app or service
I’ve been scammed.
I invested a small amount of money to experiment with this app. The Blinko game was a lot of fun and figured if I can just win some sats a couple times a week maybe it can see how this grows. All of a sudden as the price of bitcoin went up I was losing money. I never got notified for fees and there was no record of them. That would’ve been fine but there also no way to pullout. I’ve request several times to end my service and get back what I had even at a loss. I eventually got an email saying they closed my account because I haven’t put more money in and my balance wont cover the fees. So I just wasted hundreds of games of blinko and they took all my initial investment and its earnings.
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Usability Has Regressed
I’ll gladly update this review to 5-stars upon improvements because that is how I felt about the product in the early days, but the usability has somehow gotten worse since opening the account a few years ago. The main issue being that market buys don’t work, and haven’t for some time. I’ve inquired several times and the response is always that the IT team is working on it. It’s been well over 6-months at this point.
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Fees are outrageous
After the promotional period ends you end up paying insane fees that should not exist for online only options like this. They earn every dollar you might “win” back in fees in a short time.
Choice is a scam - reporting to BBb
I put $100 into choice two years ago when BTC was at $40k. Now that BTC is at $105k my account value is $16 because their fees are so high. I also have a new invoice from them for fees related to a self directed retirement account. The fees for having a $16 account balance with them amount to $62.50 for last year.
They are charging 4x your account value in fees.
Stay far away!!
They are charging 4x your account value in fees.
Stay far away!!
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Fraudulent company
They have hidden fees everywhere. Your money randomly disappears. Had to repost since they deleted my original review. That should tell you all you need to know.
Exorbitant fees for everything regardless of account size
My account is small like $300. I thought for sure it’s going up in value since I’ve never touched the account and it’s on Bitcoin. With Bitcoin skyrocketing I decided to see how my account is doing. Instead I’m shocked to see my account decreased by half. Upon inquiring that’s when I found out they charge $20 a month maintenance fee regardless of account size. I know this has to be illegal. Will spreads it across all social platform to make sure everyone is aware of their predatory practices and report them to all the regulatory agencies. Hopefully apple sees this and removes this app from the App Store. If I can give it a negative star rating I would. Everyone stay away!!!!
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Charge $20 a month
Just terrible when I signed up everything was fine but now they charge $20 a month and all the money in my account is basically gone
Stay Away
This company is attracting new crypto investors and is failing them hard. The app and service is not helpful and honest to customers. With hidden fees and a horrible app experience. Funds will be withdrawn without explanation if you’re not paying attention to your money. This is unacceptable. Stay far far away from this app.
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Scam Account Now BEWARE
Dishonest broker and custodian of an IRA. YOU GOT PEOPLE TO JOIN JUST TO STEAL THEIR MONEY THROUGH FEES. I'm glad I didn't put more money into this scam company's account. I closed my account and recommend no one open an account with them!
More Options with ITrustCapital
$125 fee if you try to leave them. Stay Away. More crypto options with ITrustCapital
Monthly fees are ridiculous, not worth the hassle
Monthly fees are ridiculous, not worth the hassle
USED to be good for those without a 401K… now it’s a SCAM
So about 3 years ago, I thought this app was great! It gave me the ability to actually have a 401K, and it would help me add funds into it! Everyday you are allowed to play the blinko game in which u have the opportunity to win some sats. On their double days, I would easily get a $4-$6 win, and overtime every single day it adds up. I think I had over $60 at one time just after a year or so, and my fiancé had over $100. Now mind you, this was back when it was FREE to have the type of account that we had. We did not have a regular 401K at the time, so we weren’t charged the other fees that they have if you want to move your other 401K Into this one. The type of account we had was a FREE OPTION…! Then after the pandemic, they sent me an email listing all their changes, and then they did this AGAIN 2 months later. They first told me I would be charged a .08% fee or something every month…. Okay not too bad, at the time this would’ve been like a .40 cent fee every month, which I was fine with. THEN, 2 months later they decided to change this fee structure, and then they wanted to deduct an entire $20 EVERY SINGLE MONTH!!! For the same free account they were just offering 2 months before!! I don’t know of a single app or business who went from offering a FREE service, to then turn around and begin demanding $20 EVERY SINGLE MONTH!!! If it was once a year fee, that’s more doable and reasonable. But I have never heard of such an increase in fees to go from completely free to suddenly wanting $240 a year! Especially after I had played their little game everyday for the last 2 years and had accumulated a good little amount of money for my 401K that could’ve helped at least a little bit later in my life. Soon after just 2 months, that $50 went down to $7, and now I am completely against this app. For them to state how they wanted to be a different type of app/financial service and to get the newer generations to save and invest, they sure showed me that they were just like the other money hungry businesses that claim they want to “be the change” for those who may not have a lot of savings. Will be cancelling mine and my husbands account, as well as all the family members I told to switch to this app. Screw that. You can’t offer a completely free service and begin with this “we want to be different” mentality, to all of a sudden demand a 400% fee markup. 👎🏼
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Data breach
Choice had a data breach that leaked customer information including name, bank account routing and account numbers. They alerted customers in July, but the breach was in March 2024.
This is unacceptable. It was good while it lasted to have a Bitcoin Ira, but now you can just buy the etf.
Plus, their fees for holding Bitcoin are way more expensive than the etfs.
You can transfer the funds (cash only) to a different broker that offers IRAs.
With the data breach and high fees, I can’t recommend choice anymore.
This is unacceptable. It was good while it lasted to have a Bitcoin Ira, but now you can just buy the etf.
Plus, their fees for holding Bitcoin are way more expensive than the etfs.
You can transfer the funds (cash only) to a different broker that offers IRAs.
With the data breach and high fees, I can’t recommend choice anymore.
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Wow
They just changed everything. You can’t even get into your account without choosing the min of $20 a month. Stupid.
High fees!!
At $20 a month for a small Roth IRA, I’m in the process of closing my account!!
