The third secret is checkbook control, which is another aspect of a “flat rate” plan is. (Sometimes it’s called a checkbook IRA or an IRA LLC.) The main attraction of such a plan is that you are in control. Your money ends up in a bank of your choice, not in the hands of a custodian. You – and you only — choose where to invest your money. When it comes to cryptos, not only does a checkbook plan mean your retirement is invested in a coin of your choice, but you hold the wallet. In a custodial self-directed IRA, you do not hold the wallet. The custodian chooses the exchange, and the exchange holds the wallet. In a checkbook plan you hold the wallet — any type of wallet, hot or cold. You are not restricted to or dependent upon the storage of an exchange. You can move your cryptos into any wallet, or several different ones, if you wish. In addition to holding the wallet, a checkbook plan allows you to invest in potentially lucrative ICOs. In a custodial plan, ICOs are not an option.