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The Bitcoin IRA, an IRS-sanctioned retirement account, has added bitcoin cash, ethereum, and litecoin to its list of tokens for investments. The company is based out of Los Angeles, and focuses on helping people open cryptocurrency-focused retirement funds.
Also read: Markets Tumble Again – How Many Times can China Cry Wolf?
New Money to Retire With
The Chief Operations Officer of the company, Chris Kline, commented on the power of this technology to push society into the future. He mentioned that bitcoin is what provides all these other altcoins with value. In this sense, they are starting to see widespread appeal. It makes the value proposition for altcoins and bitcoin cash higher for investment opportunities.
Kline said, “The value of cryptocurrencies goes beyond the price of each coin, it’s really the underlying technology that’s going to revolutionize our financial system. We’re excited to offer our customers the chance to capitalize on this technology and build a retirement portfolio with Bitcoin and altcoins.”
Total Coins Offered By Bitcoin IRA
In all, Bitcoin IRA provides 6 digital assets for their retirement accounts. A Finance
Magnates article provided further information. “Bitcoin IRA now offers six coins for investment: Bitcoin, Ethereum, Ethereum Classic, XRP, Litecoin and Bitcoin Cash – and individuals can rollover retirement funds into whole coins or into a percentage of each.”
Each of the coins will also be held in multi-signature Bitgo wallets while they are associated with customers names and accounts. The company will keep the keys in cold storage. This news comes as all digital tokens continue to grow despite market shakedowns and scares initiated by Chinese regulators.
Previous Coin Launch: XRP
Bitcoin IRA also previously launched ripple token as part of growing their retirement fund options for their clients. Kline heaped praise over XRP when they announced it at the end of august.
We’re the only company in the world to offer an XRP feature in this way. Demand from our customers has been immense. XRP is an unique innovation in modernizing cross-border payments using superior blockchain technology. We’re excited to feature XRP and work with BitGo to bring this extraordinary asset opportunity to market.
Do you think an investment company for cryptocurrencies is a good idea? What do you think about Bitcoin IRA? Let us know in the comments section below.
Images courtesy of Shutterstock, Bitcoinira, and Bitcoin.com
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The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.