Cryptocurrency-related IRAs have exploded in popularity in the US lately Especially the Bitcoin IRA is immensely popular thanks to its rather unusual approach. This IRS-sanctioned retirement solution usually focuses on the Bitcoin market value. However, the company recently unveiled some big plans to expand the list of support currencies. As of this week, Bitcoin Cash, Ethereum, and Litecoin are all supported as well. This is great news for people looking into cryptocurrency-oriented retirement fund solutions.
It is good to see Bitcoin IRA focus on different cryptocurrencies these days. While Bitcoin continues to dominate markets, other currencies have shown major potential as well. Ethereum has had a stellar year so far and Litecoin is going through a bullish phase as well. Bitcoin Cash is still relatively new but it has a lot of promise, according to the company. For people looking into retirement funds related to cryptocurrency, Bitcoin IRA has become even more attractive than ever before.
Major Changes for Bitcoin IRA Customers
Bitcoin provides other altcoins with value, according to company COO Chris Kline. There is a lot of truth to that statement, as no altcoin can decouple itself from Bitcoin entirely. However, the widespread appeal o non-Bitcoin currencies can no longer be ignored. Especially Ethereum and Litecoin has made a great impact so far. It only makes sense to add them to the Bitcoin IRA portfolio. It is about seeing the bigger picture for the company. Every coin has its own price, but the underlying technology will revolutionize the financial sector.
This change brings the number of supported assets to 6 for Bitcoin IRA. Bitcoin was already part of the project, as are XRP and Ethereum Classic. Adding Ethereum, Litecoin, and Bitcoin Cash makes for a compelling package. It is possible for users to rollover retirement funds into whole coins or distribute it among supported currencies as they see fit. All funds are held in a multisig BitGo wallet for optimal security.
It is evident Bitcoin IRA keeps tabs on all cryptocurrencies. They may even add additional assets in the future. That has not been officially confirmed at this time, though. Their previous addition of XRP has received a lot of positive feedback so far. If new currencies are to be added, it will be interesting to see which ones are on the short list. Monero and Dash can make a lot of sense in this regard, as those seem to be the most logical candidates. No other currency is even close to being “mature” enough in this regard, other than perhaps Dogecoin.
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