Bitcoin IRA Opens Retirement Accounts In Crypto As Retirement Portfolios Reach Record Highs
- Bitcoin IRA works with BitGo to offer new services to cryptocurrency investors
- BitGo is expected to offer $100 million in insurance protection
Bitcoin IRA, the largest Bitcoin retirement platform in the world, informed that investors are currently adding virtual currencies to their retirement portfolios as Bitcoin moves above $11,300. AT the same time, the company mentioned that they have seen more interest in the activity in the last six weeks than in over a year.
Bitcoin IRA Registers Record Volumes
Trading volumes on Bitcoin IRA are reaching all-time highs according to Chris Kline, the CEO of the company. Mr. Kline said that during an interview with CCN a short time ago. The firm has also upgraded its retirement platform and partnered with BitGo Trust so as to offer secure custody and a $100 million insurance coverage.
This new partnership would allow the company to improve its security and reduce fees. About it, Kline commented:
“Our partnership with BitGo Trust provides our clients with faster account funding, lower fees, as well as significantly increased insurance protections.”
Investors around the world have been investing in Bitcoin because it could provide high returns in the future if it becomes a mainstream asset class. However, this is something that could take several years to happen. However, Grayscale informed that a portfolio with just 1% allocation to virtual currencies would have outperformed a traditional 60/40 portfolio by 20% since 2013.
In addition to it, Kline said that the growth potential that cryptocurrencies have make it a great long-term investment for retirement accounts.
Bitcoin IRA would now be able to reduce wallet holding fees by 30% to 0.0005 points per month and reduce client transaction fees as well. With these improvements, the firm is expected to offer an all-round enhanced service and overall experience for users.
BitGo is expected to protect the securities by using a cold storage solution that is maintained in a secure, bank-quality vault offline in South Dakota. This is according to Dick Corcoran, the CEO of BitGo, that left retirement to work on the new partnership and product.