Cryptocurrency Retirement Account Manager Bitcoin IRA, Crosses $400M In Transactions
On Tuesday, Bitcoin IRA, which is based in the United States has managed to surpass the $400 million mark in terms of cryptocurrency transactions since their inception in 2016. The company provides individual retirement accounts that are harmonious with digital assets.
Introduction of Cryptocurrency IRA
Late last year, Bitcoin IRA released a statement indicating their customers can now use the new 24/7 self-trading crypto IRA, the platform was recently introduced as new service they are offering. Customer's new IRA accounts can now be registered and, in some cases, even use to convert retirement accounts already in existence.
Since its release last year, this product has managed to gain a lot of traction in the United States, with clients moving hundreds of millions of dollars in transactions related to crypto-assets. The cryptocurrency IRA provider has also since its official launch managed to process over four hundred million dollars in investments. Chris Kline, the Bitcoin IRA COO commented on this development and noted that:
“Reaching this new high is a testament to our top-notch security features, superior customer experience, competitive pricing, innovative product offering, seamless online IRA transfer process, and proprietary real-time 24/7 self-trading platform.”
The Chief Operating Officer also went ahead to point out that the crypto company had plans to introduce a variety of new products later in the year. These products will assist in accelerating its expansion as well as enhance the customer’s capacity to grow and self-manage their investment portfolios.
Bitcoin IRA had a successful 2019 as it was able to achieve several accomplishments which include:
- Introduced cryptocurrency swaps
- Launched Digital Gold which is an alternative to the self-trading retirement program
- Conducted a private fundraising round
- Introduced a beta-program that will enable its clients to earn interest on current cash and crypto holdings.
- It managed to integrate Advanced Biometric Security that would help in enhancing AML/BSA compliance
Continuing Issues with Kingdom Trust
A decision made by Bitcoin IRA to enter into a collaboration agreement with BitGo Trust two years ago caused Kingdom Trust, its former custodian to file a lawsuit against it. It’s a battle that is still ongoing to-date, when Kingdom Trust requested the federal court to sanction Bitcoin IRA.