COTI network: Why Aren’t Cryptocurrencies Truly Used as Currencies?
CryptoNinjas
COTI network: Why Aren’t Cryptocurrencies Truly Used as Currencies?
Despite increasing regulatory pressures, cryptocurrencies and ICOs are still in relatively good shape. Cryptocurrencies, though in negative territory overall year to date, are still well above their initial 2017 levels.
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Cryptocurrency based retirement fund, has announced the launch of Ethereum IRA. The new investment product offering allows people to invest in an Ether-based, Individual Retirement Account (IRA).
Demand for Ether Prompts Ethereum IRA
Ethereum has recently fortified its position as the second largest cryptocurrency in the market, right below bitcoin. The demand for Ether is following significant developments and implementations of Ethereum platform for a range of applications. The creation of involving major tech and industry players has further strengthened the confidence of investors in Ethereum.
This recent success and increasing stability have added to the cryptocurrency’s appeal, as a form of retirement investment. The new fund will be self-directed, following the highly successful bitcoin IRA which has so far created accounts worth over $10 million since June 2016.
Just like IRA’s flagship product, investors can hold real Ethereum in retirement accounts as traditional IRAs, Roth IRAs, 401K’s or SEP IRA. bitcoin IRA’s exclusive partnership with BitGo will ensure users the access to its multi-sig wallet, which will guarantee security, privacy and full compliance with the requisite IRA regulations for retirement accounts of this nature. In the interest of liquidity, the company implements Genesis Global Trading, Inc. and uses TradeBlock’s ECX Index as a reference rate.
Crypto Savings for Retirement
bitcoin IRA is known to be the first company to offer investors the chance to put cryptocurrencies into their retirement accounts. In contrast to traditional IRA retirement plans, investors inbitcoin IRA and Ethereum IRA will keep control of their cryptocurrencies permanently, allowing them the freedom to disperse the funds as they see fit once the investment’s term is over.
The deflationary attributes of cryptocurrencies make them ideal for long-term investment opportunities. In 2017, Ethereum has witnessed an incredible 500%+ growth from less than $10 per unit to over $64.
bitcoin IRA offers both traditional and Roth IRA (bitcoin/Ethereum) options, which offer the same tax incentives as regular IRAs and 401ks.
bitcoin IRA is positioning itself as a unique investment company, which includes little processing and handling fees, which perhaps makes it even more attractive than bitcoin ETF and other investment funds.
Would you consider investing in an Ethereum IRA? Let us know below!
