Bitcoin IRA, a cryptocurrency based investment provider, has added Litecoin, Ethereum, Ethereum Classic, BCash & Ripple to its offerings. The company has made this move to enable customers to take advantage of the rising value of altcoins and greater diversity in the crypto space. Bitcoin IRA launched in 2016, and has seen significant growth as cryptocurrencies gain popularity among the investing public.
Crypto investment firms are rapidly emerging as the general public begins to take greater interest in the wealth potential of digital assets. The services these firms provide give investors the ability to purchase and hold crypto without the technical skills needed to use an exchange or maintain a wallet themselves. They have seen a surge in popularity, and many traditional fiat investment companies are also considering adding cryptocurrencies to their offerings.
Bitcoin IRA is unique in that it is fully IRS compliant. As such, customers receive tax benefits from investing. Bitcoin IRA does not offer fiat investment options, nor does it reinvest crypto on behalf of clients. Rather, it securely stores cryptocurrencies for clients, which they can withdraw at the age of 59.
Some crypto advocates have expressed concern over professional investment services, as they encourage the public to view cryptocurrencies as a store of wealth rather than money to be spent. They argue that in order to go mainstream, crypto must be actively used as currency, not just as investment. Nevertheless, as crypto values continue to increase, pressure to invest and hold will be strong. More importantly, however, is the fact that the strongest, most stable fiat currencies are also those held as reserves. These include the US Dollar, Euro, British Pound & Japanese Yen. It is thus reasonable to assume that in the long run the most valuable cryptocurrencies will be those that investors have deemed important enough to preserve in long-term storage.
Over the next few years it is likely that cryptos will become a standard element of common investment portfolios. With a combined, total fiat market value of well over one hundred billion dollars, it is too big to ignore. Bitcoin IRA is thus part of a growing trend that promises to establish crypto in the common financial landscape.