What the Partnership Means for Investors
In a thrilling turn of events, Bitcoin IRA has teamed up with Genesis Capital to help you earn interest on your crypto and cash holdings. Since 2016, Bitcoin IRA has led the charge in digital asset individual retirement accounts (IRAs), processing a jaw-dropping $350 million in investments. They’ve onboarded roughly 4,000 clients, which is impressive, no doubt! But what’s even more exciting? This new partnership could make your retirement a tad more lucrative.
The Genesis of Genesis
Genesis Capital is not just another player in the crypto lending game; it’s a spinoff from the cryptocurrency broker Genesis Global Trading. With a whopping $2.3 billion lent out in cumulative originations, they have reported a 75% increase in loans just in Q2 of 2019. So, it’s safe to say they know what they’re doing when it comes to lending.
How Interest Can Make Your Retirement Account Free
Chris Kline, COO of Bitcoin IRA, has laid it down: integrating interest-earning accounts could transform how we think about decentralized finance. According to him, “Interest earned by a client can offset trading fees or custodial holding fees, essentially creating a free account.” Imagine your investment growing while you’re sipping piña coladas on the beach—because your crypto’s hard work has paid off big time!
What You Need to Know About the Rollout
Excited? You should be! The first interest-earning accounts are set to launch in November—some lucky investors will get in on a first-come, first-served basis. The annual interest rates will vary, but specifics are still under wraps. Don’t worry; you’ll have more details soon. Keep your eyes peeled!
The Regulatory Edge
Bitcoin IRA is playing it safe under the watchful eye of U.S. regulator FinCEN, so you know your money is in trustworthy hands. The technology used supports self-directed retirement accounts allowing seamless trading of crypto. And with BitGo on their side, clients can rest easy knowing their assets are protected with multi-signature digital wallets.
A Growing Trend
It’s no secret that the popularity of digital asset IRAs skyrocketed in 2017. Despite the rollercoaster of asset volatility, experienced traders are reaping the tax advantages that IRAs offer. Following impressive milestones, Genesis processed $425 million in loans in Q1 2019, proving that the crypto lending scene is on the up and up.
