Bitcoin Retirement Fund Provider Adds Ripple in IRA Product Update

BitcoinIRA, a company that allows users to create retirement funds based on cryptocurrencies, is adding new options to its portfolio.

AccessTimeIconAug 31, 2017 at 12:30 p.m. UTC
Updated Sep 13, 2021 at 6:52 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

BitcoinIRA, a company that allows users to create retirement funds based on cryptocurrencies, is adding new options to its portfolio.

Starting with Ripple's XRP token from today, the firm also plans to add further cryptocurrencies in coming weeks, including litecoin, ethereum classic and bitcoin cash.

BitcoinIRA already supports retirement accounts in both bitcoin and ethereum.

The company, which is fully Internal Revenue Service (IRS) compliant, supervises the transfer of fiat retirements funds into cryptocurrency and provides "cold" offline storage for the investments.

In a statement, BitcoinIRA spoke positively about XRP, calling it "the best digital asset for payments" and stating that it is "one of the largest digital assets by market capitalization."

Chris Kline, COO of BitcoinIRA said that customer demand for the currency has been "immense."

Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Piggy bank image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.