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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.

Aug 31, 2017 at 12:30 p.m. UTC
Updated Sep 13, 2021 at 6:52 a.m. UTC

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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