BitIRA, a pioneer of cold storage and end-to-end insurance for bitcoin IRA accounts, announced it has doubled its lineup of cryptocurrencies for its digital IRA customers. The following digital currencies are now available:
- BAT: Basic Attention Token, powering a blockchain-based digital advertising program
- GRT: The Graph, an indexing protocol for querying network data
- LPT: Livepeer, the decentralized video streaming network protocol
- MKR: Maker, the governance token of the MakerDAO and Maker Protocol that manages the DAI stablecoin
- YFI: yearn.finance, the native cryptocurrency of the titular DeFi aggregator service.
- MANA: Decentraland, the currency of the Decentraland virtual world
- COMP: Compound, a DeFi lending protocol
- DAI: Dai, an Ethereum-based stablecoin
- UNI: Uniswap, a popular decentralized trading protocol and automated market maker (AMM)
These days, investors are looking for new ways to diversify. These 9 additional cryptocurrencies offer exposure and countless opportunities to diversify your savings among some of the fastest-growing, most popular investments available.
Innovating services, expanding offerings
Wasn’t BitIRA’s original cryptocurrency options sufficient for their customers?
“We’re always looking to innovate both our services and our offerings for our customers,” said Jeremy Warner, Head of Sales at BitIRA. “We’re thrilled to double the total number of digital currencies in our crypto IRA line-up, just a few months after we waived ongoing fees and rolled out our self-service My BitIRA platform.”
But why these particular digital coins? At the time of this announcement, the cryptocurrency price tracking website CoinMarketCap lists over 19,000 different digital currencies, stablecoins and defi tokens. Why does BitIRA only add only nine out of this myriad?
“That’s a fantastic question,” Warner said, “and it’s one we answer a lot. It boils down to two factors: regulation and rigor.”
Regulation, in this case, refers to both U.S.-based exchanges and governmental policies. Warner explained that BitIRA’s partner exchange operates within the oversight of the Security and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). “We only work with exchanges, and with cryptocurrencies, that meet the rigorous standards laid out by the SEC and FINRA.”
Rigor refers to the requirements of the insurers who underwrite BitIRA’s end-to-end insurance. “We work with a panel of London insurance companies all rated S&P A or better, all who’ve had experience underwriting digital assets,” Warner said. “In many ways, they’re even more particular than the SEC and FINRA when assessing cryptocurrencies.”
Ultimately, BitIRA strives to offer retirement savers the growth potential of cryptocurrencies in a manner that allows diversification among cryptocurrencies, as well as across traditional retirement asset classes. “After all, this is people’s retirement savings we’re talking about,” Warner said. “That’s not where you want to be speculating. Let me put it another way: sure, there are thousands of cryptocurrencies. The selection BitIRA offers? That’s what I personally would want in my retirement plan.”