Your favorite crypto news blog

Coinbase Announces its Upcoming Cryptocurrency IRA

Crypto 2019/11/15 21:03 by JP Buntinx
TheMerkle_Dutch Pirate Party Bitcoin

There is no time like the present, even in the cryptocurrency industry. Coinbase, a provider of exchange and wallet services, is now entering the IRA game.

This is made possible following a strategic partnership with Kingdom Trust and Regal Assets. 

Coinbase Keeps Adding new Services

A cryptocurrency-based investor retirement account has been of great interest to many, yet few companies provide such a service. 

The main purpose of these IRAs is how the cryptocurrency balances are safe from external factors. 

Hackers or criminals looking to steal user funds will have a very tough day and ultimately be unsuccessful. 

Furthermore, every account created through Coinbase’s IRA will be insured for up to $200m, courtesy of Lloyd’s of London. 

For those who are on the fence about investing in cryptocurrencies, this might be the solution they have been waiting for.

Plenty of cryptocurrencies will be supported for these IRAs. The list includes Bitcoin, Stellar, Tezos, DAI, Augur, and several dozen other currencies. 

Some notably absent projects include Binance Coin,  Monero, and so forth. It is possible more currencies will be added once the service goes live.

Cryptocurrency investing is usually something one should engage in for the long term. An IRA seems to be the perfect vehicle to accommodate those needs.

On the other hand, putting one’s retirement savings into cryptocurrency will always be a risky venture.

These markets are extremely volatile, and there is no guarantee all of the supported tokens will still be around decades from today. 

Image(s): Shutterstock.com

The post Coinbase Announces its Upcoming Cryptocurrency IRA appeared first on The Merkle Hash.

0 Like(s)

You should also read...

Bitcoin 26/11/19 19:00 by Julio Gil-Pulgar
Bitcoin-Based IRA Investments to Break $1 Billion Soon
The pension crisis is deepening across the world. As a result, Bitcoin-based retirement products are now taking center stage. Most notably, the Bitcoin IRA, which is already processing over $350 milli...
Read More
Altcoins 11/07/20 02:00 by Nick Chong
Crypto Tidbits: TikTok’s Dogecoin Craze, Coinbase on Stock Markets, Bitcoin Holds $9k
Another week, another round of Crypto Tidbits. After over a week of ranging, Bitcoin attempted to break higher this week. The flagship cryptocurrency moved from the weekend lows of $8,900 to a weekly...
Read More
Altcoins 07/08/20 01:59 by Nick Chong
Ethereum DeFi’s Balancer (BAL) Surges 25%: Why the Altcoin Is Up So Much
While Bitcoin and Ethereum have stagnated over recent days, multiple altcoins are pressing higher and higher. Zcash, for instance, has gained dozens of percent in the past week alone as its technical ...
Read More
Crypto 12/08/20 11:49 by Erie Maxwell
Is Coinbase close to becoming the first public US crypto exchange?
Rumors have been floating around that Coinbase will soon go public. It has been reported that Coinbase has been in talks with investors and lawyers in prep to become a publicly-traded company. Acc...
Read More
Crypto 12/09/20 21:26 by Bernice Nyambura
Coinbase CEO Calls Out Apple For Biased Apple Store Cryptocurrency Restrictions
Coinbase CEO Brian Armstrong has spoken out about Apple’s strict policy against cryptocurrency and DeFi applications on its App Store. Apple is currently under hot criticism from the gaming industr...
Read More