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.