BitIRA (formerly FDIRA) announced a new service to help Americans take advantage of digital currencies as part of a long-term retirement strategy. This offering from BitIRA is made possible through a unique partnership with Preferred Trust Company (PTC), the first alternative to what had previously been the market’s only licensed custodian managing cryptocurrency investments like Bitcoin in self-directed IRAs. BitIRA’s revolutionary new service allows direct investment in these exciting digital currencies for retirement, which can yield tremendous benefits like tax-deferred growth, portfolio diversification, growth potential and protection against inflation. Digital IRA owners can roll over existing IRAs and even some old 401(k) accounts as part of the service.
Until now, digital IRA investors have all been limited to the use of a single investment custodian; the only commercially licensed fund management option available. BitIRA finally gives Americans a choice – the first alternative option for a custodian that manages self-directed digital currency IRAs – opening up exciting new opportunities to “shop around” for lower fees, faster transactions and better management. Savvy cryptocurrency investors and those looking to open a digital IRA for the first time will appreciate the ability to compare and consider different options before making choices that will ultimately impact their retirement goals.
“The value of digital currencies has been growing at an incredible rate over the past several years, but their application as a retirement tool is still largely untapped,” said Jay Blaskey, digital currency specialist at BitIRA. “We’re thrilled about this new service and its immense growth potential for long-term investment returns. Tax-deferred growth, heightened profit potential, investment diversification, and better security are just a few of the advantages causing Americans to consider digital currencies as an increasingly compelling asset class for their retirement plans.”
BitIRA offers Americans a retirement savings option beyond basic stocks and mutual funds, enabling IRA owners to diversify their portfolios and access massive growth potential, while shielding themselves against inflation. Additionally, digital currencies are inherently secure, using cryptographic methods to ensure owners and their transactions remain private and protected. And, similar to gold and other precious metals, cryptocurrencies are considered impervious to manipulation by central banks or the frequent and unpredictable changes in the purchasing power of the dollar.
The First Alternative Option for Digital Currency IRAs
To launch its new service, BitIRA has initiated partnerships with multiple organizations that each play a key role in the multi-step process for arranging digital IRAs. BitIRA first works with customers to open a self-directed IRA with PTC as an approved custodian – a secure institution charged with safely managing liquid funds and invested assets, managing income and making distributions on behalf of investors.
“At Preferred Trust Company, our role is to hold alternative assets in a self-directed IRA at the directive of our clients, so they can take advantage of the tax-deferred or tax-free income derived from those investments,” said Carrie Cook, Chief Executive Officer at Preferred Trust Company. “Digital currencies offer exciting new diversification opportunities for our clients and we’re proud to be working with BitIRA on the forefront of this innovative new investment venture.”
Once a self-directed IRA is arranged through PTC, BitIRA works with one of its partner exchanges to purchase digital currency for inclusion in the customer's IRA account. BitIRA completes the process by confirming that the currency deposit is placed in a secure digital wallet managed by one of its select wallet services. Investors then have complete insight and jurisdiction over their wallet, allowing them to direct BitIRA to buy and sell cryptocurrencies as they please.
Original Release link: https://www.prweb.com/releases/2017/12/prweb14980908.htm