The Bitcoin IRA company serving individual cryptocurrency retirement accounts, in collaboration with Genesis Capital, will launch a program to pay customers interest on their savings.
Bitcoin IRA users will have the opportunity to provide their assets on credit to the cryptocurrency firm Genesis Capital and receive interest. According to the statement, interest received from loans will be paid monthly and credited directly to users’ retirement accounts.
The launch of the program is scheduled for November this year. Chris Kline, Executive Director and Co-Founder of Bitcoin IRA, noted that “the interest earned by the client can compensate for the commission for trading or custodial storage, allowing them, in fact, to service the account for free.”
Founded in 2015, the Bitcoin IRA has already registered over 4,000 customers and completed over 350 million transactions. Back in 2017, Kline stated that Americans invest in cryptocurrencies as individual retirement savings as savings for retirement.
According to a spring study, the cryptocurrency lending market continues to develop. In 2018, only Genesis Capital issued loans secured by cryptocurrencies worth more than $ 1.1 billion.
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