Bitcoin-only retirement fund, Bitcoin IRA, takes in $2m since launch
Bitcoin-only retirement fund Bitcoin IRA has opened $2m worth of Bitcoin Individual Retirement Accounts since it opened for business five months ago. The company’s product differs from other cryptocurrency investment products because it offers investment into “real” bitcoin at a lower price, rather than offering an ETF or an investment fund. Bitcoin ETFs require fees, as well as trading at around 20-30% over the market indices for bitcoin, whereas Bitcoin IRA offers a 15% initial fee for a wallet setup and investment in actual bitcoin.
LOS ANGELES, Dec. 15, 2016 /PRNewswire/ -- The only American Bitcoin-based retirement fund that allows people to invest in Bitcoin, Bitcoin IRA is happy to announce its successful completion of a new milestone. The platform has opened Bitcoin Individual Retirement Accounts (IRA) worth over $2 million since it started its operations 5 months ago.

Bitcoin IRA differentiates itself from other bitcoin investment products in multiple ways. Unlike Bitcoin ETFs and investment funds, Bitcoin IRA offers an opportunity for individuals to invest in "real" Bitcoin at a much lower fee. As the deadline for IRA investment nears, Bitcoin IRA is offering innovative pricing for the benefit of investors.

Investors looking forward to parking their money in Bitcoin-based/linked retirement fund have two options. They can either invest in the real thing, stored in a specialized bitcoin wallet offered by Bitcoin IRA or opt for a proxy certificate ETF which is simply a dollar denominated representation of the digital currency. If the performance of Bitcoin this year is any indication, then those holding on to actual bitcoin tend to gain impressive returns over time. The same can't be said for Bitcoin ETFs.

Bitcoin ETFs often trade at 20-30% premiums over the actual market indices for bitcoin (e.g. Bitfinex, Coinbase etc.). They also have hidden fees chargeable on the purchase, for annual management and liquidation. A comparison between Bitcoin IRA's and Bitcoin ETF's fees show recurring charges for Bitcoin ETF as against a one-time fee charged by Bitcoin IRA.

Considering a 3-year investment plan, a person investing in 11 BTC worth of ETF when the Bitcoin price is at $750 is going to spend $289 as purchase fee at 3.5%. Over a period of three years, if the cryptocurrency's value appreciates by $100 each year, then at 3.5% management fees, the cost incurred will be $327 at $850/BTC, $366 at $950/BTC and $404 at $1050/BTC respectively. After the period, when the investor sells the ETF after paying a 3.5% purchase fee of $443 at $1150/BTC, he would have spent a total of $1829 (17.5%). However, with Bitcoin IRA, apart from a flat 15% initial fee, there are no hidden charges or management fees. For investing in 11 real bitcoins for a period of 3-years at an initial rate of $750 per unit will only cost the investor $1238, upfront irrespective of the cryptocurrency's appreciation during the investment term.

Unlike Bitcoin ETF, Bitcoin IRA investors can continue to keep their investment in bitcoins, beyond the investment term. Bitcoin IRA's pricing model focuses on covering the extensive security costs involved in managing the revolutionary product and whatever the growth in investment entirely belongs to the investor.

About Bitcoin IRA

Bitcoin IRA is the only Bitcoin-based retirement investment portfolio that allows people to invest Bitcoin directly into an IRA or 401(k). The investment options offered by Bitcoin IRA are approved by IRS. The platform constantly works with leading fintech professionals to provide secure, high-quality Bitcoin investments.

Learn more about Bitcoin IRA at – https://BitcoinIRA.com

Get your free Bitcoin IRA Bitcoin Investment Guide at – https://bitcoinira.com/bitcoin-investor-guide/btcpr/

Media Contact

Contact Person: Johannes Haze

Contact Email: [email protected]

Location: California, USA

Bitcoin IRA is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.

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