Bitcoin IRA, a company that allows individuals to invest in cryptocurrency in an IRS-approved retirement account, announced on Monday the launch of its new cryptocurrency and cash interest-earning program. According to Bitcoin IRA, the program was created through a collaboration with Genesis, a digital asset trading and lending firm.
Bitcoin IRA reported that by earning interest, clients are able to boost their account value by capitalizing on interest yields previously unavailable to long-term crypto holders. While sharing more details about the program, Chris Kline, COO and Co-Founder of Bitcoin IRA, stated:
“Interest-earning accounts through our crypto and cash lending program are an exciting revolution in decentralized finance. Borrowing and lending using cryptocurrencies and cash are providing new and safe opportunities for our clients to maximize the growth of their retirement accounts. Interest earned by a client can offset trading fees or custodial holding fees, essentially creating a FREE account making these fees a thing of the past.”
Bitcoin IRA went on to add that it will be launching its interest-earning crypto and cash-lending program starting in November to a limited number of participants on a first-come, first-served basis. Annual Interest rates may vary based on lending coin and term length.