• Days
  • Hours
  • Mins
  • Secs
  • Wed, 18 Sep 2019, 03:01 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

New partnership provides $100M insurance for crypto retirement plans

Reitrement.American Advisors Group/Flickr

Wed, 26 Jun 2019, 05:08 am UTC

With cryptocurrency being used as a means of basically saving up for retirement now, Bitcoin IRA's recent announcement might make it quite appealing to retirees. It includes a $100 million insurance against theft or loss of cryptographic keys as well as reducing wallet fees.

Bitcoin IRA has entered into a partnership with BitGo Trust, The Block reports. With the former taking care of the retirement options part and the latter handling the actual custodianship, the collaboration results in more security for clients. This comes in the form of $100 million worth of annual insurance coverage.

Simply put, consumers' assets with Bitcoin IRA will be protected for up to $100 million, but losses exceeding this amount would not be covered.

On top of the insurance, the partnership also resulted in a 30 percent reduction of the fees for the client wallets and the option to diversify holdings in 12 digital assets, CoinDesk reported. What’s more, new clients will not have to pay for the account fee for the first year, the firm confirmed to The Block.

“We have tiered pricing based on a client’s usage and investment amount,” Bitcoin IRA said. “For example, if a client purchases multiple coins at once or invests over $25,000 then they’ll have better fees. The wallet holding fee is a small annual fee based on the amount of cryptocurrency in their wallet.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,271.00 (0.00%)
  • Ethereum (ETH) $212.37 (+7.31%)
  • XRP (XRP) $0.304500 (+17.39%)
  • Bitcoin Cash (BCH) $326.15 (+6.06%)
  • Litecoin (LTC) $75.34 (+3.89%)
  • Bitcoin (BTC) $10,271.00 (0.00%)
Sep 17, 2019 (Tuesday)
14:34
Wells Fargo to pilot internal blockchain-based digital currency for payments
12:57
Marsh, Arch Insurance (UK) Limited launch insurance solution for digital assets ‘Blue Vault’
12:18
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:17
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:45
Crypto exchange Binance backs Chinese crypto news portal Mars Finance
10:55
Crypto Technicals: XMR/USD rejected at 200-DMA, scope for resumption of weakness
10:18
Hedera Hashgraph blockchain goes live with 26 dapps
08:38
Crypto Technicals: Ethereum pauses shy of $200 mark, set to extend bullish momentum
07:38
Harbor tokenizes iCap Equity’s $100M real estate funds using ethereum blockchain
06:48
Crypto Technicals: BCH/USD fails to extends weakness below 200-DMA, retrace above will see upside resumption
06:02
Women in Leadership: Publicis Sapient hires Merril Lynch veteran Priya Bajoria as SVP Financial Services
05:24
Crypto Technicals: IOT /USD forms successive Dojis at cloud resistance, dents scope for upside continuation
05:17
Crypto payment services BitPay to roll out Ethereum support in the coming weeks
04:37
Blockchain food provenance platform OpenSC secures $4M in seed funding
04:03
Australia's REIQ partners with Igloo to develop blockchain-based tenancy agreements
03:48
Crypto exchange OKEx Korea to remove all privacy coins, including monero, dash, zcash, over FATF's 'travel rule'
03:39
Aventus unveils new ticketing protocol Aventus Classic and $15K prize for blockchain developers
03:35
C4IR UAE, World Economic Forum introduce blockchain accelerator program at Dubai's Area 2071
Sep 16, 2019 (Monday)
11:57
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:31
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft