Bit IRA – a leading digital currency firm that allows customers to fund their retirements with bitcoin and other forms of crypto – announced in a press release last week that it’s ending its monthly fees.
Bit IRA Eliminates Fees for Customers
Overall, customers of Bit IRA are slated to save nearly $30 per month. Their savings will come to more than $350 per year. While this may not seem like much, Jeremy Warner – head of sales at Bit IRA – explained in an interview that if everyone had invested that much money into bitcoin in March of 2020, they would now have ten times that in their accounts. He stated:
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This change comes from our longstanding relationship with our custodial partner Equity Trust Company. I think it’s incredibly important that our customers get the biggest bang for their buck. Little savings really add up… That’s one of the most amazing things about cryptocurrencies. There’s simply amazing growth potential there.
Crypto is all about giving monetary independence to traders, and for Bit IRA, eliminating fees is the first step towards bringing crypto’s goals to prominence. By giving everyone more of their money back, they can potentially invest further in digital assets and assert themselves in what is easily becoming a rather unsteady financial space. With inflation at a 40-year high and intense economic distress under Joe Biden, it appears many more are turning to crypto as a means of keeping their wealth steady and stable.
Warner continued his statement by mentioning that the “easy money” has not yet been made. He says he gets asked this question all the time, but he firmly believes that crypto has only hit the tip of the iceberg. He says:
I had people ask me that question in 2017, in 2018, and in 2019… I suppose I’ll keep hearing that question. Here’s my answer: so long as there’s inflation, so long as central banks can print new money any time they want, so long as it’s possible to freeze citizens or even whole countries out of the traditional financial infrastructure, people will be interested in cryptocurrencies.
At the time of writing, Bitcoin IRA has added a wide variety of assets to its investment platform including Ethereum, Ethereum Classic, Litecoin, bitcoin cash, and Stellar Lumens. Warner says that customers should keep their eyes and ears open for some “big announcements” in the coming future, though he hasn’t hinted what they could be.
Why There’s a Need for Crypto
He concluded with:
As long as there is dependence on a centralized financial system, there will be a need for an independent, decentralized alternative. I believe that alternative has become cryptocurrency. Thanks to this change in our custodial fee structure, our customers can put even more of their money to work in a digital IRA. It’s a win/win.
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