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Bitcoin IRA Launches XRP

Bitcoin IRA Launches XRP

Los Angeles – BitcoinIRA.com, the world’s first company to allow individuals to purchase cryptocurrencies for an IRS-compliant retirement account, has made the digital asset XRP available to clients.

XRP’s value is derived from its utility as the best digital asset for payments, and is one of the largest digital assets by market capitalization. With the addition of XRP, Bitcoin IRA is expanding its cryptocurrency options, which also include Bitcoin and Ethereum.

Chris Kline, COO of Bitcoin IRA, said:

“We’re the only company in the world to offer an XRP feature in this way. Demand from our customers has been immense. XRP is an unique innovation in modernizing cross-border payments using superior blockchain technology. We’re excited to feature XRP and work with BitGo to bring this extraordinary asset opportunity to market.”

Customers who opt for XRP on BitcoinIRA.com will have their XRP stored in a multi-signature digital wallet from BitGo. BitGo is widely considered the most secure digital wallet, with multi-signature encryption.

BitcoinIRA.com is the first company to allow investors to purchase cryptocurrencies for their retirement portfolios. It provides an IRS-compliant solution that includes: setting up a qualified cryptocurrency account, rolling over funds from an existing IRA custodian, executing a live trade and then moving funds into a secured, multi-signature digital wallet. In the coming weeks, Bitcoin IRA plans to announce additional alternative coins including Litecoin, Ethereum Classic, and Bitcoin Cash.

Customers can learn more about digital asset XRP and other cryptocurrencies at: https://bitcoinira.com.

About BitcoinIRA.com

BitcoinIRA.com is the world’s first company that allows customers to purchase Bitcoins and other cryptocurrencies for their IRA or 401(k) retirement accounts. The platform works with leading fintech professionals to provide secure, high-quality cryptocurrency options.

Bitcoin IRA is a turnkey, full-service solution to purchase cryptocurrencies while maintaining full IRS compliance. The service includes setting up a qualified cryptocurrency account, rolling over funds from an existing IRA custodian, executing a live trade on a leading exchange and then moving funds into a secured, multi-signature digital wallet.

Bitcoin IRA is privately funded and based in Los Angeles.

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Five Things to Know About XRP

5 Things to know about XRP and Ripple


Almost instantly after entrepreneurs and techonology buffs discovered the genious behind blockchain technology, they started trying to recreate and improve upon it. Hundreds of new cryptocurrencies are now on the market, but out of the crowd only a few stand out. XRP and the network it is exchanged upon, Ripple, are among those few. XRP is poised to change the world of digital exchanges.

Here are five things you need to know about XRP and Ripple:

  1.       XRP and Ripple are two different things

People often confuse Ripple and XRP as being one in the same. In fact, they are two different things. Ripple is an open payment network which connects banks, payment providers, digital asset exchanges and corporations via RippleNet. The network uses blockchain technology, like Bitcoin and other altcoins, but it has modified and improved blockchain to make it scalable and capable of facilitating massive transfers of assets across borders, all over the world.  

XRP is a digital currency created by Ripple and transferred on the Ripple Network. It’s a cryptocurrency with a clear purpose – it is designed for financial institutions and payment providers. In short, it’s built for large scale use rather than the peer-to-peer single transfers made on a slow-moving, Bitcoin blockchain.

 

  1.       XRP isn’t trying to replace fiat currency

The aim of Bitcoin and most altcoins is to provide an alternative and eventually overtake traditional fiat currency. In contrast, XRP works with fiat currencies on more than 10 digital exchanges to transfer value across borders. The goal is to provide a faster transfer of funds with real-time traceability and lower operational and liquidity costs.

Today, it takes about 3-5 days to send money from one country to another through a bank, which usually involves high fees the risk of the payment being delayed. XRP can accomplish the same task in an average time of 4 seconds.

 

  1.       XRP isn’t mined like Bitcoin

Bitcoins are created through a process called “mining,” in which massive hubs of computers work to solve complex math problems and are rewarded with a Bitcoin for every solution provided. XRP is not a mined digital asset. Every unit of currency that exists has already been created by Ripple. Most of XRP is owned by Ripple itself with the rest held by companies and individuals.

 

  1.       XRP operates at a much greater scale and speed than Bitcoin

Bitcoin blockchain technology can only process 7 transactions/second. A single transaction may require a processing time of 10 minutes (even up to two hours). A traditional payment service, like a credit card, averages 2,000 transactions per second. Bitcoin’s scalability has long been a subject of debate and is what lead to the hardfork on August 1, 2017, which created Bitcoin Cash. The slow transaction time is one of the largest hurdles preventing Bitcoin from replacing traditional fiat currency.

The XRP blockchain ledger can process more than 1,000 transactions per second. It can scale to the same throughput as Visa and process in real-time.

 

  1.       XRP is the future of global asset exchanges

The speed, scalability, security and low costs of the Ripple Network and XRP all but guarantee that banks and financial institutions will eventually make the switch. It is the goal or Ripple to someday be the platform for day-to-day operations for these institutions. Ripple is solving the issues involved with cross-border payments and changing the way we make exchanges of assets. Its solution involves creating a common standard for payments and using XRP as the digital asset that will bring together currently disconnected ledgers and blockchains. Check out the current XRP prices.

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