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Stellar Lumens [XLM] is the #3 choice for IRA investors, says Bitcoin IRA

Anirudh VK

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Stellar Lumens [XLM] is the #3 choice for IRA investors, says Bitcoin IRA
Source: Unsplash

Bitcoin IRA, an institution providing Individual Retirement Accounts in cryptocurrency, announced recently that Stellar Lumens [XLM] was their third most popular currency. The platform had added support for XLM and ZCash [ZEC] earlier this year in July.

Bitcoin IRA is a platform that allows customers to purchase Bitcoin for their retirement accounts. The service also offers support for other cryptocurrencies and processed over $300 million last year alone in investments.

On the move, the Chief Operating Officer of Bitcoin IRA, Chris Kline, stated:

“We just launched Stellar Lumens and Zcash this past June, and it’s exciting to see both coins take off so quickly. With so much momentum in the crypto sector in recent months, I feel confident that the bull market is here to stay.”

The company offers an IRA solution with maximum security ensured through state-of-the-art multi-signature values and a catch-all solution for cryptocurrency IRA investments. This includes any rollover from previous IRA custodians, and trading on the exchange to obtain the asset. This effectively reduces the barrier of entry into cryptocurrencies.



IRA is a form of retirement plan that is widely used in the United States, which involve a custodial account set up for the benefit of the customer. This is also bolstered by a retirement annuity contract from a life insurance company. It allows taxpaying citizens to invest in funds that are not taxable at the time of deposit. Instead, those investing the funds will be taxed upon its withdrawal. In this way, it allows for tax-deferred growth of funds.

Bazza Jewell, an expert from the banking sector, said on the statement:

“Opening up low-cost cryptocurrencies like Stellar Lumens for IRA accounts will drive adoption due to ease of access. The low cost will incentivize people to buy more of the token, with the IRA firm profiting as well. It seems to be a win-win situation for both the sides due to a fitting use-case.”





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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