Bitcoin IRA and Genesis Capital to launch lending program for cryptocurrency retirement accounts

The Bitcoin IRA company, which serves individual cryptocurrency retirement accounts, in collaboration with Genesis Capital, will launch a program to pay customers interest on their savings.

Bitcoin IRA users will be able to lend their Assets to the cryptocurrency firm Genesis Capital and receive interest. According to the statement, the interest received from the loan will be paid monthly and credited directly to the users ‘ retirement accounts.

The program is scheduled to launch in November this year. Executive Director and co-founder of Bitcoin IRA Chris Klein (Chris Kline) noted that “the interest earned by the customer may compensate the Commission for trading or custodial storage, allowing them to, essentially, maintain the account free.”

Bitcoin IRA, established in 2015, has registered more than 4,000 clients and have completed more than 350 million transactions. Back in 2017, Kline stated that Americans invest in cryptocurrencies as individual retirement savings for retirement.

According to a study conducted in the spring, the market for lending secured by cryptocurrencies continues to develop. Only the company Genesis Capital in 2018 issued loans secured by cryptocurrencies in the amount of more than $1.1 billion.