LOS ANGELES, March 5, 2020 /PRNewswire/ -- Bitcoin IRA, the world's first, largest and most secure digital asset IRA technology platform that allows clients to purchase cryptocurrencies and other digital assets for their retirement accounts, today released activity trends on its 24/7 self-trading IRA platform.
Since 2016, Bitcoin IRA has processed over $400 million in cryptocurrency transactions, opened more than 50,000 consumer accounts and performed thousands of individual trades for its clients. In December 2018 the company launched its proprietary real-time online trading platform for self-directed IRAs, enabling its clients to buy, sell, and swap cryptocurrencies directly inside their retirement accounts 24 hours a day, 7 days a week.
The data highlighted in this release reflects the transaction activity on the company's platform since it launched in late 2018.
- Total transaction volumes reached all-time highs on Bitcoin IRA's 24/7 self-trading platform in February 2020.
- 85% of all crypto transactions in February 2020 were purchases, despite high volatility in global investment markets with concerns over the coronavirus epidemic.
- Transaction volumes were high relative to transaction amounts in 2020 suggesting a greater number of individuals are interested in investing in cryptocurrencies but starting with smaller amounts. This data is also reflective of the company lowering its investment minimums in February 2020 to $500 per cryptocurrency.
- Demand for Ripple XRP still remains high as an IRA investment in 2020. Consumers seem to have a strong belief in the long-term potential in the company and its digital currency.
- Time-of-day data highlights that users most often make transactions outside work hours, or once traditional wall street stock markets have closed since crypto markets are open 24 hours a day, 365 days a year.
Data used for this report represents thousands of transactions made exclusively on the Bitcoin IRA 24/7 self-trading platform since launching in December 2018. A transaction is any single cryptocurrency that was purchased or liquidated on the Bitcoin IRA platform. For the purposes of this report, swaps were counted as two transactions, a purchase and a liquidation, and each cryptocurrency was counted as a separate transaction for orders with multiple cryptocurrencies in a single order. Actual transaction amounts and volumes were excluded from this report for consumer privacy.
In addition to this report, earlier this year the company announced reaching a milestone of $400 million in cryptocurrency transactions and enabling its self-directed clients to generate an average net return of 11.6%.
Chris Kline, COO, Bitcoin IRA said:
"This data represents our hard work and dedication in providing a secure, accurate, and high-quality platform for our clients that enables them to capitalize on the incredible growth of cryptocurrencies. Transaction volumes recently reached all-times highs and we expect that trend to continue through 2020 as the market matures and consumer adoption increases."
Individuals interested in adding cryptocurrencies to their IRA can learn more at bitcoinira.com/how-it-works or by calling 866-333-4307.
ABOUT BITCOIN IRA
Bitcoin IRA, available at bitcoinira.com, is the world's first, largest and most secure digital asset IRA technology platform that allows clients to purchase cryptocurrencies and other digital assets for their retirement accounts.
The company provides a trading platform for self-directed retirement accounts which allows clients to set up a qualified digital asset IRA account, transfer funds from an existing IRA custodian, execute trades in real-time 24/7 through a leading exchange and then moves the funds into an industry-leading multi-signature digital wallet from BitGo, Inc.
Since 2016, Bitcoin IRA has processed over $400 million in investments, gained over 4,000 clients and received more than 650 5-star client reviews. The company has been featured extensively in the media, with coverage in Forbes magazine, CNBC, CoinDesk and The Wall Street Journal, among other publications.
Bitcoin IRA is a financial services technology provider and as such is not a financial adviser, cryptocurrency, exchange, custodian, wallet provider, initial coin offering (ICO), or money transmitter. Bitcoin IRA is privately funded and based in Los Angeles.
Learn more about Bitcoin IRA at bitcoinira.com or call 866-333-4307.
SOURCE Bitcoin IRA