BitIRA is a remarkable company for multiple reasons. They are the world’s only secure digital currency IRA solution. To improve their current products, the company recently introduced a few different insurance and security policies. As such, all BitIRA users can now enjoy a fully-insured product with funds kept in cold storage at all times.
A big Step Forward for BitIRA
It is evident any financial solution linked to digital currencies will need to be safe, secure, and accessible. In the case of BitIRA, the company has checked all three boxes for quite some time now, yet there’s always room for improvement. Most recently, the company introduced new insurance and security procedures to protect customer funds and make their offering even more competitive.
As part of these new security features, the company now offers end-to-end insurance. All of the assets held in storage by the firm are fully insured through a policy provided by Lloyd’s of London. Even internal fraud or theft will not disrupt the assets under BitIRA’s control. This will put a lot of investors’ minds at ease, as they know they are dealing with a properly insured offering.
Secondly, the funds are now being kept in multi-signature wallets, which introduces another layer of security. The keys required to access these funds are kept in separate physical locations, which is another positive development. With all of the funds in cold storage at all times, BitIRA is certainly taking this product to a whole new level. They even went as far as to put the funds in wallet devices stored inside various Class 3 vaults protected by armed guards.
Although security and insurance are critical in the world of digital currencies, the company also expanded its overall portfolio in an interesting way. More specifically, the company used to focus on just Bitcoin for its IRA products, hence the company’s name. This situation has now come to change, as it now encompasses Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, and XRP as well. This is a rather surprising development, even though it makes sense to pay attention to these currencies at this stage.
With global interest in cryptocurrency still rising, it makes sense for service providers to come up with different and creative solutions. Focusing on more digital currencies is always a good thing, and adding even more security to the existing product will certainly be appreciated by customers. With their new insurance policies now extended to cryptocurrencies in storage, BitIRA is seemingly ahead of its competitors in this space as of right now.
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