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Cryptocurrencies

First Digital IRA helps Americans to save cryptocurrencies

Thursday 17 August 2017 | 01:18 PM CET

First Digital IRA (FDIRA) ihas launched a service to help Americans place cryptocurrencies, such as Bitcoin and Ethereum, inside an IRA account.

FDIRA has partnered with a number of companies to facilitate a multi-step process. First, FDIRA helps the customer set up a Self-Directed IRA with an approved custodian, which is a financial institution responsible for the administration of the account. Then, the company works with one of its partner exchanges to execute the purchase of the digital currencies to place into the customer's account. Finally, FDIRA ensures that the currency is placed in a secure digital wallet with one of its preferred wallet services.

FDIRA seeks to make an impact on the retirement market, with Bitcoin, Ethereum, and other digital currencies helping to diversify existing retirement portfolios.

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