Recent Opportunities With Cryptocurrency.
Recent Opportunities With Cryptocurrency We believe it is valuable to share these opportunities because it will help my fellow entrepreneurs out there understand the incredible ways digital currency can be incorporated into business and our personal lives.
Bitcoin IRA
This is a relatively new concept for retirement investing that illustrates how cryptocurrency should be seen as a viable monetary source. For example, Bitcoin IRA is a completely compliant company that helps people start a retirement account. Or, if you already have an IRA, you can transfer those funds into this and convert it into cryptocurrency, taking another approach to investing in this digital currency. This type of IRA must follow all the rules and regulations set out for these types of retirement accounts.
Also Read: What is digital currency and how cryptocurrency mining work ?
Spending or withdrawing funds from an IRA account before you reach the retirement age of 59-and-a-half does lead to early withdrawal penalties just like a traditional IRA. Therefore, it becomes an ideal way to continue growing your retirement funds now.
Bitcoin ATM Teller Machines
This is one of the coolest ways to think about mainstreaming cryptocurrency. BitAccess is one of the very first of these machines to become readily available and illustrate how cryptocurrency can become more accessible. The machines enable users to deposit cash. In return, they get a digital wallet that has the equivalent in bitcoin cryptocurrency. The machine also works the other way so that users can put cryptocurrency in and receive traditional currency in return.
Microfinance
Lending is an expanding new application for Bitcoin. While some companies have struggled to maintain their service in this niche due to regulatory pressures, others are emerging after addressing the legal framework. This includes Bitbond. Kiva is another company that does Bitcoin loans, helping entrepreneurs in countries all over the world get access to microfinance. Other options that are appearing are a blockchain-based SALT loan platform that is intended to leverage Bitcoin assets.
