Crypto retirement accounts provider iTrustCapital experienced a 60% surge in transaction volume in 9 months, hitting the $5 billion mark. The firm has more than 35,000 users.
Wednesday that the total transaction volume on its platform had surpassed $5 billion, marking a 60% increase in nine months.
As told by iTrustCapital, many of its users, ranging from millennials to working professionals to senior citizens, are trading cryptocurrencies for the first time. The firm only charges a 1% buy-sell fee on cryptocurrency transactions. There are no monthly fees, and investors only need to deposit $1,000 to open an account. Through the platform, users can trade over 25 cryptocurrencies 24 hours a day, seven days a week.
In the United States, IRAs enable individuals to save for retirement through tax-free capital accumulation or on a tax-deferred basis. Those with IRAs do not need to pay taxes on asset capital gains held within these accounts but may need to pay taxes on withdrawals when they reach retirement age, depending on account type. Early withdrawals are permitted with a 10% penalty, though this may be waived in certain circumstances, such as when using funds to pay for college.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
When a traditional IRA makes sense over a Roth accountIRAs are powerful tools, and should be used to your advantage for retirement savings
Read more »
Crypto Businesses Stand Up to Harsh Regulations Proposed by EU PolicymakersOver 40 crypto companies have addressed the EU not to implement draconian crypto regulations that attempt to bend down decentralized platforms that offer financial services
Read more »
Robinhood acquires British crypto firm Ziglu to push expansion plansCrypto-friendly stock trading app Robinhood has signed a deal to acquire Ziglu, a crypto firm founded by former Barclays technology head Mark Hipperson.
Read more »
WazirX CEO, COO Move Out of India to Dubai: ReportTheir departure from India is attributed to transaction volume crashing to a 6-month low at major crypto exchanges due to hostile govt policies. Their departure from India is attributed to transaction volume crashing to a 6-month low at major crypto exchanges due to hostile govt policies
Read more »
'Let’s build a Europe where Web3 can flourish:' Crypto companies sign an open letter to EU regulatorsForty crypto companies called on the European Parliament, European Commission and other E.U. institutions to ensure common-sense crypto regulation.
Read more »
Silvergate Bank revenue soars in Q1 as institutional crypto trading activity fallsSilvergate Bank had a good Q1. The firm had a 94% net income growth year-to-year despite institutional investment going down in the same period.
Read more »