While bitcoin still dominates the cryptocurrency market, it’s no secret that it’s wise to diversify — even within one’s cryptocurrency holdings. To that end, BitIRA is always looking for new opportunities to offer more crypto coin options for our customers. And this week, BitIRA has announced that two coins have been added to our options for Digital Currency IRAs, in addition to the six already offered: Zcash (ZEC) and Stellar Lumens (XLM).
Stellar is a protocol created in part by a co-founder of Ripple in 2014. The two protocols are often compared, but one of the main differences is that Stellar is open source while Ripple is closed source. In addition, while Ripple primarily markets to large banks and consortiums, Stellar targets both banks and individuals, especially in developing countries. Stellar has a unique consensus protocol, called the FBA algorithm, and features a decentralized exchange. The coin associated with Stellar is called Lumens (XLM), and it is now offered as a digital asset that one can hold in their Digital IRA with BitIRA. Learn more about Stellar and Lumens (XLM) here.
Zcash (ZEC) is a cryptocurrency founded in 2016 and runs on the Zerocash protocol. This coin focuses on user privacy and allows the sender, recipient, and amount transferred to be concealed. In addition, an option of “selective disclosure” exists to enable those users that want to keep a public record of their transactions for compliance purposes to do so. Because of this robust functionality, Zcash has drawn many followers in the crypto world, and BitIRA now offers this coin for its customers to hold in their Digital Currency IRA. Learn more about Zcash (ZEC) here.
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