It’s Cory with another big announcement. (Yes, this is right after our huge improvements to the My BitIRA platform. We’re overachievers!)
Today we’re thrilled to announce the latest addition to the BitIRA collection: AAVE
Aave (formerly ETHLend) was the cryptocurrency and the platform that kicked off the DeFi boom. Weirdly, “aave” is also Finnish for “ghost.”
In just four years, Aave’s innovations like flash loans and crypto lending pools have come to define what we think of as decentralized finance. DeFi is huge, up about 9-fold in the last 12 months. We wanted to make sure all BitIRA customers had an opportunity to add the growth potential of a DeFi native cryptocurrency to their crypto IRAs.
What is AAVE?
AAVE is the native cryptocurrency of the Aave DeFi platform, built to ERC-20 protocol. In the words of the founders:
AAVE is used as the centre of gravity of Aave Protocol governance. AAVE is used to vote and decide on the outcome of Aave Improvement Proposals (AIPs).
We recently did a deep-dive into both the Aave platform and the crypto – learn more here.
Here’s why AAVE is so exciting…
DeFi is huge. We’re at the point now where the banks and brokerage houses that held a stranglehold on pretty much all financial transactions are taking the threat of disruption by DeFi seriously. If they’re right, then the 9x growth we saw in DeFi the last 12 months could be just the tip of the iceberg.
More specifically, though, AAVE has been in the news on its own terms:
- Guess who’s on The Motley Fool’s Hottest Cryptocurrencies in 2022 list?
- CoinDesk named AAVE founder Stani Kulechov Most Influential 2021
There’s more, but those are the highlights.
How to open an AAVE IRA
You can learn a whole lot more about the possible benefits of an AAVE IRA here (and remember, when you open your crypto IRA with us, you’ll also get access to the rest of all the cryptocurrencies BitIRA supports.
If you’re interested in diversifying your retirement savings while enjoying all the tax benefits of an IRA, we can help you get started. Check out the totally free Insider’s Guide to Crypto IRAs to learn more. That’s the first step in determining whether or not a digital IRA is right for you.
Don’t sit on the fence. Nobody knows what tomorrow will bring, so I strongly urge you to get started today.