28 years after Charles Schwab Trust Company introduced the no-annual-fee IRA for traditional assets, Choice by Kingdom Trust is breaking down that wall on the digital asset front with the no annual fee Choice IRA.
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With the new No Annual Fee Choice IRA, savers and investors get the free retirement account they’ve already come to expect for stocks, ETFs and bonds with a twist – they can hold bitcoin and other digital assets with no annual fee as well.
“No fee accounts have become the status quo in the traditional markets over the last decade, and we are excited that the industry has matured enough to bring free accounts to the digital space as well. That said, nothing in life is really free, usually when you aren’t being charged for something – you or your assets are the product. Today we are excited to bring free accounts to the 7.1 million bitcoiners and beyond, while openly acknowledging the risks associated and offering a full spectrum of custody choices – from a free account where your bitcoin is in motion, to holding your own keys,” says Ryan Radloff CEO of Kingdom Trust.
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Offering the freedom to choose investments based on personal preferences and risk tolerances is a core tenant of Choice’s mission. To that same end, Choice has unveiled a full spectrum of memberships which offer multiple custody options including: subsidizing your account with bitcoin in motion; having your bitcoin held in cold storage on your behalf; and even holding your own bitcoin private keys.
The latter option of holding your own private keys is a complex process which to date has been opaque and often required hiring professional consultants. To simplify that, Choice’s solution is powered by Casa, the team known for making it easy to hold your own Bitcoin private keys in a secure manner.
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