Leading cryptocurrency IRA software provider iTrustCapital has introduced a staking program that will let customers profit from keeping their crypto assets in IRAs.
The newest initiative from iTrustCapital is expected to be yet another game-changer in the context of the adoption of cryptocurrencies and rising demand for digital assets across the financial sector.
The investing platform said in a press statement that investors utilizing this option would have the chance to take advantage of tax benefits for a staking payout of 9.5% APY.
iTrustCapital launches staking program
In self-directed digital asset IRAs, iTrustCapital is a market leader, providing customers with solutions that let them directly buy and sell various cryptocurrencies. Moreover, customers can invest in precious metals like gold and silver using their retirement funds.
To invest in cryptocurrency using their IRAs, clients can use the staking program to access the company’s products. Customers can expand their cryptocurrency portfolio with this self-directed Crypto IRA program.
All iTrustCapital clients have access to Polkadot (DOT) staking support at this time. To participate, account holders must have at least 5DOT in their accounts, and staked coins can generate up to 9.5% APY in passive income.
Clients will have 90 days to stake their DOT tokens before having the option to withdraw or reinvest. Over 3,400 customers have signed up for the first staking pool, and more than 35% of the DOT tokens have been staked as of now, the company claims.
The staking pools will be expanded to include other digital assets, according to the 2018-launched iTrustCapital. The US-based network said in August that its overall transaction volume had exceeded $6 billion. Since July 2021, when iTrustCapital added support for Enjin (ENJ) to its IRA/401k, the amount has grown by 200%, surpassing the $2 billion milestone.