The choice is bringing tax-efficient bitcoin investment to the mobile platform, launching on the iOS app store to reach today’s investor wherever they are.
Today, Choice, an investment firm with over $18 billion in assets under management, announced the debut of a new iOS app that enables all users to invest tax-free in bitcoin.
“Now, the moment you decide you want to invest in your future, you can open your phone, create an account and start trading thousands of assets — including bitcoin— all from the palm of your hand, all without capital gains taxes,”
Ryan Radloff
According to Choice, over 15.2 million people in the United States possess bitcoin and have a retirement account, yet their retirement account has no bitcoin. It appears to be the best and most convenient way to invest in bitcoin tax-free with this new app.
Choice wants to bring this tax-advantaged investment vehicle (an IRA) directly to their clients. Almost everyone in today’s digital age owns a smartphone and so has access to their services. 60% of Americans who do not have investments outside of their retirement accounts now have tax-free access to bitcoin. With this move, Choice enters a massive market.
“With over 80% of Facebook and Twitter usage occurring on mobile devices, we needed to make retirement more accessible and meet people where they currently live. Today, we are taking a significant step in that direction,” Choice CEO Ryan Radloff stated.
When I hear news like this, the most typical response I hear from many Bitcoiners is, “Well, if it’s not your keys, it’s not your bitcoin.” And if you were thinking so, I have some good news for you: when you use bitcoin within the Choice app, you have the option of keeping your own keys or entrusting them to Fidelity. You may maintain complete control over your bitcoin.
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Kingdom Trust Company, an independently certified custodian regulated by the South Dakota Division of Banking, offers Choice. It is a leader in developing novel and innovative custody solutions for individual investors, investment sponsors, family offices, advisory companies, broker-dealers, and a variety of other investment platforms.
The choice is the first retirement service to offer a single account for all client retirement assets, physical or digital, legacy or traditional, with its May 2020 debut. Today, the platform manages over 125,000 retirement accounts and over $18 billion in assets spread across hundreds of individual assets. Since Choice’s May launch, digital assets have grown to over $1.6 billion, or roughly 10% of total assets.
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