During a recent conversation with LearnBonds.com, Chris Kline, the chief operating officer (COO) of Bitcoin IRA, explained that they are very bullish about the future of the cryptocurrency market.

Bitcoin IRA is a revolutionary company that offers cryptocurrency services and Individual Retirement Accounts (IRA) in digital assets.

In this interview, Mr. Kline has also talked about China and how Facebook’s Libra could disrupt global commerce as well.

1. There are just a few Bitcoin / Crypto IRA services in the market, how did you come up with this idea of creating Bitcoin IRA?

“Our company was the first to launch in 2016 and it remains the largest Bitcoin IRA firm today with over $350m in investments processed and 4,000 clients.

We have been in the alternative asset space for nearly 10 years. Previously we helped individuals invest in real estate, businesses, gold and other precious metals for their retirement account. In 2014 we started hearing the early groundswell of chatter around crypto. Bitcoin has similar qualities to gold as a store of value and many believe it can be a hedge against another economic meltdown so it made sense to expand our offerings into crypto. It took about 18 months to build the first turn-key solution that fit the individual retirement account (IRA) world, and we’ve been evolving and growing ever since our 2016 launch.”

2. Do you have any forecasts for how much the Bitcoin IRA industry will grow in the future?

“Market and regulatory conditions in 2018 really thinned out the crypto individual retirement account herd of 2017.  It will be interesting to see who grows, who innovates and who carries this niche industry forward.  Our goal is to be the continued catalyst of the product we created.”

3. How is Bitcoin IRA dealing with the large volatility inherent to the cryptocurrency market?

“Account holders self-direct their transactions through our technology platform. Battling volatility requires unlimited access for account holders. The launch of our 24/7 Self-Trader and its continued uptime gives our clients real control.

Also, the addition of instant cryptocurrency swaps in August eliminates settlement delays. A client wanting to swap from Bitcoin to Ethereum can now do it instantly 24/7.”

4. You have recently announced a new service that allows customers to lend their retirement assets for interest. What was the main reason that pushed you to launch this service?

“The cryptocurrency market must mature into a comfortable place for everyday folks. Banks pay (albeit very small) interest on deposits.  People are used to this.  Why not the same for their crypto?  By building mainstream applications, our company can help drive further mass adoption.

Since we’re focused on retirement accounts where users typically hold for longer periods of time, earning interest during that period can be a windfall. We’re allowing people to earn on their crypto or cash positions and it’s an exciting new product.”

5. Bitcoin IRA processed over $350m in investments for more than 4,000 clients. Do you think you can reach $1bn and amass 10,000 clients in the near future?

“Most certainly. Our upcoming product rollouts and major crypto events like Bitcoin halving, China’s federal cryptocurrency and Facebook’s Libra on the horizon we see the future as very promising for our company and all crypto investors.”

6. Retirement funds are being affected by low interest rates imposed by Central Banks in different jurisdictions. Do you think a small allocation in Bitcoin could eventually help the pension system?

“I am not a financial advisor, but I am personally a big proponent of the “get off zero” movement that suggests every pension fund, endowment, money manager, private capital firm, individual, etc should at least consider a small position in crypto, especially given the returns we’re seeing. If crypto is a hedge against a market downturn too, then it can be a strong asset for a balanced portfolio strategy with traditional stocks and other investments.”

7. At the moment, you are offering support for Bitcoin, Ethereum, Ripple’s XRP, Litecoin, Bitcoin Cash and Ethereum Classic. Are you planning to add support to other cryptocurrencies in the future?

“We’re taking the conservative approach with adding new coins to our platform. We don’t want to offer smaller coins that may later be determined to be a scam, lose liquidity or have significant concerns by government regulators in the future. This is a sensitive space and we’re taking the cautious approach.”

8. Which are the main challenges that Bitcoin IRA is facing with regulators?

“The entire industry faced significant challenges from fresh regulation for the last couple years now. And it was important for long-term growth of the space. 

We find ourselves in very collaborative relationships with regulatory entities. We’ve always been extremely transparent and available for their questions and requests. Over time, we’ve become a resource for them in this young and growing industry.“

9. You mentioned Facebook’s Libra, what is your opinion on it? Are you open to offer support to it in the future?

“Libra will be a major disruptor to global commerce. While it still needs to be vetted through regulators, expect it to create friction-less cross-border transactions at significantly lower fees for merchants and other participants.

Facebook’s active user base is more than 2 billion, larger than most countries, so it may provide sweeping change to our society. Bitcoin and other cryptos should see more inflows as users become familiar with the crypto ecosystem – wallets, keys, exchanges, etc. – and learn the benefits of decentralized money.

Will we offer it? Very likely.”

10. Which are Bitcoin IRA plans for the coming two years?

“We’re excited about our launch of interest-earning accounts which are rolling out now to select groups of our customers. This is an industry first for retirement accounts and a major benefit to our clients. Beyond that, we have a long roadmap of projects that focus on our core mission of helping Americans retire early.”

Thank you, Chris, for the conversation!