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The Latest In Coin IRA News

Gold Bitcoin

The Bitcoin Halving: What to Expect

The anticipation is palpable in the most eagerly awaited event in the world of cryptocurrencies, the Bitcoin halving.  Investors have burning questions like, "How will this affect Bitcoin's price?" and "What does it mean for us, the investors and holders of Bitcoin?"  We are here to explore the intricacies of this phenomenon to provide you with insights into what lies ahead. Understanding the Bitcoin Halving Before we delve into the implications of the halving, let's demystify this process. Bitcoin halving refers to the reduction in mining rewards that Bitcoin miners receive for processing transactions. Once every 210,000 blocks are mined, which occurs approximately every 4 years, the miners' rewards are cut in half, reducing the number of Bitcoins entering circulation. The Significance of the Bitcoin Halving for Investors As far as the impact of the halving on the crypto space and, more importantly, on investors, let’s explore further. As we’ve stated, the Bitcoin halving reduces the speed at which the number of new Bitcoins enter circulation, and it plays a crucial role in avoiding inflation and maintaining stability in the cryptocurrency market. Moreover, the halving brings us closer to Bitcoin's predetermined cap of 21 million coins, a vision set forth by its mysterious inventor, Satoshi Nakamoto. This inherent scarcity contributes to Bitcoin's value and makes it an attractive investment, particularly for those seeking to hedge against traditional fiat currencies. Unearthing the Timing of Bitcoin Halvings Bitcoin, the brainchild of Satoshi Nakamoto, emerged in 2008 and began its real-world application in January, 2009. The first halving took place on November 28, 2012, followed by the second on July 9, 2016, and the third on May 11, 2020. Though Bitcoin halvings are expected to take place every 4 years, there are no precise dates for these events. The next halving is projected to be completed on approximately April 20, 2024. Excitement brews as we draw closer to this momentous occasion! How Does the Bitcoin Halving Affect Price? In 2012, the price of Bitcoin on the halving day was $12.35, and 150 days later, the price had gone up to $127.  In 2016, Bitcoin's price on the halving day was $650.63, and 150 days later, the price was $758.81. In 2020, Bitcoin's price was $8,821.42 on the Bitcoin halving date, and 150 days from the BTC halving date, the price had gone up to $10,943.00. What is evident from the BTC price movements during Bitcoin's previous halvings, therefore, is that the price of this particular cryptocurrency tends to increase each time this momentous event happens.  Still, it is important to keep in mind that there is no certainty in the crypto space. The overall effect of the upcoming Bitcoin halving event will depend on a lot of factors - market confidence, liquidity, etc. One thing's for sure, investors and crypto analysts will be keeping their eyes open for positive signals in the next Bitcoin halving event. The Potential Impact on Bitcoin's Price Drawing from historical halvings, we can speculate that Bitcoin's price may increase after the 2024 halving. With a decrease in the supply of new Bitcoins, demand tends to surge, pushing prices upwards. A brief review of Bitcoin's price trajectory reinforces this possibility. From its humble beginnings, when 10,000 BTC exchanged hands as payment for two pizzas, to reaching an all-time high of $68,000 in 2021, Bitcoin's value has undergone tremendous growth. While the Covid pandemic of 2020 led to a temporary price dip, Bitcoin's resilience was evident as it swiftly bounced back. The intriguing nature of the halving lies in its potential to attract new investors and traders. The excitement surrounding the event contributes to new interest in Bitcoin and an awareness of Bitcoin's scarcity, fostering an environment of heightened demand. That being said, it is important to acknowledge that the crypto market is characterized by unpredictability. While the halving's impact on Bitcoin's price is generally positive, it is subject to a myriad of variables, including market confidence and liquidity. The Benefits of the Halving for Investors Halvings offer several advantages for investors and Bitcoin enthusiasts alike. The most significant benefit lies in the resulting scarcity of Bitcoin, which often leads to price appreciation. Past halvings have demonstrated this trend, although it's important to remember that past performance is not indicative of future results. Furthermore, the excitement generated by the halving event tends to spur increased trading volumes. This higher liquidity enhances the security and usability of the Bitcoin market, attracting more participants and reinforcing its credibility. As the Bitcoin network continues to adhere to its halving schedule, confidence in its reliability grows. Investors seeking secure and potentially lucrative assets are drawn to Bitcoin, further increasing its demand and potential for price growth. Looking to the Future of Bitcoin The fourth Bitcoin halving is expected to occur in April, 2024, with the completion date dependent on how quickly Bitcoin miners reach the 210,000-block milestone. Considering Satoshi Nakamoto's vision of preserving Bitcoin's value and its potential to revolutionize the global financial landscape, the future holds immense promise. As a holder or investor in Bitcoin, each halving event sets the stage for a brighter future. The choice is yours – will you seize the opportunity to be a part of this remarkable journey before the next halving? Conclusion As the next Bitcoin halving nears and excitement fills the crypto sphere, Bitcoin's value proposition becomes more pronounced, attracting investors seeking stability and potential growth. The potential impact on Bitcoin's price remains a subject of anticipation and speculation. However, it is essential to approach the crypto market with caution, understanding that it is subject to various external factors. The history of Bitcoin halvings demonstrates positive trends, but the future is always uncertain. Remember, the beauty of cryptocurrencies lies in their ability to empower individuals and reshape financial paradigms. Whether you're a seasoned investor or a curious newcomer, the opportunity to participate in the Bitcoin revolution awaits. So, should you choose to embark on this thrilling journey with us, and should you require guidance or assistance, don't hesitate to reach out to our dedicated Customer Support team at Coin IRA. Together, let's navigate the ever-evolving world of cryptocurrencies and witness the transformative potential of the next Bitcoin halving event!
Bitcoin Cash

What is Bitcoin Cash?

Many of our account holders ask about Bitcoin Cash (BCH), the affordable alternative to Bitcoin, so let’s dive in. To begin with, Bitcoin Cash (BCH) is quite a controversial player in the crypto arena. In August of 2017, this coin burst onto the scene due to a hard fork from the original Bitcoin blockchain.  A hard fork refers to an event where a new blockchain is created from an already existing one. This gives birth to a new blockchain, thus resulting in two different versions of the same cryptocurrency. One of those chains has a longer history, and the other is new with a much shorter history. This is how Bitcoin Cash was created. But it wasn’t easy for Bitcoin enthusiasts to accept the new crypto created from the hard fork.  It was met with plenty of drama and controversy. The split was partly driven by a desire to address some of the scalability issues of Bitcoin, such as slow transaction processing times and high fees. But others viewed it as a controversial upstart, with detractors claiming that it is a centralized version of Bitcoin that undermines the very principles of decentralization which cryptocurrencies were founded upon.  But regardless of where you stand on the issue, its creation has sparked debates about the role of hard forks in the crypto space.  For all you investors, let’s dig a little deeper into the potential of Bitcoin Cash.

Bitcoin and Bitcoin Cash: The Similarities

Bitcoin Cash works similarly to Bitcoin, as it is based on the same blockchain technology.  At its core, the blockchain operates as a decentralized database of transactional records on a network. Therefore, as long as everyone on the network agrees to abide by the blockchain's database, the transactions on the network can be verified and confirmed by any node or computer connected to that network. This eliminates the need for banks and intermediaries that often do the work of validating transactions. Like Bitcoin, Bitcoin Cash transactions are processed by miners, who use their computing power to validate transactions and add them to the blockchain. You can think of miners as nothing more than computers connected to the Bitcoin Cash network with the responsibility of validating and confirming transactions. Each miner on the network gets randomly picked to validate a block of transactions, and once the transactions are confirmed and validated, that miner receives rewards in the form of BCH coins. Apart from technical aspects such as block size which we’ll discuss in a moment, Bitcoin Cash still retains most of the characteristics of its parent blockchain. You can think of BCH as the cheaper version of Bitcoin. Like Bitcoin, it has a total supply of 21 million coins, but Bitcoin is the more widely adopted cryptocurrency and has a larger user base compared to Bitcoin Cash.  However, BCH also has a large and dedicated following and is traded on most crypto exchanges alongside Bitcoin.

Bitcoin and Bitcoin Cash: The Differences

In terms of popularity, Bitcoin (referred to as both XBT and BTC) is currently the most well-known and widely used cryptocurrency, with a market capitalization of $545 billion as of this writing, as compared to around $2.46 billion USD for Bitcoin Cash (BCH).  That’s a pretty significant difference. Moreover, many more businesses and merchants accept Bitcoin as a form of payment compared to BCH.  When it comes to Bitcoin Cash and Bitcoin, there's one key difference that sets them apart - the block size.  Bitcoin Cash boasts an impressive block size of 32MB, which allows for lightning-fast transaction processing times and lower fees. This is a stark contrast to Bitcoin's smaller block size of 1.39MB, which can lead to slower transaction times and higher fees. You might be wondering - why does block size matter? Well, a larger block size enables more transactions to be processed at once, which can help to reduce congestion in the network and keep fees low. This is especially important as cryptocurrencies become more widely adopted and the demand for faster, cheaper transactions increases.

Why Would Anyone Want to Invest in Bitcoin Cash?

Bitcoin Cash offers several benefits that may appeal to different types of crypto investors and traders, but its future is difficult to predict.  It depends on various factors such as adoption, technological advancements, regulatory developments and market trends. A key factor that could impact the future of Bitcoin Cash is adoption, one of the key drivers of the success of any cryptocurrency.  BCH’s larger block size allows for faster transaction processing times and lower fees, and this makes BCH a useful option for merchants and online shoppers who need to make quick and low-cost transactions. Bitcoin Cash is also decentralized and borderless, thus making it ideal for sending and receiving money from anywhere in the world without intermediaries.  There are ongoing debates in the cryptocurrency community about the scalability of BCH and its long-term viability.  However, if Bitcoin Cash developers can continue to improve its scalability, security, and user experience, it could potentially increase its adoption and value.   Keep in mind, though, that there are many other cryptocurrencies that aim to be a fast and low-cost payment system.  If one or more of them become more popular, it could limit the potential of Bitcoin Cash.  And of course, there is always the unknown “government regulation” to consider when investing for the long-term. If the government adopts favorable regulations for cryptocurrencies, it could potentially increase their adoption and value, and conversely, if regulations are strict, it could limit growth and adoption. If governments adopt favorable regulations for cryptocurrencies, it could potentially increase their adoption and value. Conversely, if governments adopt strict regulations, it could limit their growth and adoption.

Conclusion

So, there you have it. On the plus side, Bitcoin Cash’s use case is a good one. Its larger block size allows for faster transaction processing times and lower fees compared to Bitcoin, but adoption is unpredictable for the long term.  And it was created as a fork of Bitcoin; therefore, it boasts all the features that make Bitcoin secure and reliable. What’s more, at its current price, it is one of the more affordable coins in the crypto space.  However, while it has a dedicated following and offers some advantages over Bitcoin, it faces stiff competition and possible regulatory challenges.   These are all important factors to consider when weighing the risks of investing in Bitcoin v. Bitcoin Cash, but whether you choose one or both, Coin IRA is here to make the process of establishing and funding your free account as simple and efficient as possible.
Fractional Metals available at Coin IRA

The 9 Advantages of Buying Fractional Metals

Coin IRA Introduces New Flex Metals Program

In the latest addition to our self-trading platform, Coin IRA account holders can now trade whole or fractional amounts of pure gold, silver and platinum in their Cryptocurrency IRAs, the same way you currently trade whole or fractional amounts of cryptocurrency. So whether you have a Tax-Advantaged Traditional, Roth, or SEP IRA, or an Individual Non-IRA Trading Account, you can now easily own precious metals alongside your cryptocurrencies in the same digital asset account. You might be asking why you’d want to own fractional metals in your Digital Asset IRA.  Well, we can think of 9 great reasons:
  1.  Affordability: Buying fractional metals allows individuals to invest in precious metals at a lower cost than purchasing a full bar or coin, without having to open a separate Precious Metals IRA, saving the fees and costs involved.
  1. Diversification: Fractional metals can be used to diversify a portfolio, reducing overall risk by spreading investments across different assets.
  1. Instant Liquidity: When selling fractional metals purchased inside your digital trading account, credit to your available trading balance is immediate.  There’s no waiting, so you can use your proceeds immediately for another trade or request a distribution.
  1. Convenience:  Fractional metals purchased in your account are 100% allocated to your account and are stored at Brinks, Salt Lake City, for easy management and convenience. There's no waiting for delivery or for your proceeds when you liquidate.
  1. Flexibility:  You don’t have to purchase in whole ounces or the sizes and weights of available minted coins. You are buying fractional ownership of large bullion bars, the most inexpensive bullion product, and you can buy as little as $10 worth of gold, silver, or platinum.
  1. Hedge against Inflation: Precious metals have historically held their value during times of economic uncertainty and inflation, providing a hedge against potential financial losses.
  1. Tangible Asset:  Fractional metals are tangible assets that are physically stored on your behalf in the most secure domestic vaults, offering a level of security in uncertain times, and complementing your virtual assets.
  1. Tax Benefits: You can trade in and out of precious metals without creating a taxable event until you take a withdrawal or distribution; and even better, metals owned in a Roth IRA grow tax-free, even at the point of withdrawal.
  1. Delivery Options: When you are ready to take a withdrawal from your account, there is an option to convert your whole ounce ownership of fractional metals to a minted product such as a 1oz American Eagle for physical delivery at a low cost. This way, you aren't paying the extra cost of a minted product unless you eventually want one.
Account holders are telling us we've made trading metals fast and simple! For any additional questions you might have, call Coin IRA Customer Support at 866-924-5421 or email customersupport@coinira.com.
Ripple XRP Cryptocurrency

SEC vs Ripple: XRP Update

Due to the filing of a lawsuit by the U.S. Securities and Exchange Commission (SEC) against Ripple Labs, Inc. in December of 2020, US residents have been unable to trade XRP tokens since January 30, 2021. But where do things currently stand, and when will we see a final ruling or settlement in in this case that will hopefully release the SEC’s grip on XRP? And why does a recent ruling in another crypto case (SEC vs LBRY) gives hope to the XRP community?

Where It All Started

Ripple Labs, Inc. is a fintech/crypto company that was founded in 2012 (it was originally called OpenCoin). They created the XRP token which had grown substantially through the years, well, until the SEC sued them. In December 2020, the U.S. SEC filed a case against Ripple Labs, Inc., Christian Larsen (co-founder and former CEO of Ripple), and Brad Garlinghouse (current Ripple CEO) for the lack of investment contract and for not registering their sales and offers of XRP tokens. According to them, this is a violation of registration rules outlined in the Securities Act of 1933.  Needless to say, the suit gave rise to doubts as to the future of XRP when crypto exchanges in the U.S. stopped trading XRP tokens over a year ago. The SEC has claimed that Ripple raised over one billion dollars from the sale of XRP which was not registered as a security offer to investors. Ripple, however, said that XRP is not a security and should not be treated as an investment. Furthermore, Ripple said that the SEC never gave them “fair notice” that their XRP token sales violated securities laws.

Where Things Stand

As the case heats up, the SEC recently asked for a Summary Judgment ruling as to whether XRP should be classified as a security or a commodity.  In response, the judge could grant either side a win without a trial, or decide to narrow the issues that go before a jury.  And most recently, Ripple Labs Inc. said in court papers Friday, March 3, 2023, that a recent U.S. Supreme Court decision supports one of its key defenses in the SEC's case. Ripple's General Counsel Stuart Alderoty has expressed his belief that they will win the case based on his assertion that not one single element of the Supreme Court's Howey Test has been adequately met by the SEC. They’re also saying that XRP is not an investment because it doesn't give investors voting rights or ownership rights as others do. Ripple's CEO has also expressed optimism that there will be a resolution either by settlement or judgment in Ripple's favor in the first half of 2023.

SEC vs LBRY: New Hope for Ripple’s XRP Community

LBRY was created to develop an open-source ecosystem, a decentralized media-sharing system. In 2016, LBRY launched its native currency LBC which could be used via the LBRY blockchain to share content, reward creators, and pay miners who supported the network. In March of 2021, SEC filed a lawsuit against LBRY declaring that the blockchain company was selling and offering LBC in the form of unregistered securities, thereby violating federal securities laws. In November of 2022, the SEC was successful in a court case against LBRY in which the court summary judgment favored SEC's claim that LBRY provided LBC as a security. However, this February, 2023, in the latest decision on the SEC vs LBRY case, the judge decided that the sales of the LBC token on the secondary market are not categorized as securities - which means that LBC is a non-security. This judgment could work in favor of Ripple, as the XRP community has come out to say that the ruling meant that XRP was also a non-security.

Will XRP Pass the Howey Test?

The debate over whether XRP can be considered a security has been going on since the cryptocurrency was first introduced in 2012. Again, based on the Howey Test, which the SEC uses to determine if an investment is security, the primary question is whether or not the profits earned from investing were “derived from the efforts of others.” As we all know, it’s not easy to tell how profits are earned from digital currencies because of their decentralized nature. Unlike stocks, cryptocurrencies are not backed by institutional bodies. Therefore, trying to correctly categorize investments in cryptocurrencies such as XRP is really quite difficult. Right now, the question of whether XRP constitutes a security or not remains debatable. Until the court releases its final verdict, only then will we know if U.S. regulators legally recognize this currency as security.

Is XRP a Commodity or a Security?

The U.S. Southern District Court of New York will soon decide how cryptocurrencies are regulated in the future, and it’s verdict will settle once and for all whether XRP could be classed as a commodity or security. Remember, the U.S. SEC has stated that Ripple has raised more than one billion dollars through the sales of unregistered security offerings. In defense, Ripple has cited previous statements made by the SEC itself which suggest that XRP is not a suitable candidate to be treated as a security mainly because of its decentralized nature as compared to other cryptos like Bitcoin (BTC) and Ethereum (ETH). In the event that the trial against Ripple is ruled unfavorably, this could lead to huge fines being imposed on other digital assets and weaken the confidence of investors in the entire crypto industry. The court's decision will also set new guidelines for what constitutes legally defined virtual assets and securities in the United States.

How Will the Verdict Affect the Crypto Market?

The lawsuit will likely be decided in 2023, but regardless of the outcome, it could create serious precedents for other cryptocurrencies too. If Ripple were to be found guilty, it could effectively make many investments in XRP unenforceable. Worse, this could also trigger more lawsuits against notable cryptocurrency-related businesses or products that could have carried out similar activities as those that are being alleged to Ripple. The SEC wants to regulate the crypto industry, so winning the court decision against Ripple could potentially start the ball rolling.  Ripple and its executives would also likely face a hefty fine. However, if Ripple wins, it will solidify XRP's legality in the US market and probably increase its price. The final outcome of this decision will either be encouraging or discouraging for the future of cryptocurrency investors. Whatever way the events develop, there is one thing that is certain: this ruling will result in significant changes across all areas of the cryptocurrency world. XRP was offered by Coin IRA prior to the SEC’s lawsuit against Ripple, and XRP is still on the Coin IRA Digital Asset Self-Trading Platform, but trading is inactive right now. If Ripple wins the case, trading will hopefully be reactivated on the platform, allowing our account holders to once again trade XRP.  If you are an XRP fan and want to be in a position to act quickly in the event the suspension is lifted, our suggestion is to keep a close eye on the news updates surrounding the case and make sure you keep an available balance for trading in your account as mid-2023 gets closer, so you are ready to pull the trigger if and when a favorable decision is made, and trading is restored. So, let’s cross our fingers, not only for the XRP community but also for the entire crypto industry. To learn more about Crypto IRAs, visit CoinIRA.com or speak with an expert at 888-998-COIN.




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