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Ethereum Classic IRA- A Split Of The Standard Ethereum

March 6, 2018

​Investing in your own retirement and your own future is extremely important, but for a lot of people, it’s not as easy as they would expect. That’s why it’s so important to look into your retirement options and start building from there.

A strong self-directed IRA could be the difference between a comfortable retirement and a less than ideal one. Therefore, to invest in cryptocurrency and blockchain technology is a good idea. But where do you start trading cryptocurrency?

With Ethereum Classic IRA you’ll actually be able to get something that works and that is convenient for you (plus, it’s a pretty unique option you’ll want to try out).

What is Your IRA?

Your IRA is an extremely important aspect of your plans for the future. When you start saving for retirement you can do it in one of many different ways, but one of the most common is through an Individual Retirement Account (IRA).

These accounts are available in several different forms, but they give you a way to put your money away and get some interest from it while you’re still younger so that when you get older and want to stop working you won’t have any problem doing it. With an IRA, you’ll definitely be better prepared than some when you do stop.

The key is making sure you find a way to invest that’s going to work for you. While some people choose to get into an IRA the traditional way, cryptocurrencies are starting to become a much more popular option.

More and more people are opting to try something new when it comes to their investments and that means they’re definitely creating a new market that will help them (and you) to profit. The fewer hands actually touch your money the better it’s going to be and with cryptocurrencies, you don’t have to worry about that because no one is going to touch your money.

What is Ethereum Classic?

You may have heard of Bitcoin or Bitcoin IRA and maybe even some of the other cryptocurrencies that are starting to gain some popularity, but you may not have heard of this one. Ethereum Classic is a split of the standard Ethereum, which was susceptible to a number of problems when it was first created.

The Classic version was designed to try and combat some of those problems and improve the overall security of the system. It ended up with a range of great features that are very similar (if not exactly the same) to the regular form of Ethereum.

With Ethereum Classic you’re getting a decentralized system, which makes it less susceptible to problems in the future. You’re also getting a system of the same size and with the same reward and average block time as standard Ethereum, which were some of the features that people really liked about them.

With this type of coin, you’re not getting anything physical, like a dollar bill. The ‘coins’ are actually a form of digital currency, so you have a number on your computer or phone that tells you how many coins or units you have, rather than physical money to count.

The system runs something called ‘smart contracts’ which are applications that you use for exchanging money back and forth or even exchanging property or shares. Basically, anything that has some value to it can be exchanged using one of these types of systems.

They’re also exchanged much easier and more simply because it’s entirely transparent (which is something people on both sides of the transaction really like) and it has fewer conflicts than most of the other options you’re going to find for transactions, whether online or in person.

What’s unique about this system over other types of cryptocurrency is that it’s not just a cryptocurrency. Those smart contracts actually make it completely unique and allow the system to be used for a range of different types of transactions as well.

Even companies and events that sell tickets are trying to use this system in order to streamline the ticket purchasing process while also keeping out bots or those who are trying to get tickets for their own personal gain. By using Ethereum Classic it’s actually possible to reduce the problems that they face normally and make sure that the people getting the tickets are the ones who are going to use them instead.

Ethereum Classic for Your IRA

Ethereum Classic IRA

If you’re still working on just how to improve your retirement account and start investing in your own future then it’s important to consider all of your options.

Ethereum Classic is one of those options and you may be surprised at just how well it can work for you. Because it’s an entirely digital system it’s much simpler to operate than a lot of the trading, buying and selling that you’ve probably heard about for investing. You don’t have to worry about a lot of the details and the complicated aspects of the process.

When you set up your IRA you want to make sure it’s going to bring in a decent amount of money and that it’s going to do it without you needing to put in too much work, right? Well, a lot of people are looking to cut down on their involvement with a lot of the investment process.

With cryptocurrencies you’re going to have a whole lot of benefits and a lot less of the work, so you’re definitely going to notice the returns. There’s no reason not to start an IRA and definitely no reason to put off investing in cryptocurrency.

No matter what you’re planning to do it’s important to look at several different IRA options and even different cryptocurrency options. If you take a look at each of these choices you’ll definitely find something you can invest with and start working towards your future with.

There are only set amounts of any cryptocurrency available, which helps to secure your money and make sure that you’re getting something you can count on in your future. There’s no reason to try and decrypt the stock markets or anything else while you’re trying to plan for retirement.

About the author 


Tom is a former accountant turned entrepreneur. He is not a financial adviser but does tend to give a lot of financial advice to his friends and colleagues. He currently runs a small online venture and blogs about his research and experiences.

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