Alchemy Pay's Integration with Bitcoin.com Expands Fiat-Crypto Services
Alchemy Pay, a leading global provider of fiat-crypto payment solutions, has announced the deployment of its on-ramp payment services on Bitcoin.com's web portal. This strategic integration allows users to seamlessly transition between fiat and cryptocurrencies, providing access to a diverse range of digital assets, including Bitcoin.com's VERSE token. The introduction of Alchemy Pay's local payment methods will significantly expand Bitcoin.com's reach and enhance its user experience.
Bitcoin.com Prioritizes User-Centric Solutions
Bitcoin.com CEO Dennis Jarvis expressed his enthusiasm for the collaboration, stating, "At Bitcoin.com, we're always at the forefront of user-centric solutions. Alchemy Pay's integration brings a seamless fiat-crypto transition with an expanded range of local payment options – something that is especially crucial for our users in Asia and LATAM. As the 2024 Bitcoin halving nears, this partnership underscores our commitment to remain ahead of the curve, always prioritizing our community's needs."
Alchemy Pay: Empowering Global Fiat-Crypto Transactions
Alchemy Pay's payment gateway offers a comprehensive suite of payment options, including Visa, Mastercard, Discover, and Diners Club, across 173 countries. In addition to traditional card payments, Alchemy Pay supports domestic transfers and mobile wallets in developing markets, catering to a broader user base. With its user-friendly KYC process, competitive fees, and exceptional conversion rates, Alchemy Pay simplifies the process of buying and selling cryptocurrencies with local currencies, providing a seamless online payment experience. The company's extensive network encompasses over 300 fiat payment channels, enabling users to tap into local mobile wallet options.
Alchemy Pay: A Pioneer in the Crypto Industry
Established in Singapore in 2017, Alchemy Pay has positioned itself as a trailblazer in the crypto industry, offering innovative solutions such as its On & Off-Ramp solution, NFT Checkout, and white label Crypto Cards for platforms. The company's collaboration with Bitcoin.com further solidifies its commitment to making cryptocurrency more accessible globally, leveraging Bitcoin.com's prominent position in the market.
Bitcoin.com: Simplifying Crypto for All
Bitcoin.com has been a global leader since 2015, dedicated to introducing newcomers to the world of cryptocurrencies. The platform facilitates easy buying, spending, trading, investing, earning, and staying up-to-date on cryptocurrency and the future of finance. With its multichain digital wallet app, used by millions worldwide, Bitcoin.com provides a self-custodial solution that enables economic freedom. Users can perform various transactions, including buying, selling, trading, earning, using, and learning about Bitcoin and other digital assets, all within one secure digital wallet.
About VERSE: Bitcoin.com's Rewards and Utility Token
VERSE, Bitcoin.com's rewards and utility token, was launched in December 2022. This token offers various utilities within the Bitcoin.com ecosystem, including unlocking rewards, serving as a method of payment, providing access to exclusive platform services, and more. VERSE token holders can also leverage Bitcoin.com's decentralized exchange, Verse DEX, to swap cryptocurrencies without relying on third-party custodians. Additionally, users can earn yield by providing liquidity and staking VERSE tokens.
Alchemy Pay On & Off-Ramp Integration
Web3 developers and dApp creators interested in integrating Alchemy Pay's on-ramp and off-ramp solutions can contact the company via its website at https://alchemypay.org/contact.
Stay Connected with Alchemy Pay
For more information about Alchemy Pay, visit the company's official website and follow them on Twitter, LinkedIn, Medium, YouTube, Telegram, and Discord.
Disclaimer: This is a press release. Readers should conduct their own research and due diligence before making any decisions related to the promoted company, its affiliates, or services. Bitcoin.com assumes no responsibility, directly or indirectly, for any damages or losses caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in this press release.
Frequently Asked Questions
How do I open a Precious Metal IRA
First, decide if an Individual Retirement Account is right for you. If you do, you must open the account by completing Form 8606. You will then need to complete Form 5204 in order to determine which type IRA you are eligible. This form must be submitted within 60 days of the account opening. Once this is done, you can start investing. You could also opt to make a contribution directly from your paycheck by using payroll deduction.
For a Roth IRA you will need to complete Form 8903. Otherwise, the process will be identical to an ordinary IRA.
To qualify for a precious Metals IRA, there are specific requirements. You must be at least 18 years of age and have earned income to qualify for a precious metals IRA. You can't earn more than $110,000 per annum ($220,000 in married filing jointly) for any given tax year. You must also contribute regularly. These rules apply to contributions made directly or through employer sponsorship.
You can use a precious metals IRA to invest in gold, silver, palladium, platinum, rhodium, or even platinum. You can only purchase bullion in physical form. This means you won't be allowed to trade shares of stock or bonds.
You can also use your precious metallics IRA to invest in companies that deal with precious metals. This option is available from some IRA providers.
There are two major drawbacks to investing via an IRA in precious metals. They aren't as liquid as bonds or stocks. It's also more difficult to sell them when they are needed. Second, they don't generate dividends like stocks and bonds. So, you'll lose money over time rather than gain it.
How do I Withdraw from an IRA with Precious Metals?
First decide if your IRA account allows you to withdraw funds. Next, ensure you have enough cash on hand to pay any penalties or fees that could be associated with withdrawing funds.
Consider opening a taxable brokerage instead of an IRA if it is possible to pay a penalty if your withdrawal is made before the deadline. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, you'll need to figure out how much money you will take out of your IRA. The calculation is influenced by several factors such as your age at withdrawal, the length of time you have owned the account and whether or not you plan to continue contributing to retirement plans.
Once you know how much of your total savings to convert to cash, it's time to choose the type of IRA that you want. Traditional IRAs let you withdraw money tax-free after you turn 59 1/2, while Roth IRAs require you to pay income taxes upfront but allow you access the earnings later without paying any additional taxes.
After these calculations have been completed, you will need to open a brokerage bank account. Many brokers offer signup bonuses or other promotions to encourage people to open accounts. It is better to open an account with a debit than a creditcard in order to avoid any unnecessary fees.
When you finally get around to making withdrawals from your precious metal IRA, you'll need a safe place where you can store your coins. Some storage areas will accept bullion, while others require you to purchase individual coins. Before choosing one, consider the pros and disadvantages of each.
Bullion bars are easier to store than individual coins. But, each coin must be counted separately. However, individual coins can be stored to make it easy to track their value.
Some prefer to keep their money in a vault. Some people prefer to store their coins safely in a vault. Whichever method you choose, make sure you store your bullion safely so you can enjoy its benefits for years to come.
Is gold a good choice for an investment IRA?
If you are looking for a way to save money, gold is a great investment. It can be used to diversify your portfolio. But gold has more to it than meets the eyes.
It has been used throughout history as currency and it is still a very popular method of payment. It's often referred to as “the world's oldest currency.”
But gold is mined from the earth, unlike paper currencies that governments create. That makes it very valuable because it's rare and hard to create.
The supply and demand for gold determine the price of gold. The strength of the economy means people spend more, and so, there is less demand for gold. The value of gold rises as a consequence.
The flip side is that people tend to save money when the economy slows. This increases the production of gold, which in turn drives down its value.
This is why both individuals as well as businesses can benefit from investing in gold. If you make an investment in gold, you can reap the economic benefits whenever the economy is growing.
In addition to earning interest on your investments, this will allow you to grow your wealth. In addition, you won’t lose any money if gold falls in value.
Can I buy gold with my self-directed IRA?
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. You can also transfer funds from an existing retirement fund.
The IRS allows individuals to contribute as high as $5,500 ($6,500 if they are married and jointly) to a traditional IRA. Individuals may contribute up to $1,000 ($2,000 if married, filing jointly) directly into a Roth IRA.
If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts can be described as financial instruments that are determined by the gold price. These financial instruments allow you to speculate about future prices without actually owning the metal. However, physical bullion is real gold or silver bars you can hold in your hands.
What amount should I invest in my Roth IRA?
Roth IRAs are retirement accounts where you deposit your own money tax-free. You cannot withdraw funds from these accounts until you reach 59 1/2. There are some rules that you need to keep in mind if you want to withdraw funds from these accounts before you reach 59 1/2. First, you can't touch your principal (the initial amount that was deposited). This means that you can't take out more money than you originally contributed. If you wish to withdraw more than you originally contributed, you will have to pay taxes.
The second rule is that you cannot withdraw your earnings without paying income taxes. When you withdraw, you will have to pay income tax. Consider, for instance, that you contribute $5,000 per year to your Roth IRA. Let's further assume you earn $10,000 annually after contributing. This would mean that you would have to pay $3,500 in federal income tax. So you would only have $6,500 left. The amount you can withdraw is limited to the original contribution.
Therefore, even if you take $4,000 out of your earnings you still owe taxes on $1,500. In addition, 50% of your earnings will be subject to tax again (half of 40%). So, even though you ended up with $7,000 in your Roth IRA, you only got back $4,000.
Two types of Roth IRAs are available: Roth and traditional. A traditional IRA allows for you to deduct pretax contributions of your taxable income. Your traditional IRA can be used to withdraw your balance and interest when you are retired. You can withdraw as much as you want from a traditional IRA.
Roth IRAs are not allowed to allow you deductions for contributions. You can withdraw your entire contribution, plus accrued interests, after you retire. There is no minimum withdrawal required, unlike a traditional IRA. Your contribution can be withdrawn at any age, not just when you reach 70 1/2.
How much of your IRA should include precious metals?
It's important to understand that precious metals aren't only for wealthy people. You don't have to be rich to invest in them. There are many ways to make money on silver and gold investments without spending too much.
You might think about buying physical coins such a bullion bar or round. Stocks in companies that produce precious materials could be purchased. Or, you might want to take advantage of an IRA rollover program offered by your retirement plan provider.
You will still reap the benefits of owning precious metals, regardless of which option you choose. Even though they aren't stocks, they still offer the possibility of long-term growth.
And unlike traditional investments, they tend to increase in value over time. You'll probably make more money if your investment is sold down the line than traditional investments.
Statistics
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
irs.gov
bbb.org
cftc.gov
forbes.com
How To
Online buying gold and silver is the best way to purchase it.
To buy gold, you must first understand how it works. Gold is a precious metallic similar to Platinum. It's very rare and is used as money because of its durability and resistance to corrosion. It's hard to use, so most people prefer buying jewelry made out of it to actual bars of gold.
There are two types of gold coins available today – one type is legal tender, while the other is called bullion. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coins are minted for investment purposes only, and their values increase over time due to inflation.
They aren't circulated in any currency exchange systems. For example, a person who buys $100 worth or gold gets 100 grams. This gold has a $100 price. Every dollar spent on gold purchases, the buyer receives one gram of gold.
When you are looking to purchase gold, the next thing to know is where to get it. There are several options available if your goal is to purchase gold from a dealer. First off, you can go through your local coin shop. You can also go to a reputable website such as eBay. Finally, you can look into purchasing gold through private sellers online.
Individuals who sell gold at wholesale and retail prices are called private sellers. When selling gold through private sellers, you pay a commission fee of 10% to 15% per transaction. This means that you will get less back from a private seller than if you sell it through a coin shop or on eBay. This option is often a great choice for investing gold as it allows you more control over its price.
Another option for buying gold is to invest in physical gold. You can store physical gold much more easily than you can with paper certificates. However, it still needs to be safe. To ensure that your physical gold remains safe, you need to secure it in an impenetrable container such as a vault or safety deposit box.
You can either visit a bank, pawnshop or bank to buy gold. A bank will provide you with a loan that allows you to purchase the amount of gold you desire. Small establishments that allow customers to borrow money for items they have brought are called pawnshops. Banks charge higher interest rates than those offered by pawn shops.
A third way to buy gold? Simply ask someone else! Selling gold is simple too. You can contact a company like GoldMoney.com to set up an account and receive payments right away.
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By: Media
Title: Alchemy Pay Deploys on Bitcoin.com as Global On-Ramp Provider
Sourced From: news.bitcoin.com/alchemy-pay-deploys-on-bitcoin-com-as-global-on-ramp-provider/
Published Date: Thu, 18 Jan 2024 12:00:53 +0000
