Altify, a new alternative investment platform, has been launched in South Africa through a collaboration between two local crypto exchange platforms, Revix and Bitfund, and an Austria-based digital asset platform. The aim of Altify is to provide South African investors, especially the younger ones, with access to alternative investment opportunities that were traditionally reserved for large institutions and the ultra-wealthy.
A New Entity Headquartered in London
With the merger of Revix, Bitfund, and the Austrian digital asset platform, Altify has emerged as a new entity in the alternative investment space. The founder of Revix, Sean Sanders, has been named the CEO of Altify, which is headquartered in London, UK.
Opening Up Alternative Investment Opportunities
Altify's primary goal is to democratize alternative investments by offering opportunities in private credit (private debt), venture capital, real estate, crypto assets, and collectibles to everyday investors. The platform aims to break the perception that only individuals in their 60s should invest in alternative assets.
Expanding Investment Reach
According to Sean Sanders, Altify not only solidifies its position in the South African market but also expands its investment reach. The CEO envisions Altify as the go-to alternative investment platform not just in South Africa but also across the larger Europe, Middle East, and Africa (EMEA) region.
Support from Shareholders and Angel Investors
The merger transaction that led to the creation of Altify received support from the shareholders of the three companies involved. Notable shareholders include Sabvest, CVVC, Founders Factory, Emurgo, High-Tech Gründerfonds, and Calm/Storm Ventures. Additionally, angel investors Frank Westermann and Johann "Hansi" Hansmann also expressed their support for the merger.
Altify, the new alternative investment platform, aims to empower South African investors, particularly the younger generation, by providing access to a wide range of alternative investment opportunities. With the merger of Revix, Bitfund, and an Austrian digital asset platform, Altify is well-positioned to revolutionize the alternative investment landscape in South Africa and beyond.
Frequently Asked Questions
What should I pay into my Roth IRA
Roth IRAs let you save tax on retirement by allowing you to deposit your own money. These accounts are not allowed to be withdrawn before the age of 59 1/2. However, if your goal is to withdraw funds before that time, there are certain rules you must observe. First, you cannot touch your principal (the original amount deposited). No matter how much money you contribute, you cannot take out more than was originally deposited to the account. If you decide to withdraw more money than what you contributed initially, you will need to pay taxes.
You cannot withhold your earnings from income taxes. Withdrawing your earnings will result in you paying taxes. For example, let's say that you contribute $5,000 to your Roth IRA every year. In addition, let's assume you earn $10,000 per year after contributing. You would owe $3,500 in federal income taxes on the earnings. So you would only have $6,500 left. The amount you can withdraw is limited to the original contribution.
The $4,000 you take out of your earnings would be subject to taxes. You'd still owe $1,500 in taxes. 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.
There are two types of Roth IRAs: Traditional and Roth. Traditional IRAs allow pre-tax contributions to be deducted from your taxable tax income. You can withdraw your contributions plus interest from your traditional IRA when you retire. You have the option to withdraw any amount from a traditional IRA.
Roth IRAs don't allow you deduct contributions. Once you are retired, however, you may withdraw all of your contributions plus accrued interest. There is no minimum withdrawal requirement, unlike traditional IRAs. You don’t have to wait for your turn 70 1/2 years before you can withdraw your contributions.
What are the advantages of a gold IRA
It is best to put your retirement money in an Individual Retirement Account (IRA). You can withdraw it at any time, but it is tax-deferred. You can decide how much money you withdraw each year. There are many types and types of IRAs. Some are more suitable for students who wish to save money for college. Others are intended for investors seeking higher returns. Roth IRAs let individuals contribute after age 591/2 and pay tax on any earnings at retirement. But once they start withdrawing funds, those earnings aren't taxed again. This type of account might be a good choice if your goal is to retire early.
An IRA with a gold status is like any other IRA because you can put money into different asset classes. Unlike a regular IRA where you pay taxes on gains, a gold IRA doesn't require you to worry about taxation while you wait to get them. People who prefer to save their money and invest it instead of spending it are well-suited for gold IRAs.
Another benefit to owning IRA gold is the ability to withdraw automatically. This eliminates the need to constantly make deposits. To ensure that you never miss a payment, you could set up direct debits.
Gold is one of today's most safest investments. It is not tied to any country so its value tends stay steady. Even in times of economic turmoil gold prices tend to remain stable. Therefore, gold is often considered a good investment to protect your savings against inflation.
What is a Precious Metal IRA, and how can you get one?
An IRA with precious metals allows you to diversify retirement savings into gold and silver, palladium, rhodiums, iridiums, osmium, or other rare metals. These rare metals are often called “precious” as they are very difficult to find and highly valuable. They are great investments for your money, and they can protect you from inflation or economic instability.
Bullion can be purchased via a variety of channels including online sellers, large coin dealers, and grocery stores.
With a precious metal IRA, you invest in bullion directly rather than purchasing shares of stock. This allows you to receive dividends every year.
Precious metal IRAs have no paperwork or annual fees. Instead, you pay a small percentage tax on the gains. Plus, you get free access to your funds whenever you want.
Is gold a good choice for an investment IRA?
Gold is an excellent investment for any person who wants to save money. It is also an excellent way to diversify you 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 is often called “the most ancient currency in the universe.”
But gold, unlike paper currency, which is created by governments, is mined out from the ground. This makes it highly valuable as it is hard and rare to produce.
Gold prices fluctuate based on demand and supply. When the economy is strong, people tend to spend more money, which means fewer people mine gold. The value of gold rises as a consequence.
On the other hand, people will save cash when the economy slows and not spend it. This results in more gold being produced, which drives down its value.
This is why investing in gold makes sense for individuals and businesses. You'll reap the benefits of investing in gold when the economy grows.
Your investments will also generate interest, which can help you increase your wealth. Additionally, you won't lose cash if the gold price falls.
Should You Open a Precious Metal IRA?
You should be aware that precious metals cannot be covered by insurance. If you lose money in your investment, nothing can be done to recover it. This includes investments that have been damaged by fire, flooding, theft, and so on.
Protect yourself against this type of loss by investing in physical gold or silver coins. These items have been around for thousands of years and represent real value that cannot be lost. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.
If you decide to open an IRA account, choose a reputable company that offers competitive rates and products. A third-party custodian is a good option. They will protect your assets while giving you easy access whenever you need them.
Do not open an account unless you're ready to retire. Remember the future.
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- (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)
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement funds
A rising trend in gold IRAs
As investors seek to diversify their portfolios while protecting themselves from inflation, the trend towards gold IRAs is on the rise.
The gold IRA allows investors to purchase physical gold bars and bullion. It can be used as a tax-free way to grow and it is an alternative investment option for people who are not comfortable with stocks or bonds.
A gold IRA allows investors to manage their assets without worrying about market volatility. They can use the gold IRA to protect themselves against inflation and other potential problems.
Investors also get the unique benefits of owning physical Gold, including its durability, portability, flexibility, and divisibility.
Additionally, the gold IRA has many benefits. It allows you to quickly transfer your gold ownership to your heirs. The IRS doesn't consider gold a commodity or currency.
This means that investors who are looking for financial safety and security are becoming more interested in the gold IRA.
By: Terence Zimwara
Title: Altify: A New Alternative Investment Platform Launched in South Africa
Sourced From: news.bitcoin.com/south-african-crypto-exchanges-revix-and-bitfund-merge-with-austrian-digital-asset-platform/
Published Date: Sun, 03 Dec 2023 08:30:08 +0000