Revolutionizing the American Shopping Experience
Satsback Labs, the company behind the successful European Bitcoin-back shopping rewards platform, Satsback.com, is expanding its services to the United States market, as announced in a recent press release shared with Bitcoin Magazine.
With a strong network of over 500 online partners already in place, Satsback.com aims to transform how Americans shop online by offering them the opportunity to save in Bitcoin while purchasing their essential items.
Having already established its presence in 16 countries, Satsback.com is now introducing its Bitcoin-back shopping model to the American audience. The platform aims to empower consumers by redirecting advertising budgets directly into their Bitcoin wallets, enabling them to save in sound money while helping merchants attract new customers and increase their revenues.
According to Satsback Labs CEO Tom Chojnacki, "Bitcoin fixes many things, but being able to buy it is a luxury reserved for a shrinking minority of people with disposable income. This is a big problem even in developed countries like the US where household debt is at an all-time high. We're thrilled to provide US consumers with more ways to save in Bitcoin even if their budgets don't allow for them to purchase it."
Earning Bitcoin While Shopping Online
Users can now earn Bitcoin on their purchases made through the Satsback.com platform from a wide range of online stores in the US, including popular brands like Macy's, The Home Depot, Booking.com, and many others. By simply selecting their desired store, following the provided links, and making their purchases as usual, customers will receive a percentage of the amount they spent back in BTC, which will be delivered to their Lightning wallet of choice.
In addition, Satsback.com offers a user-friendly browser extension that is compatible with Chrome, Firefox, and Safari. This extension ensures that users never miss an opportunity to accumulate Bitcoin back on their purchases by alerting them when they visit partnered online stores.
Joining the Bitcoin Movement
Satsback.com invites US shoppers to join the Bitcoin movement and transform their shopping experience into an empowering one. By opting for Bitcoin rewards, users can say goodbye to traditional point and fiat-back systems, embracing financial autonomy and signaling their values to merchants.
With its expansion into the United States market, Satsback.com aims to revolutionize the American shopping landscape by providing consumers with the opportunity to save in Bitcoin while shopping online for their everyday needs. By offering a wide range of online partners and a user-friendly browser extension, Satsback.com is making it easier than ever for US shoppers to earn Bitcoin rewards and embrace the future of finance.
Frequently Asked Questions
What are the fees associated with an IRA for gold?
$6 per month is the Individual Retirement Account Fee (IRA). This fee covers account maintenance fees, as well any investment costs that may be associated with your investments.
If you want to diversify, you may be required to pay extra fees. The fees you pay will vary depending on the type of IRA that you choose. Some companies offer free checking accounts, but charge monthly fees to open IRA accounts.
Many providers also charge annual management fees. These fees range from 0% to 1%. The average rate is.25% annually. However, these rates are typically waived if you use a broker like TD Ameritrade.
How does a gold IRA account work?
You can buy physical gold bullion coins at any time. You don't have to wait until retirement to start investing in gold.
An IRA lets you keep your gold for life. Your gold holdings will not be subject to tax when you are gone.
Your gold is passed to your heirs without capital gains tax. You don't need to include your gold in your final estate report, as it isn't part of the estate.
First, an individual retirement account will be set up to allow you to open a golden IRA. After you do this, you will be granted an IRA custodian. This company acts as an intermediary between you and IRS.
Your gold IRA custody will take care of the paperwork and send the forms to IRS. This includes filing annual returns.
After you have established your gold IRA you will be able purchase gold bullion coin. The minimum deposit required to purchase gold bullion coins is $1,000 You'll get a higher rate of interest if you deposit more.
Taxes will be charged on gold you have withdrawn from an IRA. If you are withdrawing your entire balance, you will owe income tax plus a 10% penalty.
However, if you only take out a small percentage, you may not have to pay taxes. However, there are some exceptions. You'll owe federal income tax and a 20% penalty if you take out more than 30% of your total IRA assets.
It is best to not take out more than 50% annually of your total IRA assets. If you do, you could face severe financial consequences.
What precious metals could you invest in to retire?
The best precious metal investments are gold and silver. They are both easy to trade and have been around for years. You should add them to your portfolio if you are looking to diversify.
Gold: One of the oldest forms of currency, gold, is one of mankind's most valuable. It is stable and very secure. It's a great way to protect wealth in times of uncertainty.
Silver: Silver is a popular investment choice. It is an excellent choice for investors who wish to avoid volatility. Silver, unlike gold, tends not to go down but up.
Platinium is another precious metal that is becoming increasingly popular. It is very durable and resistant against corrosion, much like silver and gold. It's also more expensive than the other two.
Rhodium. Rhodium is used as a catalyst. It is also used as a jewelry material. It's also relatively inexpensive compared to other precious metals.
Palladium: Palladium is similar to platinum, but it's less rare. It is also cheaper. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
How can I withdraw from a Precious metal IRA?
First, determine if you would like to withdraw money directly from an IRA. Then make sure you have enough cash to cover any fees or penalties that may come with withdrawing funds from your retirement plan.
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. This option will require you to pay taxes on the amount that you withdraw.
Next, determine how much money you plan to withdraw from your IRA. This calculation will depend on many factors including your age at the time of withdrawal, how long the account has been in your possession, and whether you plan to continue contributing towards your retirement plan.
Once you know what percentage of your total savings you'd like to convert into cash, you'll need to determine which type of IRA you want to use. Traditional IRAs permit you to withdraw your funds tax-free once you turn 59 1/2. Roth IRAs have income taxes upfront, but you can access the earnings later on without paying additional taxes.
Once you have completed these calculations, you need to open your brokerage account. Most brokers offer free signup bonuses and other promotions to entice people to open accounts. To avoid unnecessary fees, however, try opening an account using a debit card rather than a credit card.
When it's time to make withdrawals from your precious-metal IRA, you'll need a place to keep your coins safe. Some storage areas will accept bullion, while others require you to purchase individual coins. Before you choose one, weigh the pros and cons.
Bullion bars, for example, require less space as you're not dealing with individual coins. However, you'll need to count every coin individually. On the flip side, storing individual coins allows you to easily track their value.
Some prefer to store their coins in a vault. Some people prefer to store their coins safely in a vault. You can still enjoy the benefits of bullion for many years, regardless of which method you choose.
Can I have physical gold in my IRA
Gold is money, not just paper currency or coinage. It is an asset that people have used over thousands of years as money, and a way to protect wealth from inflation and economic uncertainties. Investors today use gold to diversify their portfolios because gold is more resilient to financial turmoil.
Today, Americans prefer precious metals like silver and gold to stocks and bonds. It is possible to make money by investing in gold. However, it doesn't guarantee that you'll make a lot of money.
One reason is that gold historically performs better than other assets during financial panics. The S&P 500 dropped 21 percent in the same time period, while gold prices rose by nearly 100 percent between August 2011-early 2013. During turbulent market conditions gold was one of few assets that outperformed stock prices.
One of the best things about investing in gold is its virtually zero counterparty risk. Your stock portfolio can fall, but you will still own your shares. You can still own your gold even if the company where you invested fails to pay its debt.
Finally, gold is liquid. This means that you can sell gold anytime, regardless of whether or not another buyer is available. You can buy gold in small amounts because it is so liquid. This allows for you to benefit from the short-term fluctuations of the gold market.
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (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)
- 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)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement plans
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Do you want to keep your IRA gold at home? It's not exactly legal – WSJ
3 Ways To Invest in Gold For Retirement
It's crucial to understand where gold fits in your retirement strategy. You can invest in gold through your 401(k), if you have one at work. You may also be interested in investing in gold beyond your workplace. A custodial account can be opened by a brokerage firm like Fidelity Investments if you already have an IRA. Or, if you don't already own any precious metals, you may want to consider buying them directly from a reputable dealer.
These are the rules for gold investing:
- Buy Gold with Your Money – You don't need credit cards, or to borrow money to finance your investments. Instead, instead, transfer cash to your accounts. This will protect your against inflation and increase your purchasing power.
- Physical Gold Coins You Should Buy – Physical gold coins should be purchased over a paper certificate. It's easier to sell physical gold coins rather than certificates. There are no storage fees for physical gold coins.
- Diversify Your Portfolio. Never place all your eggs in the same basket. Also, diversify your wealth and invest in different assets. This can reduce market volatility and help you be more flexible.
By: Nik Hoffman
Title: Bitcoin Back Rewards Platform Satsback Launches in the United States for Online Shoppers
Sourced From: bitcoinmagazine.com/business/bitcoin-back-rewards-platform-satsback-launches-in-the-united-states-for-online-shoppers
Published Date: Fri, 22 Dec 2023 16:14:30 GMT