Introduction
Bitcoin.com, a global leader in introducing newcomers to cryptocurrency, has announced an exciting partnership with Hummingbot to launch an innovative campaign on KuCoin. The campaign aims to enhance liquidity and trading volumes for the VERSE/USDT trading pair on the exchange. As part of this collaboration, a total of $15,000 worth of Bitcoin.com's ecosystem token, VERSE, will be distributed to participants over a 12-week period.
Enhancing Liquidity with Hummingbot
Bitcoin.com has joined forces with Hummingbot, a renowned open-source market making bot, to execute this strategic campaign. The campaign revolves around Hummingbot's Liquidity Miner platform, which incentivizes market makers and the Hummingbot community for their market-making services on centralized exchanges. By doing so, the campaign aims to facilitate a more decentralized market-making process.
Rewards and Participation
The campaign will commence on October 24, 2023, and run for a period of 12 weeks. Participants will have the opportunity to earn rewards by utilizing Hummingbot's open-source code to set up bots for market making. A total of $15,000 worth of VERSE will be distributed over the course of the program, with $1,250 worth of VERSE available per week.
Democratizing High-Frequency Trading
Bitcoin.com was attracted to Hummingbot's mission to "democratize high-frequency trading." Traditionally, market-making and high-frequency trading have only been accessible to wealthy individuals or businesses. However, Bitcoin.com and Hummingbot aim to level the playing field and provide equal opportunities to all participants. By enhancing liquidity and trading volume of the VERSE token, Bitcoin.com and Hummingbot contribute to greater economic freedom.
About Bitcoin.com
Bitcoin.com is a leading global platform that strives to provide everyday people with access to a wide range of opportunities for personal prosperity through cryptocurrency. Since 2015, Bitcoin.com has been at the forefront of introducing newcomers to the world of digital currency. The platform offers educational resources, timely news, and user-friendly products for buying, spending, trading, investing, and earning with crypto.
About Verse
VERSE is the rewards and utility token within the Bitcoin.com ecosystem. It is designed to expand access to decentralized finance and promote economic freedom. Launched in December 2022, VERSE has gained significant integration into web3 platforms, as demonstrated by various partnerships and integrations in August and September.
About Hummingbot
Hummingbot is a premier open-source market-making bot that champions accessibility and inclusivity in liquidity provisions. Since its open-source release in 2019, Hummingbot has become a popular choice among token projects, small trading firms, and individual traders. It offers a comprehensive suite of tools for creating, backtesting, deploying, and managing automated trading strategies.
Conclusion
The partnership between Bitcoin.com and Hummingbot marks a significant step towards enhancing liquidity and trading volumes for the VERSE/USDT trading pair on KuCoin. By incentivizing market makers and leveraging Hummingbot's open-source code, the campaign aims to create a more decentralized market-making process. This collaboration aligns with Bitcoin.com's mission to provide economic freedom and accessibility to cryptocurrency for individuals worldwide. Participants are encouraged to seize this opportunity and contribute to the growth of the VERSE token and the broader decentralized finance ecosystem.
Frequently Asked Questions
How much gold should you have in your portfolio?
The amount of capital required will affect the amount you make. If you want to start small, then $5k-$10k would be great. As your business grows, you might consider renting out office space or desks. This will allow you to pay rent monthly, and not worry about it all at once. Only one month's rent is required.
You also need to consider what type of business you will run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. If you are doing this type of thing, it is important to think about how much you can expect from each client.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. Therefore, you might only get paid one time every six months.
You need to determine what kind or income you want before you decide how much of it you will need.
I recommend starting with $1k-$2k of gold and growing from there.
Is physical gold allowed in an IRA.
Gold is money, not just paper currency or coinage. Gold is an asset people have used for thousands years as a place to store value and protect their wealth from economic uncertainty and inflation. Today, investors invest in gold as part a diversified portfolio. This is because gold tends do better in financial turmoil.
Many Americans today prefer to invest in precious metals, such as silver and gold, over stocks and bonds. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.
Gold has historically performed better during financial panics than other assets. Between August 2011 and early 2013 gold prices soared nearly 100 percent, while the S&P 500 plunged 21 percent. During these turbulent market times, gold was among few assets that outperformed the stocks.
Gold is one of the few assets that has virtually no counterparty risks. You still have your shares even if your stock portfolio falls. You can still own your gold even if the company where you invested fails to pay its debt.
Finally, gold is liquid. This means you can easily sell your gold any time, unlike other investments. The liquidity of gold makes it a good investment. This allows you take advantage of the short-term fluctuations that occur in the gold markets.
What is the best precious-metal to invest?
This depends on what risk you are willing take and what kind of return you desire. Gold is a traditional haven investment. However, it is not always the most profitable. You might not want to invest in gold if you're looking for quick returns. You should invest in silver if you have the patience and time.
If you don’t want to be rich fast, gold might be the right choice. Silver may be a better option for investors who want long-term steady returns.
What is a Precious Metal IRA?
An IRA with precious metals allows you to diversify retirement savings into gold and silver, palladium, rhodiums, iridiums, osmium, or other rare metals. These precious metals are extremely rare and valuable. They make excellent investments for your money and help you protect your future from inflation and economic instability.
Bullion is often used to refer to precious metals. Bullion refers simply to the physical metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as some grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. This allows you to receive dividends every year.
Precious metal IRAs do not require paperwork nor annual fees, unlike regular IRAs. Instead, you only pay a small percentage on your gains. Additionally, you have access to your funds at no cost whenever you need them.
What are the pros and cons of a gold IRA?
An Individual Retirement Plan (IRA) has a major advantage over regular savings accounts. It doesn't tax any interest earned. This makes an IRA great for people who want to save money but don't want to pay tax on the interest they earn. There are some disadvantages to this investment.
To give an example, if your IRA is withdrawn too often, you can lose all your accumulated funds. You may also be prohibited by the IRS from making withdrawals from an IRA after you turn 59 1/2. A penalty fee will be charged if you decide to withdraw funds.
You will also need to pay fees for managing your IRA. Many banks charge between 0.5%-2.0% per year. Other providers charge monthly management costs ranging from $10-50.
If you prefer to keep your money outside a bank, you'll need to purchase insurance. A majority of insurance companies require that you possess a minimum amount gold to be eligible for a claim. Some insurers may require you to have insurance that covers losses up $500,000.
You will need to decide how much gold you wish to use if you opt for a gold IRA. Some providers limit how many ounces you can keep. Others allow you the freedom to choose your own weight.
You will also have to decide whether to purchase futures or physical gold. Physical gold is more expensive than gold futures contracts. Futures contracts offer flexibility for buying gold. They enable you to establish a contract with an expiration date.
It is also important to choose the type of insurance coverage that you need. Standard policies don't cover theft protection, loss due to fire, flood or earthquake. It does include coverage for damage due to natural disasters. Additional coverage may be necessary if you reside in high-risk areas.
Apart from insurance, you should consider the costs of storing your precious metals. Insurance doesn't cover storage costs. In addition, most banks charge around $25-$40 per month for safekeeping.
Before you can open a gold IRA you need to contact a qualified Custodian. A custodian helps you keep track of your investments, and ensures compliance with federal regulations. Custodians aren't allowed to sell your assets. Instead, they must keep your assets for as long you request.
Once you've decided which type of IRA best suits your needs, you'll need to fill out paperwork specifying your goals. Your plan should include information about the investments you want to make, such as stocks, bonds, mutual funds, or real estate. You should also specify how much you want to invest each month.
You will need to fill out the forms and send them to your chosen provider together with a check for small deposits. Once the company has received your application, they will review it and send you a confirmation email.
Consider consulting a financial advisor when opening a golden IRA. Financial planners are experts in investing and will help you decide which type of IRA works best for your situation. They can also help you lower your expenses by finding cheaper alternatives to purchasing insurance.
Statistics
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- 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)
- 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)
- 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)
External Links
cftc.gov
finance.yahoo.com
bbb.org
investopedia.com
How To
Guidelines for Gold Roth IRA
You should start investing early to ensure you have enough money for retirement. Start saving as soon as possible, usually at age 50. You can continue to save throughout your career. It's vital to contribute enough money each year to ensure adequate growth on an ongoing basis.
You also want to take advantage of tax-free opportunities such as a traditional 401(k), SEP IRA, or SIMPLE IRA. These savings vehicles allow you the freedom to contribute without having to pay tax on your earnings until they are withdrawn. These savings vehicles can be a great option for individuals who don't qualify for employer matching funds.
Save regularly and continue to save over time. You'll miss out on any potential tax benefits if you're not contributing the maximum amount allowed.
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By: Bitcoin.com
Title: Bitcoin.com Partners With Hummingbot in VERSE/USDT Campaign on KuCoin With $15,000 in Rewards
Sourced From: news.bitcoin.com/bitcoin-com-partners-with-hummingbot-in-verse-usdt-campaign-on-kucoin-with-15000-in-rewards/
Published Date: Sun, 22 Oct 2023 05:00:23 +0000
