Introduction
Bitcoin Magazine is thrilled to announce its new partnership with Unchained, the leading provider of Bitcoin financial services. As our Official Collaborative Custody and IRA partner in the United States, Unchained will offer a groundbreaking approach to managing Bitcoin assets, providing investors with enhanced security and control.
The Need for a Better Solution
Traditionally, institutional and enterprise investors have relied on large, publicly-traded custodians to manage their Bitcoin holdings. However, this approach comes with significant drawbacks. By entrusting their assets to a single custodian, investors negate many of the benefits that Bitcoin offers while increasing the risk of catastrophic loss.
A Collaborative Custody Solution
Bitcoin Magazine and Unchained recognize that Bitcoin, when properly held, has the potential to become a fundamental part of the global financial system. To address the limitations of traditional custodial services, Unchained offers a collaborative custody solution that allows investors to take ownership of their assets or distribute control among multiple trusted parties. This innovative approach has gained traction as a superior risk management strategy.
Educational Content and Market Research
As part of our partnership, Bitcoin Magazine and Unchained will co-produce Bitcoin-only educational content. This content will focus on financial literacy, security, planning (including 401k, IRA, and inheritance), and market research. Our goal is to empower new and current Bitcoin investors with the knowledge and tools they need to achieve their financial goals. Additionally, we will release an Institutional Adoption Roadmap to guide financial institutions in their interaction with the Bitcoin network through collaborative custody.
Exclusive Benefits for Bitcoin Magazine Customers
Bitcoin Magazine customers will enjoy exclusive discounts on Unchained's vault custody product, Bitcoin IRA services, and Signature – Unchained's comprehensive suite of financial services. In addition, Unchained's vault clients will receive complimentary access to Bitcoin Magazine Pro, our premier market research subscription. They will also receive issues of our printed Bitcoin Magazine publications, discounts on passes to The Bitcoin Conference, and access to invite-only events.
Statements from the CEOs
Joe Kelly, CEO of Unchained, expressed his belief in the transformative power of Bitcoin and the need for a more secure custodial solution. He stated, "We founded Unchained to fix the flaws of traditional custodians and provide people with a way to prevent single points of failure. We are excited to partner with Bitcoin Magazine to educate the market on the importance of proper Bitcoin custody."
Mike Germano, President of Bitcoin Magazine, emphasized the importance of education in the rapidly evolving Bitcoin space. He said, "We believe Unchained's custody model is the right way for people to integrate Bitcoin into their portfolios. This partnership will help us educate the market on why Bitcoin, when held securely, should be the standard for investors and institutions in capital markets."
Bitcoin as a Revolutionary Monetary System
Bitcoin Magazine and Unchained share a vision of Bitcoin as a revolutionary monetary system that will reshape global finance. To realize this vision, users need robust tools for secure and efficient capital management. Unchained's unparalleled services play a pivotal role in empowering Bitcoin as a necessary asset for all investors, from individuals to institutions. Together, we can turn this vision into reality.
For more information about our partnership, please visit unchained.bitcoinmagazine.com.
About Bitcoin Magazine
Bitcoin Magazine is the world's first publication dedicated to Bitcoin. Operating from Nashville, Tennessee, Bitcoin Magazine provides innovative ideas, breaking news, and global impact at the intersection of finance, technology, and Bitcoin. It is published by BTC Media, a trusted source for Bitcoin news. For the latest updates, visit BitcoinMagazine.com.
About Unchained
Unchained is a leading provider of Bitcoin financial services. Founded in 2016, Unchained has helped thousands of individuals and businesses truly own their wealth by holding Bitcoin keys. With over $4 billion of Bitcoin assets secured, Unchained's collaborative custody model offers a wide range of financial services while maintaining the benefits of self-custody. For more information, please visit www.unchained.com.
Frequently Asked Questions
What proportion of your portfolio should you have in precious metals
To answer this question we need to first define precious metals. Precious elements are those elements which have a high price relative to other commodities. This makes them extremely valuable for trading and investing. Gold is today the most popular precious metal.
There are also many other precious metals such as platinum and silver. The price of gold fluctuates, but it generally remains stable during times of economic turmoil. It is also unaffected significantly by inflation and Deflation.
As a general rule, the prices for all precious metals tend to increase with the overall market. But they don't always move in tandem with one another. For instance, gold's price will rise when the economy is weak, while precious metals prices will fall. Investors are more likely to expect lower interest rates making bonds less attractive investments.
In contrast, when the economy is strong, the opposite effect occurs. Investors are more inclined to invest in safe assets, such as Treasury Bonds, and they will not demand precious metals. They are more rare, so they become more expensive and less valuable.
You must therefore diversify your investments in precious metals to reap the maximum profits. It is also a good idea to diversify your investments in precious metals, as prices tend to fluctuate.
What's the advantage of a Gold IRA?
There are many advantages to a gold IRA. It's an investment vehicle that lets you diversify your portfolio. You can control how much money is deposited into each account as well as when it's withdrawn.
You also have the option to roll over funds from other retirement accounts into a gold IRA. This allows you to easily transition if your retirement is early.
The best thing is that investing in gold IRAs doesn't require any special skills. They are readily available at most banks and brokerages. Withdrawals can happen automatically, without any fees or penalties.
But there are downsides. Gold has historically been volatile. Understanding why you want to invest in gold is essential. Is it for growth or safety? Are you trying to find safety or growth? Only when you are clear about the facts will you be able take an informed decision.
If you plan on keeping your gold IRA alive for a while, you may want to consider purchasing more than 1 ounce of pure gold. You won't need to buy more than one ounce of gold to cover all your needs. Depending on the purpose of your gold, you might need more than one ounce.
A small amount is sufficient if you plan to sell your gold. You can even live with just one ounce. But you won't be able to buy anything else with those funds.
What does a gold IRA look like?
People who wish to invest in precious metals can use Gold Ira accounts as a tax-free investment vehicle.
You can purchase gold bullion coins in physical form at any moment. You don't have to wait until retirement to start investing in gold.
You can keep gold in an IRA forever. Your gold holdings will not be subject to tax when you are gone.
Your heirs will inherit your gold, and not pay capital gains taxes. And because your gold remains outside of the estate, you aren't required to include it in your final estate report.
To open a IRA for gold, you must first create an individual retirement plan (IRA). Once you've completed this step, an IRA administrator will be appointed to your account. This company acts as a mediator between you, the IRS.
Your gold IRA Custodian will manage the paperwork and submit all necessary forms to IRS. This includes filing annual reports.
Once your gold IRA is established, you can purchase gold bullion coins. Minimum deposit is $1,000 You'll get a higher rate of interest if you deposit more.
Taxes will apply to gold that you take out of an IRA. You'll have to pay income taxes and a 10% penalty if you withdraw the entire amount.
You may not be required to pay taxes if you take out only a small amount. There are some exceptions, though. For example, taking out 30% or more of your total IRA assets, you'll owe federal income taxes plus a 20 percent penalty.
It's best not to take out more 50% of your total IRA investments each year. You could end up with severe financial consequences.
What is the best precious metal to invest in?
This question depends on how risky you are willing to take, and what return you want. Gold is a traditional haven investment. However, it is not always the most profitable. For example, if your goal is to make quick money, gold may not suit you. 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 might be a better investment option if steady returns are desired over a long period of time.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.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)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
finance.yahoo.com
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement accounts
cftc.gov
How To
The best place online to buy silver and gold
First, understand the basics of gold. Gold is a precious metal similar to platinum. It is rare and used as money due to its durability and resistance against corrosion. It is very difficult to use and most people prefer to purchase jewelry made of it over actual bars of Gold.
There are two types currently available: legal tender and bullion. Legal tender coins can be used for circulation within a country. These coins usually come in denominations such $1, $5 and $10.
Bullion coins are only minted to be used for investment purposes. Their value increases over time because of inflation.
They aren’t exchangeable in any currency exchange. 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. If you want to purchase gold directly from a dealer, then a few options are available. First, go to your local coin shop. You could also look into eBay or other reputable websites. You might also consider buying gold from an online private seller.
Individuals who sell gold at wholesale and retail prices are called private sellers. Private sellers charge a 10% to 15% commission per transaction. That means you would get back less money from a private seller than from a coin shop or eBay. This is a great option for gold investing because you have more control over the item’s 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. You need to make sure that your physical gold is safe by storing it in an impenetrable container like a vault or safety depositbox.
A bank or pawnshop can help you buy gold. A bank can provide you with a loan to cover the amount you wish to invest in gold. These are small businesses that let customers borrow money against the items they bring to them. Banks tend to charge higher interest rates, while pawnshops are typically lower.
A third way to buy gold? Simply ask someone else! Selling gold can be as easy as selling. You can contact a company like GoldMoney.com to set up an account and receive payments right away.
—————————————————————————————————————————————————————————————-
By: Bitcoin Magazine
Title: Bitcoin Magazine and Unchained Partner to Revolutionize Bitcoin Financial Services
Sourced From: bitcoinmagazine.com/press-releases/bitcoin-magazine-announces-partnership-with-unchained
Published Date: Tue, 13 Feb 2024 16:00:00 GMT
