Gaimin Chosen as Inaugural Incubatee
GAIMIN, the global leader in decentralized data processing power through gaimin.cloud, has been handpicked by CoinMarketCap (CMC) to be one of the first projects incubated under the new CMC Labs accelerator program. As the premier source of news, data, and community engagement for the crypto market, CMC only aligns itself with trusted and proven organizations. The CMC Labs incubator program aims to leverage CMC's expertise and brand to support innovative products and services in the crypto industry.
GAIMIN's GMRX Token and the Gaming Ecosystem
GAIMIN's utility token, GMRX, is designed to enhance the gaming experience and provide maximum utility to gamers through the gaimin.cloud platform, games launcher, and monetization engine. Being selected by CMC for incubation is a testament to GAIMIN's strategic approach in developing its products and services before the listing of GMRX. This partnership will serve as a springboard for the successful launch of the token.
CEO Martin Speight's Excitement
Martin Speight, the CEO of GAIMIN, expressed his delight in being selected as an inaugural incubatee for CMC Labs. He acknowledged the potential of combining CMC's 64 million daily active users with their deep knowledge of the crypto industry, which will undoubtedly contribute to the successful introduction of GMRX.
CEO Rush's Welcome
Rush, the CEO of CoinMarketCap, welcomed GAIMIN as an incubatee of CMC Labs' Web3 accelerator program. He praised GAIMIN as a trailblazer in the Web3 gaming space, providing gamers with new opportunities to earn rewards and own in-game assets. Rush looks forward to collaborating closely with the GAIMIN team to help them reach their full potential.
GAIMIN's Product Development Journey
Over the past five years, GAIMIN has dedicated its efforts to developing products and services for the gaming ecosystem and its user community. The company's working product, along with partnership agreements for monetizing data processing services with AI-focused companies, played a vital role in CMC's decision to select GAIMIN for its incubator program. With these achievements, GAIMIN is poised to become one of the most highly anticipated token listings in 2024.
Mutual Benefits of the Incubator Agreement
The incubator agreement between GAIMIN and CMC Labs brings mutual benefits to both organizations. GAIMIN gains access to CMC's 64 million daily active users and their industry-leading expertise, while CMC benefits from brand exposure on Gaimin Gladiators' esports team merchandise and social media posts. Gaimin Gladiators garnered over 12 billion impressions in 2023 from the success of its DOTA2, Fortnite, PubG Mobile, and Rocket League teams. With the addition of new game genres and teams, Gaimin Gladiators anticipates substantial growth in 2024.
About CoinMarketCap
CoinMarketCap is the world's most-referenced price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high-quality, and accurate information to draw their own informed conclusions.
About GAIMIN
GAIMIN.IO Ltd (GAIMIN) is a UK and Swiss-based gaming company that aims to help gamers monetize the computational power of their gaming PCs. By utilizing underutilized processing power found in gaming PCs, GAIMIN has created a decentralized data processing network that delivers supercomputer performance on a global scale.
GAIMIN's free-to-download PC-based application monetizes the underutilized performance by harnessing the power of a worldwide network of independent processing devices, known as GAIMIN.CLOUD. Initially focused on video rendering and AI data processing, GAIMIN's data processing network continuously provides services and rewards to its user community. GAIMIN rewards users with its own cryptocurrency, GMRX, which can be used for purchases on the GAIMIN Marketplace or converted to fiat or other cryptocurrencies.
For more information, please visit:
www.coinmarketcap.com
www.gaimin.io
www.gaimin.gg
For further information, please contact:
The Americas, Middle East and Australian Pacific – Andrew Faridani, Chief Marketing Officer for GAIMIN (based in Toronto, Canada): andrew@gaimin.io
UK and Europe – Marc Bray, Chief Communications Officer for GAIMIN (based in Manchester, UK): marc@gaimin.io
Frequently Asked Questions
What are the pros and cons of a gold IRA?
An Individual Retirement account (IRA) is a better option than regular savings accounts in that interest earned is exempted from tax. An IRA is a good choice for those who want a way to save some money but don’t want the tax. There are some disadvantages to this investment.
You could lose all of your accumulated money if you take out too much from your IRA. Also, the IRS may not allow you to make withdrawals from your IRA until you’re 59 1/2 years old. If you do withdraw funds, you’ll need to pay a penalty.
A disadvantage to managing your IRA is the fact that fees must be paid. Many banks charge between 0.5% and 2.0% per year. Other providers may charge monthly management fees, ranging between $10 and $50.
If you prefer to keep your money outside a bank, you’ll need to purchase insurance. In order to make a claim, most insurers will require that you have a minimum amount in gold. Some insurers may require you to have insurance that covers losses up $500,000.
If you choose to have a gold IRA you will need to establish how much gold to use. You may be limited in the amount of gold you can have by some providers. Others let you choose your weight.
It’s also important to decide whether or not to buy gold futures contracts. Physical gold is more costly than gold futures. Futures contracts, however, allow for greater flexibility in buying gold. They allow you to set up a contract with a specific expiration date.
Also, you will need to decide on the type of insurance coverage you would like. The standard policy doesn’t provide theft protection or loss due 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.
In addition to insurance, you’ll need to consider the cost of storing your gold. Storage costs will not be covered by insurance. For safekeeping, banks typically charge $25-40 per month.
If you decide to open a gold IRA, you must first contact a qualified custodian. A custodian maintains track of all your investments and ensures you are in compliance with federal regulations. Custodians cannot sell your assets. They must instead keep them for as long as you ask.
Once you’ve chosen the best type of IRA for you, you need to fill in paperwork describing your goals. Your plan should include information about the investments you want to make, such as stocks, bonds, mutual funds, or real estate. It is also important to specify how much money you will invest each month.
Once you have completed the forms, you will need to mail them to your provider with a check and a small deposit. After reviewing your application, the company will send you a confirmation mail.
When opening a gold IRA, you should consider using a financial planner. A financial planner is an expert in investing and can help you choose the right type of IRA for you. They can help reduce your expenses by helping you find cheaper alternatives to buying insurance.
Can I buy gold with my self-directed IRA?
Your self-directed IRA can be used to purchase gold, but first you need to open an account with a brokerage firm such as TD Ameritrade. You can also transfer funds from an existing retirement fund.
The IRS allows individuals up to $5.500 annually ($6,500 if you are married and filing jointly). This can be contributed to a traditional IRA. Individuals can contribute up $1,000 per annum ($2,000 if they are married and jointly) directly to a Roth IRA.
You should consider buying physical gold bullion if you decide to invest in it. Futures contracts are financial instruments that are based on gold’s 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.
Do You Need to Open a Precious Metal IRA
The most important thing you should know before opening an IRA account is that precious metals are not covered by insurance. If you lose money in your investment, nothing can be done to recover it. This includes any loss of investments from theft, fire, flood or other circumstances.
It is best to invest in physical gold coins and silver coins to avoid this type loss. These items can be lost because they have real value and have been around for thousands years. You would probably get more if you sold them today than you paid when they were first created.
When opening an IRA account, make sure you choose a reputable company offering competitive rates and high-quality products. Consider using a third-party custody company to keep your assets safe and allow you to access them at any time.
You won’t get any returns until you retire if you open an account. Remember the future.
How does a Gold IRA account work?
Gold Ira accounts are tax-free investment vehicles for people who want to invest in precious metals.
You can purchase gold bullion coins in physical form at any moment. To start investing in gold, it doesn’t matter if you are retired.
Owning gold as an IRA has the advantage of allowing you to keep it forever. When you die, your gold assets won’t be subjected to taxes.
Your gold will be passed on to your heirs, without you having to 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.
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 a mediator between you, the IRS.
Your gold IRA custody will take care of the paperwork and send the forms to IRS. This includes filing annual reporting.
Once you’ve established your gold IRA, you’ll be able to purchase gold bullion coins. Minimum deposit is $1,000 The minimum deposit is $1,000. However, you will receive a higher percentage of interest if your deposit is greater.
Taxes will apply to gold that you take out of an IRA. If you’re withdrawing the entire balance, you’ll owe income taxes plus a 10 percent penalty.
You may not be required to pay taxes if you take out only a small amount. However, there are exceptions. If you take out 30% of your total IRA assets or more, you will owe federal income taxes and a 20 percent penalty.
You should avoid taking out more than 50% of your total IRA assets yearly. A violation of this rule can lead to severe financial consequences.
Is the government allowed to take your gold
You own your gold and therefore the government cannot seize it. It is yours because you worked hard for it. It belongs to your. But, this rule is not universal. If you are convicted of fraud against the federal government, your gold can be forfeit. Also, if you owe taxes to the IRS, you can lose your precious metals. However, even if taxes are not paid, gold is still your property.
Is it possible to hold a gold ETF within a Roth IRA
While a 401k may not offer this option for you, it is worth considering other options, such an Individual Retirement Plan (IRA).
An IRA traditional allows both employees and employers to contribute. An Employee Stock Ownership Plan (ESOP) is another way to invest in publicly traded companies.
An ESOP is a tax-saving tool because employees have a share of company stock as well as the profits that the business generates. The money you invest in the ESOP will be taxed at a lower rate than if it were directly held by the employee.
An Individual Retirement Annuity (IRA) is also available. An IRA allows for you to make regular income payments during your life. Contributions to IRAs don’t have to be taxable
Is buying gold a good way to save money for retirement?
Buying gold as an investment may not seem very appealing at first glance, but when you consider how much people spend on average on gold per year worldwide, it becomes worth considering.
Physical bullion is the most popular method of investing in gold. But there are many other options for investing in gold. You should research all options thoroughly before making a decision on which option you prefer.
If you don’t want to keep your wealth safe, buying shares in companies that extract gold and mining equipment could be a better choice. If you are looking for cash flow from your investment, buying gold stocks will work well.
You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs often include stocks of gold miners, precious metals refiners, and commodity trading companies.
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)
- 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)
- 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)
External Links
investopedia.com
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China’s Evergrande Crisis – Forbes Advisor
bbb.org
wsj.com
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1991 – WSJ
- Are you interested in keeping gold in your IRA at-home? It’s not exactly legal – WSJ
How To
The History of Gold as an Asset
From the beginning of history, gold was a popular currency. It was universally accepted and loved for its beauty, durability, purity and divisibility. Aside from its inherent value, it could be traded internationally. There was no international standard for measuring gold at that time, so different weights and measures were used around the world. For example in England, a pound sterling equals 24 carats. In France, a livre tournois equals 25. Carats of golden. Germany had one mark which equals 28. Carats.
The United States began issuing American coin made up 90% copper, 10% zinc and 0.942 fine-gold in the 1860s. This resulted in a decline of foreign currency demand and an increase in the price. The price of gold dropped because the United States began to mint large quantities of gold coins. The U.S. government was unable to pay its debts due to too much money being in circulation. To do this, they decided that some of their excess gold would be sold back to Europe.
Many European countries began accepting gold in exchange for the dollar because they did not trust it. Many European countries started to accept paper money as a substitute for gold after World War I. The gold price has gone up significantly in the years since. Even though the price fluctuates, gold is still one of best investments.
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By: Media
Title: CoinMarketCap Selects Gaimin’s GMRX Token for Incubation in CMC Labs
Sourced From: news.bitcoin.com/coinmarketcap-announces-gaimins-gmrx-token-to-be-incubated-by-cmc-labs-in-a-historic-first/
Published Date: Thu, 04 Jan 2024 18:00:19 +0000
