PRESS RELEASE. Flynt Finance, a cryptocurrency financial services company that is based in Singapore and founded by former derivatives exchange operators, analysts, and other business people, launched last week a platform for structured crypto products. Flynt's high returns of up to 50% APY have attracted strong interest from crypto yield fans, particularly during the bear market when volatility is more difficult to find.
Because of their volatile price movements, cryptocurrency markets can be viewed as a place to go for high-return high-risk investments. It can be difficult to manage risk when dealing with such assets, especially if you don't have financial experience.
Options are a popular method of hedge by entering into positions that are opposite to your current asset position. If you anticipate a drop in price, for example, you could hold spot bitcoin and buy a put option. Crypto options, although still in its infancy compared to perpetual futurs, are a great way for volatile positions to be hedged both during chops and strong trends.
Many structured products offer yield through a combination of options, futures, lending and other strategies. The covered call strategy, also known as a cash covered puts strategy, is one of the most popular and simple structured products. Warren Buffet, the legendary investor, used this strategy to get premiums on Coca-Cola stocks.
Covered call strategies for various cryptocurrencies have been offered in a rush since 2021 to satisfy the needs of yield-hungry crypto investors. These strategies have grown rapidly since their inception, and they have held up well even during recent downturns.
Flynt's team launched their own structured product strategy after extensive research and backtesting different strategies. The strategy allows call options to be sold on a weekly basis. Any premium that is earned is reinvested into the next week. The team developed a proprietary strike price selection algorithm based on Deribit's 3-year trading data. This allows for maximum returns and minimal loss. Flynt's leverage is a key feature of their product. Flynt leverages up to five times on its strategies to increase returns and decrease loss potential by choosing an additional OTM strike price. Their backtests showed that this led to an average APR (including losses) of 47%, compared to the industry average which was about 15% (not including losses).
Flynt Finance CEO David Seo mentions that while a non-leveraged covered calling strategy is fine for most people, Flynt Finance can be used by those who want to take on more risk and earn higher returns. Flynt will provide crypto investment strategies that suit a range of risk profiles ."
Flynt Finance and Team
Flynt Finance provides structured products for cryptocurrencies and is your one-stop platform for asset management. Since 2015, the team includes blockchain OGs who have experience in delivering a variety of services, including cryptocurrency exchanges, protocols and dApps. Flynt's CEO David Seo, who was previously the COO at a major South Korean exchange, and Victor Park (CTO) have been developing robust stock and cryptocurrency trading platforms over the past 20 year. The core team also has extensive experience in many areas, including financial big data modeling and asset custody services. They can also trade structured products and derivatives trading.
Flynt's new initiative was launched by Flynt and his team with the bold mission of providing financial freedom for everyone, regardless of their location, technology, or privilege.
Every strategy implemented by Flynt can be found on Flynt’s website. This will ensure transparency to clients about how the deposited funds were used.
Flynt currently offers bitcoin covered-call strategies which generate up to 50% annualized yield. Flynt intends to continue meeting the needs of ever-evolving crypto investors through innovative products.
This is a press release. Before taking any action related to the promoted company, or any of its affiliates, or services, readers should do their research. Bitcoin.com does not assume any responsibility for any loss or damage caused or alleged by the use or reliance of any content, goods, or services mentioned in this press release.
Frequently Asked Questions
How much is gold taxed under a Roth IRA
The tax on an investment account is based on its current value, not what you originally paid. If you invest $1,000 in mutual funds or stocks and then later sell them, all gains are subjected to taxes.
The money can be withdrawn tax-free if it's deposited in a traditional IRA (or 401(k)). You pay taxes only on earnings from dividends and capital gains — which apply only to investments held longer than one year.
The rules that govern these accounts differ from one state to the next. In Maryland, for example, withdrawals must be made within 60 days of reaching the age of 59 1/2 in order to qualify. Massachusetts allows you to delay withdrawals until April 1. And in New York, you have until age 70 1/2 . To avoid penalties, you should plan ahead and take distributions as soon as possible.
How is gold taxed in an IRA?
The fair market value of gold sold is the basis for tax. You don't have tax to pay when you buy or sell gold. It isn't considered income. If you decide to sell it later, there will be a taxable gain if its price rises.
You can use gold as collateral to secure loans. Lenders look for the highest return when you borrow against assets. For gold, this means selling it. It's not guaranteed that the lender will do it. They may keep it. Or they might decide to resell it themselves. The bottom line is that you could lose potential profit in any case.
In order to avoid losing your money, only lend against your precious metal if you plan to use it to secure other collateral. You should leave it alone if you don't intend to lend against it.
How much money should my Roth IRA be funded?
Roth IRAs can be used to save taxes on your retirement funds. You can't withdraw money from these accounts before you reach the age of 59 1/2. However, if you do decide to take out some of your contributions before then, there are specific rules you must follow. You cannot touch your principal (the amount you originally deposited). No matter how much money you contribute, you cannot take out more than was originally deposited to the account. If you take out more than the initial contribution, you must pay tax.
The second rule says that you cannot withdraw your earnings without paying income tax. When you withdraw, you will have to pay income tax. Let's take, for example, $5,000 in annual Roth IRA contributions. 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. The remaining $6,500 is yours. Because you can only withdraw what you have initially contributed, this is all you can take out.
Therefore, even if you take $4,000 out of your earnings you still owe taxes on $1,500. On top of that, you'd lose half of the earnings you had taken out because they would be taxed again at 50% (half of 40%). So even though you received $7,000 in Roth IRA contributions, you only received $4,000.
Two types of Roth IRAs are available: Roth and traditional. Traditional IRAs allow pre-tax contributions to be deducted from your taxable tax income. Your traditional IRA allows you to withdraw your entire contribution plus any interest. You can withdraw as much as you want from a traditional IRA.
Roth IRAs are not allowed to allow you deductions for contributions. After you have retired, the full amount of your contributions and accrued interest can be withdrawn. There is no minimum withdrawal amount, unlike traditional IRAs. You don't need to wait until your 70 1/2 year old age before you can withdraw your contribution.
- 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)
- 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)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
- Saddam Hussein's InvasionHelped Uncage a Bear in 1990 – WSJ
- You want to keep gold in your IRA at home? It's Not Exactly Legal – WSJ
The best way to buy gold (or silver) online
Before you can buy gold, it is important to understand its workings. Gold is a precious metallic similar to Platinum. It's very rare and is used as money because of its durability and resistance to corrosion. It is very difficult to use and most people prefer to purchase jewelry made of it over actual bars of Gold.
Today, there are two types available in gold coins: one is legal tender and the other is bullion. Legal tender coins are minted for circulation in a country and usually include denominations like $1, $5, $10, etc.
Bullion coins can only be used as investment currency. They increase in value due to inflation.
They are not exchangeable in any currency exchange system. For example, a person who buys $100 worth or gold gets 100 grams. This gold has a $100 price. For every dollar spent, the buyer gets 1 gram of Gold.
When looking to buy precious metals, the next thing you should be aware of is where it can be purchased. There are several options available if your goal is to purchase gold from a dealer. First, you can visit your local coin store. You can also try going through a reputable website like eBay. You may also be interested in buying gold through private sellers online.
Individuals who sell gold at wholesale and retail prices are called private sellers. Private sellers will charge you a 10% to 15% commission for every transaction. This means that you will get less back from a private seller than if you sell it through a coin shop or on eBay. This option is often a great one for investors in gold, as it gives you greater control over the item's value.
Another way to buy gold is by investing in physical gold. You can store physical gold much more easily than you can with paper certificates. However, it still needs to be safe. Physical gold should be stored in an impenetrable container, such a vault and safety deposit box to ensure its safety.
You can either visit a bank, pawnshop or bank to buy gold. A bank can give you a loan up to the amount you intend 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.
The final option is to ask someone to buy your gold! Selling gold is simple too. You can contact a company like GoldMoney.com to set up an account and receive payments right away.
Title: Flynt Launches Industry’s Highest Yield Product on Bitcoin
Sourced From: news.bitcoin.com/flynt-launches-industrys-highest-yield-product-on-bitcoin/
Published Date: Sat, 24 Sep 2022 11:00:02 +0000