Theya, founded by Sriram Bhargav Karnati, aims to make Bitcoin multisig vaults accessible to everyone without compromising on security or usability. Karnati, a Google and Robinhood veteran, brings a wealth of experience in building consumer products and understanding Bitcoin to the table.
Bringing Silicon Valley Experience to Bitcoin
Having worked at Google and Robinhood, Karnati learned valuable lessons in scaling products and simplifying complex financial instruments. His transition to Bitcoin self-custody with Theya marks a strategic move to make storing Bitcoin easier and more user-friendly.
The Innovation Behind Theya
Theya offers a 2-of-3 multisig setup for its vaults, ensuring enhanced security by requiring multiple key holders to authorize transactions. What sets Theya apart is its mobile multisig solution that eliminates the need for hardware wallets, catering to users who prefer a simpler approach to self-custody.
Accessible Solutions for All
Recognizing the diverse needs of users, Theya provides both paid multisig vaults and free single-sig mobile wallets. The company's commitment to onboarding users to self-custody is evident in its range of offerings, including compatibility with popular hardware wallets.
Strategic Partnership with Y Combinator
By securing funding from Y Combinator, Theya validates its mission and vision in the crypto space. Y Combinator's interest in the team's backgrounds and dedication to simplifying Bitcoin storage aligns with Theya's goals of making self-custody accessible to a wider audience.
Bitcoin's Transformative Potential
Karnati's firsthand experience with Bitcoin's capabilities, from seamless transactions to efficient remittances, solidified his belief in the digital asset's future. His decision to focus on Bitcoin stems from its unique value propositions, including being a store of value and a medium for fast, low-cost transactions.
Future Endeavors with Theya
Looking ahead, Theya aims to expand into the payments space, enabling merchants to accept Bitcoin and offering subscription services. While Lightning integration isn't an immediate priority, the team is focused on streamlining the buying and storing process within the app, addressing limitations observed in traditional exchanges like Coinbase and Robinhood.
Frequently Asked Questions
What Does Gold Do as an Investment Option?
The supply and demand for gold affect the price of gold. Interest rates are also a factor.
Due to their limited supply, gold prices fluctuate. There is also a risk in owning gold, as you must store it somewhere.
Is buying gold a good way to save money for retirement?
Although gold investment may not seem appealing at first glance due to the high average global gold consumption, it's worth considering.
Physical bullion is the most popular method of investing in gold. However, there are many other ways to invest in gold. Research all options carefully and make an informed decision about what you desire from your investments.
If you're not looking to secure your wealth, it may be worth considering purchasing shares in mining equipment or companies that extract gold. Owning gold stocks should work well if you need cash flow from your investment.
You can also invest your money in exchange-traded fund (ETFs), which give you exposure to the gold price by holding securities related to gold. These ETFs typically include stocks from gold miners, precious metallics refiners, commodity trading companies, and other commodities.
Can I have physical gold in my IRA
Not only is gold paper currency, but it's also money. 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. 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. The S&P 500 declined 21 percent during the same period. Gold prices increased nearly 100 per cent between August 2011 – early 2013. During turbulent market conditions gold was one of few assets that outperformed stock prices.
The best thing about gold investing is the fact that there's virtually no counterparty risk. If your stock portfolio goes down, you still own your shares. You can still own your gold even if the company where you invested fails to pay its debt.
Finally, gold provides liquidity. 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 you to take advantage of short-term fluctuations in the gold market.
Are You Ready to Invest in Gold?
This will depend on how much money and whether you were able to invest in gold at the time that you started saving. If you are unsure of which option to invest in, consider both.
Gold offers potential returns and is therefore a safe investment. It is a good choice for retirees.
While many investments promise fixed returns, gold is subject to fluctuations. Its value fluctuates over time.
This does not mean you shouldn’t invest in gold. You should just factor the fluctuations into any overall portfolio.
Another advantage to gold is that it can be used as a tangible asset. Gold is much easier to store than bonds and stocks. It can be easily transported.
You can always access your gold as long as it is kept safe. Plus, there are no storage fees associated with holding physical gold.
Investing in gold can help protect against inflation. As gold prices rise in tandem with other commodities it can be a good hedge against rising cost.
You'll also benefit from having a portion of your savings invested in something that isn't going down in value. Gold tends to rise when the stock markets fall.
You can also sell gold anytime you like by investing in it. You can also liquidate your gold position at any time you need cash, just like stocks. You don't even need to wait for your retirement.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
Do not buy too much at one time. Start with a few ounces. Add more as you're able.
Keep in mind that the goal is not to quickly become wealthy. Rather, it's to build up enough wealth so you won't need to rely on Social Security benefits.
And while gold might not be the best investment for everyone, it could be a great supplement to any retirement plan.
Statistics
- 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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- 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)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
wsj.com
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- Are you interested in keeping gold in your IRA at-home? It's Not Exactly Lawful – WSJ
bbb.org
cftc.gov
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
Investing in gold vs. investing in stocks
Investing in gold as an investment vehicle might seem like a very risky proposition these days. This is because many people believe gold is no longer financially profitable. This belief stems from the fact that most people see gold prices being driven down by the global economy. They believe they would lose their money if they invested gold. There are many benefits to investing in gold. We'll be looking at some of these benefits below.
One of the oldest forms known of currency is gold. There are records of its use going back thousands of years. It is a valuable store of value that has been used by many people throughout the world. It is still used as a payment method by South Africa and other countries.
Consider the price per gram when you decide whether you should invest in or not. It is important to determine the price per gram you are willing and able to pay for gold bullion. If you don’t know the current market rate for gold bullion, you can always consult a local jeweler to get their opinion.
Noting that gold prices have fallen in recent years, it is worth noting that the cost to produce gold has gone up. The price of gold may have fallen, but the production costs haven’t.
You should also consider the amount of your intended purchase when considering whether you should buy or not. For example, if you only intend to purchase enough to cover your wedding rings, it probably makes sense to hold off on buying any gold. However, if you are planning on doing so for long-term investments, then it is worth considering. Selling your gold at a higher value than what you bought can help you make money.
We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. We recommend you do your research before making any final decisions. Only after you have done this can you make an informed choice.
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By: Frank Corva
Title: How Theya Is Revolutionizing Bitcoin Multisig Vaults for Everyday Users
Sourced From: bitcoinmagazine.com/business/google-robinhood-veteran-aims-to-bring-bitcoin-multsig-to-the-masses-with-theya
Published Date: Wed, 31 Jul 2024 13:58:42 GMT
