River, a private Bitcoin brokerage founded by Alexander Leishman in February 2019, is redefining the landscape of secure Bitcoin custody and payment infrastructure. With a team of 50 employees based in Columbus, OH, River is committed to offering top-tier services rooted in the Bitcoin ethos.
Engineering Excellence
Leishman, with a background in aerospace engineering and a master's degree in computer science from Stanford, brings a wealth of technical expertise to River. His experience spans from robotics engineering to cryptography research, highlighting his proficiency in securing millions of dollars in Bitcoin for clients.
Commitment to Security
At River, the primary focus is on maintaining the utmost security and reliability. Leishman emphasizes the importance of actively investing resources in containing risks, improving systems, and building automation to safeguard client assets. By developing their proprietary custody systems, River ensures a level of trust and transparency unmatched in the industry.
Embracing the Bitcoin Ethos
Leishman's journey into Bitcoin was fueled by a desire to challenge centralized power structures and create a financial system resistant to government control. His commitment to decentralization and economic sovereignty led him to Bitcoin, where he saw the potential to revolutionize the financial landscape.
Building Infrastructure for the Future
With a focus on enhancing user experience and accessibility, River is dedicated to expanding its services to facilitate seamless Bitcoin transactions. By incorporating Lightning Network capabilities into its platform, River enables users to leverage Bitcoin as a medium of exchange while ensuring the security of their funds.
Driving Innovation in Bitcoin Brokerage
As the CEO and CTO of River, Leishman's strategic vision and technical acumen have positioned the company as a trailblazer in the Bitcoin brokerage space. By prioritizing security, usability, and customer experience, River continues to set new standards for excellence in the industry.
Future Outlook
While Bitcoin continues to gain traction as a store of value, River remains focused on refining its brokerage services and simplifying the user experience. With a keen eye on the evolving trends in Bitcoin adoption, River is poised to lead the way in bridging the gap between traditional fiat systems and digital assets.
Frequently Asked Questions
Should You Buy Gold?
In the past, gold was considered a haven for investors during economic turmoil. However, today many people are turning away from traditional investments such as stocks and bonds and instead looking toward precious metals such as gold.
Although gold prices have shown an upward trend in recent years, they are still relatively low when compared to other commodities like oil and silver.
Some experts believe that this could change very soon. Experts predict that gold prices will rise sharply in the wake of another global financial collapse.
They also pointed out that gold is gaining popularity due to its perceived value, and potential return.
Here are some things to consider if you're considering investing in gold.
- Consider whether you will actually need the money that you are saving for retirement. It is possible to save enough money to retire without investing in gold. The added protection that gold provides when you retire is a good option.
- You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each offer varying degrees of security and flexibility.
- Finally, remember that gold doesn't offer the same level of safety as a bank account. Losing your gold coins could result in you never being able to retrieve them.
You should do your research before buying gold. And if you already own gold, ensure you're doing everything possible to protect it.
How does a gold IRA work?
People who wish to invest in precious metals can use Gold Ira accounts as a tax-free investment vehicle.
Physical gold bullion coin can be purchased at any time. You don't have to wait until retirement to start investing in gold.
Owning gold as an IRA has the advantage of allowing you to keep it forever. You won't have to pay taxes on your gold investments when you die.
Your heirs can inherit your gold and avoid capital gains taxes. Because your gold doesn't belong to the estate, it's not necessary to include it on your final estate plan.
To open a IRA for gold, you must first create an individual retirement plan (IRA). Once you've done that, you'll receive an IRA custody. This company acts as a middleman between you and 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. The minimum deposit is $1,000. If you make more, however, you will get a higher interest rate.
You will pay taxes when you withdraw your gold from your IRA. You will be liable for income taxes and penalties if you take the entire amount.
A small percentage may mean that you don't have to pay taxes. There are some exceptions, though. You'll owe federal income tax and a 20% penalty if you take out more than 30% of your total IRA assets.
It's best not to take out more 50% of your total IRA investments each year. You could end up with severe financial consequences.
Is gold a good investment IRA option?
Gold is an excellent investment for any person who wants to save money. It is also an excellent way to diversify you portfolio. There's more to gold that meets the eye.
It has been used throughout the history of currency and remains a popular payment method. It's often referred to as “the world's oldest currency.”
Gold is not created by governments, but it is extracted from the earth. This makes it highly valuable as it is hard and rare to produce.
The price of gold fluctuates based on supply and demand. If the economy is strong, people will spend more money which means less people can mine gold. Gold's value rises as a result.
On the flip side, people save cash for emergencies and don't spend it. This leads to more gold being produced which decreases its value.
It is this reason that gold investing makes sense for businesses and individuals. You'll reap the benefits of investing in gold when the economy grows.
Also, your investments will earn you interest which can help increase your wealth. In addition, you won’t lose any money if gold falls in value.
What amount should I invest in my Roth IRA?
Roth IRAs can be used to save taxes on your retirement funds. You cannot withdraw funds from these accounts until you reach 59 1/2. However, if your goal is to withdraw funds before that time, there are certain rules you must observe. First, you cannot touch your principal (the original amount deposited). This means that you can't take out more money than you originally contributed. If you wish to withdraw more than you originally contributed, you will have to pay taxes.
The second rule is that you cannot withdraw your earnings without paying income taxes. When you withdraw, you will have to pay income tax. Let's assume that you contribute $5,000 each year to your Roth IRA. Let's also say that you earn $10,000 per annum after contributing. You would owe $3,500 in federal income taxes on the earnings. So you would only have $6,500 left. 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. Additionally, half of your earnings would be lost because they will be taxed at 50% (half the 40%). You only got back $4,000. Even though you were able to withdraw $7,000 from your Roth IRA,
There are two types if Roth IRAs, Roth and Traditional. A traditional IRA allows you to deduct pre-tax contributions from your taxable income. Your traditional IRA allows you to withdraw your entire contribution plus any interest. You have the option to withdraw any amount from a traditional IRA.
A Roth IRA doesn't allow you to deduct your contributions. Once you are retired, however, you may withdraw all of your contributions plus accrued interest. There is no minimum withdrawal limit, unlike traditional IRAs. You don't have to wait until you turn 70 1/2 years old before withdrawing your contribution.
Is the government allowed to take your gold
Your gold is yours, so the government cannot confiscate it. You have earned it by working hard for it. It belongs entirely to you. This rule may not apply to all cases. You can lose your gold if you have been convicted for fraud against the federal governments. You can also lose precious metals if you owe taxes. You can keep your gold even if your taxes are not paid.
What is a Precious Metal IRA?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These precious metals are extremely rare and valuable. They are great investments for your money, and they can protect you from inflation or economic instability.
Bullion is often used for precious metals. Bullion refers only to the actual metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as some grocery stores.
A precious metal IRA allows you to invest directly in bullion, rather than buying stock shares. This will ensure that you receive annual dividends.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. You pay only a small percentage of your gains tax. You also have unlimited access to your funds whenever and wherever you wish.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- (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)
- 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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
bbb.org
cftc.gov
finance.yahoo.com
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
The best place online to buy silver and gold
Before you can buy gold, it is important to understand its workings. Gold is a precious metal similar to platinum. It's very rare and is used as money because of its durability and resistance to corrosion. It's hard to use, so most people prefer buying jewelry made out of it to actual bars of gold.
There are two types today of gold coins. One is legal tender while the other is bullion. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coins are minted for investment purposes only, and their values increase over time due to inflation.
They aren't circulated in any currency exchange systems. If a person purchases $100 worth of gold, 100 grams of the gold will be given to him/her. The $100 value is $100. Each dollar spent earns the buyer 1 gram gold.
When you are looking to purchase gold, the next thing to know is where to get it. There are several options available if your goal is to purchase gold from a dealer. You can start by visiting your local coin shop. You might also consider going through a reputable online seller like eBay. You can also purchase gold through private online sellers.
Private sellers are individuals that offer gold at wholesale or retail prices. You pay a commission fee between 10% and 15% for each transaction when you sell gold through private sellers. You would receive less money from a private buyer than you would from a coin store or eBay. This option can be a good choice for investing in gold because it allows you to control the price.
The other option is to purchase physical gold. Physical gold is much easier to store than paper certificates, but you still have to worry about storing it safely. It is important to keep your physical gold safe in an impenetrable box such as a vault, safety deposit box or other secure container.
If you are looking to purchase gold on your own, you have two options: a bank or an pawnshop. 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 charge higher interest rates than those offered by pawn shops.
A third way to buy gold? Simply ask someone else! Selling gold is easy too. You can contact a company like GoldMoney.com to set up an account and receive payments right away.
—————————————————————————————————————————————————————————————-
By: Frank Corva
Title: River: A Bitcoin Brokerage Revolutionizing Secure Custody and Payment Infrastructure
Sourced From: bitcoinmagazine.com/business/river-a-bitcoin-brokerage-built-from-the-ground-up
Published Date: Tue, 20 Aug 2024 20:32:26 GMT
