Theya, the multisig bitcoin vault maker, announced a groundbreaking feature that allows US users to purchase bitcoin directly through their app and have it sent directly to self-custody via hardware wallets like Ledger, Trezor, Foundation, and ColdCard or through its multisig vaults.
Game-Changing Bitcoin Purchase Feature
Theya has launched a much-requested feature that enables US-based users to buy Bitcoin directly into self-custodial vaults. This feature aims to provide users with low fees and eliminate the complexity of transfers from exchanges.
This unique feature offers instant funding, low fees, and simplifies the process of moving bitcoin from an exchange into self custody, providing users with a seamless experience.
Benefits of Direct Bitcoin Purchases
Among the key benefits of this new feature is a quick identity verification process that ensures fast and secure bitcoin purchases. Additionally, users no longer need to obtain permission from an exchange through address whitelisting to send bitcoin to a specific address.
Currently, the new feature utilizes the ACH payment system for bitcoin purchases. Theya plans to introduce a wire transfer option for larger purchases in the future.
Partnership with Cybrid for Secure Transactions
To facilitate ACH transfers, Theya has partnered with Cybrid, a regulated payment platform registered as a Money Service Business (MSB) in the US. Cybrid manages the Know Your Customer (KYC) process, ensuring that personal information of customers is handled securely without being collected, stored, or processed by Theya.
Sriram Bhargav Karnati, co-founder of Theya, expressed excitement about the new feature, stating, "It's a significant step forward in making Bitcoin acquisition accessible and secure. We aim to empower users with choices in managing their Bitcoin and provide tools that make self-custody straightforward, powerful, and user-friendly."
For more information on Theya and Karnati, explore our Founders piece on the company and its co-founder.
Frequently Asked Questions
How much should you have of gold in your portfolio
The amount of capital that you require will determine how much money you can make. You can start small by investing $5k-10k. As you grow, you can move into an office and rent out desks. You don't need to worry about paying rent every month. You only pay one month.
Consider what type of business your company will be running. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. If you are doing this type of thing, it is important to think about how much you can expect from each client.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. You may get paid just once every 6 months.
You need to determine what kind or income you want before you decide how much of it you will need.
I recommend starting with $1k to $2k of gold, and then growing from there.
What is a Precious Metal IRA (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.
Precious metals are sometimes called “bullion.” Bullion refers only to the actual metal.
Bullion can be purchased via a variety of channels including online sellers, large coin dealers, and grocery stores.
You can invest directly in bullion with a precious metal IRA instead of buying shares of stock. This ensures that you will receive dividends each and every year.
Precious metal IRAs have no paperwork or annual fees. Instead, your gains are subject to a small tax. You also have unlimited access to your funds whenever and wherever you wish.
Should You Invest Gold in Retirement?
The answer depends on how much money you have saved and whether gold was an investment option available when you started saving. If you are unsure which option to choose, consider investing in both options.
Gold offers potential returns and is therefore a safe investment. It is a good choice for retirees.
Although most investments promise a fixed rate of return, gold is more volatile than others. Because of this, gold's value can fluctuate over time.
However, it doesn't necessarily mean that you shouldn't invest your money in gold. Instead, it just means you should factor the fluctuations into your overall portfolio.
Another benefit of gold is that it's a tangible asset. Gold can be stored more easily than stocks and bonds. It's also portable.
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.
A portion of your savings can be invested in something that doesn't go down in value. Gold tends to rise when the stock markets fall.
Another benefit to investing in gold? You can always sell it. Like stocks, you can sell your position anytime you need cash. You don’t even need to wait until retirement to liquidate your position.
If you do decide to invest in gold, make sure to diversify your holdings. Don't put all your eggs on one basket.
Also, don't buy too much at once. Start with a few ounces. Add more as you're able.
Remember, the goal here isn't to get rich quickly. Instead, the goal here is to build enough wealth to not need to rely upon Social Security benefits.
Even though gold is not the best investment, it could be an excellent addition to any retirement plan.
What precious metal is best for investing?
The answer to this question depends on how much risk you are willing to take and what type of 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. If patience and time are your priorities, silver is the best investment.
If you don’t desire to become rich quickly, gold may be your best option. However, silver might be a better option if you're looking for an investment that provides steady returns over long periods.
Can I keep physical gold in an IRA?
Gold is money and not just paper currency. 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 use gold as part of a diversified portfolio because gold tends to do better during financial turmoil.
Today, many Americans invest in precious metals such as gold and silver rather than 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. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. Gold was one asset that outperformed stocks in turbulent market conditions.
Another benefit to investing in gold? It has virtually zero counterparty exposure. Your shares will still be yours even if your stock portfolio drops. If you have gold, it will still be worth your shares even if the company in which you invested defaults on its debt.
Finally, gold offers 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 take advantage of the short-term fluctuations that occur in the gold markets.
Statistics
- 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)
- 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)
- 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)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
External Links
cftc.gov
finance.yahoo.com
irs.gov
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement accounts
How To
Tips for Investing In Gold
Investing in Gold has become a very popular investment strategy. There are many advantages to investing in Gold. There are many ways to invest gold. Some people choose to purchase gold coins physically, while some prefer to invest with gold ETFs.
Before you purchase any type or gold, here are some things to think about.
- First, verify that your country permits gold ownership. If you have permission to possess gold in your country, you can then proceed. You might also consider buying gold in foreign countries.
- Second, it is important to know which type of gold coin you are looking for. You can go for yellow gold, white gold, rose gold, etc.
- Third, consider the cost of gold. It is better to start small, and then work your way up. You should diversify your portfolio when buying gold. Diversifying your portfolio includes stocks, bonds, mutual funds, real estate, commodities, and mutual funds.
- Lastly, you should never forget that gold prices change frequently. Keep an eye on current trends.
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By: Frank Corva
Title: Theya Introduces Direct-To-Wallet Bitcoin Purchases
Sourced From: bitcoinmagazine.com/business/theya-introduces-direct-to-wallet-bitcoin-purchases-
Published Date: Wed, 21 Aug 2024 14:32:43 GMT
