PRESS RELEASE. Iskra is a web3 community gaming platform that has raised $40M from Korean tech giants Krust and Wemade, Netmarble and LINE Studio. It plans to host its first Token Generation Event on global exchange Gate.io. TGE will take place on Thursday, September 29th, 2022 at 9:00 UTC.
This TGE is a significant milestone for the project. Gate.io is proud to be a partner in this endeavor to create its ISK token value, provide global access, and to launch Iskra's main components. Iskra continues to make progress despite difficult market conditions and launched major components of its platform.
Eligible users can get up to 500,000 ISK Tokens as part of the Gate.io Startup Program. They can stake USDT beginning September 28th, 2022 at 6:00 AM UTC and continuing for 24 hours. Users can find more details on the Gate.io website (https://www.gate.io/startup).
Eugene Lee, CEO of Iskra, commented that "We are lucky to work with and launch one of the top ten trading exchanges in this world." Gate.io boasts over 10,000,000 users from over 224 countries, with an average daily trading volume of $12B +.
About Iskra
Iskra ( https://www.iskra.world ) is the Future of Play. Some of Korea's most prestigious technology and gaming companies have backed the Company. ISKRA's community-forward model aligns the interests of the community by rewarding its participants based on their participation and incorporating sustainable tokenomic solutions to game developers who join its platform. The Company also aims to bridge the gap between early adopters of web3 and mainstream users by combining enjoyment and sustainability with the most recent in blockchain technology.
About Gate.IO
Established in 2013, Gate.io (https://www.gate.io) is one of the oldest, leading cryptocurrency exchanges with over 10 million users worldwide, offering services including digital assets trade, decentralized finance, research and analytics, venture capital investing, labs, and more. It has been verified by the Blockchain Transparency Institute, (BTI) and consistently ranks among the top 10 cryptocurrency trading exchanges on CoinGecko based on liquidity. Gate.io has been rated 4.5 by Forbes Advisor in the Best Crypto Exchanges 2021.
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
Can I buy gold using my self-directed IRA
Although you can buy gold using your self-directed IRA account, you will need to open an account at a brokerage like TD Ameritrade. If you already have a retirement account, funds can be transferred to it.
Individuals can contribute as much as $5,500 per year ($6,500 if married filing jointly) to a traditional IRA. Individuals can contribute up to $1,000 annually ($2,000 if married and filing jointly) directly to a Roth IRA.
If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts, which are financial instruments based upon the price of gold, are financial instruments. You can speculate on future prices, but not own the metal. But physical bullion refers to real gold and silver bars you can carry in your hand.
How much money should my Roth IRA be funded?
Roth IRAs are retirement accounts that allow you to withdraw your money tax-free. These accounts are not allowed to be withdrawn before 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. First, your principal (the deposit amount originally made) is not transferable. This means that regardless of how much you contribute to an account, you cannot take out any more than you initially contributed. If you wish to withdraw more than you originally contributed, you will have to pay taxes.
You cannot withhold your earnings from income taxes. You will pay income taxes when you withdraw your earnings. 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. This would mean that you would have to pay $3,500 in federal income tax. You would have $6,500 less. This is the maximum amount you can withdraw because you are limited to what you initially contributed.
You would still owe tax on $1,500 if you took out $4,000 of your earnings. You'd also lose half the earnings that you took out, as they would be subject to a second 50% tax (half of 40%). So, even though you ended up with $7,000 in your Roth IRA, you only got back $4,000.
There are two types if Roth IRAs: Roth and Traditional. A traditional IRA allows for you to deduct pretax contributions of your taxable income. You can withdraw your contributions plus interest from your traditional IRA when you retire. There are no restrictions on the amount you can withdraw 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 required, unlike a traditional IRA. You don't need to wait until your 70 1/2 year old age before you can withdraw your contribution.
Should You Buy or Sell Gold?
Gold was considered a safety net for investors during times of economic turmoil in the past. Today, many people are looking to precious metals like gold and avoiding traditional investments like bonds and stocks.
Gold prices have been on an upward trend over recent years, but they remain relatively low compared to other commodities such as 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.
- First, consider whether or not you need the money you're saving for retirement. You can save money for retirement even if you don't invest in gold. That said, gold does provide an additional layer of protection when you reach retirement age.
- You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each account offers different levels of security and flexibility.
- Don't forget that gold does not offer the same safety level as a bank accounts. It is possible to lose your gold coins.
If you are thinking of buying gold, do your research. You should also ensure that you do everything you can to protect your gold.
Can I have physical gold in my IRA
Not only is gold paper currency, but it's also money. People have used gold as a currency for thousands of centuries to preserve their wealth and keep it safe from inflation. Gold is a part of a diversified portfolio that investors can use to protect their wealth from financial uncertainty.
Many Americans now invest in precious metals. It is possible to make money by investing in gold. However, it doesn't guarantee that you'll make a lot of money.
Gold has historically performed better during financial panics than other assets. Between August 2011 to early 2013, gold prices rose close to 100 percent while the S&P 500 fell 21 per cent. Gold was one asset that outperformed stocks in turbulent market conditions.
One of the best things about investing in gold is its virtually zero counterparty risk. If your stock portfolio goes down, you still own your shares. However, if you have gold, your value will rise even if the company that you invested in defaults on its loans.
Finally, the liquidity that gold provides is unmatched. This allows you to sell your gold whenever you want, unlike many other investments. Because gold is so liquid compared to other investments, buying it in small amounts makes sense. This allows one to take advantage short-term fluctuations within the gold price.
Is the government allowed to take your gold
Because you have it, the government can't take it. You earned it through hard work. It belongs to you. There may be exceptions to this rule. For example, if you were convicted of a crime involving fraud against the federal government, you can lose your gold. You can also lose precious metals if you owe taxes. However, even though your taxes have not been paid, you can still keep your precious metals, even though they are considered the property of United States Government.
How can I withdraw from a Precious metal IRA?
First decide if your IRA account allows you to withdraw funds. You should also ensure that you have enough money to cover any fees and penalties associated with withdrawing funds.
You should open a taxable brokerage account if you're willing to pay a penalty if you withdraw early. If you choose this option, you'll also need to consider taxes owed on the amount withdrawn.
Next, you need to determine how much money is going to be taken out from your IRA. The calculation is influenced by several factors such as your age at withdrawal, the length of time you have owned the account and whether or not you plan to continue contributing to retirement plans.
Once you know what percentage of your total savings you'd like to convert into cash, you'll need to determine which type of IRA you want to use. Traditional IRAs allow you to withdraw funds tax-free when you turn 59 1/2 while Roth IRAs charge income taxes upfront but let you access those earnings later without paying additional taxes.
Finally, you'll need to open a brokerage account once these calculations are completed. To encourage customers to open accounts, brokers often offer signup bonuses and promotions. You can save money by opening an account with a debit card instead of a credit card to avoid paying unnecessary fees.
When you finally get around to making withdrawals from your precious metal IRA, you'll need a safe place where you can store your coins. Some storage facilities can accept bullion bar, while others require you buy individual coins. You will need to weigh each one before making a decision.
Because you don't have to store individual coins, bullion bars take up less space than other items. However, each coin will need to be counted individually. On the flip side, storing individual coins allows you to easily track their value.
Some prefer to store their coins in a vault. Some people prefer to store their coins safely in a vault. Regardless of the method you prefer, ensure that your bullion is safe so that you can continue to enjoy its benefits for many years.
Who is entitled to the gold in a IRA that holds gold?
The IRS considers an individual who owns gold as holding “a form of money” subject to taxation.
This tax-free status is only available to those who have owned at least $10,000 of gold and have kept it for at minimum five years.
Owning gold can also help protect against inflation and price volatility, but it doesn't make sense to hold gold if you're not going to use it.
If you plan to sell the gold one day, you will need to report its worth. This will affect how much capital gains tax you owe on cash you have invested.
To find out what options you have, consult an accountant or financial planner.
Statistics
- 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)
- 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)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
External Links
irs.gov
investopedia.com
finance.yahoo.com
cftc.gov
How To
Guidelines for Gold Roth IRA
The best way to invest for retirement is by starting early. Start saving as soon and as often as you're eligible (usually around 50 years old) and keep going until retirement. It's vital to contribute enough money each year to ensure adequate growth on an ongoing basis.
Also, you want to take advantage tax-free options such as a traditional 401k, SEP IRA or SIMPLE IRA. These savings vehicles let you make contributions and not pay taxes until the earnings are withdrawn. This makes them a great choice for people who don’t have access employer matching funds.
The key is to save regularly and consistently over time. You'll miss out on any potential tax benefits if you're not contributing the maximum amount allowed.
—————————————————————————————————————————————————————————————-
By: Media
Title: Web3 Game Platform Iskra Raises $40M, Partners with Gate․io for Token Generation Event
Sourced From: news.bitcoin.com/web3-game-platform-iskra-raises-40m-partners-with-gate%e2%80%a4io-for-token-generation-event/
Published Date: Thu, 22 Sep 2022 05:00:38 +0000
