Exciting news for Albertans! Bow Valley Credit Union (BVCU) has teamed up with Balance and Bull Bitcoin to introduce Canada's first 'Bitcoin Gateway'. This innovative service allows BVCU members to purchase Bitcoin directly from their accounts hassle-free. Starting today, you can buy Bitcoin through your BVCU app, making it simple to invest in Bitcoin using Canadian dollars, even if you're not a tech expert. Plus, you retain full ownership of your Bitcoin.
Secure and Hassle-Free Bitcoin Purchases
Ownership and Security Guaranteed
The Bitcoin Gateway acts as a seamless link between BVCU, Balance, and Bull Bitcoin, providing a safe and user-friendly method to acquire real Bitcoin. Unlike other platforms, where you may not truly own the assets, your Bitcoin purchased through BVCU is yours to keep, secured, insured, and never used for leveraging. It's a game-changer for those looking to enter the crypto space without the complexities.
Partnership for Institutional Bitcoin Adoption
Facilitating Institutional Bitcoin Adoption
This collaboration marks a significant milestone for Bull Bitcoin, as it integrates the Bull Bitcoin API for institutional Bitcoin adoption. With Bull Bitcoin's expertise in providing fiat and Bitcoin liquidity, this partnership opens doors for a broader audience to embrace Bitcoin. Established in 2013, Bull Bitcoin is renowned in Canada for its commitment to user privacy and innovative solutions.
Embracing Innovation and Member-Centric Banking
Empowering Members to Diversify
Since 1953, Bow Valley Credit Union has been at the forefront of member-focused banking in Alberta. The introduction of the Bitcoin Gateway aligns with their ethos of challenging traditional banking models. This service offers members a practical means to hedge against inflation and expand their investment portfolios. It's a clear indicator of Bitcoin's increasing acceptance in mainstream finance.
Paving the Way for Widespread Bitcoin Adoption
Simplified Bitcoin Purchases for All
Albertans can now access the Bitcoin Gateway directly through their BVCU accounts, with early registration open. The ease of buying Bitcoin with just a few clicks sets a new standard for Canadian credit unions. This move not only accelerates Bitcoin adoption in Alberta but also hints at a future where every Canadian could have a personalized Bitcoin wallet, thanks to Balance's vision.
Leading the Change in Alberta's Financial Sector
Positioning as a Forward-Thinking Institution
As Bitcoin gains recognition as a reliable store of value, BVCU's initiative places them as a progressive force in Alberta's financial landscape. By embracing Bitcoin, they are showcasing their commitment to innovation and meeting the evolving needs of their members and the community.
Ready to explore the world of Bitcoin with Bow Valley Credit Union? Learn more about this groundbreaking initiative here.
Frequently Asked Questions
How can you withdraw from a Precious metal IRA?
If you have a precious IRA company such Goldco International Inc. account, you may be tempted to withdraw your funds. This will ensure that your metals are worth more than if they were in an account with a precious metal IRA company like Goldco International Inc.
Here is how to withdraw precious metal IRA funds.
First, determine whether the precious metal IRA provider allows withdrawals. Some companies allow this option, while others don't.
Second, find out if you are eligible for tax-deferred gains from selling your metals. This benefit is available from most IRA providers. Some IRA providers offer this benefit, but others don't.
To find out if fees apply, thirdly check with your precious-metal IRA provider. It is possible that the withdrawal will be more expensive.
Fourth, ensure that you keep track your precious metal IRA investment for at least 3 years after selling them. In other words, wait until January 1st each year to calculate capital gains on your investment portfolio. Fill out Form 8949 and follow the instructions to calculate how much gain you've realized.
In addition to filing Form 8949, you must also report the sale of your precious metals to the IRS. This will ensure that you pay taxes on any profit earned from your sale.
Consult a trusted attorney and accountant before selling your precious materials. They can help ensure you follow all necessary procedures and avoid costly mistakes.
Can I store my gold IRA account at home?
An online brokerage account will allow you to invest in the most secure way possible. You'll have access to all the same investment options as if you were working with a traditional broker, but you don't need special licenses or qualifications. Additionally, investing is free.
Online brokers often offer free tools to help manage your portfolio. Many online brokers allow you to download charts that will show how your investments are performing.
What are the pros & cons of a Gold IRA?
A gold IRA is an excellent investment vehicle for those who want to diversify their holdings but don't have access to traditional banking services. It allows investors to invest in precious materials such as gold and silver without paying tax on gains until they are withdrawn.
However, early withdrawals of funds will incur ordinary income tax. These funds are not held in the country so creditors cannot seize them if you default on your loan.
So if you like owning gold without worrying about taxes, a gold IRA may be right for you.
Are gold IRAs a good option for investment?
Purchase shares in mining companies to invest in precious metals like gold. These companies can make you money by investing in precious metals and gold.
But, owning shares in direct form has two downsides:
First, you can lose money by holding onto your stock for too long. Stocks can fall more than their underlying asset (like, gold) when they decline. This could mean that you lose money rather than making it.
Second, waiting for the market to recover before selling your gold holdings could result in you missing out on potential profits. It is possible to wait until the market recovers before selling your gold.
If you prefer to keep your investments apart from your finances, physical gold is still an option. A gold IRA will help protect your portfolio from inflation and diversify it.
Visit our website for more information on gold investing.
Can I add gold to my IRA?
Yes! It is possible to add gold to your retirement plans. Because gold doesn't lose its value over time, it is an excellent investment. It is also immune to inflation. It is also exempt from taxes.
Before you decide to invest in gold, it is important to understand that it isn't like other investments. Unlike stocks or bonds, you can't buy shares of gold companies. Nor can you sell them.
Instead, convert your precious metals to cash. You will have to get rid. You cannot keep it.
This makes gold different than other investments. As with other investments you can always make a profit and sell them later. That's not true with gold.
Even worse, gold cannot be used to secure loans. You may have to part with some of your gold if you take out mortgages.
What does all this mean? You can't hold onto your gold forever. You'll eventually need to convert it into cash.
There's no need to be concerned about this right now. All you have to do is open an IRA account. Then, you can invest in gold.
Statistics
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- The IRS also allows American Eagle coins, even though they do not meet gold's 99.5% purity standard. (forbes.com)
- The maximum yearly contribution to an individual's IRAs is currently $6,000 ($7,000 for those 50 years or older), or 100% of earned income, whichever is less. (monex.com)
- Depending on your financial situation, most experts recommend you invest no more than 5% to 10% of your retirement funds in precious metals. (forbes.com)
External Links
takemetothesite.com
regalassets.com
wsj.com
investopedia.com
How To
Things to Remember: Best Precious Metals Ira, 2022
Precious Metals Ira is one of the most popular investment options among investors. This article will explain what makes precious metals Ira so appealing and how you can make smart decisions when investing in them.
These assets are renowned for their long-term potential growth. Looking back at historical data, we see that gold prices have shown incredible returns. Gold prices have increased by almost $1900 per troy ounce in the past 200 year, from $20 an ounce to nearly $1900 over that time. Comparatively, the S&P 500 Index has only grown by approximately 50%.
Gold is also considered a haven during times of economic uncertainty. Stock market downturns cause people to sell their stocks and seek safety in gold. Gold is also seen as a hedge against inflation. Many economists believe that there will always be some degree of inflation. They believe that physical gold can be used to protect your savings against future price rises.
However, before you decide to buy precious metals like palladium and gold, as well as platinum, silver or gold, there are several things to be aware of. First, determine whether you are interested in investing in bullion bar coins or coins. Bullion bars are often purchased in large quantities (like 100 grams) and stored until needed. Coins are smaller versions of bullion bars, which can then be used to buy small amounts of bullion.
The second thing you need to consider is where you will store your precious metals. Some countries are safer than other. You might find it more sensible to store your precious materials overseas if you are a resident of the US. If you are thinking of storing your precious metals in Switzerland, however, you might be wondering why.
Finally, you should decide whether you want to invest directly in precious metals or through “precious metals exchange-traded funds” (ETFs). ETFs are financial instruments that track the performance of different commodities, such as gold. These can be used to gain exposure to precious metals, without the need to own them.
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By: Juan Galt
Title: Discover How Bow Valley Credit Union in Canada Makes Buying Bitcoin Easy for Albertans
Sourced From: bitcoinmagazine.com/news/bow-valley-credit-union-in-canada-turns-on-bitcoin-purchases-for-albertans
Published Date: Tue, 08 Jul 2025 17:01:00 +0000
