Alchemy Pay: Global Fiat-Crypto Services
Alchemy Pay has launched its fiat-crypto on-ramp payment services on Bitcoin.com’s web portal. The integration of Alchemy Pay's direct-to-customer plugin on the web portal allows for easy integration and deployment by web3 apps and platforms. This integration supports the purchase of various cryptocurrencies, including Bitcoin.com’s rewards and utility token VERSE. The introduction of new local payment methods by Alchemy Pay will significantly contribute to the expansion of Bitcoin.com's reach.
Bitcoin.com: A Global Leader
Bitcoin.com, a global leader since 2015, has been at the forefront of introducing newcomers to the world of cryptocurrency. It has made buying, spending, trading, investing, earning, and staying up-to-date on cryptocurrency and the future of finance easy for everyone. Bitcoin.com's multichain digital wallet app is used by millions worldwide to buy, sell, trade, earn, use, and learn about Bitcoin and other cryptocurrencies. With its self-custodial digital wallet, Bitcoin.com provides every feature needed for economic freedom.
Alchemy Pay’s Extensive Payment Gateway
Alchemy Pay's payment gateway enables seamless payments using Visa, Mastercard, Discover, and Diners Club across 173 countries. Additionally, it supports domestic transfers and mobile wallets in developing markets. The user-friendly KYC process, low fees, and exceptional conversion rates make buying and selling cryptocurrencies with local currencies as convenient as any typical online payment. Alchemy Pay's extensive network comprises over 300 fiat payment channels, allowing its checkouts to go beyond card payments and tap into local mobile wallet options.
Partnership to Enhance Accessibility
Bitcoin.com CEO Dennis Jarvis emphasized the importance of user-centric solutions and highlighted the seamless fiat-crypto transition with an expanded range of local payment options brought by Alchemy Pay's integration. This partnership is especially crucial for users in Asia and LATAM. As the 2024 Bitcoin halving approaches, Bitcoin.com remains committed to staying ahead of the curve and prioritizing the needs of its community. The collaboration between Bitcoin.com and Alchemy Pay aims to make cryptocurrency more accessible globally.
VERSE: Bitcoin.com’s Rewards and Utility Token
Launched in December 2022, VERSE is Bitcoin.com’s rewards and utility token. The VERSE token offers various utilities, including unlocking rewards along tiers, serving as a method of payment in the Bitcoin.com ecosystem and beyond, granting access to exclusive platform services, and more. Bitcoin.com's decentralized exchange, Verse DEX, allows users worldwide to permissionlessly swap cryptocurrencies without relying on third-party custodians. Additionally, Verse DEX users can earn yield by providing liquidity, depositing liquidity pool (LP) tokens into Verse Farms, and staking VERSE tokens.
Try Alchemy Pay’s On & Off-Ramp
To experience the convenience of buying and selling crypto and local fiat currencies, try Alchemy Pay's On & Off-Ramp on the web or in the app today. Alchemy Pay's reliable and user-friendly solution makes it simple for individuals to engage in cryptocurrency transactions.
For developers of Web3 platforms and dApps interested in integrating Alchemy Pay’s ramp solution, please visit the website and contact us via the provided contact form.
Follow Alchemy Pay on their official channels to stay updated with the latest developments:
– Website
– Twitter
– LinkedIn
– Medium
– YouTube
– Telegram
– Discord
Please note that this is a press release, and readers are advised to conduct their own due diligence before taking any actions related to the promoted company or its services. Bitcoin.com is not responsible for any damage or loss caused by the use of or reliance on any content, goods, or services mentioned in this press release.
Frequently Asked Questions
Is gold buying a good retirement option?
Although buying gold as an investment might not sound appealing at first, when you look at the average annual gold consumption worldwide, it is worth looking into.
The most popular form of investing in gold is through physical bullion bars. However, there are many other ways to invest in gold. It is best to research all options and make informed decisions based on your goals.
If you don’t have the funds to invest in safe places, such as a safe deposit box or mining equipment companies, buying shares of these companies might be a better investment. If you need cash flow to finance your investment, then gold stocks could be a good option.
ETFs are an exchange-traded investment that allows you to gain exposure to the market for gold. You hold gold-related securities and not actual gold. These ETFs often include stocks of gold miners, precious metals refiners, and commodity trading companies.
How do you withdraw from an IRA that holds precious metals?
You first need to decide if you want to withdraw money from an IRA account. Make sure you have enough cash in your account to cover any fees, penalties, or charges that may be associated with withdrawing money from an IRA.
Consider opening a taxable brokerage instead of an IRA if it is possible to pay a penalty if your withdrawal is made before the deadline. If you choose this option, you'll also need to consider taxes owed on the amount withdrawn.
Next, you'll need to figure out how much money you will take out of your IRA. This calculation will depend on many factors including your age at the time of withdrawal, how long the account has been in your possession, and whether you plan to continue contributing towards your retirement plan.
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 for you to withdraw funds without tax when you turn 59 1/2. Roth IRAs, on the other hand, charge income taxes upfront but you can access your earnings later and pay no additional taxes.
Finally, you'll need to open a brokerage account once these calculations are completed. Brokers often offer promotional offers and signup bonuses to encourage people into opening accounts. Avoid unnecessary fees by opening an account with your debit card, rather than your credit card.
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. Either way, you'll need to weigh the pros and cons of each before choosing one.
Bullion bars, for example, require less space as you're not dealing with individual coins. However, each coin will need to be counted individually. However, you can easily track the value of individual coins by storing them in separate containers.
Some prefer to store their coins in a vault. Others prefer to store their coins in a vault. No matter what method you use, it is important to keep your bullion safe so that you can reap its benefits for many more years.
What should I pay into my Roth IRA
Roth IRAs are retirement accounts where you deposit your own money tax-free. The account cannot be withdrawn from until you are 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, you cannot touch your principal (the original amount deposited). This means that regardless of how much you contribute to an account, you cannot take out any more than you initially contributed. If you take out more than the initial contribution, you must pay tax.
The second rule is that your earnings cannot be withheld without income tax. Withdrawing your earnings will result in you paying taxes. Consider, for instance, that you contribute $5,000 per year to your Roth IRA. Let's further assume you earn $10,000 annually after contributing. On the earnings, you would be responsible for $3,500 federal income taxes. This leaves you with $6,500 remaining. You can only take out what you originally contributed.
You would still owe tax on $1,500 if you took out $4,000 of your earnings. On top of that, you'd lose half of the earnings you had taken out because they would be taxed again at 50% (half of 40%). So even though your Roth IRA ended up having $7,000, you only got $4,000.
Two types of Roth IRAs are available: Roth and traditional. A traditional IRA allows you to deduct pre-tax contributions from your taxable income. To withdraw your retirement contribution balance plus interest, your traditional IRA is available to you. A traditional IRA can be withdrawn up to the maximum amount allowed.
A Roth IRA doesn't allow you to deduct your contributions. You can withdraw your entire contribution, plus accrued interests, after you retire. There is no minimum withdrawal amount, unlike traditional IRAs. You don't have to wait until you turn 70 1/2 years old before withdrawing your contribution.
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 are “precious metals” because they are hard to find, and therefore very valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are sometimes called “bullion.” 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.
You can invest directly in bullion with a precious metal IRA instead of buying shares of stock. You'll get dividends each year.
Precious metal IRAs do not require paperwork nor annual fees, unlike regular IRAs. Instead, you pay only a small percentage tax on your gains. Plus, you can access your funds whenever you like.
What are the benefits of a Gold IRA?
The best way to invest money for retirement is by putting it into an Individual Retirement Account (IRA). You can withdraw it at any time, but it is tax-deferred. You have total control over how much each year you take out. There are many types of IRAs. Some are better suited for people who want to save for college expenses. Others are designed for investors looking for higher returns. Roth IRAs let individuals contribute after age 591/2 and pay tax on any earnings at retirement. However, once they begin withdrawing funds, these earnings are not taxed again. This account may be worth considering if you are looking to retire earlier.
A gold IRA is similar to other IRAs because it allows you to invest money in various asset classes. Unlike a regular IRA where you pay taxes on gains, a gold IRA doesn't require you to worry about taxation while you wait to get them. For people who would rather invest than spend their money, gold IRA accounts are a good option.
Another advantage to owning gold via an IRA is the ease of automatic withdraws. This eliminates the need to constantly make deposits. To ensure that you never miss a payment, you could set up direct debits.
Finally, gold remains one of the best investment options today. It is not tied to any country so its value tends stay steady. Even during economic turmoil the gold price tends to remain fairly stable. As a result, it's often considered a good choice when protecting your savings from inflation.
Is gold a good choice for an investment IRA?
Any person looking to save money is well-served by gold. It is also an excellent way to diversify you portfolio. But gold has more to it than meets the eyes.
It has been used throughout the history of currency and remains a popular payment method. It is often called “the oldest currency in the world.”
Gold, unlike other paper currencies created by governments is mined directly from the earth. It's hard to find and very rare, making it extremely valuable.
The supply and demand for gold determine the price of gold. The strength of the economy means people spend more, and so, there is less demand for gold. As a result, the value of gold goes up.
On the flip side, people save cash for emergencies and don't spend it. This causes more gold to be produced, which lowers its value.
This is why it makes sense to invest in gold for individuals and companies. If you invest in gold, you'll benefit whenever the economy grows.
Your investments will also generate interest, which can help you increase your wealth. Additionally, you won't lose cash if the gold price falls.
How to Open a Precious Metal IRA
The first step is to decide if you want an Individual Retirement Account (IRA). Open the account by filling out Form 8606. You will then need to complete Form 5204 in order to determine which type IRA you are eligible. This form must be submitted within 60 days of the account opening. Once this has been completed, you can begin investing. You might also be able to contribute directly from the paycheck through payroll deduction.
To get a Roth IRA, complete Form 8903. Otherwise, it will be the same process as an ordinary IRA.
You'll need to meet specific requirements to qualify for a precious metals IRA. The IRS says you must be 18 years old and have earned income. Your annual earnings cannot exceed $110,000 ($220,000 if you are married and file jointly) for any tax year. And, you have to make contributions regularly. These rules apply to contributions made directly or through employer sponsorship.
You can invest in precious metals IRAs to buy gold, palladium and platinum. You can only purchase bullion in physical form. This means you won't be allowed to trade shares of stock or bonds.
You can also use your precious metals IRA to invest directly in companies that deal in precious metals. This option can be provided by some IRA companies.
There are two major drawbacks to investing via an IRA in precious metals. They aren't as liquid as bonds or stocks. This makes them harder to sell when needed. Second, they don't generate dividends like stocks and bonds. So, you'll lose money over time rather than gain it.
Statistics
- (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)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- 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)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- 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)
