Hey there, crypto enthusiasts! Exciting news on the horizon as Bitcoin maintains its impressive position above $115,000. The world of cryptocurrency is abuzz with the recent partnership announcement between Binance, the renowned crypto exchange, and Spain's very own BBVA bank. This collaboration brings forth a game-changing development in the realm of digital asset security.
Enhanced Security Measures for Investors
The Power of Third-Party Custody
Picture this: You decide to store your most prized possessions in a state-of-the-art safe deposit box. Now, imagine Binance customers gaining the ability to safeguard their assets in U.S. Treasury securities, courtesy of BBVA, Spain's third-largest bank. This move not only elevates security standards but also revolutionizes how investors perceive risk in the trading landscape.
The Road to Rebuilding Trust
Stricter Controls and Greater Transparency
Following a significant $4.3 billion settlement with U.S. regulators due to anti-money laundering violations, Binance has been hard at work rebuilding trust. By implementing stringent controls and offering clearer fund management disclosures, including collaborations with trusted custodians like Sygnum and FlowBank, the exchange is setting new industry benchmarks.
BBVA's Crypto Leap
Encouraging Institutional Confidence
BBVA's foray into the crypto realm doesn't stop at custody services. The bank's proactive stance recommending private clients to allocate up to 7% of their portfolios to Bitcoin and other digital assets showcases a growing institutional embrace of crypto investments. This bold move speaks volumes about the evolving landscape of traditional finance merging with the crypto world.
Paving the Way for Institutional Adoption
Setting a New Security Standard
The partnership between Binance and BBVA sets a gold standard for crypto exchange security. By fusing traditional banking infrastructure with cutting-edge crypto platforms, this collaboration creates a secure and regulated environment that could entice more institutional investors into the crypto space.
Are you ready to dive headfirst into the world of secure crypto investments? The future is bright, and with the right partners by your side, your digital assets will stay safe and sound. Let's embrace this new era of financial innovation together!
Frequently Asked Questions
How do I open a Precious Metal IRA
It is best to open an IRA with precious metals through a Roth Individual Retirement Account.
This type of account is better than other types of IRAs because you don't have to pay any taxes on the interest you earn from your investments until you withdraw them.
This makes it appealing to those who want to both save money and get a tax cut.
You don't have to invest in silver or gold. You can put your money in almost any item that meets the IRS guidelines.
Many people think only of silver and gold when they hear the word “precious metallic” but there are other types.
These include palladium, platinum, rhodium,osmium,iridium, andruthenium.
There are many ways that you can invest precious metals. There are two main options: buying bullion bars and coins, and purchasing shares in mining companies.
Bullion Coins or Bars
One of your easiest ways to get into precious metals is to purchase bullion coins. Bullion refers to physical ounces (or grams) of gold and/or silver.
You get actual bullion bars and coins when you purchase bullion coins.
While you might not see any change in your pocket after you purchase bullion coins and bars at a store, you will notice some benefits over time.
For example, you'll get a piece of history in a tangible form. Each coin or bar has its own story.
If you compare the nominal value to face value, you will often find that it is worth much less than its nominal. When it was first introduced in 1986, the American Eagle Silver Coin cost only $1.00 per troy ounce. The price of an American Eagle is now closer to $40.00 a ounce.
Bullion's price has risen dramatically since its inception, so many investors would rather invest in bullion coins than futures.
Mining Companies
Investing in shares of mining companies is another great option for those looking to buy precious metals. When you invest in mining companies, you are investing in the company's ability to produce gold and silver.
You will get dividends based off the company's profits in return. These dividends are then used to pay shareholders.
Additionally, you will be able to take advantage of the company's potential growth. As demand for the product increases, so should the share prices of your company.
It is crucial to diversify your portfolio because these stocks are subject to price fluctuations. This means spreading your risk across multiple companies.
It's important to remember, however, that mining companies can still be subject to financial losses, just as any other stock market investment.
If gold prices drop dramatically, your ownership share could be worthless.
The Bottom Line
Precious Metals such as gold or silver offer a safe haven in times of economic uncertainty.
Silver and gold, however, can experience wild swings in their prices. A precious metals IRA account is a good option for long-term investment.
You can enjoy tax benefits while still owning tangible assets.
How does gold and silver IRA work?
You can invest in precious metals like gold and silver without having to pay taxes. People who want to diversify portfolios will find them attractive investments.
You do not have to pay income tax on interest earned from these accounts if you are over 59 1/2. Capital gains tax is not required for any appreciation in account value. You have to limit the amount you can deposit into this type account. The minimum amount you can put into this account is $10,000. Under 59 1/2 years old, you can't make any investments. The maximum annual contribution is $5,500.
Your beneficiaries might not receive the full amount of your account if your death occurs before you retire. After paying all expenses, your assets must be sufficient to cover the remaining balance in your account.
Some banks offer a silver and gold IRA option. Others require you open a regular broker account, through which shares or certificates can be purchased.
Is it a good idea to have an IRA that holds gold and silver?
This is a great option if you're looking for an easy way of investing in both silver and gold simultaneously. There are many other options. You can contact us at any time with questions about these types investments. We're always glad to help!
How much of your portfolio should be in precious metals?
Protect yourself against inflation by investing in physical gold. Because you are buying into the future value of precious metals and not the current price, when you invest in them, it is a way to protect yourself from inflation. The value of your investment increases with rising prices.
Any gains you make from investments that you hold onto for at least five year will be tax-free. After that time, capital gains taxes will be due. Learn more about how you can buy gold coins on our website.
Can I add gold to my IRA?
Yes, it is possible! You can add gold into your retirement plan. Gold is an excellent investment because it doesn't lose value over time. It is also immune to inflation. It doesn't come with taxes.
Before you invest in gold, make sure to understand its differences from other investments. You can't buy shares in companies that make gold unlike bonds or stocks. These shares can also be not sold.
Instead, you should convert your gold to cash. This means that you must get rid of your gold. It is not possible to keep it.
This is what makes gold unique from other investments. Like other investments, you can always dispose of them later. But that's not the case with gold.
Worse, the gold cannot be used as collateral for loans. To cover a mortgage, you may need to give up some gold.
What does this all mean? You can't keep your gold indefinitely. You'll have to turn it into cash at some point.
But there's no reason to worry about that now. To open an IRA, all you need is to create one. You can then invest in gold.
Statistics
- Silver must be 99.9% pure • (forbes.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.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
kitco.com
takemetothesite.com
en.wikipedia.org
wsj.com
How To
How to start buying silver with your IRA
How to buy silver with an IRA – Direct ownership of physical bullion is the best way to invest. The most popular investment form is silver bars and coins. This is because it offers diversification and liquidity.
There are many options to buy precious metals like silver and gold. They can be purchased directly from the producers (mining companies or refiners). You can also purchase them through a dealer, who buys and sellers bullion products, if you don’t want to deal directly with the producer.
This article will help you to start investing silver with your IRA.
- Investing Directly in Gold & Silver – This is the first way to get precious metals directly from their source. This means that you can get the bullion straight from the source, and it will be delivered directly to your front door. While some investors prefer to keep their bullion inside their homes, others choose to store it in a storage facility that is insured and protected. When you hold onto your precious metal, ensure you're storing it properly. Many storage facilities offer insurance coverage for fire, theft, damage, and other risks. But, even with insurance, you can lose your investments because of natural disasters and human error. This is why it is a good idea for precious metals to be stored in a safe deposit container at a bank/credit union.
- Buying Precious Metals Online – If you'd rather avoid carrying around heavy boxes of precious metal, then one alternative is to buy bullion online. Bullion dealers can sell bullion in various forms, including bars or coins. There are many different types of coins. Coins are generally easier to transport than bars and more affordable. There are many different sizes and weights available for bars. Some bars weigh hundreds of pounds, while others only weigh a few ounces. It is important to think about what you intend to use the bar for when choosing the type of bar that you should buy. A smaller size bar might work well if you are giving it away as a present. If you are looking to add it as a gift, or to proudly display it, you may want to spend a bit more and buy something larger.
- Dealers for Precious Metal – The third option is to buy bullion direct from dealers. Most dealers only specialize in one type of market, either silver or gold. Some dealers specialize exclusively in certain types or bullion, like rounds or minted money. Others may specialize in specific areas. And yet others specialize in bulk purchases. Regardless of which dealer you choose, you'll likely find that they offer competitive prices and convenient payment methods.
- Buying Precious Metallics Through Retirement Accounts – While not technically considered an “investment,” another way to gain exposure to precious metals is by investing in retirement accounts. For Section 219 to receive tax benefits, you must have a qualified retirement fund that invests in precious metallics. These include IRAs as well 403(b), 401(k), and 403 (b) plans. These accounts are designed to help you save for retirement and often provide higher returns than other investment vehicles. In addition, most of these accounts allow you to diversify your holdings across multiple metals. The drawback? Retirement accounts don't allow everyone to invest. Only people who work for employers that sponsor them can invest in these accounts.
—————————————————————————————————————————————————————————————-
By: Vivek Sen
Title: Bitcoin Price Holds Steady at $115,000: BBVA Teams Up with Binance for Secure Custody Services
Sourced From: bitcoinmagazine.com/markets/bitcoin-price-stays-about-115000-as-spains-banking-giant-bbva-partners-with-binance-to-provide-custody
Published Date: Fri, 08 Aug 2025 16:13:07 +0000
