Empowering Gamers Beyond the Screen
The GameSwift team is proud to present GS Pay, a groundbreaking payment system and bank card that seamlessly converts in-game treasures into real money, creating a world where gaming fuels real-life purchases. As the gaming sector continues to grow exponentially, the distinction between reality and virtual worlds is becoming increasingly blurred. Gaming is no longer just entertainment; it is a transformative experience, and GameSwift is leading the way.
With GS Pay, our goal is to bridge the gap between the gaming universe and the physical world, empowering gamers to use their hard-earned digital items as currency for everyday expenses like shopping, food, and bills. GS Pay, in conjunction with the virtual currency 'G-BUCKS', is designed for seamless integration within games, applications, and online stores. This unified system, powered by G-BUCKS, provides a transformative experience for Web3 gamers.
In addition, GS Pay transcends the boundaries between Web2 and Web3, allowing users to effortlessly pay for anything they desire, whether it's a gaming asset or a dinner with friends. GS Pay offers more than just a convenient payment experience for gamers; it also provides perks like higher APY, discounts, airdrop multipliers, and more.
Unveiling The Technology Behind GS Pay
At the heart of GS Pay is our exclusive technology that enables gamers to monetize and cash out their in-game assets seamlessly. Our intuitive dashboard displays in-game digital assets, complete with information about each item's value. In the Mainnet stage, with just a single click, gamers can convert their assets into actual money on their GS Pay bank card.
The GS Pay system consists of two key components: the GameSwift Wallet and the GameSwift Card. Moreover, our technology covers all technical aspects, including handling gas fees and bridging assets to exchanges or marketplaces for conversion. The off-ramping process also utilizes zero-knowledge proof technology, ensuring the privacy and security of converting crypto assets to fiat.
A Comprehensive Payment System
Integrated into the GameSwift Platform, GS Pay streamlines fund placement and withdrawal for users. This versatile system supports various services, such as ordering a payment card, making in-game purchases, and utilizing both off-ramp and on-ramp gateways. Users can conveniently deposit funds into their accounts using traditional methods or blockchain technology through crypto wallets.
There are some important dates to note: access for whitelisted users will be granted on December 20th, the Open Phase begins on December 21st, a return to 7 days of unbounding is scheduled for December 22nd, and the first phase concludes on December 23rd. Phase 1 has 888 available spots, with a lock-in period of 3 months plus 7 days unbounding.
GameSwift is a leading innovator in the gaming industry, committed to providing high-quality solutions that redefine the gaming experience. Our platform is built on the convergence of blockchain innovation, a passion for gaming, a strong technological foundation, and decentralized financial technologies. By seamlessly integrating these enabling technologies, we present the future of Web3 gaming.
GS Pay has the potential to revolutionize how gamers engage with and monetize their hobby. GameSwift is excited to introduce this innovative product to the market, simplifying the monetization of in-game assets in the real world without requiring blockchain expertise. We firmly believe in empowering users, and GS Pay is a testament to that commitment.
For more information, please visit GameSwift's official website, as well as our X, Discord, YouTube, LinkedIn, Medium, and Telegram channels for regular updates.
This is a press release. Readers should conduct their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Frequently Asked Questions
Is it possible to make money with a gold IRA.
It is important to first understand the market in order to be able to invest and secondly to identify what products are currently available.
If you don't know, you shouldn't start trading until you are sure you have enough information to trade successfully.
A broker should offer the best service for each account type.
There are many accounts available, including Roth IRAs and standard IRAs.
A rollover may be an option if you have other investments like stocks or bonds.
How to 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 superior to other types of IRAs in that you don't pay any taxes on the interest earned from your investments, until you withdraw them.
It is attractive for people who want to save money, but need a tax break.
You are not restricted to investing only in gold or silver. You can invest anywhere you wish, as long as it is within the IRS guidelines.
Many people think only of silver and gold when they hear the word “precious metallic” but there are other types.
There are many examples: palladium; platinum; rhodium; osmium; iridium; ruthenium.
There are many ways to invest in precious materials. Two of the most popular ways to invest in precious metals are buying bullion coin and bar coins, and also purchasing shares in mining corporations.
Bullion Coins, Bars
One of the most straightforward ways to invest is to buy bullion coin and bars. Bullion is a generic term that refers only to physical ounces in gold or silver.
When you buy bullion coins and bars, you receive actual pieces of the metal itself.
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 and bar is unique.
When you look at face value of the coin, you'll often find that it's worth far less than its nominal value. In 1986, the American Eagle Silver Coin was $1.00 per ounce. Today, however, the American eagle's price is closer to $40.00 per an ounce.
Since the value of bullion has increased dramatically since its introduction, many investors prefer buying bullion coins and bullion bars rather than futures contracts.
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.
In return, you will receive dividends based on the company's profits. These dividends will then go towards paying out shareholders.
In addition, you will benefit from the growth potential of the company. As demand for the product increases, so should the share prices of your company.
These stocks can fluctuate in value so it is important to diversify your portfolio. This means you can spread your risk to multiple companies.
But, remember that mining companies, like all stock market investments, are susceptible to financial loss.
If gold prices drop significantly, your share of ownership could be worthless.
The Bottom Line
Precious metals like gold and silver can provide safety during economic uncertainty.
But, silver and gold can be subject to price swings. If you are interested in long-term investing in precious metals, open a precious Metals IRA account at a reputable firm.
You can enjoy tax benefits while still owning tangible assets.
What precious metals can you invest in for retirement?
The first step to retirement planning is understanding what you have saved now and where you are saving money. Start by listing everything you have. This should include any savings accounts, stocks, bonds, mutual funds, certificates of deposit (CDs), life insurance policies, annuities, 401(k) plans, real estate investments, and other assets such as precious metals. Then add up all of these items to determine how much you have available for investment.
If you are younger than 59 1/2, you might want to open a Roth IRA account. Traditional IRAs allow you to deduct contributions out of your taxable income. Roth IRAs don't. But, future earnings won't allow you to take tax deductions.
If you decide that you need more money you'll need another investment account. Start with a regular brokerage account.
What kind of IRA can you use to hold precious metals in?
An Individual Retirement Account (IRA) is an investment vehicle most employers and financial institutions offer. A IRA is a way to make money and allow it to grow tax-deferred, until you withdraw it.
An IRA lets you save taxes and pay them off later. This means more money deposited into your retirement plan today versus having to pay taxes on that money tomorrow.
The beauty of an IRA is that contributions and earnings grow tax-free until you withdraw the funds. If you do withdraw the funds earlier than that, you will be subject to penalties.
You can also contribute to your IRA beyond age 50 without penalty. You'll owe income tax and a 10% federal penalty if you withdraw from your IRA in retirement.
Refunds received before the age of 591/2 are subject to a penalty of 5% from the IRS. Between the ages of 591/2 and 70 1/2, withdrawals are subject to a 3.4% IRS penal.
A 6.2% IRS penalty applies to withdrawals exceeding $10,000 per annum.
- 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)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that 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)
- 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)
- 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)
How to Start Buying Silver with Your IRA
How to purchase silver with your IRA – The best way of investing in silver and gold is to directly own physical bullion. Because they provide liquidity and diversification, silver bars and coins are the most preferred form of investment, however, many prefer to own physical bullion rather than paper certificates or electronic currencies.
There are many options available if you wish to purchase precious metals such as gold and silver. They can be purchased directly from the producers (mining companies or refiners). If you don't want the hassle of dealing with a producer directly, you can purchase them from a dealer that buys and trades bullion products.
This article will help you to start investing silver with your IRA.
- Investing in Gold & Silver through Direct Ownership – The best way to purchase precious metals is to directly go to the source. This means that you can get the bullion straight from the source, and it will be delivered directly to your front door. Some investors store their bullion in their home. Others choose to store their bullion in a safe storage location that is insured and protected. You should ensure that your precious metal is properly stored when you are preserving it. Most storage facilities offer insurance coverage that protects against theft, fire, or damage. 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.
- Online Precious Metals Buying – If you prefer not to transport heavy boxes of precious metal around, then buying bullion online is an option. Bullion dealers sell bullion online in many forms, including coins or bars. There are many different types of coins. Generally speaking, coins are easier to carry around and less expensive than bars. There are many sizes and weights of bars. Some bars are heavy and weigh hundreds of pounds while others only weigh a few grams. When choosing which bar to buy, it is important to consider what you will use it for. It might be a good idea to choose something smaller if it is intended to be given as a gift. On the other hand, if you want to add it to your collection and display it proudly, you might want to spend a little extra money and get something larger.
- Precious Metals From Dealers – A third option to buying bullion is from a dealer. Most dealers are experts in one part of the market: gold or silver. Some dealers are experts in specific types of bullion such as rounds and minted coins. Others are more skilled in certain regions. Some specialize in bulk purchasing. You will be able to find competitive prices and simple payment options no matter who dealer you choose.
- Buy Precious Metallics from Retirement Accounts. While technically not an “investment”, it's possible to invest in retirement accounts to gain exposure. Investments in precious metals must be made through a qualified retirement plan to receive tax benefits as per Section 219 of IRS Code. These accounts can be IRAs, 401 (k)s or 403 (3(b) plans). These accounts can offer better returns than other investment options because they are specifically designed to help you save money for retirement. These accounts also allow you to diversify across multiple metals. But what's the downside? You can't invest in retirement accounts. These accounts can only be opened by employees who are sponsored by their employers.
Title: Introducing GS Pay: The Revolutionary Payment System Bridging Web2 and Web3
Sourced From: news.bitcoin.com/gameswift-introduces-gs-pay-to-bridge-the-gap-between-web2-and-web3-payments/
Published Date: Tue, 19 Dec 2023 18:00:26 +0000