Discover how River, a bitcoin-only brokerage, has set itself apart by prioritizing security, quality services, and custodial control over client funds.
Building on Bitcoin Ethos
River's success lies in its commitment to the Bitcoin ethos, emphasizing the importance of "not your keys, not your coins." By developing its own custody systems and operating as a financial institution, River ensures the highest level of security for client assets.
The Engineer Behind the Vision
Alexander Leishman, the mastermind behind River, brings a wealth of technical expertise to the table. With a background in aerospace engineering and computer science from Stanford, Leishman's diverse experience includes roles in robotics engineering, cryptography research, and software security engineering.
A Focus on Security
Leishman's primary focus is on risk management and system improvement. He emphasizes the need to actively address potential vulnerabilities and continuously enhance security measures to safeguard client assets. This proactive approach sets River apart in an industry plagued by security breaches and trust issues.
Challenging Centralized Power Structures
Leishman's journey into Bitcoin was fueled by a desire to challenge centralized banking systems. His deep dive into Austrian economics and monetary policy led him to Bitcoin, a decentralized alternative that resonated with his vision of financial sovereignty.
From Concept to Creation
After immersing himself in the Bitcoin industry in the Bay Area, Leishman embarked on a mission to build River—a platform that combines top-notch security with user-friendly features. By integrating Lightning Network capabilities and a robust multisig security model, River offers a seamless and secure bitcoin experience.
Engineering Excellence
Leishman's engineering background shines through in River's infrastructure, setting the brokerage apart from its competitors. By developing proprietary custodial solutions and Lightning wallets, River gives clients unparalleled control over their assets and transactions.
Future Vision and Focus
As Bitcoin evolves as a store of value, River continues to refine its brokerage services to meet growing demand. Leishman envisions a future where Bitcoin seamlessly integrates with the fiat system, facilitating easy conversions and enhancing user experience.
With a relentless focus on security, innovation, and user-centric design, River is poised to revolutionize the way users interact with Bitcoin and cryptocurrency.
Frequently Asked Questions
Can I store my Gold IRA at Home?
Investing in an online brokerage account is the best way to keep your money safe. You have all the investment options you’d get if you had a traditional broker. However, you don’t require any licenses or qualifications. There are no fees to invest.
You can also use free tools offered by many online brokers to manage your portfolio. Online brokers will allow you to download charts so that you can see the performance of your investments.
Are precious-metal IRAs a good option?
Answers will depend on the amount of risk you are willing and able to take in order for your IRA account to lose value. If you have $10,000 cash, they make sense as long as you don’t expect your IRA account to grow rapidly. These may not be the best option if you are looking to save for retirement over many decades and invest in assets that will increase in value (e.g. gold). These investments can also be subject to fees that could reduce any gains.
Which type or type of IRA would be best?
The most important thing when choosing an IRA for you is to find one that fits within your goals and lifestyle. You need to decide whether you want to maximize tax deduction on your contributions, minimize taxes now but pay penalties later, and if you just want to avoid taxes.
If you have little money to invest, the Roth option might make sense. The Roth option is also a smart choice if you work beyond the age of 59 1/2 and plan to pay income tax on any withdrawals.
Traditional IRAs might be more beneficial if you are looking to retire early. You’ll likely owe income taxes. However, if your goal is to retire early, the traditional IRA might be more sensible. The Roth IRA allows you to withdraw some of your earnings or all without paying taxes.
Statistics
- 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)
- You can only purchase gold bars of at least 99.5% purity. (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)
External Links
regalassets.com
wsj.com
investopedia.com
takemetothesite.com
How To
How to Determine if a Gold IRA is Right for You
Individual Retirement accounts (IRAs) are the most common type of retirement account. IRAs may be obtained from financial planners or banks as well as mutual funds and banks. The IRS allows individuals to contribute up $5,000 annually without worrying about tax consequences. You can contribute this amount to any IRA regardless of your age. There are limitations on the amount of money that you can contribute to certain IRAs. For example, if your age is less than 591/2 years old, you can’t contribute to a Roth IRA. You must wait until your age 70 1/2 to make contributions if you are under 50. In addition, some people who work for their employer may be eligible for matching contributions from their employer.
There are two main types of IRAs: Traditional and Roth. The traditional IRA allows you the opportunity to invest in stocks and bonds as well as other investments. However, the Roth IRA only allows you to invest after-tax dollars. Roth IRA contributions don’t get taxed as soon as they are made. However, withdrawals from a Roth IRA will be taxed again. Some people combine both of these accounts. Each type is different. There are pros and con’s to each. Before you decide which type of IRA is right for you, what are the pros and cons? Below are three important things to keep your mind on:
Traditional IRA Pros
- Companies have different options when it comes to contribution options
- Employer match possible
- Save more than $5,000 per Person
- Tax-deferred Growth until Withdrawal
- May have restrictions based on income level
- Maximum contribution limit for married couples is $5500 annually ($6,500 jointly).
- The minimum investment required is $1,000
- You must start receiving mandatory distributions after age 70 1/2
- An IRA can only be opened by someone who is at least five years older than you.
- Cannot transfer assets from IRAs
Roth IRA Pros:
- Contributions do not attract taxes
- Earnings grow tax-free
- There are no minimum distribution requirements
- Investment options are limited to stocks, bonds, and mutual funds
- There is no maximum contribution limit
- There are no restrictions for transferring assets between IRAs
- You must be at least 55 to open an IRA
It is important to understand that not all companies offer the exact same IRAs when opening a new IRA. For example, you might be able to choose between a Roth IRA (or a traditional one) from some companies. Some will let you combine them. It’s also worth noting that different types of IRAs have different requirements. For example, a Roth IRA has no minimum investment requirement, whereas a traditional IRA requires a minimum investment of just $1,000.
The bottom line
It is important to decide whether you want taxes now or later when you choose an IRA. If you are retiring within ten year, a traditional IRA could be the right option. Otherwise, a Roth IRA may be better suited for you. Whatever your situation, it’s a good idea that you consult a professional about retirement planning. An expert can advise you on the best options and how to navigate the market.
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By: Frank Corva
Title: River: The Bitcoin Brokerage Revolutionizing Security and Custody
Sourced From: bitcoinmagazine.com/business/river-a-bitcoin-brokerage-built-from-the-ground-up
Published Date: Tue, 20 Aug 2024 20:32:26 GMT
