SwissGold Crypto AG, a Swiss-regulated crypto issuer, has introduced an innovative solution to address the challenge of wealth preservation during times of inflation and uncertainty. The company is offering gold-backed non-fungible tokens (NFTs) as a means to protect wealth.
The Enduring Stability of Gold
Gold has been a trusted wealth preserver for centuries due to its enduring stability, unlike depreciating fiat currencies. Following the US President's decision in 1971 to abandon the gold standard, major fiat currencies have suffered significant devaluation, with the dollar losing as much as 97% of its value against gold.
Rising Interest in Alternative Assets
As inflation rates rise, there has been a surge in interest in alternative assets such as gold and cryptocurrencies. While cryptocurrencies are known for their volatility, gold remains a stable and reliable refuge during times of crisis, hyperinflation, conflict, or natural disasters.
Physical Allocation of Gold
Gold used as a crisis insurance should be physically allocated, as the paper gold market, which is much larger than the available physical gold, can result in shortages during crises. SwissGold Crypto AG addresses this concern by placing gold bars of all sizes on the blockchain as non-fungible tokens (NFTs).
Secure and Flexible Gold Ownership
SwissGold NFTs provide a secure and flexible means of owning and trading gold. These NFTs are backed by physical gold bars and can be purchased for as low as $60 for a 1-gram gold bar. The token holders can redeem their NFTs for the physical gold bars they represent at any time, without incurring any storage fees.
Features of SwissGold NFTs
SwissGold NFTs offer additional features to enhance the ownership experience. Each NFT includes the serial number of the corresponding gold bar, providing authenticity and traceability. Furthermore, a metaverse-compatible 3D representation of the gold bar is included for virtual display.
Acquiring SwissGold NFTs
To acquire SwissGold NFTs, visit the website swissgold.io. The platform accepts various cryptocurrencies and fiat currencies. The gold backing the NFTs is securely stored in Switzerland's high-security vaults, ensuring peace of mind for the token holders.
A Pragmatic Alternative for Wealth Preservation
SwissGold's gold-backed NFTs offer a pragmatic alternative for preserving wealth during uncertain times. The solution benefits from Switzerland's stable and secure economic environment, providing individuals with a reliable avenue to protect their wealth.
For media inquiries, please contact:
About SwissGold Crypto AG
SwissGold Crypto AG is a Swiss-regulated crypto issuer based in Zug, Switzerland's Crypto Valley. The company specializes in gold-backed NFTs, offering individuals a secure and flexible way to own and trade gold in a digital format, backed by physical gold bars. For more information, visit swissgold.io.
Frequently Asked Questions
What are the fees associated with an IRA for gold?
An Individual Retirement Account (IRA) fee is $6 per month. This includes account maintenance fees and investment costs for your chosen investments.
If you want to diversify, you may be required to pay extra fees. These fees can vary depending on which type of IRA account you choose. Some companies offer checking accounts for free, while others charge monthly fees for IRA account.
Many providers also charge annual management fees. These fees are usually between 0% and 1%. The average rate is.25% each year. These rates can often be waived if a broker, such as TD Ameritrade, is involved.
Who owns the gold in a Gold IRA?
The IRS considers gold owned by an individual to be “a type of money” and is subject taxation.
You must have gold at least $10,000 and it must be stored for at the least five years in order to take advantage of this tax-free status.
Gold can be used to protect against inflation and price volatility. However, it is not a good idea to own gold if you don't intend to use it.
If you are planning to sell your gold someday, it is necessary that you report its value. This can affect the capital gains taxes that you owe when cashing in on investments.
Consult a financial advisor or accountant to determine your options.
How Do You Make a Withdrawal from a Precious Metal IRA?
First, determine if you would like to withdraw money directly from an IRA. After that, you need to decide if you want to withdraw funds from an IRA account. Next, make sure you have enough money in order for you pay any fees or penalties.
An IRA is not the best option if you don't mind paying a penalty for early withdrawal. Instead, open a taxable brokerage. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, figure out how much money will be taken out of your IRA. This calculation is affected by many factors, such as the age at which you withdraw the money, the amount of time the account has been owned, and whether your plans to continue contributing to your retirement fund.
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.
Once you have completed these calculations, you need to open your brokerage account. To encourage customers to open accounts, brokers often offer signup bonuses and promotions. It is better to open an account with a debit than a creditcard in order to avoid any unnecessary fees.
When it's time to make withdrawals from your precious-metal IRA, you'll need a place to keep your coins safe. While some storage facilities accept bullion bars and others require that you purchase individual coins, others will allow you to store your coins in their own safe. You will need to weigh each one before making a decision.
For example, storing bullion bars requires less space because you aren't dealing with individual coins. However, you'll need to count every coin individually. On the flip side, storing individual coins allows you to easily track their value.
Some people prefer to keep their coins in a vault. Others prefer to place them in safe deposit boxes. Whichever method you choose, make sure you store your bullion safely so you can enjoy its benefits for years to come.
What is a Precious Metal IRA (IRA)?
You can diversify your retirement savings by investing in precious metal IRAs. This allows you to invest in gold, silver and platinum as well as iridium, osmium and other rare metals. These metals are known as “precious” because they are rare and extremely valuable. These are good investments for your cash and will help you protect yourself from economic instability and inflation.
Bullion is often used to refer to precious metals. Bullion refers actually to the metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
With a precious metal IRA, you invest in bullion directly rather than purchasing shares of stock. This allows you to receive dividends every year.
Precious Metal IRAs don’t require paperwork nor have annual fees. Instead, your gains are subject to a small tax. You also have unlimited access to your funds whenever and wherever you wish.
- (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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- Want to Keep Gold in Your IRA at Home? It's not legal – WSJ
- Fraud Advisory: Precious Metals Fraud
Title: SwissGold Crypto AG Launches Gold-Backed NFTs for Wealth Preservation
Sourced From: news.bitcoin.com/swissgold-crypto-ag-launches-gold-backed-nfts-for-wealth-preservation/
Published Date: Tue, 07 Nov 2023 12:15:30 +0000