Huobi Global, the largest exchange in terms of volume traded, announced a partnership to make it more convenient for Latam-based customers who want to purchase cryptocurrencies. Astropay, a payment platform that allows customers to buy cryptocurrency in Latam with fiat currencies, has been partnered with the exchange.
Huobi makes Crypto easier to Buy in Latam
Huobi aims to appeal to Latam-based customers looking to get into the cryptocurrency market. Astropay, the payment processing platform that allows customers to buy crypto in fiat currency in certain countries, has announced a partnership between Huobi, the leading crypto exchange.
Astropay wallet will be required to buy the assets. Customers can do this in Brazil, Mexico and Chile as well as Peru. According to the company, there will be support for various payment methods, such as bank transfers and credit and debit cards. Other options, such as Pix in Brazil and SPEI Mexico, that are specific to a region will be supported.
The company aims to provide a better service for customers who are based in the region. Huobi Global's chief financial officer Lily Zhang stated that this is the reason:
Latin America is home to a vibrant, young population that is enthusiastic about crypto and we have seen a significant rise in Huobi Global users hailing from this region.
Zhang stated that the company's goal is to make the purchase and trade of digital assets "a secure, convenient and enjoyable experience for everybody."
Jumping through hoops
Huobi will now compete with regional exchanges and peer-to-peer (peer to peer) offers in the region. Huobi has an advantage in acquiring users because they accept local payment options. Access to debit cards that are dollar-based or international is not easy in countries like Venezuela. This makes Binance P2P a viable option, which allows Venezuelans access to crypto using their fiat currency. There have been exchange restrictions in Argentina that could affect availability of foreign currency.
Chainalysis's recent report shows that some Latam countries are among the top 20 most crypto-adopted nations. Brazil ranks seventh, while countries such as Argentina are also included.
What do you think of Huobi's partnership with Astropay to facilitate fiat-tocrypto transactions in Latam Leave a comment below.
Frequently Asked Questions
What is a Precious Metal IRA and How Can You Benefit From It?
A precious metal IRA allows for you to diversify your retirement savings in gold, silver, palladium and iridium. These rare metals are often called “precious” as they are very difficult to find and highly valuable. They are great investments for your money, and they can protect you from inflation or economic instability.
Precious metals are often referred to as “bullion.” 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 ensures that you will receive dividends each and every year.
Precious metal IRAs have no paperwork or annual fees. Instead, your gains are subject to a small tax. You can also access your funds whenever it suits you.
How much should you have of gold in your portfolio
The amount of capital that you require will determine how much money you can make. A small investment of $5k-10k would be a great option if you are looking to start small. As your business grows, you might consider renting out office space or desks. This way, you don't have to worry about paying rent all at once. You just pay per month.
It is also important to decide what kind of business you want to run. My company is a website creator. We charge our clients about $1000-2000 per monthly depending on what they order. Consider how much you expect to make from each client, if you decide to do this kinda thing.
As freelance work requires you to be paid freelancers, your monthly salary won't be as high as mine. Therefore, you might only get paid one time every six months.
You must first decide what kind and amount of income you are looking to generate before you can calculate how much gold will be needed.
I recommend starting with $1k-$2k in gold and working my way up.
What are the benefits of a gold IRA
A gold IRA has many benefits. It is an investment vehicle that can diversify your portfolio. You can control how much money is deposited into each account as well as when it's withdrawn.
You also have the option to roll over funds from other retirement accounts into a gold IRA. This is a great way to make a smooth transition if you want to retire earlier.
The best part is that you don't need special skills to invest in gold IRAs. These IRAs are available at all banks and brokerage houses. You do not need to worry about fees and penalties when you withdraw money.
There are also drawbacks. Gold is historically volatile. It is important to understand why you are investing in gold. Are you seeking safety or growth? Is it for security or long-term planning? Only by knowing the answer, you will be able to make an informed choice.
If you want to keep your gold IRA open for life, you might consider purchasing more than one ounce. You won't need to buy more than one ounce of gold to cover all your needs. Depending upon what you plan to do, you could need several ounces.
You don't have to buy a lot of gold if your goal is to sell it. Even a single ounce can suffice. But you won't be able to buy anything else with those funds.
How does a gold IRA account work?
The Gold Ira Accounts are tax-free investment options for those who want to make investments in precious metals.
Physical gold bullion coin can be purchased at any time. To start investing in gold, it doesn't matter if you are retired.
Owning gold as an IRA has the advantage of allowing you to keep it forever. Your gold assets will not be subjected tax upon your death.
Your heirs will inherit your gold, and not pay capital gains taxes. It is not required that you include your gold in the final estate report because it remains outside your estate.
To open a Gold IRA, you'll need to first set up an Individual Retirement Account (IRA). Once you've completed this step, an IRA administrator will be appointed to your account. This company acts as a middleman between you and the IRS.
Your gold IRA custodian will handle the paperwork and submit the necessary forms to the IRS. This includes filing annual reports.
After you have created your gold IRA, the only thing you need to do is purchase gold bullion. Minimum deposit is $1,000 A higher interest rate will be offered if you invest more.
You will pay taxes when you withdraw your gold from your IRA. If you take out the whole amount, you'll be subject to income taxes as well as a 10 percent penalty.
A small percentage may mean that you don't have to pay taxes. There are exceptions. There are some exceptions. For instance, if you take out 30% or more from your total IRA assets, federal income taxes will apply plus a 20 percent penalty.
You should avoid taking out more than 50% of your total IRA assets yearly. You'll be facing severe financial consequences if you do.
What does gold do as an investment?
Gold's price fluctuates depending on the supply and demand. Interest rates also have an impact on the price of gold.
Due to the limited supply of gold, prices for gold are highly volatile. Physical gold is not always in stock.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (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)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
External Links
irs.gov
finance.yahoo.com
wsj.com
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- How do you keep your IRA Gold at Home? It's Not Exactly Legal – WSJ
cftc.gov
How To
Investing In Gold vs. Investing In Stocks
Investing in gold as an investment vehicle might seem like a very risky proposition these days. This is because many people believe gold is no longer financially profitable. This belief is due to the fact that many people see gold prices dropping because of the global economy. They fear that investing in gold will result in a loss of money. There are many benefits to investing in gold. Here are some examples.
The oldest form of currency known to mankind is gold. Its use can be traced back to thousands of years ago. People around the world have used it as a store of value. As a means of payment, South Africa and many other countries still rely on it.
When deciding whether to invest in gold, the first thing you need to do is to decide what price per gram you are willing to pay. When looking into buying gold bullion, you must decide how much you are willing to spend per gram. You could contact a local jeweler to find out what their current market rate is.
It's worth noting, however, that while gold prices have fallen recently the cost of producing gold is on the rise. So while the price of gold has declined, production costs haven't changed.
It is important to keep in mind the amount you plan to purchase of gold when you're weighing whether or not it is worth your time. If you intend to only purchase enough gold to cover your wedding rings it may be a smart decision to not buy any gold. However, if you are planning on doing so for long-term investments, then it is worth considering. It is possible to make a profit by selling your gold at higher prices than when you purchased it.
We hope this article helped you to gain a better appreciation of gold as a tool for investment. Before making any investment decisions, we strongly advise that you thoroughly research all options. Only after doing so can you make an informed decision.
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By: Sergio Goschenko
Title: Huobi Partners With Astropay to Facilitate Fiat Payments in Latam
Sourced From: news.bitcoin.com/huobi-partners-with-astropay-to-facilitate-fiat-payments-in-latam/
Published Date: Fri, 23 Sep 2022 05:30:00 +0000
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