Changpeng Zhao (CZ), the founder and chief executive of cryptocurrency exchange Binance has announced that a new office will be opened in Romania. During his visit to Romania, he met high-ranking officials to highlight Binance's plans to expand its direct operations in Eastern Europe.
Binance launches Romanian-Language support this fall, Exchange CEO unveils in Bucharest
Binance, the largest crypto exchange in terms of trading volume, has opened a local office. CEO Changpeng Zhao disclosed this during his visit to Bucharest as part of a regional tour. Starting in October, the trading platform will offer a Romanian version its support service.
This move is part Binance's plan to expand in Eastern Europe. Binance already has 120 million users worldwide who use it to trade and buy various digital currencies.
Its founder, Profit.ro, stated that they want to be global and play in multiple markets. The Canadian-born crypto entrepreneur stressed that Eastern Europe was extremely important.
Binance opened operations last year in Bulgaria, Romania's southern neighbour. The crypto exchange has expanded its presence on other major Eastern European markets as well as countries in former Soviet space like Russia, Ukraine, and Kazakhstan.
Zhao pointed out that rising energy prices and inflation have drawn attention to cryptocurrencies in Europe. This means there are potential growth opportunities. Zhao believes that the crypto market is still in its infancy, and anticipates cryptocurrency payments to be more prominent.
Bucharest was the location where Binance's chief executive met Prime Minister Nicolae Ciuca and Sebastian Burduja, Minister of Digitalization. Regulators have been focusing their attention on the rapidly developing crypto industry. Zhao says that mere regulation will not eliminate these risks.
Due to worsening economic conditions and the conflict in Ukraine, market volumes dropped sharply this year. CZ doesn't know when this trend will stop, but he is more interested in increasing crypto users than price growth, the report states.
Are you positive that Binance will open offices elsewhere in Eastern Europe? Please comment below with your expectations.
Frequently Asked Questions
How much gold should your portfolio contain?
The amount of money you need to make depends on how much capital you are looking for. For a small start, $5k to $10k is a good range. You could then rent out desks and office space as your business grows. This way, you don't have to worry about paying rent all at once. It's only one monthly payment.
Also, you need to think about the type of business that you are going to run. In my case, I run a website-creation company. Our clients pay us between $1000-2000/month and depending on their order. This is why you should consider what you expect from each client if you're doing this kind of thing.
Because freelance work pays freelancers, you won't likely get a monthly income if you do freelance work. So you might only get paid once every 6 months or so.
Decide what kind of income do you want before you calculate how much gold is needed.
I would recommend that you start with $1k-2k worth of gold and then increase your wealth.
Can I hold physical gold in my IRA?
Not just paper money or coins, gold is money. People have been using gold for thousands of years to store their wealth and protect it from economic instability and inflation. Investors today use gold to diversify their portfolios because gold is more resilient to financial turmoil.
Many Americans are now more inclined to invest in precious metals like gold and silver than stocks or bonds. While owning gold doesn't guarantee you'll make money investing in gold, there are several reasons why it may make sense to consider adding gold to your retirement portfolio.
One reason is that gold historically performs better than other assets during financial panics. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. During those turbulent market conditions, gold was among the few assets that outperformed stocks.
The best thing about gold investing is the fact that there's virtually no counterparty risk. Your stock portfolio can fall, but you will still own your shares. If you have gold, it will still be worth your shares even if the company in which you invested defaults on its debt.
Finally, gold provides liquidity. This allows you to sell your gold whenever you want, unlike many other investments. It makes sense to buy small quantities of gold, as it is more liquid than other investments. This allows for you to benefit from the short-term fluctuations of the gold market.
What is a Precious Metal IRA, and how can you get one?
A precious metal IRA lets you diversify your retirement savings to include gold, silver, palladium, rhodium, iridium, osmium, osmium, rhodium, iridium and other rare metallics. These are called “precious” metals because they're very hard to find and very valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are often referred to as “bullion.” Bullion refers only to the actual metal.
Bullion can be bought via various channels, such as online retailers, large coin dealers and grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. This will ensure that you receive annual dividends.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. You pay only a small percentage of your gains tax. You also have unlimited access to your funds whenever and wherever you wish.
Should you Invest In Gold For Retirement?
How much money you have saved, and whether or not gold was an option when you first started saving will determine the answer. If you are unsure which option to choose, consider investing in both options.
In addition to being a safe investment, gold also offers potential returns. It is a good choice for retirees.
Although most investments promise a fixed rate of return, gold is more volatile than others. This causes its value to fluctuate over time.
However, this does not mean that gold should be avoided. It is important to consider the fluctuations when planning your portfolio.
Another benefit to gold? It's a tangible asset. Unlike stocks and bonds, gold is easier to store. It can be easily transported.
You can always access gold as long your place it safe. There are no storage charges for holding physical gold.
Investing in gold can help protect against inflation. It's a great way to hedge against rising prices, as gold prices tend to increase along with other commodities.
It's also a good idea to have a portion your savings invested in something which isn't losing value. Gold usually rises when stocks fall.
Investing in gold has another advantage: you can sell it anytime you want. You can easily liquidate your investment, just as with stocks. You don't even need to wait for your retirement.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
Don't buy too many at once. Start with just a few drops. Add more as you're able.
Remember, the goal here isn't to get rich quickly. It's not to get rich quickly, but to accumulate enough wealth to no longer need Social Security benefits.
While gold may not be the best investment, it can be a great addition to any retirement plan.
Statistics
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
cftc.gov
bbb.org
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
investopedia.com
- Are You a Good Candidate for a Gold IRA
- What are the Options Types, Spreads and Example. Risk Metrics
How To
Tips for Investing with Gold
One of the most sought-after investment strategies is investing in gold. This is due to the many benefits of investing in gold. There are many ways to invest gold. Some people prefer to buy gold coins in physical form, while others prefer to invest in gold ETFs.
Before you purchase any type or gold, here are some things to think about.
- First, check to see if your country permits you to possess gold. If the answer is yes, you can go ahead. Otherwise, you can look into buying gold from abroad.
- The second thing you need to do is decide what type of gold coins you want. You have options: you can choose from yellow gold, white or rose gold.
- Thirdly, it is important to take into account the gold price. Start small and move up. You should diversify your portfolio when buying gold. Diversifying your portfolio includes stocks, bonds, mutual funds, real estate, commodities, and mutual funds.
- Remember that gold prices are subject to change regularly. You need to keep up with current trends.
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By: Lubomir Tassev
Title: Binance Founder CZ Announces Romanian Office as Part of Regional Expansion
Sourced From: news.bitcoin.com/binance-founder-cz-announces-romanian-office-as-part-of-regional-expansion/
Published Date: Thu, 22 Sep 2022 07:00:38 +0000
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