Hey there, crypto enthusiasts! Today, we're diving into the exciting news that Bitcoin's price remains strong at over $115,000. What's causing this stability? Well, it turns out that Spain's banking powerhouse, BBVA, has joined forces with Binance, the world's largest crypto exchange, to offer top-notch custody services. Let's explore how this collaboration is shaping the crypto landscape.
Enhanced Security Through Strategic Partnership
The Winning Formula: Binance x BBVA
Imagine this: Binance customers can now safeguard their assets in U.S. Treasury securities, courtesy of BBVA, one of Spain's leading banks. This move is a game-changer as it allows for secure margin trading while keeping assets safe from exchange-related risks.
Building Trust in the Crypto Realm
Rebuilding Confidence Post-Regulatory Settlement
Following a hefty $4.3 billion settlement with U.S. regulators in 2023, Binance has been on a mission to restore trust. By partnering with custodians like Sygnum and FlowBank, the exchange is ramping up security measures and transparency for clients.
Empowering Institutional Confidence in Crypto
BBVA's Crypto Crusade
BBVA isn't holding back in the crypto arena. By offering crypto services via its mobile app and encouraging clients to invest up to 7% in Bitcoin, the bank is championing the institutional adoption of digital assets.
Ready to take the crypto world by storm, the Binance-BBVA collaboration sets a gold standard for security in the industry. By blending traditional banking practices with crypto platforms, this partnership paves the way for more institutional players to embrace the crypto market with peace of mind.
Shaping the Future of Crypto Trading
Ushering in a New Era of Institutional Participation
The ripple effects of the Binance-BBVA alliance are profound. As more public companies add Bitcoin to their balance sheets and innovative financial instruments enter the market, the line between traditional finance and crypto blurs, enticing hesitant institutional investors to join the digital asset revolution.
Amidst this buzz, Bitcoin's trading volumes show stability, with prices hovering around $115,000-$116,000. The market's nonchalant response signals a maturing industry where institutional integrations are becoming the norm.
Exciting times lie ahead as the crypto landscape evolves with each strategic partnership. Will we see more banks and exchanges team up for enhanced security? Keep an eye on how these collaborations shape the future of digital assets!
Frequently Asked Questions
How much should you have of gold in your portfolio
The amount of capital required will affect the amount you make. Start small with $5k-10k. As you grow, you can move into an office and rent out 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. In my case, we charge clients between $1000-2000/month, depending on what they order. So if you do this kind of thing, you need to consider how much income you expect from each client.
You won't get a monthly paycheck if you work freelance. This is because freelancers are paid. Therefore, you might only get paid one time every six months.
Decide what kind of income do you want before you calculate how much gold is needed.
I recommend starting with $1k-$2k in gold and working my way up.
How Much of Your IRA Should Be Made Up Of Precious Metals
It's important to understand that precious metals aren't only for wealthy people. You don’t need to have a lot of money to invest. There are many methods to make money off of silver and gold investments.
You might think about buying physical coins such a bullion bar or round. Shares in precious metals-producing companies could be an option. You may also be interested in an IRA transfer program offered by your retirement provider.
Regardless of your choice, you'll still benefit from owning precious metals. These metals are not stocks, but they can still provide long-term growth.
And unlike traditional investments, they tend to increase in value over time. So, if you decide to sell your investment down the road, you'll likely see more profit than you would with traditional investments.
Do You Need to Open a Precious Metal IRA
It is essential to be aware of the fact that precious metals do not have insurance coverage before opening an IRA. You cannot recover any money you have invested. This includes any loss of investments from theft, fire, flood or other circumstances.
This type of loss can be avoided by investing in physical silver and gold coins. These coins have been around for thousands and represent a real asset that can never be lost. You would probably get more if you sold them today than you paid when they were first created.
You should choose a reputable firm that offers competitive rates. It is also a smart idea to use a third-party trustee who will help you have access to your assets at all times.
Remember that you will not see any returns unless you are retired if you open an Account. Do not forget about the future!
Who holds the gold in a gold IRA?
The IRS considers anyone who owns gold to be “a form money” and therefore subject to taxation.
To take advantage of this tax-free status, you must own at least $10,000 worth of gold and have been storing it for at least five years.
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 plan to eventually sell the gold, you'll need a report on its value. This could impact the amount of capital gains taxes your owe if you cash in your investments.
A financial planner or accountant should be consulted to discuss your options.
What is a Precious Metal IRA (IRA)?
A precious metal IRA allows for you to diversify your retirement savings in gold, silver, palladium and iridium. These metals are known as “precious” because they are rare and extremely valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are sometimes called “bullion.” Bullion is the physical metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. You'll get dividends each year.
Precious Metal IRAs don’t require paperwork nor have annual fees. Instead, you pay only a small percentage tax on your gains. Additionally, you have access to your funds at no cost whenever you need them.
Can I buy gold with my self-directed IRA?
While you can purchase gold from your self-directed IRA (or any other brokerage firm), you must first open a brokerage account such as TD Ameritrade. You can also transfer funds from another retirement account if you already have one.
The IRS allows individuals contributing up to $5.500 each ($6,500 if married, filing jointly) into a traditional IRA. Individuals can contribute up to $1,000 annually ($2,000 if married and filing jointly) directly to a Roth IRA.
If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts are financial instruments that are based on gold's price. You can speculate on future prices, but not own the metal. You can only hold physical bullion, which is real silver and gold bars.
Can the government seize your gold?
You own your gold and therefore the government cannot seize it. You have earned it by working hard for it. It belongs exclusively to you. But, this rule is not universal. For example, if you were convicted of a crime involving fraud against the federal government, you can lose your gold. Also, if you owe taxes to the IRS, you can lose your precious metals. However, even if taxes are not paid, gold is still your property.
Statistics
- 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)
- 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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- (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)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
irs.gov
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement funds
finance.yahoo.com
forbes.com
How To
Investing in gold or stocks
Investing in gold as an investment vehicle might seem like a very risky proposition these days. Many people believe that investing in gold is not profitable. This belief comes from the fact most people see gold prices falling due to the global economy. They believe they would lose their money if they invested gold. There are many benefits to investing in gold. Let's take a look at some of the benefits.
Gold is one of the oldest forms of currency known to man. It has been in use for thousands of year. It was used by many people around the globe as a currency store. Even today, countries such as South Africa continue to rely heavily on it as a form of payment for their citizens.
The first point to consider when deciding whether or not you should invest in gold is what price you want to pay per gram. If you're interested in buying gold bullion, it is crucial that you decide how much per gram. If you don’t know the current market rate for gold bullion, you can always consult a local jeweler to get their opinion.
It's also important to note that, although gold prices are down in recent months, the costs of producing it have risen. The price of gold may have fallen, but the production costs haven’t.
When deciding whether to buy gold, another thing to consider is how much gold you intend on buying. For example, if you only intend to purchase enough to cover your wedding rings, it probably makes sense to hold off on buying any gold. This is not a wise decision if you're looking to invest in long-term assets. Selling your gold at a higher value than what you bought can help you make money.
We hope our article has given you a better understanding of gold as an investment tool. 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: Vivek Sen
Title: Bitcoin Price Holds Steady at $115,000 as BBVA Teams Up with Binance for Secure Custody Solutions
Sourced From: bitcoinmagazine.com/markets/bitcoin-price-stays-about-115000-as-spains-banking-giant-bbva-partners-with-binance-to-provide-custody
Published Date: Fri, 08 Aug 2025 16:13:07 +0000
