Alchemy Pay: Facilitating Global Fiat-Crypto Services
Alchemy Pay, a leading fintech company, has recently launched its fiat-crypto on-ramp payment services on Bitcoin.com's web portal. This collaboration allows users to seamlessly transition between traditional fiat currencies and cryptocurrencies. With Alchemy Pay's direct-to-customer plugin, web3 apps and platforms can easily integrate and deploy the payment services, providing users with a wide range of cryptocurrency options. Notably, this includes Bitcoin.com's rewards and utility token, VERSE. By offering new local payment methods, Alchemy Pay aims to expand the reach of Bitcoin.com and cater to the needs of users in Asia and LATAM.
According to Bitcoin.com CEO Dennis Jarvis, this integration aligns with their commitment to user-centric solutions. He emphasizes the importance of providing an expanded range of local payment options and staying ahead of the curve, especially as the 2024 Bitcoin halving approaches. The partnership with Alchemy Pay reinforces Bitcoin.com's dedication to meeting the needs of its community.
Alchemy Pay's payment gateway is designed to enable seamless transactions using popular payment methods such as Visa, Mastercard, Discover, and Diners Club. This gateway is available in 173 countries and supports domestic transfers and mobile wallets in developing markets. With a user-friendly KYC process, low fees, and exceptional conversion rates, Alchemy Pay aims to make buying and selling cryptocurrencies as convenient as typical online payments. The company's extensive network includes over 300 fiat payment channels, allowing users to tap into local mobile wallet options and go beyond traditional card payments.
Established in Singapore in 2017, Alchemy Pay offers a range of solutions, including its On & Off-Ramp solution, NFT Checkout, and white label Crypto Cards for platforms. The company's collaboration with Bitcoin.com, a prominent player in the industry, highlights its commitment to making cryptocurrencies more accessible globally.
Bitcoin.com: Pioneering the Global Crypto Landscape
Bitcoin.com has been a trailblazer in the cryptocurrency space since 2015. The platform has played a crucial role in introducing newcomers to the world of crypto, simplifying processes such as buying, spending, trading, investing, and earning cryptocurrencies. Bitcoin.com's multichain digital wallet app, used by millions of users worldwide, offers a comprehensive suite of features for economic freedom in a self-custodial digital wallet.
As part of its ecosystem, Bitcoin.com introduced VERSE, a rewards and utility token, in December 2022. The VERSE token serves various purposes, including unlocking rewards across tiers, facilitating transactions within the Bitcoin.com ecosystem, accessing exclusive platform services, and more. Bitcoin.com's decentralized exchange, Verse DEX, allows users to swap cryptocurrencies without relying on third-party custodians. Additionally, Verse DEX users have the opportunity to earn yield by providing liquidity through depositing liquidity pool (LP) tokens into Verse Farms and staking VERSE tokens.
Exploring Alchemy Pay's On & Off-Ramp
Web3 developers and dApp creators interested in integrating Alchemy Pay's ramp solution can easily get in touch through the official website, https://alchemypay.org/contact. Alchemy Pay's team is readily available to address any inquiries related to the On & Off-Ramp solution.
Conclusion
The collaboration between Alchemy Pay and Bitcoin.com marks a significant milestone in the crypto industry. By providing seamless fiat-crypto transition services and expanding the range of local payment options, this partnership aims to make cryptocurrencies more accessible to users globally. With Alchemy Pay's extensive payment network and Bitcoin.com's leadership in the crypto space, users can expect enhanced convenience and flexibility when engaging with digital assets.
Frequently Asked Questions
How Much of Your IRA Should Include Precious Metals?
You should remember that precious metals are not only for the wealthy. They don't require you to be wealthy to invest in them. There are many ways that you can make money with gold and silver investments, even if you don't have much money.
You might also be interested in buying physical coins, such bullion rounds or bars. It is possible to also purchase shares in companies that make precious metals. Your retirement plan provider may offer an IRA rollingover program.
You can still get benefits from precious metals regardless of what choice you make. Although they aren’t stocks, they offer the possibility for long-term gains.
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.
Is the government allowed to take your gold
You own your gold and therefore the government cannot seize it. You worked hard to earn 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. You can also lose precious metals if you owe taxes. You can keep your gold even if your taxes are not paid.
Can I purchase gold with my self directed IRA?
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. You can also transfer funds from another retirement account if you already have one.
The IRS allows individuals to contribute as high as $5,500 ($6,500 if they are married and jointly) to a traditional IRA. Individuals are allowed to contribute $1,000 each ($2,000 if married or filing jointly) to a Roth IRA.
You might want to purchase physical bullion, rather than futures contracts if you are going to invest in gold. Futures contracts, which are financial instruments based upon the price of gold, are financial instruments. They let you speculate on future price without having to own the metal. You can only hold physical bullion, which is real silver and gold bars.
How is gold taxed in an IRA?
The fair market value of gold sold is the basis for tax. You don't have tax to pay when you buy or sell gold. It isn't considered income. If you sell it later, you'll have a taxable gain if the price goes up.
Gold can be used as collateral for loans. Lenders seek to get the best return when you borrow against your assets. This often means selling gold. It's not guaranteed that the lender will do it. They may hold on to it. They may decide to resell it. You lose potential profits in either case.
If you plan on using your gold as collateral, then you shouldn't lend against it. Otherwise, it's better to leave it alone.
How much is gold taxed under a Roth IRA
An investment account's tax rate is determined based upon its current value, rather than what you originally paid. So if you invest $1,000 in a mutual fund or stock and then sell it later, any gains are subject to taxes.
If you place the money in a traditional IRA, 401(k), or other retirement plan, there is no tax when you take it out. Dividends and capital gains are exempt from tax. Capital gains only apply to investments more than one years old.
Each state has its own rules regarding these accounts. Maryland is an example of this. You must withdraw your funds within 60 calendar days of turning 59 1/2. Massachusetts allows you to delay withdrawals until April 1. New York is open until 70 1/2. To avoid penalties, plan ahead so you can take distributions at the right time.
Statistics
- 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)
- 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)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
External Links
irs.gov
cftc.gov
wsj.com
- Saddam Hussein’s InvasionHelped Uncage a Bear In 1989 – WSJ
- Want to Keep Gold in Your IRA at Home? It's Not Exactly Legal – WSJ
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
The History of Gold as an Asset
From the very beginning of time, gold was a currency. It was accepted worldwide and became popular due to its durability, purity, divisibility, uniformity, scarcity, and beauty. In addition, because of its value, it was traded internationally. However, since there were no international standards for measuring gold at this point, different weights and measures existed worldwide. For example in England, a pound sterling equals 24 carats. In France, a livre tournois equals 25. Carats of golden. Germany had one mark which equals 28. Carats.
In the 1860s, the United States began issuing American coins made up of 90% copper, 10% zinc, and 0.942 fine gold. This led to a decrease of demand for foreign currencies which in turn caused their prices to rise. The price of gold dropped because the United States began to mint large quantities of gold coins. They needed to pay off debt because they had too much money coming into circulation. They sold some of their excess gold to Europe to pay off the debt.
Most European countries distrusted the U.S. Dollar and began to accept gold as payment. However, after World War I, many European countries stopped taking gold and began using paper money instead. Since then, the price of gold has increased significantly. Even though gold's price fluctuates, it is still one of the most secure investments you could make.
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By: Media
Title: Alchemy Pay Deploys on Bitcoin.com as Global On-Ramp Provider
Sourced From: news.bitcoin.com/alchemy-pay-deploys-on-bitcoin-com-as-global-on-ramp-provider/
Published Date: Thu, 18 Jan 2024 12:00:53 +0000
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