Introduction
Altify, a new alternative investment platform, has been launched through a merger between two South African crypto exchange platforms, Revix and Bitfund, and an Austria-based digital asset platform. The platform aims to provide South African investors, particularly the younger generation, with access to alternative investment opportunities that are typically reserved for large institutions and the ultra-wealthy.
Enabling Access to Alternative Investments
Altify's main objective is to enable ordinary people in South Africa to harness the power of alternative investments. These investments include private credit (private debt), venture capital, real estate, crypto assets, and collectibles. By offering these opportunities, Altify aims to break the perception that only individuals in their 60s should invest in alternative assets.
Leadership and Headquarters
Sean Sanders, the founder of Revix, has been appointed as the CEO of Altify. The new entity is headquartered in London, further solidifying its presence in the South African market while expanding its investment reach in the EMEA region.
Support from Shareholders
The merger transaction received support from various shareholders, including Sabvest, CVVC, Founders Factory, Emurgo, High-Tech Gründerfonds, and Calm/Storm Ventures. Angel investors Frank Westermann and Johann "Hansi" Hansmann also backed the merger, highlighting the confidence in Altify's potential.
Conclusion
Altify's launch signifies an important development in the South African investment landscape. By bringing together two local crypto exchange platforms with an international digital asset platform, Altify aims to democratize access to alternative investments and empower South African investors. With its headquarters in London, Altify is well-positioned to cater to the needs of investors not only in South Africa but also in the broader EMEA region.
Frequently Asked Questions
What Is a Precious Metal IRA?
An IRA with precious metals allows you to diversify retirement savings into gold and silver, palladium, rhodiums, iridiums, osmium, or other rare metals. These precious metals are extremely rare and valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Bullion is often used for precious metals. Bullion refers simply to the physical metal.
Bullion can be purchased through many channels including online retailers and large coin dealers as well as 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.
Unlike regular IRAs, precious metal IRAs don't require paperwork or annual fees. Instead, you only pay a small percentage on your gains. You also have unlimited access to your funds whenever and wherever you wish.
What does a gold IRA look like?
People who wish to invest in precious metals can use Gold Ira accounts as a tax-free investment vehicle.
You can purchase physical bullion gold coins at any point in time. You don't have to wait until retirement to start investing in gold.
Owning gold as an IRA has the advantage of allowing you to keep it forever. Your gold holdings will not be subject to tax when you are gone.
Your heirs can inherit your gold and avoid capital gains taxes. And because your gold remains outside of the estate, you aren't required to include it in your final estate report.
To open a gold IRA, you will first need to create an individual retirement account (IRA). After you have done this, an IRA custodian will be assigned to you. This company acts like a middleman between the IRS and you.
Your gold IRA custodian can handle all paperwork and submit necessary forms to IRS. This includes filing annual reporting.
Once you've set up your gold IRA, it's possible to buy gold bullion. Minimum deposit required is $1,000 However, you'll receive a higher interest rate if you put in more.
You will pay taxes when you withdraw your gold from your IRA. If you're withdrawing the entire balance, you'll owe income taxes plus a 10 percent penalty.
A small percentage may mean that you don't have to pay taxes. However, there are exceptions. However, there are exceptions. If you take 30% or more of your total IRA asset, you'll owe federal Income Taxes plus a 20% penalty.
Avoid taking out more that 50% of your total IRA assets each year. You could end up with severe financial consequences.
What is the benefit of a gold IRA?
There are many benefits to a gold IRA. It is an investment vehicle that can diversify your portfolio. You control how much money goes into each account and when it's withdrawn.
You also have the option to transfer funds from other retirement plans into a IRA. This allows you to easily transition if your retirement is early.
The best thing is that investing in gold IRAs doesn't require any special skills. They're readily available at almost all banks and brokerage firms. Withdrawals can be made instantly without the need to pay fees or penalties.
But there are downsides. Gold has historically been volatile. Understanding why you want to invest in gold is essential. Do you want safety or growth? Is it for insurance purposes or a long-term strategy? Only when you are clear about the facts will you be able take an informed decision.
If you want to keep your gold IRA open for life, you might consider purchasing more than one ounce. One ounce won't be enough to meet all your needs. Depending upon what you plan to do, you could need several ounces.
You don't need to have a lot of gold if you are selling it. Even a single ounce can suffice. These funds won't allow you to purchase anything else.
Can the government take your gold
Your gold is yours, so the government cannot confiscate it. You earned it through hard work. It belongs to you. There may be exceptions to this rule. 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. However, even though your taxes have not been paid, you can still keep your precious metals, even though they are considered the property of United States Government.
Should You Buy Gold?
Gold was once considered an investment safe haven during times of economic crisis. Today, many people are looking to precious metals like gold and avoiding traditional investments like bonds and stocks.
Gold prices have been on an upward trend over recent years, but they remain relatively low compared to other commodities such as oil and silver.
Experts believe this could change soon. Experts predict that gold prices will rise sharply in the wake of another global financial collapse.
They also note that gold is increasingly popular because of its perceived intrinsic value and potential return.
These are some things you should consider when considering gold investing.
- Before you start saving money for retirement, think about whether you really need it. It's possible to save for retirement without putting your savings into gold. The added protection that gold provides when you retire is a good option.
- Second, ensure you fully understand the risks involved in buying gold. Each one offers different levels security and flexibility.
- Finally, remember that gold doesn't offer the same level of safety as a bank account. If you lose your gold coins, you may never recover them.
Do your research before you buy gold. Make sure to protect any gold you already own.
How to Open a Precious Metal IRA
The first step is to decide if you want an Individual Retirement Account (IRA). You must complete Form 8606 to open an account. You will then need to complete Form 5204 in order to determine which type IRA you are eligible. This form should be filled within 60 calendar days of opening the account. Once you have completed this form, it is possible to begin investing. You could also opt to make a contribution directly from your paycheck by using payroll deduction.
You must complete Form 8903 if you choose a Roth IRA. Otherwise, the process will be identical to an ordinary IRA.
To qualify for a precious-metals IRA, you'll need to meet some requirements. The IRS states that you must be at least 18 and have earned income. Your annual earnings cannot exceed $110,000 ($220,000 if you are married and file jointly) for any tax year. Contributions must be made on a regular basis. These rules apply regardless of whether you are contributing directly to your paychecks or through your employer.
A precious metals IRA can be used to invest in palladium or platinum, gold, silver, palladium or rhodium. But, you'll only be able to purchase physical bullion. This means you won't be allowed to trade shares of stock or bonds.
Your precious metals IRA may also be used to invest in precious-metal companies. This option may be offered by some IRA providers.
There are two main drawbacks to investing through an IRA in precious metallics. First, they are not as liquid or as easy to sell as stocks and bonds. This makes them harder to sell when needed. They don't yield dividends like bonds and stocks. Therefore, you will lose money over time and not gain it.
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)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- 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)
- (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)
External Links
cftc.gov
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 1991 – WSJ
- How do you keep your IRA Gold at Home? It's Not Exactly Legal – WSJ
irs.gov
How To
Tips for Investing in Gold
Investing in Gold is a popular investment strategy. This is due to the many benefits of investing in gold. There are many ways to invest gold. There are many ways to invest in gold. Some prefer buying physical gold coins while others prefer gold ETFs (Exchange Traded Funds).
Before you buy any type of gold, there are some things that you should think about.
- First, you must check whether your country allows you to own gold. If so, then you can proceed. Otherwise, you can look into buying gold from abroad.
- You should also know the type of gold coin that you desire. You have options: you can choose from yellow gold, white or rose gold.
- Third, consider the cost of gold. Start small and move up. You should diversify your portfolio when buying gold. Diversifying your portfolio should be a priority, including stocks, bonds and real estate.
- Lastly, you should never forget that gold prices change frequently. Keep an eye on current trends.
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By: Terence Zimwara
Title: Altify: South African Crypto Platforms and Austrian Digital Asset Platform Launch Alternative Investment Platform
Sourced From: news.bitcoin.com/south-african-crypto-exchanges-revix-and-bitfund-merge-with-austrian-digital-asset-platform/
Published Date: Sun, 03 Dec 2023 08:30:08 +0000
