Binance, the largest crypto exchange by volume traded has announced expansion plans for Brazil. Two new offices will be opened by the exchange in Brazil to house 150 employees. They will have the option to work remotely or in-office. In the future, the company may launch a debit card.
Binance expands its team facilities in Brazil
Latam countries such as Brazil are increasingly important to cryptocurrency exchanges around the world due to the crypto boom. Binance, a leading cryptocurrency exchange, recently announced that it would open two offices in Brazil. According to reports, employees will be able to choose whether they want these offices or work remotely.
These new offices will be in Rio de Janeiro, and Sao Paolo. They will serve as co-working spaces for employees of Binance Brazil. The company was only 60 people at the start of the year, but this has now increased to 150.
Compliance Moves and Launch of a Debit Card
Although Binance has had to deal with compliance issues in different countries, the exchange is working hard to be compliant in Brazil. The company purchased Sim;paul Investimentos, a Brazilian regulated payment institution, in March. This acquisition is still being analyzed by the central bank.
Matthew Shroder (global vice president and regional director of Binance) stated the following:
We are taking proactive steps to make sure that we comply with the requirements to be able to operate as a cryptocurrency exchange even before the new regulations take effect.
Due to the October general elections, Congress is yet to discuss the Brazilian cryptocurrency bill that was introduced last year.
Shroder also suggested that a Mastercard product would be launched to allow Brazilians to use cryptocurrencies to pay using a debit card. This is similar to the one that was launched in Argentina last month. He explained that:
span class =""> We are already seeing results in Argentina that show the product is very popular. We are still evaluating the markets that will follow… but given the importance of Brazil to Binance and the size of this market, Brazil is certain to be the first choice.
What do you think of the plans for expansion that Binance has in Brazil. Comment below.
Frequently Asked Questions
How much of your portfolio should you hold in precious metals
To answer this question we need to first define precious metals. Precious metals have elements with an extremely high worth relative to other commodity. They are therefore very attractive for investment and trading. Gold is by far the most common precious metal traded today.
There are also many other precious metals such as platinum and silver. The price volatility of gold can be unpredictable, but it is generally stable during periods of economic turmoil. It is also relatively unaffected both by inflation and deflation.
All precious metals prices tend to rise with the overall market. They do not always move in the same direction. For example, when the economy is doing poorly, the price of gold typically rises while the prices of other precious metals tend to fall. This is because investors expect lower interest rates, making bonds less attractive investments.
In contrast, when the economy is strong, the opposite effect occurs. Investors favor safe assets like Treasury Bonds, and less precious metals. They are more rare, so they become more expensive and less valuable.
Diversifying across precious metals is a great way to maximize your investment returns. It is also a good idea to diversify your investments in precious metals, as prices tend to fluctuate.
Can I have a gold ETF in a Roth IRA
Although a 401k plan might not provide this option, you should still consider other options like an Individual Retirement Account (IRA).
Traditional IRAs allow contributions from both the employer and employee. You can also invest in publicly traded businesses by creating an Employee Stock Ownership Plan (ESOP).
An ESOP is a tax-saving tool because employees have a share of company stock as well as the profits that the business generates. The money invested in the ESOP is then taxed at lower rates than if it were held directly in the hands of the employee.
An Individual Retirement Annuity (IRA) is also available. An IRA allows for you to make regular income payments during your life. Contributions to IRAs do not have to be taxable
What precious metals can you invest in for retirement?
Gold and silver are the best precious metal investments. They are both easy to trade and have been around for years. If you want to diversify your portfolio, you should consider adding them to your list.
Gold: One of the oldest forms of currency, gold, is one of mankind’s most valuable. It is very stable and secure. It is a good way for wealth preservation during uncertain times.
Silver: The popularity of silver has always been a concern for investors. It is an excellent choice for investors who wish to avoid volatility. Silver is more volatile than gold. It tends to rise rather than fall.
Platinium: Platinum is another form of precious metal that’s becoming increasingly popular. It’s resistant to corrosion and durable, similar to gold and silver. It’s however much more costly than any of its counterparts.
Rhodium: The catalytic converters use Rhodium. It is also used for jewelry making. It’s also relatively inexpensive compared to other precious metals.
Palladium: Palladium, which is a form of platinum, is less common than platinum. It is also cheaper. It’s a popular choice for investors who want to add precious metals into their portfolios.
What is the value of a gold IRA
There are many advantages to a gold IRA. You can diversify your portfolio with this investment vehicle. You decide how much money is put in each account and when it is withdrawn.
Another option is to rollover funds from another retirement account into a IRA with gold. This makes for an easy transition if you decide to retire early.
The best thing is that investing in gold IRAs doesn’t require any special skills. They’re available at most banks and brokerage firms. Withdrawals can happen automatically, without any fees or penalties.
However, there are still some drawbacks. Gold has always been volatile. Understanding why you want to invest in gold is essential. Are you looking for growth or safety? Are you looking for growth or insurance? 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. A single ounce will not be sufficient to meet all your requirements. Depending on the purpose of your gold, you might need more than one ounce.
If you’re planning to sell off your gold, you don’t necessarily need a large amount. You can even manage with one ounce. But you won’t be able to buy anything else with those funds.
Statistics
- (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)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item’s value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
finance.yahoo.com
irs.gov
- Retirement Topics – IRA Limits
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. Example. And Risk Metrics
How To
Investing gold vs. stocks
Investing in gold as an investment vehicle might seem like a very risky proposition these days. This is because many people believe that gold investment is no longer profitable. This belief is based on the fact that gold prices are being driven down by global economic conditions. They fear that investing in gold will result in a loss of money. In reality, though, gold investment can offer significant benefits. Below are some of them.
One of the oldest forms known of currency is gold. There are thousands of records that show gold was used over the years. It is a valuable store of value that has been used by many people throughout the world. It is still used as a payment method by South Africa and other countries.
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 your current market rate, you could always contact a local jeweler and ask them what they think the price 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.
When deciding whether to buy gold, another thing to consider is how much gold you intend on buying. It makes sense to save any gold you don’t need to purchase if your goal is to use it for wedding rings. This is not a wise decision if you’re looking to invest in long-term assets. If you sell your gold for more than you paid, you can make a profit.
We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. We strongly recommend that you research all available options before making any decisions. Only after doing so can you make an informed decision.
—————————————————————————————————————————————————————————————–
By: Sergio Goschenko
Title: Binance to Open Two Offices in Brazil, Company Hints at Debit Card Launch
Sourced From: news.bitcoin.com/binance-to-open-two-offices-in-brazil-company-hints-at-debit-card-launch/
Published Date: Wed, 21 Sep 2022 05:30:08 +0000
