Core DAO Supports African Web3 Builders
Core DAO, the foundation supporting Core Chain protocol, has announced the launch of a $5 million fund to provide resources and networks for African Web3 builders. With a significant portion of Core DAO's community based in Africa, the establishment of this fund is a logical step to support and empower developers on the continent.
More Than Just a Regular Fund
The fund, known as the Core African Innovation Fund, aims to support blockchain builders and projects in Africa through grants, builder programs, technical resources, and venture capital investments. Rich Rines, an initial contributor at Core DAO, emphasized that this fund goes beyond monetary support. Its objective is to nurture the next generation of builders and create a sustainable and interconnected blockchain future in Africa.
Driving Growth and Innovation in Africa
Brendan Sedo, another contributor at Core DAO, highlighted that the fund combines grants and venture capital investments to help developers enhance their products. Given the significant presence of Core DAO's community in Africa, launching a fund to support Web3 builders on the continent aligns with their mission. Core DAO's approach aims to promote long-term success and play a pivotal role in driving innovation and growth within the African Web3 landscape. The foundation intends to support the best projects in the African Web3 space.
As part of its strategy for Africa, Core DAO has appointed Oluwashina Peter as its first contributor from the continent. This move further demonstrates Core DAO's commitment to fostering development and collaboration within the African blockchain community.
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Frequently Asked Questions
What's the advantage of a Gold IRA?
There are many benefits to a gold IRA. You can diversify your portfolio with this investment vehicle. You can control how much money is deposited into each account as well as when it's withdrawn.
You can also rollover funds from other retirement accounts to a gold IRA. This will allow you to transition easily if it is your decision to retire early.
The best part is that you don't need special skills to invest in gold IRAs. They are readily available at most banks and brokerages. You don't have to worry about penalties or fees when withdrawing money.
That said, there are drawbacks too. Gold is historically volatile. It is important to understand why you are investing in gold. Are you looking for growth or safety? Are you looking for growth or insurance? Only then will you be able make informed decisions.
If you plan to keep your gold IRA indefinitely, you'll probably want to consider buying more than one ounce of gold. One ounce won't be enough to meet all your needs. Depending on your plans for using your gold, you may need multiple ounces.
You don’t necessarily need a lot if you’re looking to sell your gold. You can even manage with one ounce. You won't be capable of buying anything else with these funds.
Is gold a good choice for an investment IRA?
Anyone who is looking to save money can make gold an excellent investment. It is also an excellent way to diversify you portfolio. There's more to gold that meets the eye.
It has been used throughout the history of currency and remains a popular payment method. It's sometimes called “the world's oldest money”.
Gold is not created by governments, but it is extracted from the earth. It's hard to find and very rare, making it extremely valuable.
The price of gold fluctuates based on supply and demand. When the economy is strong, people tend to spend more money, which means fewer people mine gold. The value of gold rises as a consequence.
On the flip side, when the economy slows down, people hoard cash instead of spending it. This leads to more gold being produced which decreases its value.
It is this reason that gold investing makes sense for businesses and individuals. If you invest in gold, you'll benefit whenever the economy grows.
You'll also earn interest on your investments, which helps you grow your wealth. If gold's value falls, you don't have to lose any of your investments.
What is the cost of gold IRA fees
The Individual Retirement Account (IRA), fee is $6 per monthly. This includes the account maintenance fees and any investment costs associated with your chosen investments.
If you want to diversify, you may be required to pay extra fees. These fees can vary depending on which type of IRA account you choose. Some companies offer free checking, but charge monthly fees for IRAs.
Most providers also charge annual management costs. These fees are usually between 0% and 1%. The average rate is.25% per year. These rates can often be waived if a broker, such as TD Ameritrade, is involved.
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)
- 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)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
External Links
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
finance.yahoo.com
law.cornell.edu
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement plans
cftc.gov
How To
Online buying gold and silver is the best way to purchase it.
To buy gold, you must first understand how it works. The precious metal gold is similar to platinum. It's very rare and is used as money because of its durability and resistance to corrosion. It's hard to use, so most people prefer buying jewelry made out of it to actual bars of gold.
Two types of gold coins are available today: the legal tender type and the bullion type. Legal tender coins are designed for circulation in a country. They often have denominations like $1 or $5 or $10.
Bullion coins should only be used for investment purposes. Inflation can cause their value to increase.
They aren't circulated in any currency exchange systems. One example is that if someone buys $100 worth gold, they get 100 grams with a $100 value. For every dollar spent, the buyer gets 1 gram of Gold.
The next thing you should know when looking to buy gold is where to do it from. If you want to purchase gold directly from a dealer, then a few options are available. First, go to your local coin shop. Another option is to go through a reputable site like eBay. You can also look into buying gold online from private sellers.
Individuals selling gold at wholesale prices and retail prices are known as private sellers. Private sellers charge a 10% to 15% commission per transaction. A private seller will usually return less money than a coin shop and eBay. This option is often a great one for investors in gold, as it gives you greater control over the item's value.
Another way to buy gold is by investing in physical gold. You can store physical gold much more easily than you can with paper certificates. However, it still needs to be safe. Physical gold should be stored in an impenetrable container, such a vault and safety deposit box to ensure its safety.
You can either visit a bank, pawnshop or bank to buy gold. A bank can offer you a loan for the amount that you need to buy gold. Customers can borrow money from pawnshops to purchase items. Banks usually charge higher interest rates that pawn shops.
Finally, another way to buy gold is to simply ask someone else to do it! Selling gold can be as easy as selling. It is easy to sell gold by contacting a company like GoldMoney.com. You can create a simple account immediately and begin receiving payments.
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By: Terence Zimwara
Title: Core DAO Launches $5 Million ‘Innovation Fund’ to Support Africa-Based Web3 Developers
Sourced From: news.bitcoin.com/core-dao-launches-5-million-innovation-fund-to-support-africa-based-web3-developers/
Published Date: Fri, 26 Jan 2024 11:00:49 +0000
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