Introduction
The GameSwift team is proud to introduce GS Pay, a revolutionary payment system and bank card that seamlessly converts in-game treasures into real money, unlocking a world where gaming fuels real-life purchases. As the gaming sector continues its exponential growth, the lines between reality and virtual worlds are becoming increasingly blurred. Gaming is transcending mere entertainment, and GameSwift is at the forefront of this evolution.
Empowering Gamers Beyond the Screen
With GS Pay, the aim is to bridge the gap between the gaming universe and the physical world, empowering gamers to utilize their hard-earned digital items as currency for everyday expenses such as shopping, food, and bills. GS Pay, coupled with the virtual currency ‘G-BUCKS’, is designed for seamless integration within games, applications, and online stores. This unified system, powered by G-BUCKS, facilitates a transformative experience for Web3 gamers.
Unveiling The Technology Behind GS Pay
At the core of GS Pay lies the exclusive technology that enables gamers to monetize and cash out their in-game assets seamlessly. The intuitive dashboard showcases in-game digital assets, complete with information about each item's value. In the Mainnet stage, with just a single click, gamers can also convert their assets into actual money on their GS Pay bank card.
The GS Pay system comprises two key components, namely the GameSwift Wallet and the GameSwift Card. Furthermore, GameSwift’s technology covers all technical aspects, including handling gas fees and bridging assets to exchanges or marketplaces for conversion. The off-ramping process also employs zero-knowledge proof technology, ensuring the privacy and security of converting crypto assets to fiat.
A Comprehensive Payment System
GS Pay, integrated into the GameSwift Platform, streamlines fund placement and withdrawal for users. This versatile system supports various services, including ordering a payment card, making in-game purchases, and utilizing both off-ramp and on-ramp gateways. Users can conveniently place funds on their accounts using traditional methods or blockchain technology through crypto wallets.
Important Dates and Information
There are some important dates to note, as December 20th is when access for whitelisted users will be given, December 21st is the Open Phase, December 22nd is the return to 7 days of unbounding, and December 23rd will mark the end of the first phase. The number of places available in Phase 1 are 888, and the lock conditions are 3 months plus 7 days unbounding.
About GameSwift
GameSwift is a leading innovator in the gaming industry, dedicated to providing high-quality solutions that redefine the gaming experience. The platform was founded on the convergence of blockchain innovation, a passion for gaming, a strong technological foundation, and decentralized financial technologies. By seamlessly integrating these enabling technologies, the team presents the future of Web3 gaming.
Conclusion
GS Pay has the potential to revolutionize how gamers engage with and monetize their hobby. GameSwift is excited to introduce this innovative product to the market, simplifying the monetization of in-game assets in the real world without requiring blockchain expertise. The team firmly believes in empowering users, and GS Pay is a testament to that commitment.
For more information, visit GameSwift’s official website as well as the X, Discord, YouTube, LinkedIn, Medium, and Telegram channels for regular updates.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Frequently Asked Questions
What is the best precious-metal to invest?
This question is dependent on the amount of risk you are willing and able to accept as well as the type of return you desire. Gold is a traditional haven investment. However, it is not always the most profitable. For example, if you need a quick profit, gold may not be for you. Silver is a better investment if you have patience and the time to do it.
If you don’t desire to become rich quickly, gold may be your best option. Silver may be a better option for investors who want long-term steady returns.
How much are gold IRA fees?
$6 per month is the Individual Retirement Account Fee (IRA). This includes account maintenance fees and investment costs for your chosen investments.
You may have to pay additional fees if you want to diversify your portfolio. The fees you pay will vary depending on the type of IRA that 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 be waived if the broker is TD Ameritrade.
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 metals are great investments and can help protect your financial future from economic instability and inflation.
Precious metals are sometimes called “bullion.” Bullion refers only to the actual metal.
Bullion can be purchased via a variety of channels including online sellers, large coin dealers, and grocery stores.
A precious metal IRA allows you to invest directly in bullion, rather than buying stock shares. This ensures that you will receive dividends each and every year.
Precious metal IRAs do not require paperwork nor annual fees, unlike regular IRAs. Instead, you pay a small percentage tax on the gains. You also have unlimited access to your funds whenever and wherever you wish.
Is physical gold allowed in an IRA.
Not only is gold paper currency, but it's also money. It is an asset that people have used over thousands of years as money, and a way to protect wealth from inflation and economic uncertainties. Investors today use gold to diversify their portfolios because gold is more resilient to financial turmoil.
Today, many Americans invest in precious metals such as gold and silver rather than stocks and bonds. Even though owning gold is not a guarantee of making money, there are many reasons why you might want to add gold to your retirement savings portfolio.
Another reason is that gold has historically outperformed other assets in financial panic periods. Between August 2011 to early 2013, gold prices rose close to 100 percent while the S&P 500 fell 21 per cent. During these turbulent market times, gold was among few assets that outperformed the stocks.
One of the best things about investing in gold is its virtually zero counterparty risk. Even if your stock portfolio is down, your shares are still yours. If you have gold, it will still be worth your shares even if the company in which you invested defaults on its debt.
Gold provides liquidity. This allows you to sell your gold whenever you want, unlike many other investments. It makes sense to buy small quantities of gold, as it is more liquid than other investments. This allows for you to benefit from the short-term fluctuations of the gold market.
How much of your portfolio should be in precious metals?
Before we can answer this question, it is important to understand what precious metals actually are. Precious elements are those elements which have a high price relative to other commodities. This makes them extremely valuable for trading and investing. Today, gold is the most commonly traded precious metal.
There are many other precious metals, such as silver and platinum. The price volatility of gold can be unpredictable, but it is generally stable during periods of economic turmoil. It also remains relatively unaffected by inflation and deflation.
In general, all precious metals have a tendency to go up with the market. But they don't always move in tandem with one another. 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 rates of interest, which makes bonds less attractive investments.
However, when an economy is strong, the reverse effect occurs. Investors want safe assets such Treasury Bonds and are less inclined to demand precious metals. Because they are rare, they become more pricey and lose value.
Therefore, to maximize profits from investing in precious metals, you must diversify across multiple precious metals. Additionally, since the prices of precious metals tend to rise and fall together, it's best to invest in several different types of precious metals rather than just focusing on one type.
What are the pros & con's of a golden IRA?
An Individual Retirement Account (IRA), unlike regular savings accounts, doesn't require you to pay tax on interest earned. An IRA is a great option for those who want to save money, but don't want tax on any interest earned. There are some disadvantages to this investment.
To give an example, if your IRA is withdrawn too often, you can lose all your accumulated funds. The IRS may prohibit you from withdrawing funds from your IRA before you are 59 1/2 years of age. If you do decide to withdraw funds from your IRA, you'll likely need to pay a penalty fee.
The downside is that managing your IRA requires fees. Most banks charge 0.5% to 2.0% per annum. Other providers may charge monthly management fees, ranging between $10 and $50.
Insurance will be required if you would like to keep your cash out of banks. A majority of insurance companies require that you possess a minimum amount gold to be eligible for a claim. Insurance that covers losses upto $500,000.
If you choose to go with a gold IRA, you'll need to determine how much gold you want to use. Some providers limit how many ounces you can keep. Some providers allow you to choose your weight.
It is also up to you to decide whether you want to purchase physical gold or futures. Gold futures contracts are more expensive than physical gold. Futures contracts allow you to buy gold with more flexibility. They enable you to establish a contract with an expiration date.
It is also important to choose the type of insurance coverage that you need. The standard policy does NOT include theft protection and loss due to fire or flood. The policy does not cover natural disasters. If you live near a high-risk region, you might want to consider additional coverage.
Insurance is not enough. You also need to think about the cost of gold storage. Insurance doesn't cover storage costs. Safekeeping costs can be as high as $25-40 per month at most banks.
A qualified custodian is required to help you open a Gold IRA. Custodians keep track of your investments and ensure compliance with federal regulations. Custodians aren't allowed to sell your assets. Instead, they must maintain them for as long a time as you request.
Once you have chosen the right type of IRA to suit your needs, it is time to fill out paperwork defining your goals. The plan should contain information about the types of investments you wish to make such as stocks, bonds or mutual funds. It is also important to specify how much money you will invest each month.
After completing the forms, send them along with a check or a small deposit to your chosen provider. The company will then review your application and mail you a letter of confirmation.
When opening a gold IRA, you should consider using a financial planner. Financial planners are experts in investing and will help you decide which type of IRA works best for your situation. They can help you find cheaper insurance options to lower your costs.
Can the government take your gold?
Your gold is yours and the government cannot take it. You earned it through hard work. It belongs 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.
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)
- (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)
- 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)
- 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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
cftc.gov
finance.yahoo.com
investopedia.com
- Do You Need a Gold IRA to Get Retirement?
- What are the Options? Types, Spreads and Example. Risk Metrics
irs.gov
How To
How to hold physical gold in an IRA
The most obvious way to invest in gold is by buying shares from companies producing gold. However, there are risks associated with this strategy. It isn't always possible for these companies to survive. Even if the company survives, they still face the risk of losing their investment due to fluctuations in gold's price.
Alternative options include buying physical gold. You will need to either open an online or bank account or simply buy gold from a reliable seller. The advantages of this option include the ease of access (you don't need to deal with stock exchanges) and the ability to make purchases when prices are low. It is easier to view how much gold has been stored. A receipt will be sent to you indicating exactly how much you paid. This will allow you to see if there were any tax omissions. You are also less likely to be robbed than investing in stocks.
However, there are disadvantages. You won't be able to benefit from investment funds or interest rates offered by banks. Additionally, you won’t be able diversify your holdings. You will remain with the same items you bought. Finally, the tax man might ask questions about where you've put your gold!
Visit BullionVault.com to find out more about gold buying in an IRA.
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By: Media
Title: GameSwift Introduces GS Pay To Bridge The Gap Between Web2 and Web3 Payments
Sourced From: news.bitcoin.com/gameswift-introduces-gs-pay-to-bridge-the-gap-between-web2-and-web3-payments/
Published Date: Tue, 19 Dec 2023 18:00:26 +0000
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