Lolli's Successful Series B Funding Round
Lolli, a prominent player in the bitcoin and cashback rewards arena, has announced the closure of an $8 million Series B funding round. The funding round was led by Bitkraft Ventures, with both new and returning investors participating.
New Investors and Renewed Commitments
The Series B round saw contributions from a diverse group of new investors, including Sfermion, Ulta Beauty’s Prisma Ventures, Hypersphere Ventures, Rahul Pagidipati, 2 Punks Capital, MZ Web3 Fund, and others. Additionally, previous backers such as Alexis Ohanian’s Seven Seven Six, Founders Fund’s Pathfinder Ventures, Bain Capital Ventures, Serena Williams’ Serena Ventures, Michelle Phan, Logan Paul, Pir Granoff, Mrbeast’s Night Media, and Animal Capital renewed their commitments.
Excitement for Growth Opportunities
Lolli's CEO and Founder, Alex Adelman, expressed excitement about the company's growth prospects. With the surge in bitcoin's price and the increasing value of Lolli users' rewards, the company aims to bring bitcoin to more people through its gamified earning experiences.
Support from Bitkraft Ventures
Bitkraft Ventures, the lead investor in the funding round, believes in Lolli's mission. Carlos Pereira, Partner at Bitkraft Ventures, stated that Lolli is uniquely positioned to transform how people earn, own, and understand digital assets. The firm looks forward to working with Lolli to drive its continued growth as a leading onramp into crypto.
Driving Mainstream Bitcoin Adoption
Alexis Ohanian, Founder of Seven Seven Six, reiterated his support for Lolli. He highlighted Lolli's role in driving mainstream bitcoin adoption, especially for first-time bitcoin owners. Ohanian sees potential opportunities ahead for Lolli as a tool for people to understand and own sound money.
Expansion Plans and Partnerships
The influx of funds will fuel Lolli's expansion plans. Lolli aims to broaden its patented multi-currency rewards offering to enterprise partners such as neobanks, exchanges, payment companies, search engines, and card networks. By partnering with Lolli, enterprise partners can offer their own branded rewards experiences using Lolli's exclusive offerings. This includes access to Lolli's rewards network of retailers and Fortune 500 companies.
Enhancing the Card Boost Program
The funding will also enhance Lolli's Card Boost program, which allows shoppers to link any credit or debit card to earn bitcoin and cashback rewards in-store. The program was launched in 2022 and has been well-received by users.
Lolli's Success in the Rewards Space
Since its inception in 2018, Lolli has established partnerships with over 25,000 stores, including Ulta Beauty, Groupon, and Booking.com. Its platform has rewarded users with more than $10 million in bitcoin rewards, alongside cashback benefits.
Importance of Crypto Rewards Systems
Crypto rewards systems play a crucial role in expanding access to bitcoin and other cryptocurrencies. They provide an incentive for individuals to engage with digital assets and learn about their benefits. By offering rewards and cashback in cryptocurrencies, platforms like Lolli make it easier for people to enter the crypto space and become familiar with digital currencies.
In conclusion, Lolli's successful Series B funding round positions the company for further growth and expansion in the crypto rewards market. With the support of investors and the enhancement of its offerings, Lolli aims to bring bitcoin to more people and drive mainstream adoption of digital assets.
Frequently Asked Questions
How much tax is gold subject to in an IRA
The fair value of gold sold to determines the price at which tax is due. You don't have tax to pay when you buy or sell gold. It's not considered income. If you decide to sell it later, there will be a taxable gain if its price rises.
Loans can be secured with gold. When you borrow against your assets, lenders try to find the highest return possible. In the case of gold, this usually means selling it. There's no guarantee that the lender will do this. They might just hold onto it. They might decide that they want to resell it. The bottom line is that you could lose potential profit in any case.
If you plan on using your gold as collateral, then you shouldn't lend against it. If you don't plan to use it as collateral, it is better to let it be.
Should You Buy Gold?
In the past, gold was considered a haven for investors during economic turmoil. Many people are now turning their backs on traditional investments like stocks and bonds, and instead look to precious metals like Gold.
The trend for gold prices has been upward in recent years but they still remain low relative to other commodities like silver and oil.
Some experts believe that this could change very soon. Experts predict that gold prices will rise sharply in the wake of another global financial collapse.
They also noted that gold is growing in popularity because of its perceived value as well as potential return.
Here are some things to consider if you're considering investing in gold.
- Consider first whether you will need the money to save for retirement. It is possible to save for retirement while still investing your gold savings. However, when you retire at age 65, gold can provide additional protection.
- Second, ensure you fully understand the risks involved in buying gold. Each type offers varying levels and levels of security.
- Finally, remember that gold doesn't offer the same level of safety as a bank account. It is possible to lose your gold coins.
Do your research before you buy gold. Protect your gold if you already have it.
Should You Invest in Gold for Retirement?
The answer depends on how much money you have saved and whether gold was an investment option available when you started saving. If you are unsure of which option to invest in, consider both.
Gold is a safe investment and can also offer potential returns. This makes it a worthwhile choice for retirees.
Most investments have fixed returns, but gold's volatility is what makes it unique. Because of this, gold's value can fluctuate over time.
But this doesn't mean you shouldn't invest in gold. This just means you need to account for fluctuations in your overall portfolio.
Another benefit to gold is its tangible value. Gold is much easier to store than bonds and stocks. It can also be carried.
You can always access gold as long your place it safe. There are no storage charges for holding physical gold.
Investing in gold can help protect against inflation. It's a great way to hedge against rising prices, as gold prices tend to increase along with other commodities.
Additionally, it will be a benefit to have some of your savings invested into something that won't lose value. Gold rises in the face of a falling stock market.
You can also sell gold anytime you like by investing in it. Like stocks, you can sell your position anytime you need cash. You don’t even need to wait until retirement to liquidate your position.
If you do decide to invest in gold, make sure to diversify your holdings. Don't put all of your eggs in one basket.
Also, don't buy too much at once. Start small, buying only a few ounces. You can add more as you need.
It's not about getting rich fast. Rather, it's to build up enough wealth so you won't need to rely on Social Security benefits.
Even though gold is not the best investment, it could be an excellent addition to any retirement plan.
How much gold do you need in your portfolio?
The amount of capital that you require will determine how much money you can make. A small investment of $5k-10k would be a great option if you are looking to start small. As you grow, it is possible to rent desks or office space. This will allow you to pay rent monthly, and not worry about it all at once. Rent is only paid per month.
It is also important to decide what kind of business you want to run. In my case, I run a website-creation company. Our clients pay us between $1000-2000/month and depending on their order. You should also consider the expected income from each client when you do this type of thing.
Because freelance work pays freelancers, you won't likely get a monthly income if you do freelance work. You might get paid only once every six months.
Before you can determine how much gold you'll need, you must decide what type of income you want.
I suggest starting with $1k-2k gold and building from there.
Is buying gold a good retirement plan?
While buying gold as an investment may seem unattractive at first glance it becomes worth the effort when you consider how much gold is consumed worldwide each year.
Physical bullion bar is the best way to invest in precious metals. You can also invest in gold in other ways. Research all options carefully and make an informed decision about what you desire from your investments.
If you're not looking to secure your wealth, it may be worth considering purchasing shares in mining equipment or companies that extract gold. If you need cash flow from an investment, purchasing gold stocks is a good choice.
You can also invest your money in exchange-traded fund (ETFs), which give you exposure to the gold price by holding securities related to gold. These ETFs often include stocks of gold miners, precious metals refiners, and commodity trading companies.
How much is gold taxed under a Roth IRA
An investment account's tax is calculated based on the current value of the account, and not on what you paid originally. Any gains made by you after investing $1,000 in a stock or mutual fund are subject to tax.
But if you put the money into a traditional IRA or 401(k), there's no tax when you withdraw the money. Capital gains and dividends earn you no tax. This applies only to investments made for longer than one-year.
The rules that govern these accounts differ from one state to the next. For example, in Maryland, you must take withdrawals within 60 days after reaching age 59 1/2 . Massachusetts allows you to delay withdrawals until April 1. New York has a maximum age limit of 70 1/2. To avoid penalty fees, it is important to plan and take distributions in time to pay all your retirement savings.
What are some of the benefits of a gold IRA
You can save money on retirement by putting your money into an Individual Retirement Account. It's tax-deferred until you withdraw it. You control how much you take each year. There are many types available. Some are better suited to college savings. Others are intended for investors seeking higher returns. Roth IRAs permit individuals to contribute after the age 59 1/2. Any earnings earned at retirement are subject to tax. Once they start withdrawing money, however, the earnings aren’t subject to tax again. So if you're planning to retire early, this type of account may make sense.
An IRA with a gold status is like any other IRA because you can put money into different asset classes. Unlike a regular IRA, you don't have to worry about paying taxes on your gains while you wait to access them. For people who would rather invest than spend their money, gold IRA accounts are a good option.
An additional benefit to owning gold through an IRA, is the ease of automatic withdrawals. That means you won't have to think about making deposits every month. To make sure you don't miss any payments, you can also set up direct deductions.
Gold is one of today's most safest investments. Its value is stable because it's not tied with any one country. Even during economic turmoil the gold price tends to remain fairly stable. Therefore, gold is often considered a good investment to protect your savings against inflation.
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)
- 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)
- 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)
- (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)
External Links
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
bbb.org
law.cornell.edu
- 7 U.S. Code SS7 – Designation Boards of Trade as Contract Markets
- 26 U.S. Code SS 408 – Individual retirement accounts
investopedia.com
- Are You a Good Candidate for a Gold IRA
- What are the Options Types, Spreads. Example. And Risk Metrics
How To
Investing with gold or stocks
Gold investing as an investment vehicle can seem extremely risky these days. This is because many people believe that gold investment is no longer profitable. This belief comes from the fact most people see gold prices falling due to the global economy. They think that they would lose money if they invested in gold. There are many benefits to investing in gold. Let's take a look at some of the benefits.
One of the oldest forms known of currency is gold. It has been used for thousands of years. People around the world have used it as a store of value. It continues to be used in South Africa, as a way of paying their citizens.
You must first decide how much you are willing and able to pay per gram to decide whether or not gold should be your investment. When looking into buying gold bullion, you must decide how much you are willing to spend per gram. If you don’t know what the current market price is, you can always call a local jewelry store and ask them their opinion.
It is also worth noting that although gold prices have declined recently, the cost of producing gold has increased. The price of gold may have fallen, but the production costs haven’t.
The amount of gold that you are planning to purchase is another important consideration when deciding whether or not gold should be bought. It is sensible to avoid buying gold if you are only looking to cover the wedding rings. But, if your goal is to make long-term investments in gold, this might be worth considering. Profitable gold can be sold at a lower price than it was when you bought it.
We hope our article has given you a better understanding of gold as an investment tool. We recommend you do your research before making any final decisions. Only after doing so can you make an informed decision.
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By: David Sencil
Title: Lolli Secures $8 Million in Series B Funding to Expand Crypto Rewards Market
Sourced From: news.bitcoin.com/lolli-secures-8m-in-series-b-funding-to-boost-crypto-adoption-through-innovative-rewards-system/
Published Date: Thu, 14 Dec 2023 14:30:19 +0000
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https://altcoinirareview.com/federal-reserve-maintains-current-rates-eyes-potential-reductions-in-2024/
