CoinCorner will be supported by Seed Group to expand its operations in the UAE and gain access to top decision-makers from the private as well as government sectors.
CoinCorner, a leader in Bitcoin and Lightning Network services has partnered up with Seed Group, a company belonging to the Private Office Sheikh Saeed bin Ahmed Al Maktoum in order to facilitate Bitcoin transactions within The United Arab Emirates (UAE).
Hisham Al Gurg, CEO Seed Group and the Private Office Sheikh Saeed bin Ahmad Al Maktoum, stated that "apart from individuals, many companies are ready to adopt Bitcoin and other digital currencies for future transactions." "The UAE is committed to providing a favorable environment for fintech companies through the establishment of a digital currency ecosystem. The digital economy of the Emirates holds huge potential for companies that deal in cryptocurrency.
CoinCorner will be supported by Seed Group to expand its operations in the Emirates and the wider Middle East. They will also market their products and services effectively and reach their audience.
CoinCorner will focus on creating a user-friendly platform for UAE residents to buy, sell and send bitcoins.
"We are happy to enter into a mutually advantageous partnership with Seed Group," stated Danny Scott, CEO at CoinCorner. With our unique solutions, we are determined to make Bitcoin transactions "new normal" for the UAE. We facilitate instant and frictionless payments.
CoinCorner will have access to one the fastest-growing economies, as well as the opportunity to reach potential clients based in the Middle East and Africa regions.
According to a new study by Forex, the UAE is one of the top four countries in the world that are most ready for Bitcoin adoption. With a total transaction volume of $26 billion, the UAE's crypto and bitcoin market is third in the Middle East. The market had increased by 1,500% over the last financial year. This will continue into 2020-21.
Frequently Asked Questions
What are some of the benefits of a gold IRA
The best way to save money for retirement is to place it in an Individual Retirement Account. It's not subject to tax until you withdraw it. You are in complete control of how much you take out each fiscal year. There are many types available. Some are more suitable for students who wish to save money for college. Others are designed for investors looking for higher returns. For example, Roth IRAs allow individuals to contribute after age 59 1/2 and pay taxes on any earnings at retirement. The earnings earned after they withdraw the funds aren't subject to any tax. This account is a good option if you plan to retire early.
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 need to worry about taxes while you wait for your gains to be available. This makes gold IRA accounts a great choice for those who want their money to be invested, not spent.
You can also enjoy automatic withdrawals, which is another benefit of owning your gold through an IRA. It means that you don’t have to remember to make deposits every month. To avoid missing a payment, direct debits can be set up.
Finally, gold is one of the safest investment choices available today. Because it isn't tied to any particular country its value tends be steady. Even in times of economic turmoil, gold prices tend not to fluctuate. This makes it a great investment option to protect your savings from inflation.
What's the advantage of a Gold IRA?
There are many advantages to a gold IRA. It's an investment vehicle that allows you to diversify your portfolio. You decide how much money you want to put into each account, and when you want it to be withdrawn.
You can also rollover funds from other retirement accounts to a gold IRA. This makes for an easy transition if you decide to retire early.
The best part about gold IRAs? You don't have to be an expert. They're readily available at almost all banks and brokerage firms. You do not need to worry about fees and penalties when you withdraw money.
There are, however, some drawbacks. Gold has historically been volatile. It's important to understand the reasons you're considering investing in gold. Do you want safety or growth? Do you want to use it as an insurance strategy or for long-term growth? Only by knowing the answer, you will be able to make an informed choice.
If you are planning to keep your Gold IRA indefinitely you will want to purchase more than one ounce. A single ounce will not be sufficient to meet all your requirements. Depending upon what you plan to do, you could need several ounces.
If you're planning to sell off your gold, you don't necessarily need a large amount. You can even live with just one ounce. But you won't be able to buy anything else with those funds.
What are the pros & con's of a golden IRA?
An Individual Retirement Account is a more beneficial option than regular savings accounts. You don't pay taxes on any interest earned. An IRA is a great option for those who want to save money, but don't want tax on any interest earned. But, this type of investment comes with its own set of disadvantages.
To give an example, if your IRA is withdrawn too often, you can lose all your accumulated funds. Also, the IRS may not allow you to make withdrawals from your IRA until you're 59 1/2 years old. You will likely have to pay a penalty fee if you withdraw funds from an IRA.
You will also need to pay fees for managing your IRA. Many banks charge between 0.5%-2.0% per year. Other providers charge monthly management costs ranging from $10-50.
Insurance is necessary if you wish to keep your money safe from the banks. Many insurers require that you own at least one ounce of gold before you can make a claim. You might be required to buy insurance that covers losses up to $500,000.
If you are considering a Gold IRA, you need to first decide how much of it you would like to use. Some providers limit the number of ounces of gold that you can own. Others allow you the freedom to choose your own weight.
Also, you will need to decide if you want to buy physical gold futures contracts or physical gold. Gold futures contracts are more expensive than physical gold. Futures contracts, however, allow for greater flexibility in buying gold. They let you set up a contract that has a specific expiration.
Also, you will need to decide on the type of insurance coverage you would like. Standard policies don't cover theft protection, loss due to fire, flood or earthquake. It does provide coverage for damage from natural disasters, however. You may consider adding additional coverage if you live in an area at high risk.
In addition to insurance, you'll need to consider the cost of storing your gold. Storage costs are not covered by insurance. Banks charge between $25 and $40 per month for safekeeping.
Before you can open a gold IRA you need to contact a qualified Custodian. A custodian maintains track of all your investments and ensures you are in compliance with federal regulations. Custodians can't sell assets. Instead, they must hold them as long 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. You must include information about what investments you would like to make (e.g. stocks, bonds and mutual funds). It is also important to specify how much money you will invest each month.
You will need to fill out the forms and send them to your chosen provider together with a check for small deposits. After receiving your application, the company will review it and mail you a confirmation letter.
You should consult a financial planner before opening a Gold IRA. Financial planners have extensive knowledge in investing and can help determine the best type of IRA to suit your needs. They can also help reduce your costs by suggesting cheaper options for purchasing insurance.
What is a Precious Metal IRA (IRA)?
You can diversify your retirement savings by investing in precious metal IRAs. This allows you to invest in gold, silver and platinum as well as iridium, osmium and other rare metals. These metals are known as “precious” because they are rare and extremely valuable. They make excellent investments for your money and help you protect your future from inflation and economic instability.
Precious metals are often referred to as “bullion.” Bullion refers simply to the physical metal.
You can buy bullion through various channels, including online retailers, large coin dealers, and some grocery stores.
A precious metal IRA allows you to invest directly in bullion, rather than buying stock shares. You'll get dividends each year.
Precious metal IRAs have no paperwork or annual fees. Instead, you pay only a small percentage tax on your gains. Plus, you get free access to your funds whenever you want.
How much of your portfolio should you hold in precious metals
This question can only be answered if we first know what precious metals are. Precious metals have elements with an extremely high worth relative to other commodity. This makes them highly valuable for both investment and trading. Today, gold is the most commonly traded precious metal.
There are also many other precious metals such as platinum and silver. The price of gold tends to fluctuate but generally stays at a reasonably stable level during periods of economic turmoil. It is not affected by inflation or deflation.
In general, prices for precious metals tend increase with the overall marketplace. They do not always move in the same direction. If the economy is struggling, the gold price tends to rise, while the prices for other precious metals tends to fall. Investors expect lower interest rates which makes bonds less appealing investments.
The opposite effect happens when the economy is strong. Investors choose safe assets such Treasury Bonds over precious metals. Because they are rare, they become more pricey and lose value.
Diversifying across precious metals is a great way to maximize your investment returns. Furthermore, because the price of precious Metals fluctuates, it is best not to focus on just one type of precious Metals.
Is buying gold a good retirement plan?
Although gold investment may not seem appealing at first glance due to the high average global gold consumption, it's worth considering.
Physical bullion is the most popular method of investing in gold. But there are many other options for investing in gold. You should research all options thoroughly before making a decision on which option you prefer.
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 are looking for cash flow from your investment, buying gold stocks will work well.
ETFs allow you to invest in exchange-traded funds. These funds give you exposure, but not actual gold, by investing in gold-related securities. These ETFs often include stocks of gold miners, precious metals refiners, and commodity trading companies.
How much should you have of gold in your portfolio
The amount of capital that you require will determine how much money you can make. If you want to start small, then $5k-$10k would be great. You could then rent out desks and office space as your business grows. This way, you don't have to worry about paying rent all at once. You just pay per month.
It's also important to determine what type business you'll run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. If you are doing this type of thing, it is important to think about how much you can expect from each client.
Freelance work is not likely to pay a monthly salary. The project pays freelancers. So you might only get paid once every 6 months or so.
Decide what kind of income do you want before you calculate how much gold is needed.
I would recommend that you start with $1k-2k worth of gold and then increase your wealth.
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (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)
- 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)
- (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)
- 7 U.S. Code SS7 – Designation of boards for trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement funds
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China‘s Evergrande Crisis – Forbes Advisor
Investing with gold or stocks
This might make it seem very risky to invest gold as an investment tool. This is because most people believe that it is no longer economically profitable to invest gold. This belief is based on the fact that gold prices are being driven down by global economic conditions. They believe they would lose their money if they invested gold. However, investing in gold can still provide significant benefits. Below are some of them.
Gold is one of the oldest forms of currency known to man. It has been used for thousands of years. It is a valuable store of value that has been used by many people throughout the world. It's still used by countries like South Africa as a method of payment.
When deciding whether to invest in gold, the first thing you need to do is to decide what price per gram you are willing to pay. The first thing you should do when considering buying gold bullion is to decide how much you will spend per gram. You could contact a local jeweler to find out what their current market rate is.
It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. So, although gold prices have declined in recent years, the cost of producing it has not changed.
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. If you plan to do so as long-term investments, it is worth looking into. Selling your gold at a higher value than what you bought can help you make money.
We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. Before making any investment decisions, we strongly advise that you thoroughly research all options. Only then can you make informed decisions.
By: Nik Hoffman
Title: Royal Family of Dubai Company Seed Group Partners With CoinCorner To Facilitate Bitcoin Transactions In The UAE
Sourced From: bitcoinmagazine.com/business/seed-group-partners-with-coincorner-to-facilitate-bitcoin-transactions-in-the-uae
Published Date: Wed, 21 Sep 2022 07:00:00 GMT