Introduction
Altify, a new alternative investment platform, has been launched through the collaboration of two South African crypto exchange platforms, Revix and Bitfund, and an Austria-based digital asset platform. The aim of Altify is to provide South African investors, particularly the younger generation, with the opportunity to explore alternative investments.
Merging of Platforms
The merger between Revix, Bitfund, and the Austrian digital asset platform has resulted in the creation of Altify. As per the joint statement, Sean Sanders, the founder of Revix, has been appointed as the CEO of the new entity, which is headquartered in London.
Accessible Alternative Investments
Altify seeks to democratize alternative investments by offering opportunities that are typically reserved for institutional investors and the ultra-wealthy to the general public. These alternative investment options include private credit, venture capital, real estate, crypto assets, and collectibles.
Empowering South African Investors
Sean Sanders emphasizes that Altify not only solidifies its presence in the South African market but also expands its investment reach. The CEO states, "Our ultimate goal is to empower South African investors by providing them with access to alternative investments. We aim to establish ourselves as the go-to alternative investment platform in South Africa and the wider EMEA region."
Changing Perceptions
One of the key objectives of Altify is to challenge the prevailing notion that only individuals in their 60s should engage in alternative asset investments. By doing so, Altify aims to attract a younger demographic of investors and reshape the perception surrounding alternative investments.
Support and Backing
The merger transaction received support from the shareholders of the respective companies, including Sabvest, CVVC, Founders Factory, Emurgo, High-Tech Gründerfonds, and Calm/Storm Ventures. Additionally, angel investors Frank Westermann and Johann "Hansi" Hansmann also endorsed the merger.
Conclusion
Altify, the new alternative investment platform, is set to revolutionize the South African investment landscape. By partnering with established crypto exchange platforms and digital asset platforms, Altify aims to make alternative investments accessible to a wider range of investors. Through their platform, investors can explore various alternative investment opportunities, diversify their portfolios, and potentially achieve greater financial success.
Frequently Asked Questions
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 is tax-deferred until it's withdrawn. You are in complete control of how much you take out each fiscal year. There are many types to choose from when it comes to IRAs. Some are better suited for college students. Others are intended for investors seeking higher returns. Roth IRAs, for example, allow people to contribute after they turn 59 1/2. They also pay taxes on any earnings when they retire. These earnings don't get taxed if they withdraw funds. 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 that requires you to pay taxes on the gains you make while you wait to access them, a gold IRA does not have to do this. This makes gold IRA accounts excellent options for people who prefer to keep their money invested instead of spending it.
Another benefit of owning gold through an IRA is that you get to enjoy the convenience of automatic withdrawals. This means that you don't need to worry about making monthly deposits. To avoid missing a payment, direct debits can be set up.
Finally, the gold investment is among the most reliable. Because it isn't tied to any particular country its value tends be steady. Even in economic turmoil, gold prices tends to remain relatively stable. Gold is a good option for protecting your savings from inflation.
Can I have a gold ETF in a Roth IRA
A 401(k) plan may not offer this option, but you should consider other options, such as an Individual Retirement Account (IRA).
Traditional IRAs allow contributions from both the employer and employee. Another way to invest in publicly traded companies is through an Employee Stock Ownership Plan.
An ESOP can provide tax advantages, as employees are allowed to share in company stock and the profits generated by the business. The money in the ESOP can then be subject to lower tax rates than if the money were in the individual's hands.
Also available is an Individual Retirement Annuity. An IRA allows for you to make regular income payments during your life. Contributions to IRAs don't have to be taxable
Can the government take your gold?
You own your gold and therefore the government cannot seize it. You earned it through hard work. It belongs entirely to you. There may be exceptions to this rule. If you are convicted of fraud against the federal government, your gold can be forfeit. You can also lose precious metals if you owe taxes. However, even if you don't pay your taxes, your gold can be kept as property of the United States Government.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (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)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (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)
- 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)
External Links
cftc.gov
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
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- You want to keep gold in your IRA at home? It's not exactly legal – WSJ
finance.yahoo.com
How To
How to Keep Physical Gold in an IRA
An easy way to invest gold is to buy shares from gold-producing companies. But, this approach comes with risks. These companies may not survive the next few years. Even if they do survive, there is still the possibility of losing money to fluctuating gold prices.
An alternative option would be to buy physical gold itself. This means that you will need to open an account at a bank, bullion seller online, or purchase gold from a trusted 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. You'll get a receipt showing exactly what you paid, so you'll know if any taxes were missed. There's also less chance of theft than investing in stocks.
There are however some disadvantages. You won't get the bank's interest rates or investment money. It won't allow you to diversify any of your holdings. Instead, you'll be stuck with what's been bought. Finally, the tax man might ask questions about where you've put your gold!
If you'd like to learn more about buying gold in an IRA, visit the website of BullionVault.com today!
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By: Terence Zimwara
Title: Altify: A New Alternative Investment Platform for South African Investors
Sourced From: news.bitcoin.com/south-african-crypto-exchanges-revix-and-bitfund-merge-with-austrian-digital-asset-platform/
Published Date: Sun, 03 Dec 2023 08:30:08 +0000
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