Coinbase, a crypto exchange, has been approved to offer its complete suite of institutional and retail crypto products and services in the Netherlands. Coinbase stated that they have made strides in working with regulators, government policymakers and regulators to shape the future responsibly.
Dutch Regulator Approves Coinbase
The Nasdaq-listed cryptocurrency exchange Coinbase announced Thursday that it had "successfully registered with the Dutch central banking (De Nederlandsche Bank – DNB as a crypto service providers."
This registration will enable Coinbase to offer its full range of ecosystem, retail, and institutional products to customers in the Netherlands.
"We are proud that we are the first major crypto exchange to be approved for DNB registration approval," claimed the company, noting that Coinbase Europe Ltd. as well as Coinbase Custody International Ltd. were both listed on the DNB's public registry as crypto service providers.
Nana Murugesan (Vice President of Coinbase's International and Business Development) commented:
We are committed to working with regulators, government policymakers and other stakeholders to create the future we want.
The executive stated that "The Netherlands is an important international market for crypto and that Coinbase will bring the potential of crypto economy to this market here"
Coinbase stated that its customers are located in almost 40 European countries via dedicated hubs in Ireland and the U.K. Additional licenses and registrations are being sought by the company in several markets.
The Dutch central bank warned Binance that it illegally offered crypto exchange services to the country in August. The regulator warned that this could increase the risk of customers getting involved in money laundering and terrorist financing. The DNB issued a $3.4 million fine to Binance Holdings in July for "very serious" violations. The central bank granted authorization for the crypto exchange to continue operating in the country.
What do you think of Coinbase being approved to offer its complete suite of crypto products in the Netherlands? Comment below.
Frequently Asked Questions
How much of your portfolio should be in precious metals?
This question can only be answered if we first know what precious metals are. Precious elements are those elements which have a high price relative to other commodities. This makes them extremely valuable for trading and investing. Gold is today the most popular precious metal.
There are many other precious metals, such as silver and platinum. The price of gold fluctuates, but it generally remains stable during times of economic turmoil. It is also relatively unaffected both by inflation and deflation.
In general, all precious metals have a tendency to go up with the market. That said, they do not always move in lockstep with each other. If the economy is struggling, the gold price tends to rise, while the prices for other precious metals tends to fall. Investors are more likely to expect lower interest rates making bonds less attractive investments.
Contrary to this, when the economy performs well, the opposite happens. Investors are more inclined to invest in safe assets, such as Treasury Bonds, and they will not demand precious metals. They become less expensive and have a lower value because they are limited.
To maximize your profits when investing in precious metals, diversify across different precious metals. It is also a good idea to diversify your investments in precious metals, as prices tend to fluctuate.
What Precious Metals Can You Invest in for Retirement?
Silver and gold are two of the most valuable precious metals. They're both easy to buy and sell and have been around forever. They are a great way to diversify your portfolio.
Gold: This is the oldest form of currency that man has ever known. It's stable and safe. It is a good way for wealth preservation during uncertain times.
Silver: Silver has been a favorite among investors for years. It is an excellent choice for investors who wish to avoid volatility. Silver tends to move up, not down, unlike gold.
Platinum: A new form of precious metal, platinum is growing in popularity. It's like silver or gold in that it is durable and resistant to corrosion. It is however more expensive than its counterparts.
Rhodium: Rhodium is used in catalytic converters. It is also used to make jewelry. And, it's relatively cheap compared to other types of precious metals.
Palladium: Palladium has a similarity to platinum but is more rare. It's also much more affordable. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
How does gold perform as an investment?
Supply and demand determine the gold price. It is also affected negatively by interest rates.
Due to limited supplies, gold prices are subject to volatility. In addition, there is a risk associated with owning physical gold because you have to store it somewhere.
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. However, there are disadvantages to this type investment.
You could lose all of your accumulated money if you take out too much from your IRA. The IRS may prevent you from taking out your IRA funds until you reach 59 1/2. You will likely have to pay a penalty fee if you withdraw funds from an IRA.
Another disadvantage is that you must pay fees to manage your IRA. Most banks charge 0.5% to 2.0% per annum. Other providers charge monthly management costs ranging from $10-50.
If you prefer your money to be kept out of a bank, then you will need insurance. A majority of insurance companies require that you possess a minimum amount gold to be eligible for a claim. You may be required by some insurers to purchase insurance that covers losses as high as $500,000.
If you decide to open a gold IRA, it is important to know how much you can use. Some providers limit the number of ounces of gold that you can own. Others let you choose your weight.
You will also have to decide whether to purchase futures or physical gold. Physical gold is more costly than gold futures. However, futures contracts give you flexibility when buying gold. They allow you to set up a contract with a specific expiration date.
It is also important to choose the type of insurance coverage that you need. The standard policy does not include theft protection or loss caused by fire, flood, earthquake. The policy does not cover natural disasters. If you live in a high-risk area, you may want to add additional coverage.
Additional to your insurance, you will need to consider how much it costs to store your gold. Storage costs will not be covered by insurance. For safekeeping, banks typically charge $25-40 per month.
To open a IRA in gold, you will need to first speak with a qualified custodian. Custodians keep track of your investments and ensure compliance with federal regulations. Custodians are not allowed to sell your assets. Instead, they must retain them for as long and as you require.
After you have decided on the type of IRA that best suits you, you will need to complete paperwork detailing your goals. You must include information about what investments you would like to make (e.g. stocks, bonds and mutual funds). You should also specify how much you want to invest each month.
After filling out the forms, you'll need to send them to your chosen provider along with a check for a small deposit. The company will then review your application and mail you a letter of confirmation.
A financial planner is a good idea when 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.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (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)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (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)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 1991 – WSJ
- How do you keep your IRA Gold at Home? It's Not Exactly Lawful – WSJ
investopedia.com
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement accounts
irs.gov
How To
Tips for Investing Gold
Investing in Gold is a popular investment strategy. This is because there are many benefits if you choose to invest in gold. There are several options to invest in the gold. Some people purchase physical gold coins. Others prefer to invest their money in gold ETFs.
Before you purchase any type or gold, here are some things to think about.
- First, verify that your country permits gold ownership. If so, then you can proceed. If not, you may want to consider purchasing gold from overseas.
- Secondly, you should know what kind of gold coin you want. You can go for yellow gold, white gold, rose gold, etc.
- Third, consider the cost of gold. Start small and move up. You should diversify your portfolio when buying gold. Diversify your investments in stocks, bonds or real estate.
- Last but not least, remember that gold prices fluctuate frequently. Be aware of the current trends.
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By: Kevin Helms
Title: Coinbase Receives Approval to Offer Full Suite of Crypto Products in Netherlands
Sourced From: news.bitcoin.com/coinbase-receives-approval-to-offer-full-suite-of-crypto-products-in-netherlands/
Published Date: Sat, 24 Sep 2022 00:30:29 +0000
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