Gaimin's GMRX Token to Be Incubated by CMC Labs
GAIMIN, the global leader in decentralized data processing power through gaimin.cloud, has been chosen by CoinMarketCap (CMC) to participate in the inaugural CMC Labs accelerator program. CoinMarketCap is the go-to source for news, data, and community engagement in the cryptocurrency market. With over 64 million daily active users, CMC is highly selective in partnering with trusted and proven organizations. The new CMC Labs incubator program aims to collaborate with organizations that demonstrate a strategic ability to deliver innovative products and services in the crypto industry.
Gaimin and the GMRX Token
GAIMIN has been handpicked by CMC to incubate its utility token, GMRX. The GMRX token is designed to support the GAIMIN ecosystem and provide maximum utility to gamers through its games launcher, gaming platform, and monetization engine. Being selected as one of the first incubated projects by CMC is a testament to GAIMIN's strategic approach to product development and services.
GAIMIN CEO Martin Speight expressed his excitement, stating, "We are delighted that CMC has chosen GAIMIN to be an inaugural incubatee for CMC Labs. With CMC's extensive user base and expertise in the crypto industry, we have the perfect platform for the successful launch of our GMRX token."
CoinMarketCap CEO Rush also expressed his enthusiasm, saying, "We are proud to welcome GAIMIN as an incubatee of CMC Labs. GAIMIN is a pioneer in the Web3 gaming space, providing gamers with new opportunities to earn rewards and own in-game assets. We look forward to working closely with the GAIMIN team to help them reach their full potential."
GAIMIN's Strategic Approach and Anticipation
GAIMIN has been developing its products and services over the past 5 years, with a specific focus on the gaming ecosystem and user community. The company's partnership agreements for monetizing data processing services with AI-focused companies, combined with a working product, played a crucial role in CMC's decision to select GAIMIN for its incubator program. GAIMIN is now positioned as one of the most highly anticipated token listings in 2024, and this agreement with CMC ensures that the launch of GMRX onto the crypto market will be a resounding success.
Mutual Benefits for GAIMIN and CMC Labs
The incubator agreement between GAIMIN and CMC Labs brings mutual benefits to both organizations. GAIMIN gains access to CMC's 64 million daily active users and their expertise in the crypto market. In return, CMC benefits from brand exposure on Gaimin Gladiators' esports team merchandise and social media posts. Gaimin Gladiators achieved over 12 billion impressions in 2023, and further growth is anticipated in 2024 through the success of existing teams and the acquisition of new game genres and teams.
About CoinMarketCap
CoinMarketCap is the world's leading price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Its mission is to provide unbiased, high-quality, and accurate information to empower retail users in making informed decisions about cryptocurrencies.
About GAIMIN
GAIMIN.IO Ltd (GAIMIN) is a gaming company based in the UK and Switzerland, focused on helping the gaming community monetize the computational power of their gaming PCs. GAIMIN has created a decentralized data processing network that utilizes the underutilized processing power of gaming PCs to deliver supercomputer performance on a global scale.
Through its free-to-download PC application, GAIMIN monetizes the underutilized performance by providing supercomputer-level data processing services from a network of independent processing devices powered by GAIMIN.CLOUD. Initially, the focus is on video rendering and AI data processing, with future plans to power blockchain computations. GAIMIN rewards users with its own cryptocurrency, GMRX, which can be used for purchases on the GAIMIN Marketplace or converted to fiat or other cryptocurrencies.
For more information on GAIMIN, visit their website: www.gaimin.io
To download the GAIMIN app, visit: www.gaimin.gg
For the latest updates, follow GAIMIN on social media:
- Facebook: https://www.facebook.com/Gaimin.io
- Instagram: https://www.instagram.com/gaimin_io/
- Twitter: https://twitter.com/GaiminIo
- LinkedIn: https://www.linkedin.com/company/gaimin/
- YouTube: https://www.youtube.com/c/Gaimin
- Telegram: https://t.me/+XFTC523WeTI1MjA0
- Discord: https://discord.gg/SmYsmVS8x7
- TikTok: https://www.tiktok.com/@gaimin.gg
For further information, please contact:
– Andrew Faridani, Chief Marketing Officer for GAIMIN (based in Toronto, Canada): andrew@gaimin.io
– Marc Bray, Chief Communications Officer for GAIMIN (based in Manchester, UK): marc@gaimin.io
Frequently Asked Questions
Can the government take your gold?
Your gold is yours, so the government cannot confiscate it. It is yours because you worked hard for it. It belongs to your. This rule could be broken by exceptions. 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.
How does gold perform as an investment?
The supply and the demand for gold determine how much gold is worth. It is also affected by interest rates.
Due to limited supplies, gold prices are subject to volatility. Additionally, physical gold can be volatile because it must be stored somewhere.
What are 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 have total control over how much each year you take out. There are many types of IRAs. Some are better suited for college students. Others are designed for investors looking for higher returns. Roth IRAs are a way for individuals to make contributions after the age of 59 1/2, and then pay taxes on any earnings upon retirement. However, once they begin withdrawing funds, these earnings are not taxed again. This account is a good option if you plan to retire early.
Because it allows you money to be invested in multiple asset classes, a ‘gold IRA' is similar to any other IRAs. Unlike a regular IRA where you pay taxes on gains, a gold IRA doesn't require you to worry about taxation while you wait to get them. People who prefer to save their money and invest it instead of spending it are well-suited for gold IRAs.
Another advantage to owning gold via an IRA is the ease of automatic withdraws. This means that you don't need to worry about making monthly deposits. Direct debits could be set up to ensure you don't miss a single payment.
Finally, gold remains one of the best investment options today. Because it isn’t tied to any specific country, gold’s value tends to stay stable. Even during economic turmoil, gold prices tend to stay relatively stable. Therefore, gold is often considered a good investment to protect your savings against inflation.
How is gold taxed in an IRA?
The fair market value of gold sold is the basis for tax. When you purchase gold, you don't have to pay any taxes. It's not considered income. If you sell it later, you'll have a taxable gain if the price goes up.
You can use gold as collateral to secure loans. Lenders look for the highest return when you borrow against assets. For gold, this means selling it. It's not guaranteed that the lender will do it. They may just keep it. They might decide to sell it. You lose potential profits in either case.
You should not lend against your gold if it is intended to be used as collateral. It is better to leave it alone.
How do you withdraw from an IRA that holds precious metals?
You first need to decide if you want to withdraw money from an IRA account. After that, you need to decide if you want to withdraw funds from an IRA account. Next, make sure you have enough money in order for you pay any fees or penalties.
You should open a taxable brokerage account if you're willing to pay a penalty if you withdraw early. You will also have to account for taxes due on any amount you withdraw if you choose this option.
Next, you need to determine how much money is going to be taken out from your IRA. This calculation is dependent on several factors like your age when you take the money out, how long you have had the account, and whether or not your plan to continue contributing.
Once you know what percentage of your total savings you'd like to convert into cash, you'll need to determine which type of IRA you want to use. Traditional IRAs permit you to withdraw your funds tax-free once you turn 59 1/2. Roth IRAs have income taxes upfront, but you can access the earnings later on without paying additional taxes.
Once these calculations have been completed you will need to open an account with a brokerage. Many brokers offer signup bonuses or other promotions to encourage people to open accounts. To avoid unnecessary fees, however, try opening an account using a debit card rather than a credit card.
You will need a safe place to store your coins when you are ready to withdraw from your precious metal IRA. Some storage facilities can accept bullion bar, while others require you buy individual coins. You will need to weigh each one before making a decision.
Bullion bars are easier to store than individual coins. However, you'll need to count every coin individually. However, keeping individual coins in a separate place allows you to easily track their values.
Some people prefer to keep their coins in a vault. Others prefer to store them in a safe deposit box. Regardless of the method you prefer, ensure that your bullion is safe so that you can continue to enjoy its benefits for many years.
What amount should I invest in my Roth IRA?
Roth IRAs allow you to deposit your money tax-free. These accounts cannot be withdrawn until you turn 59 1/2. You must adhere to certain rules if you are going to withdraw any of your contributions prior. First, you cannot touch your principal (the original amount deposited). This means that regardless of how much you contribute to an account, you cannot take out any more than you initially contributed. If you take out more than the initial contribution, you must pay tax.
The second rule is that you cannot withdraw your earnings without paying income taxes. Also, taxes will be due on any earnings you take. Consider, for instance, that you contribute $5,000 per year to your Roth IRA. Let's say you earn $10,000 each year after contributing. This would mean that you would have to pay $3,500 in federal income tax. The remaining $6,500 is yours. Because you can only withdraw what you have initially contributed, this is all you can take out.
If you took $4,000 from your earnings, you would still owe taxes for the $1,500 remaining. In addition, 50% of your earnings will be subject to tax again (half of 40%). You only got back $4,000. Even though you were able to withdraw $7,000 from your Roth IRA,
There are two types if Roth IRAs: Roth and Traditional. A traditional IRA allows you to deduct pre-tax contributions from your taxable income. Your traditional IRA allows you to withdraw your entire contribution plus any interest. You have the option to withdraw any amount from a traditional IRA.
Roth IRAs do not allow you to deduct your contributions. After you have retired, the full amount of your contributions and accrued interest can be withdrawn. There is no minimum withdrawal requirement, unlike traditional IRAs. You don't have to wait until you turn 70 1/2 years old before withdrawing your contribution.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (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)
- (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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
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
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 legal – WSJ
bbb.org
How To
Investing gold vs. stocks
Gold investing as an investment vehicle can seem extremely risky these days. Many people believe that investing in gold is not profitable. This belief arises because most people believe that the global economy is driving down gold prices. People believe that investing in gold would result in them losing money. In reality, however, there are still significant benefits that you can get when investing in gold. Below we'll look at some of them.
Gold is one of the oldest forms of currency known to man. It has been in use for thousands of year. It was used all around the world as a reserve of value. It's still used by countries like South Africa as a method of payment.
The first point to consider when deciding whether or not you should invest in gold is what price you want to pay per gram. The first thing you should do when considering buying gold bullion is to decide how much you will spend per gram. If you don't know your current market rate, you could always contact a local jeweler and ask them what they think the price is.
It's also important to note that, although gold prices are down in recent months, the costs of producing it have risen. So while the price of gold has declined, production costs haven't changed.
You should also consider the amount of your intended purchase when considering whether you should buy or not. If you plan to buy enough gold to cover your wedding rings then it is probably a good idea to wait before buying any more. This is not a wise decision if you're looking to invest in long-term assets. You can profit if you sell your gold at a higher price than you bought it.
We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. We recommend that you investigate all options before making any major decisions. Only after you have done this can you make an informed choice.
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By: Media
Title: CoinMarketCap Selects Gaimin for CMC Labs Incubator Program
Sourced From: news.bitcoin.com/coinmarketcap-announces-gaimins-gmrx-token-to-be-incubated-by-cmc-labs-in-a-historic-first/
Published Date: Thu, 04 Jan 2024 18:00:19 +0000
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