Introducing Gold-Backed NFTs: A Solution for Wealth Preservation
SwissGold Crypto AG, a regulated crypto issuer based in Zug, Switzerland, has unveiled an innovative solution to address the challenge of wealth preservation in times of inflation and uncertainty. This solution comes in the form of gold-backed non-fungible tokens (NFTs).
The Enduring Stability of Gold
In contrast to depreciating fiat currencies, gold has maintained its stability throughout history and has been regarded as a trusted wealth preserver for centuries. The decision made by the US President in 1971 to abandon the gold standard has resulted in significant devaluation of major fiat currencies, with the dollar losing as much as 97% of its value against gold.
The Surge in Interest for Alternative Assets
As inflation rates continue to rise, there has been a notable increase in interest for alternative assets such as gold and cryptocurrencies. While cryptocurrencies are known for their volatility, gold remains a stable and reliable refuge during times of crisis, hyperinflation, conflict, or natural disasters.
The Importance of Physically Allocated Gold
Gold used as a crisis insurance should be physically allocated, as the paper gold market, which is significantly larger than the available physical gold, can lead to shortages during times of crises. SwissGold Crypto AG recognizes this issue and offers a secure and flexible solution for gold ownership and trading.
Introducing Gold Bars as Non-Fungible Tokens
SwissGold Crypto AG places gold bars of various sizes on the blockchain as non-fungible tokens (NFTs), backed by physical gold. These NFTs can be purchased for as low as $60 for a 1-gram gold bar. One of the significant advantages of SwissGold NFTs is that they come without any storage fees. Token holders also have the option to redeem their NFTs for the physical gold bars they represent at any time.
Additional Features of SwissGold NFTs
SwissGold NFTs provide additional features that enhance their value. Each NFT includes the serial number of the corresponding gold bar, ensuring transparency and authenticity. Furthermore, these NFTs are metaverse-compatible, allowing for virtual display in a 3D representation.
Acquiring SwissGold NFTs
To acquire SwissGold NFTs, visit the official website swissgold.io. The platform accepts various cryptocurrencies and fiat currencies. The gold backing the NFTs is stored securely in Switzerland's high-security vaults, providing peace of mind to investors.
A Pragmatic Alternative for Wealth Preservation
SwissGold's gold-backed NFTs offer a pragmatic alternative for individuals seeking to preserve their wealth during uncertain times. With the stability and security of Switzerland's economic environment, these NFTs provide a reliable avenue for wealth preservation.
For media inquiries, please contact:
Carole Hofmann
media@swissgold.io
About SwissGold Crypto AG
SwissGold Crypto AG is a regulated crypto issuer based in Zug, Switzerland's Crypto Valley. The company specializes in gold-backed NFTs, providing individuals with a secure and flexible way to own and trade gold in a digital format, backed by physical gold bars. For more information, visit the official website swissgold.io.
Frequently Asked Questions
What is a Precious Metal IRA (IRA)?
A precious metal IRA allows you to diversify your retirement savings into gold, silver, platinum, palladium, rhodium, iridium, osmium, and other rare metals. These metals are known as “precious” because they are rare and extremely valuable. These are excellent investments that will protect your wealth from inflation and economic instability.
Precious metals are often referred to as “bullion.” Bullion refers only to the actual metal.
Bullion can be bought via various channels, such as online retailers, large coin dealers and grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. This means you'll receive dividends every year.
Precious metal IRAs have no paperwork or annual fees. Instead, you only pay a small percentage on your gains. Plus, you can access your funds whenever you like.
How is gold taxed in an IRA?
The tax on the sale of gold is based on its fair market value when sold. If you buy gold, there are no taxes. It's not considered income. If you decide to sell it later, there will be a taxable gain if its price rises.
As collateral for loans, gold is possible. Lenders try to maximize the return on loans that you take against your assets. This often means selling gold. The lender might not do this. They may just keep it. They may decide to resell it. In either case, you risk losing potential profits.
You should not lend against your gold if it is intended to be used as collateral. If you don't plan to use it as collateral, it is better to let it be.
Can I purchase gold with my self directed IRA?
Although you can buy gold using your self-directed IRA account, you will need to open an account at a brokerage like TD Ameritrade. Transfer funds from an existing retirement account are also possible.
The IRS allows individuals to contribute up to $5,500 annually ($6,500 if married and filing jointly) to a traditional IRA. Individuals may contribute up to $1,000 ($2,000 if married, filing jointly) directly into a Roth IRA.
If you do decide to invest in gold, you'll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts can be described as financial instruments that are determined by the gold price. You can speculate on future prices, but not own the metal. You can only hold physical bullion, which is real silver and gold bars.
Statistics
- 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)
- 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)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
External Links
finance.yahoo.com
bbb.org
irs.gov
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement plans
How To
Online buying gold and silver is the best way to purchase it.
Before you can buy gold, it is important to understand its workings. Gold is a precious metal similar to platinum. Because of its resistance to corrosion and durability, it is very rare. It's difficult to use, so most people prefer purchasing jewelry made from it rather than actual bars.
There are two types of gold coins available today – one type is legal tender, while the other is called bullion. Legal tender coins are those that are intended for circulation in a country. They typically have denominations of $1, $5 or $10.
Bullion coins are only minted to be used for investment purposes. Their value increases over time because of inflation.
They aren't circulated in any currency exchange systems. For example, a person who buys $100 worth or gold gets 100 grams. This gold has a $100 price. The buyer receives 1 gram of gold for every dollar spent.
When you are looking to purchase gold, the next thing to know is where to get it. There are a few options if you wish to buy gold directly from a dealer. You can start by visiting your local coin shop. You could also look into eBay or other reputable websites. You may also be interested in buying gold through private sellers online.
Individuals who sell gold at wholesale and retail prices are called private sellers. Private sellers will charge you a 10% to 15% commission for every transaction. A private seller will usually return less money than a coin shop and eBay. This option is often a great one for investors in gold, as it gives you greater control over the item's value.
Another way to buy gold is by investing in physical gold. Although physical gold is easier to store than paper certificates you will still need to ensure it is safe. You need to make sure that your physical gold is safe by storing it in an impenetrable container like a vault or safety depositbox.
To purchase gold by yourself, you can visit a bank and a pawnshop. A bank will be able to provide you with a loan for the amount of money you want to invest in gold. Customers can borrow money from pawnshops to purchase items. Banks usually charge higher interest rates that pawn shops.
A third way to buy gold? Simply ask someone else! Selling gold can be as easy as selling. Contact a company such as GoldMoney.com, and you can set up a simple account and start receiving payments immediately.
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By: Media
Title: SwissGold Crypto AG Launches Gold-Backed NFTs for Wealth Preservation
Sourced From: news.bitcoin.com/swissgold-crypto-ag-launches-gold-backed-nfts-for-wealth-preservation/
Published Date: Tue, 07 Nov 2023 12:15:30 +0000
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