Bulgarian football club Botev Plovdiv, the oldest football club in Bulgaria, has taken a significant step towards embracing Bitcoin and accelerating grassroots adoption of the digital currency in a strategic partnership with JAN3, a leading technology company focused on expanding access to Bitcoin. Botev Plovdiv aims to become the premier Bitcoin-native sports club, according to a press release sent to Bitcoin Magazine.
Bitcoin at the Core of Club's Strategy
"Bitcoin is central to our club's strategy," stated Botev owner Anton Zingarevich. "We're inspired by the global success stories of Bitcoin adoption and are excited to bring this innovation to Botev, our fans, and the city of Plovdiv. JAN3's cutting-edge tools are instrumental in this journey."
Innovative Measures and AQUA Wallet Integration
This collaboration introduces innovative measures to integrate Bitcoin into the club's operations and engage with its fan base. The AQUA Wallet, developed by JAN3, also introduces "Botev Mode," aiming to make transactions more accessible and efficient for fans and the local community.
Enhancing Fan Experience and Education
JAN3 told Bitcoin Magazine that with the integration of their AQUA wallet, the idea is for the club to introduce discounts or even a cashback program for paying in bitcoin, and that "the club will also aim to educate Bulgarian fans that take an interest in Bitcoin, teaching them how to use it not only for team purchases but also integrate in their daily lives."
Brand Integration and Milestone Achievement
As part of the partnership, Botev Plovdiv's team jerseys will feature JAN3's logo. The integration of the AQUA wallet into the club's ecosystem marks a significant milestone in bridging the gap between professional sports and Bitcoin.
Football and Bitcoin – Universal Appeal
"Very few things in life are as universal as football and Bitcoin," commented JAN3 CEO Samson Mow. "With this partnership we hope to bring Bitcoin closer to football, and the billions of football fans around the world closer to Bitcoin. We have already seen what Bitcoin can do for companies and countries, now imagine what it can do for your favorite team."
Pioneering Initiatives and Future Prospects
This partnership between Botev Plovdiv FC and JAN3 sets the stage for more pioneering Bitcoin-focused initiatives, solidifying the club's status as a beacon for Bitcoin adoption and achieving greater success in UEFA competitions.
Frequently Asked Questions
Is gold IRAs a good way to invest?
You should buy shares in companies that produce gold. You should buy shares in these companies to make money from investing in gold and other precious metals such as silver.
However, there are two drawbacks to owning shares directly:
You can lose money if you hold onto your stock too long. Stocks that fall are less than their underlying asset (like silver) and can end up losing more money. This could mean that you lose money rather than making it.
Second, waiting for the market to recover before selling your gold holdings could result in you missing out on potential profits. You may have to wait for the market to recover before you can make a profit on your gold holdings.
If you prefer to keep your investments apart from your finances, physical gold is still an option. A gold IRA can help diversify your portfolio and protect against inflation.
You can learn more about gold investing by visiting our website.
Can you make money in a gold IRA
It is important to first understand the market in order to be able to invest and secondly to identify what products are currently available.
Trading is not a good idea if you don’t know what you need.
You should also find a broker who offers the best service for your account type.
You have many options, including Roth IRAs as well as standard IRAs.
You may also wish to consider a rollover if you already have other investments, such as stocks and bonds.
Can I take physical possession of gold in my IRA?
Many people wonder if they are allowed to possess physical gold within an IRA account. This is a valid question as there is no legal route to it.
You can still own gold in an IRA if you look at the law.
Most people don’t realize just how much they could save by putting your gold in an IRA, rather than keeping it at home.
It's very easy to dispose of gold coins, but much harder to make an IRA. If you decide that you want to keep your gold at home, you'll be responsible for two tax payments. Once for the IRS and once for the state where you live.
You can also lose your gold and have to pay twice the taxes. Why would you keep your gold in the house?
You may argue that it is necessary to have the assurance that your gold safe in your home. To protect yourself from theft, store your gold somewhere that is more secure.
If you are planning to visit frequently, your gold should not be left at home. If you leave your precious gold unattended thieves will easily steal it.
An insured vault is a better choice for gold storage. You can rest assured that your gold is safe from theft, fire, earthquake, flood, and other hazards.
One advantage of storing your gold safely in a vault is the fact that you don't have to worry too much about property tax. Instead, any gains that you make by selling your gold will be subject to income tax.
If you prefer not to pay tax on your precious metals, an IRA may be a good option. An IRA allows you to keep your gold free from income taxes, even though it earns interest.
Since you aren't required to pay capital gains tax on your gold, you'll have access to the full value of your investment whenever you want to cash it out.
Federally regulated IRAs mean that you won't face any difficulties in transferring your gold to another bank if it moves.
Bottom line: An IRA can allow you to own gold. Fear of losing it is the only thing that will hold you back.
How can I choose an IRA?
Understanding your account type will help you find the right IRA. This includes whether you are looking for a traditional IRA or Roth IRA. It is also important to determine how much money you have to invest.
The next step is determining which provider fits your situation best. Some providers offer both accounts and others only specialize in one.
Last, consider the fees associated to each option. Fees may vary from one provider to another and could include annual maintenance fees as well. Some providers charge a monthly fee depending on how many shares you have. Others charge only once per quarter.
Do You Need to Open a Precious Metal IRA
This will depend on whether or not you have an investment objective and what level of risk you are willing to accept.
You should start an account if you intend to retire with the money.
It is likely that precious metals will appreciate over the long-term. They also offer diversification benefits.
Additionally, silver and gold prices tend to move in tandem. They make a good choice for both assets and are a better investment.
You shouldn't invest precious metal IRAs if you don't plan on retiring or aren't willing to take risks.
What Is a Precious Metal IRA?
Precious metals can be a good investment for retirement accounts. They have held their value since biblical times. A great way to diversify and protect your portfolio is to invest in precious metals such silver, gold, and platinum.
Some countries also allow citizens to keep their money in foreign currency. You can purchase gold bars from Canada and keep them at your home. Then, when you travel to Canada, you can make the same gold bars and sell them for Canadian Dollars.
This is an easy way to invest precious metals. It's especially useful if you live outside of North America.
Statistics
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
- The IRS also allows American Eagle coins, even though they do not meet gold's 99.5% purity standard. (forbes.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal so that 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)
External Links
en.wikipedia.org
takemetothesite.com
regalassets.com
forbes.com
- Gold IRA, Add Some Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
Precious metals approved by the IRA
IRA-approved metals are great investments. You have many options to diversify your portfolio, protect yourself against inflation, and from silver coins to gold bars, there are many.
There are two types of precious metal investment products. Physical bullion products such bars or coins are considered to be physical assets, as they exist in tangible form. However, exchange-traded fund (ETFs), which are financial instruments, track the price movement of an underlying assets, such as gold, and can be purchased directly from the company issuing them. ETFs can be purchased directly from the company issuing them, and trade in the same way as stocks on stock exchanges.
There are many different types of precious metallics available to purchase. Silver and gold are frequently used for ornaments and jewelry making, while palladium and platinum are more often associated with luxury items. Palladium is more stable than platinum and therefore better suited for industrial purposes. While silver is used in industry, decorative uses are preferred over it.
Due to the high cost of refining and mining raw materials, physical bullion products are more expensive. However, they are generally safer than paper currencies and provide buyers with greater security. In particular, when the U.S. dollar is less powerful than it once was, consumers might lose confidence in the currency. Physical bullion products, on the other hand, do not depend on trust between companies or countries. Instead, they are backed by governments and central banks, giving customers peace of mind.
Gold prices fluctuate based on supply and demand. Demand rises, and the price goes up. On the other hand, supply falls when demand exceeds demand. This dynamic allows investors to profit when the gold price fluctuates. These fluctuations are good for investors who have physical bullion products as they get a better return on their investment.
Precious metals can't be affected by economic recessions. The price of gold is likely to continue rising as long the demand for it remains strong. Precious metals, which are safe havens for times of uncertainty, are therefore considered to be safe havens.
The most sought-after precious metals are:
- Gold – Gold is the oldest precious metal. Gold is also called “yellow-metal”. While gold is a well-known element, it is very rare to find underground. Most of the gold reserves in the world are located in South Africa.
- Silver – Silver, which is second in value after gold, is silver. Silver, like gold, is extracted from natural deposits. Silver is extracted from ore, not rock formations, unlike gold. Because of its malleability and durability, as well resistance to tarnishing and conductivity, silver is widely used by industry and commerce. The United States accounts for more than 98% global silver production.
- Platinum – The third most precious precious metal is platinum. It has many industrial uses, including catalytic converters, fuel cells, and high-end medical equipment. In dentistry, platinum is used to make bridges, crowns, and fillings.
- Palladium: Palladium is the 4th most valuable precious metallic. Manufacturers are gaining more interest in palladium due to its strength & stability. It is used in electronics and aerospace technology, as well as military technology.
- Rhodium – Rhodium is the fifth most valuable precious metal. Rhodium, although it is rare, is highly sought after for its use in automotive catalysts.
- Ruthenium – Ruthenium is the sixth most valuable precious metal. There are limited quantities of platinum and palladium. However, ruthenium is abundant. It is used in steel making, aircraft engines, and chemical manufacturing.
- Iridium – Iridium is the seventh-most valuable precious metal. Iridium has a significant role in satellite technology. It is used in the construction of orbiting satellites that transmit TV signals and telephone calls.
- Osmium – Osmium is the eighth most valuable precious metal. Osmium's ability to withstand extreme temperatures makes it a common metal in nuclear reactors. Osmium can also be used in jewelry and medicine as well as cutting tools.
- Rhenium – Rhenium is the ninth most valuable precious metal. Rhenium is used in refining oil and gas, semiconductors, and rocketry.
- Iodine – Iodine is the tenth-most valuable precious metal. Iodine has been used in radiography, pharmaceuticals, and photography.
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