Investing in Bits and Bytess: Strategies For Making Money With Bitcoins

Well into the second half of 2018 and it’s been a white-knuckle roller coaster ride for most. With Ether shedding 44 percent of its value in just two weeks and the media speaking of a Bitcoin bubble, is it possible to lose faith in crypto but remain bullish on blockchain? Apparently; if continued corporate statements like the UBS blockchain endorsement are anything to go by. But can you really separate cryptocurrency and blockchain?

UBS Bullish on Blockchain, Bearish on Bitcoin

CEO of Swiss investment banking giant UBS, Sergio Ermotti, came out with a bold claim recently. He said that blockchain was “almost a must” for business. UBS blockchain support is nothing new, however. Neither is their stance that cryptocurrencies are risky and will probably never become mainstream currencies.

UBS CEO Sergio ErmottiYet, when it comes to blockchain, UBS changes their point of view. The bank believes that blockchain technology can help companies become more efficient and reduce their operating costs across the board, from healthcare to finance. This implies a separation between cryptocurrencies and the technology that they run on.

But is it possible to separate the two? Furthermore, since the original vision of Satoshi was to send peer-to-peer electronic payments without the need for a middleman, UBS blockchain support could be misplaced.

Disrupt or Be Disrupted

“While we are doubtful cryptocurrencies will ever become a mainstream means of exchange, the underlying technology, blockchain, is likely to have a significant impact in industries ranging from finance to manufacturing, health care, and utilities,” UBS wrote in October of 2017.

Adding that, “Just as [the] internet has transformed our lives with email, e-commerce, or smartphone apps, we believe blockchain as an infrastructure technology can power future disruptive technologies through distributive ledgers, smart contracts, tokens or identity management.”

So, what about cutting out the middleman? The centralized authority taking its fees? UBS blockchain research does acknowledge a certain level of risk, although they limit this to technological shortcomings and an uncertainty as to which application will benefit the industry most. They fail to mention whether digital currencies will threaten fiat ones, or if central authorities will be cut out of the loop.

In fact, within the financial sector, UBS predicts that blockchain technology will have irreversible and positive effects. And UBS blockchain support doesn’t stop at words. The bank is also investing in research into distributed ledgers and smart contracts in its business model.

UBS currently holds a number of blockchain patents. Yet, despite Ermotti’s bullish stance, their blockchain activities are dwarfed by other large banks and credit card companies. The list includes American Express, BBVA, Mizuho Financial Group, Goldman Sachs, BNP, and Bank of America (who’s buying up blockchain patents like they’re expecting a war). Is this a bid to disrupt or be disrupted? Or a defensive maneuver to protect themselves against blockchain innovation?

Blockchain and Bitcoin Are One and the Same

Plenty of people criticize Ermotti’s point of view, seeing it as a convenient way of taking a politically acceptable view and a safe position. Leaving the door open without scaring away existing clients. Others believe that more than just convenient, it misses the point completely. After all, blockchain and cryptocurrency are one and the same.

Consider the Bitcoin network for a moment. The way it was created requires miners to believe that the value of the Bitcoin they are rewarded will increase over time (or at least, not decrease in value). Otherwise, there is no incentive or rational reason to invest in expensive mining equipment, electricity, and time.

Bitcoin mining company, Bitmain would benefit from an IPO

So, for those like UBS that are skeptical on Bitcoin, but busy singing the praises of blockchain, they may not fully understand. In an interview with Malta’s Steve Tendon, a member of the country’s Blockchain Taskforce and author of Malta’s National Blockchain Strategy, he expressed his concern with viewpoints such as the UBS blockchain one.

He argued that many regulators and institutions tried to draw a distinction between blockchain and cryptocurrencies, viewing crypto as a bad thing because of its criminal associations and scams, but blockchain as a positive technology with infinite possibilities.

“There is no way you can have a smart contract platform that is as sophisticated as the one that Ethereum has implemented today (but there will be others in the future) unless you also have a cryptocurrency that is being used to “pay” for the computation. So the distinction between cryptocurrency and blockchains are really artificial: they are just two aspects of the same coin,” he said.

Final Thoughts

Ermotti and the UBS team may be making headlines with their views on the transformative technology. Calling blockchain “crucial and disruptive” is all well and good. But frowning on Bitcoin at the same time may just be missing a trick.


This article by Christina Comben was previously published on Coincentral.com

About the Author:

Christina is a B2B writer and MBA, specializing in fintech, cybersecurity, blockchain, and other geeky areas. When she’s not at her computer, you’ll find her surfing, traveling, or relaxing with a glass of wine.

Blockchain Remittance

Blockchain remittance firms are experiencing record growth thanks to an increase in global migration. As populations continue to migrate, the need to send money back to their home countries is growing. Blockchain remittance firms are providing this essential service at a reduced rate.

These international payments are vital to the livelihood of millions of people around the world. They’re primarily used for living expenses such as food, transportation, and education. Making these statements more tangible, East Asian countries received $129 billion in remittance payments last year according to the World Bank.

Remittance Stats

A recent study revealed that the remittance sector has grown to a staggering $585 billion industry. In 2017 alone, $439 billion was sent to developing countries, equating to around 700 million families living off of remittance payments globally.

Remittance payments have also become the main source of foreign income for many nations. According to a May report in Forbes, Mexico’s remittance payments have now superseded their oil industry to become the country’s main source of foreign income.

Mexico isn’t alone in their dependence on remittance payments. The World Bank released their 2016 remittance statistics in April of this year. The report revealed that remittance payments are now more stable than private capital flow in terms of international growth. This means that the remittance industry could be a smart investment in most parts of the world.

The High Costs of Sending Remittance Payments

Sending money internationally isn’t cheap, and non-profits such as the World Bank have been combating these high fees for years. Since 2008, remittance fees have declined 7.32 percent. This decrease saved migrants $90 billion in fees over the same time frame.

Whenever someone sends money internationally, numerous third-party organizations are involved in the transaction. Each verification step adds a small fee to the total cost. In addition, international conversion rates must be accounted for. World Bank reports have averaged these costs to be around 7.45 percent of each transaction processed.

Blockchain Remittance Fintech: Technology to Help Millions

Blockchain remittance companies are taking the industry to the next level by facilitating a frictionless experience for users. Traditionally, international money transfers can take days to complete due to the number of verifications that are required. Blockchain remittance companies provide instant money transfer services.

Remittance Firms: Abra

Africa relies heavily on remittance payments. Until recently, large financial firms, such as Western Union and MoneyGram, dominated the market. This changed when blockchain remittance companies began to spring up across the continent. Firms such as Abra are now changing the local markets.

The Abra platform allows users to transfer money for free across the globe. In addition to these cost savings, users are able to send transactions directly from their mobile devices. Abra offers a direct peer-to-peer money transfer technology that doesn’t require the use of any bank. And, the platform automatically deposits funds onto debit cards that it provides for users.

Remittance Payments via Abra

Abra is pioneering remittance FinTech with this all-inclusive approach. This non-reliance on the traditional banking system is important in developing nations because they often lack the means to implement the expensive infrastructure required to institute these organizations. By circumventing the current system, Abra users don’t have to worry about how to transfer money from blockchain to bank account.

Migrants are saving on fees and conversion rate costs by removing the middleman from the remittance system. These savings are too large to ignore, and now, industry leaders are researching this technology.

Blockchain Remittance on the Rise

For the first time ever, this year’s Global Money Transfer Summit (GMTS) will feature blockchain remittance FinTech. The GMTS is the largest international money transfer conference in the world. Every year, representatives from major financial institutions are chosen to speak at this event.

Among those invitees are representatives from Ripple, Stellar, and Cashaa. These popular cryptocurrency representatives will discuss the future of the money transfer industry and why blockchain technology is an essential path for the industry to travel.

Remittance Cryptocurrencies: Ripple

Ripple (XRP) was one of the first bank-focused cryptocurrencies to enter the market in 2012. Designed primarily for large international inter-bank money transfers, Ripple’s developers describe it as a real-time gross settlement system. The Ripple platform utilizes the XRP token to facilitate these global transfers instantly.

Ripple has managed to secure major partnerships with numerous large financial organizations including Fidor Bank in Munich, Bank of America, and Santander. In May 2015, Ripple became AML compliant after receiving a $700,000 fine from FinCEN for not complying with the Bank Secrecy Act. Today, the cryptocurrency remains in the top five coins in terms of market capitalization.

Remittance Fintech: A New Horizon

Blockchain technology is transforming the remittance sector, and Ripple isn’t alone in their quest to service the international money transfer industry. Today, numerous remittance-focused cryptocurrencies are available. You can expect to see further integration of this game-changing technology.

Now that the industry has openly acknowledged the benefits that blockchain technology brings to the table, the demand for blockchain-based remittance services is expected to increase significantly. This is great news for the millions of families that rely on this lifeline to survive.


This article by David Hamilton was previously published on Coincentral.com

About the Author:

David Hamilton aka DavidtheWriter has published thousands of cryptocurrency related articles. Currently, he resides in the epicenter of the cryptomarket – Puerto Rico. David is a strong advocate for blockchain technologies and financial sovereignty.

You’ve heard a lot about decentralization lately, but what exactly is decentralized internet? And what do people want when they seek it?

The internet comprises a network of networks, and if one piece fails, the internet as a whole still continues to function. You may have experienced times when you could not log into your internet account, for example. Perhaps a server crashed. Or maybe a cable disconnected. But when you logged in again you saw the internet continued to function without you. And so the world turns. The internet exists as a decentralized structure, to begin with.

Some aspects of the internet operate under a centralized authority, however. If you want to publish a new website, for example, you have to purchase a domain name from a provider because a central authority controls domain names.

But do people clamor for the peer-to-peer administration of domain names? Do people even think about domain name administration? Let’s take a closer look.

Infrastructure

The internet defines an infrastructure, similar to plumbing or an electric grid. A plumbing system maintains a reservoir of potable water and a network of pipes and controls. If a new house desires running water, a protocol exists to bring that house water. Thus it is with the internet.

Are users demanding new plumbing, though? When people turn their computers on, the internet connects, business transacts, everything functions normally, and that appears to be sufficient for most of the population.

The World Wide Web

When people talk about a decentralized internet, sometimes it sounds more like they’re referring to the world wide web. Tim Berners-Lee created the web in 1989, and it operates as a layer on top of the internet. It functions primarily as a user interface and provides browsers and links so people can navigate to websites.

You may be thinking that a decentralized internet could bring a better user interface then. But anyone experiencing the user interface of typical cryptocurrency wallets and blockchain sites might well be skeptical.

The web implemented a number of design choices reasonable people might well argue against. But centralization hardly ranks as an issue. Users freely choose their own browser. They decide if they want a browser from a large centralized corporation like Microsoft or Google or from a smaller product like Tor.

The Tor Project

Tor Browser

People who ask for a decentralized internet look for privacy and control of their own data.

Computer scientists founded the Tor Project in December of 2006 with the mission of enabling anonymous communication. Obviously, anonymous communication enforces privacy. Tor, an acronym for “the onion router,” protects against network surveillance and traffic analysis.

The onion router provides anonymity with an algorithm of layers along the route of communication. Each layer only knows about the layer before it and the layer after it. The origin and final destination remain unknown to the intervening layers. In cryptocurrency, some privacy coins such as Monero implement a similar algorithm.

Tor publishes many products, including the Tor browser. The Tor browser builds on the same foundation Firefox uses, and Tor provides it as free and open source software. But nothing ever really comes for free.

Users of corporate browsers pay by allowing those corporations to harvest user data. Users of the Tor browser pay primarily with slower response times and a generally more cumbersome user experience. Besides, some websites require user login accounts, so you provide your identity to them anyway.

OpenBazaar

Open Bazaar Marketplace

Targeted advertising arises as one of the more annoying aspects of providing your personal information on the internet. Every purchase you make defines an exploitable aspect of your personality, and advertisers hound you ever after.

OpenBazaar provides an online peer-to-peer marketplace with no middlemen and no fees for using the platform. You buy and sell on OpenBazaar by downloading their app. This makes you a node on the network, and unlike traditional e-commerce sites, no central authority rules.

You can make payments with over fifty different cryptocurrencies. And your transactions are secure and anonymous.

To avoid scams and ensure customer satisfaction, OpenBazaar utilizes a feature of Bitcoin known as multi-signature escrow. The buyer and seller agree to a mutually trusted third party before transacting business. The payment goes to an escrow account. If the transaction satisfies both buyer and seller, the funds are released. In the case of a dispute, the trusted third party settles the matter.

Floating Above the Cloud

The internet reigns as a platform for conducting business, and consequently businesses move to decentralization through cloud computing. The cloud services organizations by providing virtual, configurable computing resources. This means companies don’t need to own their own servers and mainframes (known in the industry as “big iron”), and they do not need to purchase resources from a physical data center.

Cloud providers allow users to create and configure virtual computers in software. Users thereby create servers as powerful or modest as their needs dictate.

But the cloud providers like Amazon Web Services (AWS) and Microsoft Azure own the massive amount of equipment required for this task. And although the cloud frees businesses of the need to purchase and maintain their own big iron and servers, cloud services are expensive.

Can Decentralized Blockchain Computing Replace the Cloud?

The simplest service provided by cloud computing has to be disk space for file storage. Put a file on a system on the cloud, then retrieve it later.

In a blockchain file storage scenario, a peer-to-peer network exists. Nodes with excess disk capacity lease disk space to customers. Customers then upload, store, and download files as needed. Users pay with cryptocurrency on a blockchain. Customer files are encrypted, preventing the host or anyone else from reading private data. The files are also broken into multiple parts and distributed across multiple nodes. This distribution also enforces privacy since a host only has a fragment of the user’s information.

Note that in this process, no centralized authority controls or sells the disk space. Peers sell available disk space to other peers.

Multiple companies now provide platforms for storage using decentralized blockchains. The Sia Storage Platform launched in 2015, and Siacoin powers commerce on their network. Similarly, Storj also provides decentralized storage and uses Storj coin. Finally, the Filecoin project developed by Protocol Labs represents another popular choice.

Decentralized Internet – Concluding Thoughts

To some extent, decentralization resides in the eye of the beholder.

The blockchain network for Bitcoin is decentralized in terms of the consensus algorithm. But given the cost of hardware resources and electricity, wealth is required to mine it. And simple common sense tells us the majority of Bitcoin wealth is centralized in a relatively few affluent early adopters.

When people speak of a decentralized internet, the gist of the matter seems to be the lack of privacy on the web, the lack of control over our personal data, and the desire for affordable resources.

No one product defines the decentralized internet, but blockchain technology provides at least some capabilities to achieve these goals in a variety of functional areas. Time will tell if the products on offer meet user expectations or not.


This article by Wilton Thornburg was previously published on Coincentral.com

About the Author:

Wilton Thornburg is a software engineer, currently based in the greater Boston area.

Written by Gary Ross

This article was originally published on UpCounsel.

Cryptocurrency

The meteoric rise of cryptocurrencies has taken the world by storm. Innovators, investors, users, and governments are scrambling to wrap their heads around cryptocurrency and the blockchain technology that they rely upon. The emergence of a new market and business model has created great opportunities for participants, but it also carries significant risk.

Cryptocurrencies present an inherently unique challenge to governments because of their new technology, cross-jurisdictional nature, and frequent lack of transparency. Governments are struggling to develop new ways to regulate cryptocurrencies, adapt existing regulations, and identify fraudulent schemes. Cryptocurrencies and their regulations are evolving before our eyes, and this article will provide a brief background on cryptocurrencies and an overview of where cryptocurrency regulations currently stand.

What are cryptocurrencies?

Cryptocurrency is, by any other name, a currency—a medium of exchange used to purchase goods and services. Or, as some have suggested, cryptocurrency is a “peer-to-peer version of electronic cash.” However, this currency has two qualities that distinguish it from traditional bills and coins.

First, cryptocurrency is a virtual currency that is created through cryptography (i.e. coding) and developed by mathematical formulas through a process called hashing. Second, unlike traditional bills and coins that are printed and minted by governments around the world, cryptocurrency is not tied to any one government, and thus is not secured by any government entity. The fact that cryptocurrencies are not secured by a government authority has led to concerns from critics that this is the second coming of Tulipmania, because we are ascribing value to an otherwise valueless item. However, the potential for cryptocurrencies as a medium of exchange remains enormous.

What is blockchain?

Blockchain is the technology at the heart of most cryptocurrencies, and explaining the technology in detail would require a blog post of its own. What is important to know is that blockchain is a record of peer-to-peer transactions categorized into blocks on a distributed ledger. Despite the obtuse terminology, blockchain functions similarly to a local bank authorizing and recording a transaction, but instead of only one party holding the entire ledger book, the transactions are recorded communally by member nodes, with each node being a computer in a peer-to-peer distributed network.

The blockchain can confirm a transaction within minutes, removing errors that exist when trying to reconcile and audit separate ledgers and transactions. Whenever a transaction takes place, the miners on the blockchain develop a new hash and digital signature to update the ledger and create a new “block.” This block, or recorded transaction, is time-stamped and encrypted and will remain on the blockchain for life.

lockchain is the technology at the heart of most cryptocurrencies

Regulation in the US – Utility Tokens v. Investment Tokens

In the United States, there has been no federal regulation of cryptocurrencies. Instead, cryptocurrencies are often grouped into two non-binding categories: (1) investment tokens that fall under the purview of already existing U.S. securities laws like the Securities Act of 1933 and the Securities Exchange Act of 1934, and (2) utility tokens, which remain largely unregulated (for now).

Security Tokens

Whether the tokens being offered in connection with a particular cryptocurrency are security tokens is decided on a case-by-case basis that even experienced securities lawyers can disagree upon. Tokens are usually analyzed under the four-part Howey Test below to see if the token is in fact a security. Securities must meet the following criteria:

  1. An investment of money
  2. In a common enterprise
  3. With an expectation of profits
  4. Predominantly from the efforts of others

Each characteristic of the token is analyzed against this framework to see if the cryptocurrency is in reality functioning as a new-age security. If it is, then regulators treat it as such, and cryptocurrencies must then be registered and handled with all of the same disclosures and precautions as any other security sold in the United States or to U.S. investors.

Utility Tokens

Cryptocurrencies can also be categorized as non-security utility tokens. These tokens purport to offer intrinsic utility and value, and are typically instrumental in powering the blockchain technology. These tokens function more like commodities than securities, and while they may act like currency in a fully functional network, they also have other values.

However, having a utility token with a properly formed and functioning network does not preclude said token from being labeled a security by the SEC. In In the Matter of Munchee, Inc., a purported utility token with a non-functioning network was labeled a security by the SEC. While labeling a token without a functioning network as a security – as it has no present utility – is not unexpected, the SEC also concluded that: “even if [Munchee] tokens had a practical use at the time of the offering, it would not preclude the token from being a security.”

After analyzing the Munchee Tokens under the Howey test, the SEC concluded that they were investment contracts because purchasers of the tokens had an expectation of profits predominantly from the efforts of Munchee and its staff. The SEC further concluded that Munchee had primed such expectations through its marketing efforts.

While this new case does not eliminate the distinction between utility and security tokens, it does caution that, when deciding whether a given token is a security, the SEC will look beyond utility at the character of the instrument, and base their conclusion based on the terms of the offer, the plan of distribution, and the economic inducements held out by the token issuer.

State Regulation

So far only the state of New York has issued any kind of regulation specifically regarding cryptocurrencies: the BitLicense. The BitLicense is New York’s attempt to control cryptocurrencies within its borders by requiring cryptocurrency businesses to register and comply with several different disclosure and financial obligations. The regulation has been divisive, and many businesses have rallied against its high costs. While a few companies have applied for and received the license, most other companies have simply left the state or stopped offering services to its residents.

Regulation Abroad – The Ever-Shifting Jurisdictional Question

The United States is not the only country grappling with how best to regulate cryptocurrencies. Many cryptocurrency businesses face daunting questions regarding in which jurisdictions to form and to do business in. In the end, the question is quite difficult and fact-specific, requiring communication between legal counsel in different jurisdictions and taking into account nebulous and piecemeal country-by-country regulations. It is impossible to do a detailed analysis without knowing how a country’s existing securities laws, financial regulations, and banking regulations will operate (or will be adapted to operate) with cryptocurrencies. The fact that cryptocurrency-specific regulations are still developing does little to add clarity, and makes the analysis even more challenging. Yet a few global trends are noticeable:

Suspending Cryptocurrencies

Some notable countries, like China, and South Korea, have suspended cryptocurrencies. These countries have cited the risk of fraud and the lack of adequate oversight in suspending cryptocurrencies and their exchanges, forcing cryptocurrency companies and exchanges to relocate.

Regulating Cryptocurrencies

Other countries, like Japan and Australia, have adopted disclosure and regulatory measures, or have companies register with the applicable government authority. Several countries have also tried to implement disclosure or registration regulatory regimes when it comes to cryptocurrencies, but such regimes are cumbersome and expensive to fledging companies.

Cryptocurrencies as Commodities

On the other hand, Switzerland and Singapore, two of the countries at the forefront of the cryptocurrency market, have simply stated that cryptocurrencies are assets not currency, and that they will treat them as such under existing regulations.

Conclusion

Ultimately, cryptocurrency regulation remains in its infancy. Piecemeal regulation has already begun around the world as governments enact new regulations to control and legitimize cryptocurrencies, fold cryptocurrencies into existing regulations, or ban them outright. These splintered attempts at controlling a global phenomenon will keep the cryptocurrency market volatile, and pose a challenge to innovators, investors, and users. They will continue to work in the cryptocurrency space while pushing for legislation and regulation that will remove ambiguity and legitimize cryptocurrencies. At the same time, they must grapple with the possibility that new regulations may be confusing, detrimental, or have negative inadvertent effects.


This article was previously posted on Upcounsel.com

About the Author:

Experienced corporate & securities attorney eager to help you and your business reach its goals. My services range from fund formation and capital raising (e.g. Reg D offerings, crowdfunding) to contract negotiation and compliance with securities and other regulations. I have extensive experience with cryptocurrency and non-U.S. companies.

Prior to co-founding my firm, I worked in the law firms of Sidley Austin, Alston & Bird, and Holland & Knight. From 2009 to 2012, I served in the U.S. Department of the Treasury, where I oversaw financial agents engaged by Treasury to provide asset management and other services relating to the Troubled Asset Relief Program (TARP).

 

 

Goldmoney

Are you a potential investor seeking a reliable investment opportunity? Goldmoney is the perfect, high-yield investment opportunity for you.

Goldmoney has numerous intrinsic qualities that make it a necessity for investors to hold in their portfolios. In this article, we will focus on the benefits of this opportunity, why it belongs in your portfolio as an investor and the different ways that you can invest in the gold market.

Does It Still Pay To Invest In Gold?

Absolutely Yes!

Gold has always played a vital role in the international monetary system and is still very important in the global economy today. Of all precious metals, gold is the most popular as an investment. Smart investors buy gold as a way to preserve wealth and diversify risk.

To maximize your investment in the gold market, you need a reliable and professional gold-based financial institute such as Goldmoney.

What Is Goldmoney?

Goldmoney is the world’s most trusted name in precious metals. It safeguards close to $2 billion of assets, representing 34.1 tonnes of gold, for clients in 150 countries. This makes it one of the largest privately owned gold reserves in the world.

What Are The Benefits Of Goldmoney?

Gold is wonderful; you can’t own too much gold! So why is Goldmoney so beneficial? Find below, a detailed explanation of the many benefits of Goldmoney:

Simplicity of Ownership and Trading
The concept of gold ownership is quite simple on the platform. As an investor, you can buy gold bullion or coins in a very simplified process. You can monitor prices easily and when it comes to selling, Goldmoney Inc. made it a very straightforward and transparent process.
In summary, Gold is easy to buy and easy to sell on the platform. In addition, it has global use and can be traded everywhere worldwide.

Lowest Fees
Goldmoney offers the least expensive way to buy, sell, store, and take delivery of physical precious metals. It is much cheaper than ETFs and coins.

100% Secured
All client assets are segregated, fully-reserved (1:1), and securely stored in insured vaults around the world. This totally eliminates counterparty risk that exists with other forms of investments which all have potential fraud or theft risks.

Dependable and Reliable
You’ll sleep better at night knowing your investment is in safe hands. Investing in Goldmoney offers a calming effect. The company is a publicly listed corporation on the TSX (XAU) and regulated by the JFSC. Financial statements are audited by a Big Four accounting firm (KPMG).

Redeemable Bullion
Unlike many other forms of investment, Goldmoney is tactile and tangible. Owners can touch, feel, and hold it. Precious metals are redeemable in bullion bars at vaults and Goldmoney Branches, or in a selection of coins and bars that can be shipped to clients via Schiff Gold.

Low Risk
Goldmoney is a hugely useful asset to have as part of a balanced investment portfolio. It is a must-buy for reasons such as high liquidity, low risk, and other reasons such as:- Higher profits on long term (more profitable than bank’s low interest on investment),
– Safe haven investment,
– Inflation hedge (Gold rises as inflation rises. Cash devalues),
– Currency swing and economic uncertainty hedge.

Tax Advantages
Tax relief of up to 45% is available on gold bars as part of a pension. Goldmoney offers IRA and SIPP accounts for accumulating precious metal savings and deferring tax exposure.

Goldmoney

Banking Services:

Goldmoney offers unique institutionalized banking services such as Prepaid Card available in plastic, 18K gold, and silver. Free gold transfers and business tools for earning in gold. Multi-currency accounts in up to nine currencies and free FX conversions.

They also offer professional institutional services for family offices, corporations, and trusts that provide access to pricing, execution, and custody technology through an API.

Goldmoney is the easiest way to invest in physical gold and silver bullion online whether you’re new to the investment world or you’re a professional. From buying physical gold to cryptocurrencies (Bitcoin), investors have several different options when it comes to investing in Goldmoney.

Not only that, current clients have access to the world’s leading precious metals research, done by a team of analysts with over 180 years of combined experience navigating markets. You will receive Market Insights, Updates, Live Prices & Charts.

With such amazing benefits, Goldmoney is literally a gold mine! You will get more returns on your investment using this secured platform. Still contemplating? Opening a Holding with Goldmoney will convince you!


This article by Stephen Collie was previously published on Steve Collie Marketing.

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Amazon Price: $27.97 $27.97 (as of June 14, 2018 6:38 pm – Details). Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on the Amazon site at the time of purchase will apply to the purchase of this product.

Historically the value of any country's currency has come from the fact that that currency has been backed up by gold or some other precious metal. Meaning that a paper banknote of any particular denomination was worth a certain amount of gold and could be taken to any recognized bank or currency exchange and redeemed for its value in gold coins at least that was the case until August 15, 1971. When United States president Richard Nixon removed the United States, or rather "suspended" the direct convertibility standard of paper currency, meaning that a paper banknote could no longer be exchanged for its direct value in gold, and shortly thereafter. Several Western European countries such as England and France removed themselves from the gold standard as well and today no recognized government or country uses the gold standard, which essentially means that a country's currency only has value, because the government in power and the world economy says that it does. So what would we do if the stock market crashed tomorrow like it did in 1929? Or we begin to experience hyperinflation similar to the way Africa did in the late 1960s and early 1970s well fortunately for us, there are bitcoins a form of digital currency subject one government’s whims for financial system. The value of the coins is determined more or less by the community of bitcoin users on any given day.

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