Formerly known as Bitgold, Goldmoney is an investing platform that launched in March of 2015. They let you buy precious metals with fiat currencies, as well as send payments to other users using their Goldmoney account. Currently, you can buy gold, silver, platinum and palladium.
You can sign up for a Goldmoney Holding account and buy, sell, or redeem gold using various payment methods, such as bank transfer, crypto currency, Paypal, and many others.
There is a lot of doubt surrounding Goldmoney, including rumors that it could be a scam. As someone who has been a customer for several years, I will give you an honest review of Goldmoney - it is a scam or is it legit?
Why Invest in Gold? A Brief History of Gold...
First I want to give you a brief history of gold & precious metals. Every diversified investor will tell you that investing in gold is a good idea. Gold and silver is good for long term storage and wealth building. While it's a good idea to have stocks, mutual funds, and ETF's in your portfolio, if you want to be truly diversified, you should invest in gold & precious metals.
Unlike paper currency, gold has maintained its value throughout the ages. It is more reliable than the US Dollar, whose value is decreasing and will eventually become worthless.
Although the price of gold can be volatile in the short term, it has always maintained its value over the long term. Through the years, it has served as a hedge against inflation and the erosion of major currencies, and thus is an investment well worth considering.
Why Use Goldmoney?
Why should you use Goldmoney when there are many other companies that let you invest in gold?
With Goldmoney you can buy gold in different currencies. After you sign up, just make a deposit with a payment method of your choice.
Users can send and receive gold as payment to and from any Goldmoney user or seller for free. Gold can be sent as payment to non-Goldmoney users with email or mobile phone.
You can access your money at any time with a Goldmoney prepaid debit card. Since many major credit cards are accepted globally, this makes it more convenient for you to access your money.
Most importantly, all your money is backed by actually gold bullion. The company has gold cubes in storage in their headquarters. You can redeem these gold cubes via physical delivery.
Features of Goldmoney
Here are some of the key features that sets Goldmoney apart from other gold investment mediums:
- Goldmoney is unique in that you can redeem your money in the form of gold cubes - these small cubes are worth 10g of gold each
- You are investing in gold grams, rather than entire bars of gold, which makes it affordable for most people
- You can buy gold using one of the following ways: bank wire, credit card, Paypal, UnioinPay, or deposit using Bitcoins
- Send or receive gold payments to any Goldmoney user at no extra cost
- You can redeem your gold via bank wire, physical gold, or using their Goldmoney Prepaid Card - this will be explained in detail below
- You can request a Goldmoney Prepaid Card - you can use it like any debit card, as long as you have money in your Goldmoney balance
- They have a referral program that lets you earn 25% of the user's deposit
How do I sign up?
Signing up is fast and easy. Just go to the link below to register:
https://goldmoney.com/
All you need is your email address, your name, and your address. To deposit or withdraw money from your account, you can connect a bank account or credit card after registration.
There is a short approval process that needs to take place if you want to open a Goldmoney Holding account. It takes 2-3 days for approval, and after that you can begin invesint in precious metals right away.
Please watch these videos about Goldmoney to learn more
Bitgold Prepaid Card
Upon request, Goldmoney will send you a prepaid debit card once you're approved. You can use this card like any debit card and withdraw money from an ATM (for a small fee). Use it to make purchases at the local supermarket or restaurant (for no fee).
This is in my opinion the coolest feature of Goldmoney. The card gives you instant access to the gold in your account, treating it like a bank, even though it is an investment account. It is better than waiting for the bank wire, which takes up to 3 days to process. Plus, the design looks pretty cool and sleek. So if you can, get the Goldmoney Prepaid Card right away.
I just got my Goldmoney Prepaid Card in the mail a few days ago and everything works as stated. The wait time might be a little long, but you will receive your card eventually, so be patient. I recommend that right after you register for Goldmoney, apply for the prepaid card immediately afterwards.
**Update** Goldmoney Prepaid Card
Since their rebranding to Goldmoney, the BitGold prepaid card is no longer active. You can get the new Goldmoney prepaid card, the application process is the same - the only difference is the name. The card works the same way as before.
Hidden Benefits of Goldmoney
One of the nice features of this platform is that you get free gold on your birthday. This happens automatically on the day of your birthday, when I logged into my account on my birthday I got a nice surprise.
Even though this benefit is not marketed, it is a nice gesture made by the generous folks at Goldmoney. Free money is always appreciated.
The point of crypto currency is to be able to transfer money easily around the world, something that traditional banks are unable to do. Despite this new technology, not many places are adapting crypto currency. The folks at Goldmoney, however, have adapted the use of crypto currency to fund your account.
With crypto currency you can only fund your account, not withdraw. Still, being able to use crypto currency is a big deal, because it's faster than a bank wire and much much cheaper. Every time I invest in gold, my preferred method is crypto currency.
Currently the bank wire fee to deposit is $40 and the withdraw fee is $20. I don't know about you, but that is too damn expensive. If you want to deposit a small amount of money, there is no point because the fee is too high and it makes it not worth it. If you have a lot of money, then this fee is no big deal for you. For example, if you want to invest 10k or more, then a $40 fee is nothing. If you want to make a test deposit, I suggest you use other methods.
They also have the option to let you deposit through Paypal. I find this to be really convenient, as I always have a balance from Paypal from online sales. It is much faster and cheaper than using bank wire. Since Paypal is worldwide, it is accessible to most people, and you'll find that it is very convenient for you. Besides crypto currency, Paypal is my preferred way to make a transfer.
You can also store your balance in fiat money instead of precious metals. This option is good for those who are not long term investors. Not everyone wants to store gold for 5-10 years. This is good for short term traders who want to buy low and sell high. Transferring between precious metals and fiat is straightforward, and orders are processed within 24 hours.
In addition, you can transfer metal to metal without having to go through fiat currency, if that's what you want. IE. You can transfer from gold to silver from the home screen. Pay attention to the amount of grams and the conversion rate.
Affiliate/Referral Program
Their referral program is pretty lucrative, giving you 25% of your referral's deposit. A user that signs up under your referral link must first be verified by Goldmoney, then make a deposit in precious metals. You will receive 25% commission of that amount.
For more details about their referral program, visit their terms & conditions page.
To get your referral link, log into your Holding account and go to the main menu. Scroll down until you see Referral Program and click on it. You will see a screen like the screenshot below. You will see your referral link as well as the default vaults that are used to store your commissions. You can get paid one of four precious metals, depending on what your referral purchases.
Downsides of Goldmoney
Despite all its features, there are a few downsides to using Goldmoney. The first issue is that it is a very new platform, barely 4 years old. In those 4 years, their platform has changed quite a bit. When they launched they were known as BitGold, and sometime down the road they rebranded themselves to Goldmoney.
This may not be a big deal to some people, but it is an issue if you're using their affiliate program. As they rebranded their business, their affiliate program has changed quite a bit too. So you have are actively marketing Goldmoney, you and your subscribers might get confused. Although lately their platform hasn't had major changes lately, they seem to be stabilizing.
As mentioned before, their bank wire fees are too expensive. They do give you alternative ways to transfer funds to and from your account, so this complaint is a minor one.
My Final Thoughts...Is Goldmoney Legit?
Goldmoney as a company is completely transparent, and therefore they are not a scam, but rather, a legit investment opportunity. If you already are a gold investor, then there's no better place than Goldmoney. Your money is safe with them as a long term investment, and no one has had their money disappear overnight.
Being able to store cash in your balance is a huge plus for those who do not want to hold gold long term. If you're the type of person that wants to see your money in physical form, you can redeem gold cubes.
The demand for gold is always high and the price is slowly increasing, so don't wait and get your gold today. Every day you wait the price of gold will increase and you will lose a little bit of your purchasing power. So don't wait and sign up today and reap the rewards later.
Click the link below to sign up to Goldmoney:
https://goldmoney.com/
Although Goldmoney is legit, they do have some downsides though. A major sticking point is that their platform has undergone many changes over the years, so it seems they are indecisive in what their goals are. If they can stabilize their platform, they can be a really powerful asset for gold investors everywhere. They are always launching new features, so expect many exciting things to come. This review will be updated as the I get new information on Goldmoney.
See you on the other side!
Benjamin Louie
Neobux Ultimate Strategy
https://ultimateneobuxstrategy.com/
