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BitGold

  • 05-03-2016 9:11pm
    #1
    soirish
    Registered Users Posts: 713 ✭✭✭


    BitGold (not to be confused with digital currency bitcoin) offers international savings and payment services that allow customers and businesses to make payments and hold savings with the precious metal, which was used as currency as far back 5000 years ago.

    The company says that all the gold it stores will "allocated"—“meaning that it is acquired as specific, uniquely numbered, physical pieces of gold, which are owned by the customer,” according to the circular. Customers will also be able to physically withdraw their gold.


    Ownership, Safety, and Security of Your Gold


    https://www.bitgold.com/

    Any feedback?
    .


Comments

  • #2
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    WE dropped the go
    soirish wrote: »
    BitGold (not to be confused with digital currency bitcoin) offers international savings and payment services that allow customers and businesses to make payments and hold savings with the precious metal, which was used as currency as far back 5000 years ago.

    The company says that all the gold it stores will "allocated"—“meaning that it is acquired as specific, uniquely numbered, physical pieces of gold, which are owned by the customer,” according to the circular. Customers will also be able to physically withdraw their gold.


    Ownership, Safety, and Security of Your Gold


    https://www.bitgold.com/

    Any feedback?
    .

    What happens if they go bank rupt? Will you get cents on the dollar, when they have back taxes etc. I wouldnt trust a new company like this

    The Perth mint basically offers the same thing. You can buy certs which are backed by gold in their vault. They have a decent reputation and wont go bankrupt over night.


  • #3
    soirish
    Registered Users Posts: 713 ✭✭✭soirish


    What happens if they go bankrupt?
    This is covered in their terms of service.

    If you're considering Perth Mint's unallocated offering then gold isn't the most suitable option for you.


  • #4
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    soirish wrote: »
    This is covered in their terms of service.

    If you're considering Perth Mint's unallocated offering then gold isn't the most suitable option for you.

    It says they arent regulated like a bank and dont have deposit insurance under Canadian law. If a bank goes bankrupt you safety deposit box isnt covered by the insurance. I cant see how it is different with this company. They are basically saying your gold is safe without giving a solid reason.

    What is wrong with Perth Mint? They are 100% secure. Where as Bitgold is barely 2 years old and a tiny company


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