What's up with BitGold?

Discussion in 'Gold' started by Charles Thorn, Aug 30, 2015.

  1. Charles Thorn

    Charles Thorn New Member

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    Here's a quote from The GATA Dispatch I got in my email today about BitGold...

    Josh Crumb, co-founder of BitGold says:
    "The system charges a 1 percent fee to exchange cash into gold and back but storage is free. It also allows users to transfer their gold value to a prepaid credit card, so they can actually buy a cup of coffee with their gold holdings, Crumb said. It gives the ability without having to go to coin shops and shave off some flakes of gold to buy something"

    Just in these 3 short sentences I see 2 things that make me wonder:
    1. Storage is free?
    Can this be right? What's the old saying, "If something is too good to be true it isn't."
    2. It also allows users to transfer their gold value to a prepaid credit card, so they can actually buy a cup of coffee with their gold holdings?
    I don't know about anyone else but I really don't plan to buy coffee or anything with my gold for some time to come. I'm stacking for the foreseeable future.

    Can someone enlighten me about this BitGold thing?
     
  2. SpacePete

    SpacePete Well-Known Member Silver Stacker

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  3. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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  4. Charles Thorn

    Charles Thorn New Member

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  5. Charles Thorn

    Charles Thorn New Member

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    s
    Not quite Mr GoldenEye...

    BitGold (according to site):
    Free Storage
    Every gram of gold in your account is your property: fully reserved, allocated, and redeemable under Bailment Law in Canada as per our Customer Agreement.
    https://www.bitgold.com/features

    Perth Mint (according to site)
    Free Storage for only these types of accounts
    Unallocated and Pool Allocated. Allocated has a fee.
    https://www.perthmint.com/storage/pricing.html

    If I trusted BitGold I might put some of my gold there for safety and diversification. Am I crazy?
     
  6. Altima

    Altima Well-Known Member Silver Stacker

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    Only reason why I want to try out BitGold (won't even bother with affiliate links and sh*t) cos I want to get one of those cool 10g gold cubes!

    [​IMG][​IMG]

    [​IMG][​IMG]
     
  7. Charles Thorn

    Charles Thorn New Member

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    I see what you mean... I would love to have one of those too!
     
  8. SpacePete

    SpacePete Well-Known Member Silver Stacker

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  9. SilverDJ

    SilverDJ Well-Known Member

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    Ok, those gold cubes are sexy.
     
  10. m0xty

    m0xty Member

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    want this tooo...really love to hold this for real in my hand
     
  11. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

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    I also want a bitgold cube, that's great
     

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