BitGold – What Is It and How Does It Work?

Welcome to my BitGold review. I am assuming you have landed here because you wanted to get more information about this relatively new and innovative company called BitGold.  In a nutshell, BitGold is an online service that allows you to buy gold and have it stored in a secure offsite vault of your choice around the world. In essence, BitGold is like having an online Savings Account backed by Gold. In 2015, BitGold teamed up with GoldMoney allowing them to start offering the world’s first PrePraid Card available to US Citizens.

I have been a BitGold customer for over a year now and I can tell you without a doubt, they offer a legitimate service. With any new venture I get into, I tread lightly and test the waters. My first step was to sign up and fund my account with a small amount of cash which in turn went to the purchase of X amount gold (measured in grams). I had questions in the beginning and called customer service a few times and was impressed by their courtesy professionalism and the ability to ease any apprehension I had.

Once I started feeling more comfortable, I made two more medium size purchases. I forgot to mention that you have the choice of 7 or 8 locations globally to vault your gold. Now that I was accumulating a decent amount of gold, I wanted to test the ease of accessing my gold so I requested XXXX amount of physical gold to be sent to me and within a two days, I had the gold in my possession (Gold Dent Overnight Delivery).

Needless to say, these guys were grading high in my books. Last but not least, I applied for the Prepaid GoldMoney AKA BitGold Card. I received the card in about a week but did nothing with it for about 2 more weeks. At that point I decided it was time to test out their Prepaid Card service. I was easily able to fund the card by selling some of my gold transferring the requested amount of USDs after the sale, to my card. (This is all done using your online account just like you would do with any online bank or brokerage account).

I must admit I was a little nervous the first time I used it with my wife at a restaurant but just like my other previous experiences I had had with BitGold up to that point, the transaction was seamless.

Folks, at a time when a global currency crisis is imminent, I thought this was a no brainer. BitGold gives me the ability to stack gold and use it to do commerce real time. As a believer that gold and silver are real money and much safer than the fiat currencies around the world, I made a decision to start dumping the dollar into assets that have stood the test of time.

What better way to have your cake and eat it?

Click Here To Sign Up for a Free BitGold Account

Another Customer Review found on Trust Pilot.Com

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TrustPilot

The new Gold Standard in money

At its most basic level, BitGold allows you to buy gold and have it stored in one or more of seven vault locations around the world. Unlike other companies that require minimum deposits of tens of thousands of dollars or more, BitGold accounts are free to open and deposits can be made in increments as low as 0.001g (4 cents as of April 28). There are no storage fees and basic transaction (buy/sell) fees are only 1%. BitGold offers ACH deposits and redemptions from/to major US and Candian banks at no additional cost beyond the 1% transaction fee. Please refer to the BitGold website for banking options in your country.

A free Prepaid Card MasterCard is available in your choice of currencies: USD, EUR, and GBP. The Prepaid Card is an easy way to access the value of your stored gold. The 1% transaction fee applies when selling gold to load currency to the Prepaid Card.

Physical gold can also be shipped to your home address for a 1% transaction fee plus an additional flat fee of 0.5g plus shipping costs. Physical gold is available in a variety forms from 10g GoldCubes to most common gold bullion coins of various sizes.

As of this writing BitGold also provides the ability to make and receive payments in gold in most countries around the world. In the US the service is currently available in Texas, Colorado, and Ohio.

I have been a BitGold customer since August of 2015 when they first offered ACH deposits from major US Banks. I have tried most of their services and have been very pleased. Customer service responds within the 1-3 day guarantee and has always resolved my issues.

One of the unique features of BitGold is that you own your gold, not BitGold. BitGold simply manages it for you. Additionally your gold is 100% allocated to you. This means that every gram of gold owned by BitGold customers actually exists in the vault and is assigned to a customer.

BitGold complies with the laws and regulations of every country in which it operates. This means that you will be required to prove your identity in order to comply with “Know Your Customer” and “Anti Money Laundering” laws. Further more it has strong internal and external auditing and security procedures. BitGold is listed on the Toronto Stock Exchange as XAU and on the US OTC as BTGDF.

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Rich found this review useful

 

If anyone has any questions, feel free to ask. I am more than willing to answer them best of my ability.

 

Take Care Patriots,

Jim Blake

dual-gmy-cards

Click Here for a Gold-Backed Prepaid Card

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