PLEASE Specify deposits in GAU

79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
@Melanie et al.,

New Year. Old request.

Please add the ability to specify exact GAU amounts for deposit. It exists for withdrawal. Why not for deposit? :'(

This is a rant of mine from day 1. With compute technology being what it is, I see no earthly reason why I can not specify a GAU deposit amount and have it calculate the final BBO + fee in my default fiat currency. This is FinTech. Emphasis on Tech.

Who else is with me on this? @GoldMatters @GoldIsCurrency @RocketDog @GrandpaBrian @SpontaneousOrder @GoldStandardCanadian @Pinkdog ?

Please make it so <3
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Comments

  • Pfuster12Pfuster12 Posts: 8 Tin ✭
  • GoldStandardCanadianGoldStandardCanadian Posts: 145 Bronze ✭✭✭
    This would actually be fairly easy to calculate. A simple javascript code could be used on the deposit page for someone to calculate what X amount of grams equals in the FIAT currency of choice, then someone can enter their amount. For now you could just refer to the top of the Goldmoney page and see what the per gram value of gold is.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited January 12
    @GoldStandardCanadian

    This would actually be fairly easy to calculate. A simple javascript code could be used on the deposit page for someone to calculate what X amount of grams equals in the FIAT currency of choice, then someone can enter their amount. For now you could just refer to the top of the Goldmoney page and see what the per gram value of gold is.

    Unfortunately the quote at the top of the page is Average Best Bid Offer (BBO) across ALL Vaults not even the Average BBO at your vault of choice much less the actual price.

    Cf. http://support.goldmoney.com/customer/en/portal/articles/1871471-the-goldmoney-network-and-gold-pricing

    All I am asking is that one specify the exact amount of gold in grams GAU) one wants to deposit. The webpage shows its best estimate of what the fiat amount will be. Once the OK/proceed/deposit button is hit the system calculates the exact price and executes the order, then reports the final price.

    Considering everything else the software does, why can this not be added?
  • Mr_Troy_OzMr_Troy_Oz Posts: 56 Copper ✭✭
    I agree with every thing @79Au197 has said.
    It would make for better clarity when conducting transactions from a 'platform users point of view'.
  • DeOmnibusDubitandumDeOmnibusDubitandum Posts: 26 Copper ✭✭
    I am also quite surprised that this is not yet implemented. Please make it happen - it would make things much easier, as I usually want to buy a specific amount of gold and don't really care much about the amount of fiat currency spent on it.
  • Skookum_JimSkookum_Jim Posts: 122 Bronze ✭✭✭
    @DeOmnibusDubitandum It does work now, you will have to dribble a little with decimals in your fiat currency of "choice" the deposit window will re calculate and show amount of gold. I usually deposit even grams as that looks more neat but is rather pointless really :)
  • DeOmnibusDubitandumDeOmnibusDubitandum Posts: 26 Copper ✭✭
    @Skookum_Jim That's exactly what I am also doing at the moment. :smile: But as you said... it's rather pointless... :smiley:
  • DinchDinch Posts: 63 Copper ✭✭
    This is my hope too. I've often desired the ability to change the price at the top of the page to be the price I'd be selling at, since the BBO and the subsequent estimate of how much my gold is worth based on that is useless. If I need to redeem some of my gold, I'd like the price at the top to be the price I'd be redeeming at! I'd like to know the value of my gold holdings in my fiat currency based on what I can sell it for. The BBO value is meaningless as it shows I have more fiat value in my gold holdings than I can sell it for. It shouldn't be difficult to do as @79Au197 mentions for sure, and I can't imagine it would be difficult to add the option to change the price listed at the top of the page to the best bid or best offer based on customer preference. The BBO doesn't provide me with much useful information unless the spread is also given.
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