Can someone summarize current/potential competitors to Goldmoney?

mr1mr1 Posts: 358 Bronze ✭✭✭
edited June 2017 in Goldmoney Business
Anyone up to date on the differences and similarities between Goldmoney and other existing/potential competitors? It'd be nice to have a concise summary listing many of the bullion storage options, as well as other new ventures, and their pricing and feature differences and potential for market disruption.

For example:
http://bullionvault.com
http://GoldSilver.com
http://thesafehouse.sg
http://OneGram.org
http://zengold.com
http://dgx.io

I'm sure there's many more, but those are a few off the top of my head. I may get around to digging in to everything I can find at some point, but if someone already has that knowledge I'd love to hear your summary.

Not sure if it would be best to reply to this thread, or make the summary be its own post, and then just link it here. Its up to whoever wants to post.

Comments

  • GoldIsCurrencyGoldIsCurrency Posts: 1,748 Gold ✭✭✭✭✭
    I agree with Tex, there is no other comparable service. Goldmoney has monetized gold so you can easily spend it at traditional retailers or withdrawl into cash via an ATM that accepts mastercard and that makes Goldmoney number ONE above the rest. The Prepaid Goldmoney Mastercard is the golden offering that the others lack.

    I did go through the companies you listed and noted many of those other companies charge substantially more for storage as well as having monthly minimum charges which wouldn't bode well for the average person. Most are also not very clear how much they charge on top of spot for gold. Rather scary offerings by some lacking transparency of their services.

    Another reason why I feel Goldmoney is the leader by far is being publicly owned. Being listed on a governed stock exchange offering full transparency provides me with a comfort level none of the others provide. Having met the management team and knowing the class of investors behind Goldmoney also provides additional reassurance to my comfort level.

    For myself Goldmoney is the only option for the reasons I listed above. I personally wouldn't touch the rest with a 20 foot pole.
  • Marco_1983Marco_1983 Posts: 152 Bronze ✭✭✭
    I too think Goldmoney is the N.1 platform for precious metals. However, OneGram is interesting due to Crypto/Blockchain tech and I heard GoldSilver is coming out with allocated storage soon so I'm curious how they will compete with Goldmoney.

    I think the MOST IMPORTANT feature that Goldmoney has and that every PM platform in general should have, is being able to send payments with metal. This will be CRUCIAL for every future exit strategy. (Example: If I want to buy a piece of farmland in Costa Rica with my overvalued metals 5-10 years from now, I have to be able to send a metal payment via online platform, since I will not be able to carry 1000oz of Silver on a plane).

    The MasterCard is just a bonus imho. it is not the main reason Goldmoney is what it is. Again, the main reason is being able to send payments online from your your Phone or Laptop. The only downside is that the recipient has to have a Goldmoney account as well. However, Goldmoney could be the next PayPal in terms of popularity in the near future, so this shouldn't be a problem.
  • BigMouseBigMouse Posts: 81 Copper ✭✭
    This could be the one. https://paytm.com/ It is very popular in India. Alibaba has some ownership in this company.
  • tomartotomarto Posts: 102 Copper ✭✭
    Also Peter Schiff [https://schiffgold.com/news/ ]has an account at Goldmoney.


    5 Jan 2017
Sign In or Register to comment.