Can bit gold be used in the same way that bitcoin is used as far as paying for things?

I just wanted to know that this looks to be a good place for savings especially after Janet Yellen pretty much signaled to us that she has no interprets in strengthening the US dollar from these relatively astronomical levels. I agree with the tallest midget analogy however, we were about to lose our midget status there for a while and gone to being vertically challenged at the rate the dollar would have strengthened if the fed would have decided to raise rates at a steady pace.

Answers

  • GrandpaBrianGrandpaBrian Posts: 679 Silver ✭✭✭✭
    You can "spend" your gold numerous way. I often pay for things using my GoldMoney Prepaid MasterCard. Or you can send a free payment to another person on the platform. And very soon the new PayPal-like merchant services will be widely available.

    I was drawn initially to BitGold by the savings in gold feature but now really appreciate how easily the platform allows me to actually use my gold, when and where I want.

    And you can scale it up or down as your circumstances dictate. Not just for the rich, even $5 a month adds up, especially as gold enjoys a bull market.
  • UvasUvas Posts: 680 Silver ✭✭✭✭
    edited March 2016
    You can send amounts of gold directly from one account to another for no fee whatsoever. (excepting the USA right now, it should become part of the network by year's end.) I don't know how long these transactions take to clear as I live in USA. But I would imagine them to be nearly instant.

    You can also load up your prepaid debit card by selling some of your gold and spend it anywhere that accepts Mastercard.

    You can also link up a bank account and sell some gold and have it deposited directly to your bank account.

    Bitgold is an excellent way to protect your value from depreciating fiat currency.
  • rohanibuang61rohanibuang61 Posts: 2,379 Gold ✭✭✭✭✭
    Hi @401K_King Actually BitGold is better that BitCoin just because you hold physical gold in various vault location as shown in BitGold platform.
    Once you hold GoldMoney physical card from your BitGold account, you can spend anywhere as it is debit Mastercard. Same like bank account, where the account holder managed his/her own financial portfolio, this too apply to BitGold. Keep gold as your reserve and insurance and redeem gold to your GoldMoney card when time in need B)
  • JanJan Posts: 18 Tin ✭
    I am a bitcoin user too, I trade bitcoins to different currency but what I like about bitgold (gold) is that its value is rising and the fees in debit card are low, unlike bitcoins and its up and down value and high fee in loading the card.
    I have used bitgold debit card to fund my adword ads and other ads platform and I'm happy with it.
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