selling gold

I thought I had bought God In a market place ! However BitGold appears to be a Gold "free repository and spending (credit) card... In order to have real "Gold Money" it is necessary to SELL GOLD as well as, buy and redeem gold.

My BIG question to you does BitGold/Money plan to have a actual Marketplace where I can "buy and sell" ? or will you remain redeem, store and trade (visa, mastercard) etc ?

Either way I will continue to use Bit G, However I need to be able to sell during the highs in this bear Gold Market and recoup on the lows !

Comments

  • UvasUvas Posts: 669 Silver ✭✭✭✭
    edited December 2015
    You sell the gold in your account every time you place value onto your debit card. You also sell your gold every time you make a direct deposit or wire transfer to your bank account. You can sell at any time you wish.

    You can also buy gold at anytime you wish.

    So, if you feel that the price of gold is low right now, simply buy some gold with your local currency from your bank account or credit card. Then when the price goes up, sell the gold and receive the increased amount of your local currency.

    So this indeed a place where you can buy and sell gold at an extremely atractive markup of only 1%.

    Hope this helps.
  • GoldfingerGoldfinger Posts: 128 Copper ✭✭
    The Gold Money site will allow to actually trade PMs. The BitGold site is better for saving and spending gold. Check out GoldMoney
  • ljrichaljricha Posts: 8 Tin ✭
    As @Uvas beautifully explained how to buy and sell gold using the tools BitGold provides, I would like to use those deposits to pay for things. Does anyone know names of businesses/merchants that accepts our debit cards?

    Something else to keep in mind. ;) Taxes!
  • GrandpaBrianGrandpaBrian Posts: 679 Silver ✭✭✭✭
    Any merchant that accepts Mastercard should accept your GoldMoney MasterCard.
  • ljrichaljricha Posts: 8 Tin ✭
    Thanks @GranpaBrian! Duh! That makes sense. :) Also, thanks for you BitGoldFiles address. I downloaded, for free, BitGold Basics. I believe this will be very informative and forward looking. Thanks again, @ljricha
  • KimKim Posts: 636 Bronze ✭✭✭
    @Goldfinger, thanks. I have not yet studied the Gold Money offerings yet. Your post was a reminder for me to do so. Heading over there now to educate myself.
  • rohanibuang61rohanibuang61 Posts: 2,379 Gold ✭✭✭✭✭
    Hi @wayne , I will buy more gold when the price going south and will deposit into GoldMoney card more when gold price heading North just like Economics fundamental concept of demand and supply.
  • Akeim47Akeim47 Posts: 2 Tin ✭
    Hi ,
    I'm new to goldmoney and I don't kno how it works !? How can i buy and sell gold ? Please help
  • TomSwiftTomSwift Posts: 42 Copper ✭✭
    Akeim47, if you click on Support Center at the top of the page you will find all the information you need.
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