GM Card as an investment engine ...

What happen ?
If the gold price go up and i take the all my account to my goldmoney card
and when the gold is less i buy igen...

(sorry my english)

Best Answers

  • AnacapAnacap Copper ✭✭ Posts: 91 Copper ✭✭
    edited February 2017 Accepted Answer
    It's a prepaid card, when you charge it, you liquidate your gold wealth to the currency you've choosen, as soon as you charge it, you don't hold that gold, but USD, EUR or wathever, then you can buy again as you want. 0.5% sell + 0.5% buy fees and a bit around because best bids, if you want to short bet on gold, you need to make over those fees.
  • 79Au19779Au197 Gold ✭✭✭✭✭ Posts: 4,047 Gold ✭✭✭✭✭
    Accepted Answer
    @Ricinus

    As I understand it you want to be able to "trade" between your Goldmoney MasterCard and your Goldmoney account, moving gold to currency when gold is high and moving currency to gold when gold pulls back. This is possible and works in either direction. However fees, daily limits, and BBO spread may make it difficult to actually make any money doing this.

    Please review

    http://support.goldmoney.com/customer/en/portal/articles/2069452-goldmoney-mastercard-limits-fees
    http://support.goldmoney.com/customer/en/portal/articles/1871471-the-goldmoney-network-and-gold-pricing

    Good luck B)

Answers

  • RicinusRicinus Tin ✭ Posts: 6 Tin ✭
    Thanks for the answer
    But can I win it if I doit ?
  • GMONEY1GMONEY1 Silver ✭✭✭✭ Posts: 426 Silver ✭✭✭✭
    I'd also add that the platform has a handy feature where you can change your unit of measure to GRAMS instead of dollars, EUR, etc. That helps to establish the mindset (and solidify the philosophy) behind Goldmoney. At the end of the day, you will have a weight of gold in your name... a weight that increases when you buy more; all the while, preserving purchasing power ...in the long run.
  • GoldmattersGoldmatters Admin Posts: 4,027 Admin
  • ike11ikeike11ike Bronze ✭✭✭ Posts: 164 Bronze ✭✭✭
    GMONEY1 said:

    I'd also add that the platform has a handy feature where you can change your unit of measure to GRAMS instead of dollars, EUR, etc. That helps to establish the mindset (and solidify the philosophy) behind Goldmoney. At the end of the day, you will have a weight of gold in your name... a weight that increases when you buy more; all the while, preserving purchasing power ...in the long run.

    @Ricinus The best way to use the platform is how @GMONEY1 states above.
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