Why you should turn some of your Steem into gold
Why you should turn some of your Steem into gold
Lets begin with a clarification.
I heart Steem.
I heart Steemit.
Steemit given me a wonderful platform to wax on about the topic that is most important to me.
It has also allowed me to learn about many other topics and expanded my intellectual range.
I've read so many different stories and people I never would have been exposed to otherwise.
The objective in this post is not to present an alternative to owning Steem and Steem Power, but something that will help complement and round out a Steemians portfolio.
So far I've:
Announced that it is possible to turn Steem into gold: https://steemit.com/goldmoney/@goldmatters/turn-steem-into-gold
Explained how to do so: https://steemit.com/goldmoney/@goldmatters/how-to-buy-gold-with-steem
Today's post is about WHY.
I own a nice chunk of Steem Power, but I plan on accumulating much much more because I believe in the long term viability of this platform and want to participate in its growth.
Concurrently, I believe it is important to create diversity in a portfolio. This can include crypto, stocks, cash.... and even gold.
I can't possibly explain how gold works the best as a savings vehicle over the course over a lifetime better than Josh Crumb ( Co founder of Goldmoney) does here: https://www.goldmoney.com/newsroom/news-and-blog/goldmoney-insights-savingstech-back-to-the-future-edition
In summary the article explains how the price of a Big Mac, when priced in grams of gold, over course of 30 years has not changed. This is in stark contrast to USD, in which the price of a Big Mac has quadrupled.
It is important to stress that for a number of reasons in the short term gold (like Steem) can be volatile. That is why it should not be treated as an investment, trade, or speculation but instead as money itself.
Think of gold as SAVINGS. Again, not an investment, not speculation, not a trade, but savings. This is a great explanation of how Gold Always Wins (courtesy of Goldmoney.com. http://goldmoney.com/r/6lfQRK
Authors here on Steemit get paid out for posting. Most compensation must be treated as working capital to live off of.
Most of us though, try to save some of our income. We do this for retirement, emergencies, rainy days, and future Big Macs.
History has proven that saving some of your stored labor (money) in gold just WORKS over time.
With Goldmoney, there is finally a way to do this efficiently, in small amounts, while gaining utility with your gold.
Goldmoney is not a cryptocurrency. Goldmoney is actual ownership of allocated, insured, audited, fully redeemable physical gold in a Brinks vault of your choosing.
Goldmoney is different than anything of its kind because you can actually spend your gold using this nifty prepaid MasterCard (get a free one here: http://Goldmoney.com/r/6lfQRK )
Giving utility and democratizing gold is a core mission of Goldmoney. In the past you would need to be rich to buy enough gold to save. Now you can buy as little as 4c worth of gold at a time.
One of my favorite features of the Goldmoney platform is the recurring deposit feature. Anyone can set this to deposit a set amount of gold into their account automatically, any amount, any frequency. (Setting this concurrent to your paycheck would be ideal.)
Steemians already know all about the benefits of crypto and the exciting prospects of Steem and Bitcoin. Lets balance ourselves out now by diversifying a little, crystallizing some of our earnings into the most stable form of money and savings (over time).... GOLD!
Just think of all the Big Macs you will able to buy.
^ not a Big Mac!
If you know want to know why Goldmoney will change the world : https://steemit.com/goldmoney/@goldmatters/why-goldmoney-will-change-the-world
If you are Jose Canseco and reading this I know you would love to create a personal gold standard with a Goldmoney account! DM me for details Jose! https://steemit.com/story/@goldmatters/jose-canseco-followed-me
If you are Steph Curry and reading this: https://steemit.com/goldmoney/@goldmatters/my-quest-to-get-steph-curry-to-follow-me-on-twitter
For a free Goldmoney Mastercard you can load from your Goldmoney account start here: http://Goldmoney.com/r/6lfQRK
I opened a Goldmoney account about five months ago and have been adding nearly every week. Each time there is negative news in the world I add. I am very happy with the platform and love that you can store in different locations as well as in a different currency than the US. I live in Asia and the card gives me extra security when traveling since its prepaid and backed in gold. I got my father to add funds and continue to recommend to others. I first obtained physical so dont avoid getting physical, GM is juat another option to diversify.
Yes! Thank you for this review!! Www.goldmoney.com
I have a Goldmoney account. A friend recommended it to me and it sounded great, so I joined.
One concern I have since opening the account is...I am on a budget and started to put small amounts into it (which is one good thing about the account you can do small amounts to build up). Then I heard about the Goldmoney card which you can transfer your gold balance to spend as you would a debit card. It would be like a prepaid card.
But then came a hurdle for me that I didn't know beforehand. You have to verify your account before you can withdraw and for that you need a photo id. I had bought a passport some years ago and never used it, it expired and would cost a lot of money to me to replace it (a lot more than I have put into the account so far) plus all the hassle involved, paperwork and getting that authorised. I do not drive and where I am from picture id is not standard to my generation at least and any it seems you have to pay for and get it authorised.
So now I can't get my money out without spending a whole lot of money to get the picture id to get the account verified to withdraw and/or apply for a goldmoney card. I could maybe transfer my balance to the friend that recommended me to it (not sure if you need to be verified for that) but I was hoping to use the account.
So for now I have stopped adding to it and see what may change to the process to make it easier for me.
Any thoughts on that?
Thank you for your post
This is something everyone needs to be aware of, but Goldmoney is a awesome company with some very nice features...
I bought a pizza last night with my Goldmoney card :)
Sorry you don't have one yet @digit but we'll get it sorted...
Awesome. Thank you for this fine example!!
Hello @digit ! Thank you for your response and question. I looked into your issue and there IS a solution. It is a bit detailed though so you will have to contact support directly for this : https://support.goldmoney.com/customer/portal/emails/new Please follow up and let me know how this turns out !
thank you for your response, I have followed the link and sent my details, awaiting reply. Thanks again, will feedback
Not to be demonstrate, but "Real World" - Support "SUCKS"!. I appreciate your enthusiasm for this platform, and 'hawking' Goldmoney, but they are so 'exclusive' vs. 'inclusive' .... Honestly, it has cost me more time & effort than I would get 'monetized' for in a year. The whole "Know Your Customer" aspect of their platform & ID support feature is "Frustrating & Annoying". A complete waste of time.
I appreciate your feedback, thank you for your comments. I agree there is always room for improvement with any new service. I will pass your comments on to customer service.
You've made some excellent points here, thank you for sharing.
Until now I was unaware of Goldmoney entirely, although it made me think of Xaurum, which seems similar in some ways.
Thank you for reading :) I'm happy to answer what questions I can, and if I cant I can try and point you in the right direction!
Cool - I'll keep that in mind. I plan on a very lucrative 2017, precious metals are definitely invited to the party!
I also have a goldmoney account. It is easy to use. Just got my goldmoney card and can't wait to use for the first time. Still new to everything and enjoyed this :)
Thank you for your comment! :)
At the time of this comment post is 17 hours old, value is 72.63, it has captured 120 votes, 90 views and 12 comments. Extremely nice job! Happy New year
Thank you so much! Happy new year to you also!!
Super post mate verey informative
Thank you! Trying to spread the word as much as possible!
Could you imagine the world going back to recognizing the importance of hard money while accepting block chain technology at the same time en masse? I can see it..."How would you like to pay?"; "BitCoin that I bought with my Steem Dollars please" and then walks home to throw another gold coin into the safe. That would be an awesome day.
That day is today :)
Investing in gold is always a safe choice, but swapping your steem right now, right before the official company road map is released, is bad investment advice.
This is a good post because gold is a safe investment (as safe as they get due to historical value), but I think that the profits you make on trading steem should be invested into Gold rather than throwing away a commodity that is set to spike.
PS: I skim-read the post, so if you covered this and I didn't see it, apologies.
Thank you for your opinion:) I can't wait to see the road map as well