BitGold Now Available in US! Why BitGold?

June 26, 2015

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Courtesy of Mish.

BitGold USA

Effective today, BitGold Announces Platform Launch in the United States.

BitGold, a platform for savings and payments in gold, is pleased to announce the launch of the BitGold platform for residents of the US and US territories. As of today, US residents can sign up on the BitGold platform and buy, sell, or redeem gold using BitGold’s Aurum payment and settlement technology. US residents will also have access to the BitGold mobile app and a prepaid card when these features launch over the coming weeks. Send and receive gold payment features are not initially available in the US.

About BitGold

BitGold’s mission is to make gold accessible and useful in secure savings. The BitGold platform provides innovative solutions to the challenge of transacting with fully allocated and securely vaulted gold. BitGold accounts are free and convenient to open by anyone, anywhere* in just minutes. BitGold provides users with a secure vault account to purchase gold using a variety of electronic payment methods. All physical gold acquired through the platform is owned by the customer, stored in vaults administered by The Brink’s Company, acting through Brink’s Global Vault Services International, Inc. (“Brink’s”), which insures gold through third party insurance providers.

First Ever Debit Card Backed by Gold in Real Time

I explain below what the buyout of GoldMoney by BitGold means, but first let's start with a look at details of the announcement of the first ever debit card backed by gold in real time.

First Transactional Gold Account – Gold can be used in payments in addition to savings.
First Gold Merchant Platform – Process Credit/Debit Cards and earn gold!
First "Real" Gold Card
BitGold is an online bank account that is backed by gold as opposed to currency
Gold can be redeemed in as little as 10 gram increments (approximately $370 at today's price)
Publicly Traded, Audited by PwC, Insured, Backed by Strong Investors

Unlike other cards that sell gold at a premium then issue a debit card, BitGold is a gold-based settlement system in real time. It is also the first gold-based card of any kind available in the US.