Buying physical Gold to pay with and allowing members to invest in Revolut


#1

Adding Gold to the assets people can buy to pay in fiat currencies would be useful and more stable than cryptos.

Also, many people are interested in investing in Revolut because it provides ease of use and cuts the high costs traditionally charged by banks but there isn’t a way to do that, is there any plans to give members an option to invest?


#2

I agree with Thornabian. And it seems to me that the potential impending demise of FIAT means that holding Gold as a more viable payment system.


#3

Gold investment would be awesome :slight_smile:


#4

The only thing is you will not be holding physical gold with Revolut but a “promise of gold conversion” at any time.
The gold ownership makes only sense if you own your gold in physical form and therefore makes you independent from banking system. This is the whole purpose of gold - the guarantee of immunity from the instability of banking and financial sector and the incompetence of government. The hedge from inflation.
But I agree, why not trading it in Revolut app? Why not trading shares? How about P2P lending?


#5

My point is that GOLD will perhaps regain it’s status as the true currency; if you read anything of Alastair Mcleod you would perhaps agree. (I would assume that Revolut would hold Physical not Synthetics via, say PHPG. I mean – how much Gold do you hold in your portfolio anyway (I’m at about 12%- might as well put it to some use?).


#6

You would own the gold by constructive possession. Some competitors are doing it/looking into it.

What this would mean is you own the rights to the gold but it may be impractical to receive delivery of it e.g. you don’t own a oz/kg/100g worth to have it delivered. It might also be too expensive for delivery unless you pay a fee but that would be all T&Cs and how Revolut would like to do it.

You would still have ownership of the benefits of gold though but it would likely need a small fee to be commercially viable for Revolut, say 0.5%. Still beneficial for Revolut users too.


#7

My point is that GOLD will perhaps regain it’s status as the true currency; if you read anything of Alastair Mcleod you would perhaps agree. (I would assume that Revolut would hold Physical not Synthetics via, say PHPG. I mean – how much Gold do you hold in your portfolio anyway (I’m at about 12%- might as well put it to some use?).

(I’m already trading FX, commodities and indices :-)).


#8

But I do agree with you. If shtie hits fan gold bullion (or coins) is the only safe bet.

M J Hardwicke, Java Services Ltd.
+60 13 257 4388
+40 7540 159820


#9

Why did you post those phone numbers?


#10

He responded most likely by email. And that is his mail signature.


#11

In Error!

Mike Hardwicke
+60 13 257 4388
+44 7542-159820


#12

Agreed, adding gold and silver would be a great opportunity.