How to Buy Gold with Steem

in #goldmoney8 years ago

How to Buy Gold with Steem.

Let's buy some gold with our Steem!

In my original post I announced that we could now all buy gold with Steem. I had no idea I would get such a positive response! https://steemit.com/goldmoney/@goldmatters/turn-steem-into-gold

For more on Goldmoney you can check out my article here: https://steemit.com/goldmoney/@goldmatters/why-goldmoney-will-change-the-world

There was a demand for a more detailed explanation of the process. So Steemians.... here we go :)

Sign up for Goldmoney here: http://Goldmoney.com/r/6lfQRK

Once you have a Goldmoney account, in the main dashboard click "deposit."

Then "additional options"

then "cryptocurrencies"

after reading IMPORTANT MESSAGE

then click "next" (this will select the Dubai vault)

Pick STEEM from the drop down

and choose an amount to send
Enter return address.

(I used steemit, but this is not necessarily a recommendation.... make sure whichever word you use, you start it with a lowercase letter or it will not work) and click "process"

Go to your steemit wallet and click on "transfer" next to STEEM then enter "shapeshiftio" where it says "To". Then enter the SAME amount you entered for your Goldmoney deposit .

Back in your Goldmoney page, copy everything after "memo:" in the line below (it should start with the word "shapeshift"

Back to your steemit transfer, paste in "memo" and hit "submit"

Authenticate
You should see a notification in your Goldmoney account near the bell

and a pending purchase in your "recent activity"

This may last awhile until the gold is verified for you. Check Goldmoney.com/r/6lfQRK help section for pending time estimation.

Congrats. You turned your STEEM, into gold.

Stay tuned for more Goldmoney updates. Post coming soon on how you can get your employer to pay you in gold!!!

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I've had a Goldmoney account for years, I think since 2007 or something. Nice to see the company evolve like this

Thats great!!! I hope you like the new benefits and features

Wow, really, I got 3+ dollars by you upvoting my comment?!

Congrats! Here have another :)

Hilarious :)) thanks

:)

This post was a way to open my mind to new levels of how to use cryptocurrencies. Thank you very much and following you for further info. Cheers.

Thanks for checking out my post:)

I was actually looking at this very thing on the goldmoney website 2 days ago. Thanks for the nice tutorial so when I do want to use it, I will know how.

Thanks for reading:)

I have a question. I did notice that the minimum to buy was .6 grams or so. Do you know if there are any plans to lower that in the near future? Just curious.

Good question! I don't know but as far as I know that's close to the smallest amount of gold someone can buy that I am aware of. Thanks for the question!

Actually, it appears the option to using steem has been removed from the goldmoney site, just within the past week. Its not an option now.

Nice. I will start using 10% of Steem rewards to buy more cheap gold. More eggs in the basket for the win. :)

I had no idea you could do this and I have a goldmoney account!

Steem was just added , its brand new :)

the reason for the return address is so they can return your money if something goes wrong with the transfer, they use shapeshift.io integration, so if something goes wrong your refunded money would get sent to the steemit account

Thank you. I appreciate this information

Were you able to complete your deposit this time?

I don't like their web site because it did not work the first time when i tried to use craig-grant as my return address for steem, and they did not have a problem accepting my ethereum wallet address if I choose to send ether, so no, I did not deposit, and probably will not until they accept craig-grant as the return address. I do have some gold bars in a safety deposit box at the bank, so it's not about me getting the gold, it's about me using steem to get the gold while using craig-grant as the return address

Can you physically pick the gold up in Dubai as well? @craig-grant? Do you think it makes more sense to buy using a Bitpay card that way its in fiat and there are 0 restrictions for vault location? - What is your experience overall with them so far?

we really need to have a drone delivery system for drones so noone can steal the gold (unless someone hacks the drone to fly the gold somewhere else) maybe we should use carrier pigeons....)

But imagine a local gold store chain that accepted bitcoin for gold and silver coins and bullion! we should use gold backed crypto currency like wit Bitshares peggged tokens....

But I think we could open a gold an silver store that let you buy or sell gold for bitcoin or bitcoin for gold (or dollars) an we could have everthing! we can buya nd sell gold dollars bitcoin diamonds, and allow peopel to ttrade them all liek an exchange! We will let people take posession of teir physical gold from any our franchises we setup invery cityin the world!

We let steemit users signup to run a franchise! They buy the gold an silver and bitcoin and we do marketing and when anyone wants to buy or sell bitcoin for gold or gold for bitcoin, OR if you want someone to keep your gold or bitcoiin safe we can act like a bank and we can use bitcoin as a way to settle debts between our franchises, so that if one franchise needs some more bitcoin to give to someone whose giving them gold, we have another franchise or mainoffic esne dthem the bitcoin they need for that trade! And of rhey ned more gold to give to someone for thir bitcoins , we just send them bitcoin so they can go buy up cheap gold off ccragslist and local sellers!

we attract people with low rates and the ability to buy gold or sell it directly with bitcooin! dude check out my recent post about gold plated DVDs for storing bitcooinalets lol i already sent u the link but yeah its acttually relevant to this convo! (sorry for my keybaord a couple keys are broken ) https://steemit.com/bitcoin/@ackza/we-should-store-bitcoin-and-crypto-currency-wallet-private-key-data-on-emp-proof-24k-gold-kodak-dvdrs-that-can-last-for-over-10 I think u will like this idea! its EMP proof! gold plated dvds are what the smithsonian use to archive old movies and images etc

This is a very interesting idea. I need to dive back into BTS. It has been a while.

I tried to use goldmoney, cause I was interested in promoting it, but after experiencing their web site, I quit cause it felt shady, with all that money they can do better for user experience, and that made me think they don't have all that money, or it's being mismanaged, can't trust human beings, blockchain technology FTW

Wow intereting.