As of April 30, 2017, GoldMoney is no longer offering its “deposit bonus” promotion.
But you can read this article to find out how it used to work.
Here’s how to get up to a half a gram of free gold. This gold will be kept in a vault of your choosing by default. But it can also be sold for cash and transferred to your bank account, if you so wish.
This method of getting free gold is completely legal and ethical. But it does require you to jump through some hoops, as I’ll explain below.
Here are a few requirements you need to fulfill to be able to get this free gold:
- In order to get any free gold at all, you must have cash on hand equal to at least 0.1 grams of gold ($3.90 as of this writing). To get the full half a gram of free gold, you will need cash on hand equal to at least 10 grams ($389.70 as of this writing).
- You must be willing to tie up this cash and not use it for up to eight business days.
- You will lose 1% of this cash permanently. But of course, the gold you receive should be worth more than this. For example, a half gram is worth $19.49 as of this writing, almost five times as much as the $3.90 (1% of $389.70) it would cost you to get it. So it’s still “free”.
- There is a possibility of a further loss caused by fluctuations in the price of gold over a four business day period. In order for this loss to be greater than the gold you gain, the price of gold would have to fall by greater than 4% over a time period of three to four days. This hasn’t happened very often in the past, but it is a possibility. So you must accept that getting this gold is not completely risk free.
- You must have a U.S. or Canadian bank account that is capable of sending and receiving ACH transfers. Wire transfers will not work.
- In my experience, banks do not charge for ACH transfers. But if yours is weird, it might charge you some kind of fee to get your cash back.
- You must have a valid government ID that you can upload to prove that you’re not a fictional person.
- This method of getting free gold can only be used until April 30, 2017. It may still work after that point, or it may not.
If you can’t fulfill these requirements, you won’t be able to get the free gold. But if you can, read on to find out how to get up to a half a gram of gold free.
How To Get Up To A Half A Gram Of Gold For Free.
- Open a GoldMoney account. First, follow this link to get to the homepage of GoldMoney. Second, click on “Open a Free Personal Account”. Fill out the information to receive your account.
- Verify Your Account. Upload your driver’s license or whatever other proof of ID you have so that your account can be verified as belonging to a real person. GoldMoney explains how to do this here.
- Make Your First Deposit Within Seven Days of Opening The Account. Buy at least 0.1 grams of gold from GoldMoney using an ACH transfer or credit card at half a percent over spot and deposit it in your account. Do not use a wire transfer. You must do this within seven days of opening the account to receive your free gold.
- Receive your free gold. You’ll get 5% of whatever you deposit as a bonus. The more you deposit, the more free gold you’ll get – up to half a gram bonus gold maximum.
- Bask in the glory of having gotten free gold. Congratulate yourself on being richer than you were before. Ok, this is an optional step. But you should do it anyway.
- Redeem some of your deposit, or none at all. If you need the cash back that you used to buy the gold, sell the gold back to Goldmoney at half a percent under spot. Or keep it all in the account so that it can appreciate as the price of gold increases. Or sell some of it and keep some. You can even sell all of it, including the bonus, and then close out the account. But I wouldn’t recommend doing that. After all, if you’ve got close to $400 sitting around that you’re willing to tie up for a week or two, you probably need some gold anyway so that you don’t have to hang on to depreciating dollars. So you may as well at least keep the free bonus gold in the account. Either way, it’s up to you.
- (Optional) Make more deposits and watch your wealth grow. If you follow these steps, you’ll have your first deposit of gold in an allocated holding account (assuming you didn’t sell it all). If you want this to be the first step to consistently growing your wealth, the next thing to do is to make a habit of saving a certain percentage of your paycheck every week. The more you save, the more purchasing power you’ll have in the future if (as I have argued that it will) gold becomes more valuable relative to other goods. Personally, I always save 5% of my income. But 10% would be better. And even 1% would be good if the alternative is to spend it all.
- (Optional) Read This Blog And Learn to Trade Gold. If you really want to grow your wealth, you can keep reading this blog and learning how to trade gold. This will (hopefully) allow you to take advantage of temporary downturns in the price of gold by selling part of your holding and buying it back later at a lower price. As a result, your gold should accumulate faster than it would otherwise.
For a complete explanation of the terms of this offer, click here.
I am not associated with GoldMoney and I cannot be held liable if this does not work. I’m simply repeating what they say on their website and what has worked for many of their customers in the past. If you have any problems getting your free bonus gold, GoldMoney can be contacted here.
I hope you found this explanation of how to get free gold informative and useful. If you know others who may want to take advantage of this opportunity, please share this page with them.
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