Bitcoin Forum

I've recently came across the site goldmoney.

Seems like a great idea to me, as it enables users to send literal gold to users all across the world.

However obviously there is a risk of chargebacks. Is there anyone that has enough experience with goldmoney that can tell me is there a vault that is more secure than others? Would it be safe to accept trades for goldmoney from anyone or should i only trade with reputable members? Please let me know.

Thanks

I remember using them back in 2015 but I'm not using them anymore, the service is indeed reversible so It's not really recommended to use it for trading unless you are dealing with trusted members and even If you do, don't expect 1:1 rates or something because It's not really that valuable. You may also wanna check the references of "Bitgold.com" (old name of goldmoney): https://bitcointalk.org/index.php?topic=1326821.0 as they were accused of scamming multiple times.

Goldmoney was earlier named bitgold and they are risky to use. They close accounts of users anytime (mostly those accounts that have fake/multiple referrals) and hence they cannot be trusted. Also, when you redeem gold, their fee is quite high. If you deal with reputed members as well, it cannot be guaranteed that your account would remain safe.

I am unhappy if something bad happened with you but honestly I have been using goldmoney since sometime now and I did not had any issues, but the price of goldmoney seems dropping a bit because when I deposited earlier like 10 dollars now it's around $7-8  ( last time when I checked ).

I really hope they don't scam users but I have seen a few user's scamming them too .. by making their own referrals.

The idea is great plus I have seen some users and they have easily withdrawn that gold to their credit card. But really I never suggest these sites because when we have tons of altcoins in market why the need of such things ?
Plus they are giving some money on referrals which always make me wonder if the site is legit or a probable scam of future.

Actually, they allowed to have referrals and if you have some referral gold and try to withdraw that money then most likely they will close the account. But if you buy gold from them using your card and store it OK. Also, remember don't simply buy gold from other members because they may close your account saying that whoever seller sent you gold is from fraud transaction and you will lose your gold and account as well. Totally is not safe to use do any transaction with other members.

When the site was new they were giving good sum of bitgold for referrals and many people miss used it and they even lost the account while withdrawing those gold. But to withdraw your money you need to provide all the identity documents and you can't buy gold from some unknown person and many conditions are in place, which makes it difficult to understand the system. But now they have reduced to very small amount for referrals.

- Yes i have few experience with goldmoney (bad one).
- I think you can do almost anything with canadian vault but their dubai vault is just crap.
- Yes it can be safe but there can be chargebacks so be careful.

One of the biggest downside they have is their hidden terms and condition which can lead to your account suspension. I have got my account suspended without any reason and that have some gold in it.

Goldmoney used to be bitgold and after some merger they have rebranded themselves as goldmoney. They are quite big company and real one that deals with virtual golds. They are just like paypal for gold but you can't find any merchant that accept goldmoney so you can't use your golds anywhere offline/online.

You have to either withdraw golds in form of bar or coin out of them or you have to sell those gold in p2p trading.

Nothing happened to me but it happened to a friend of mine. His referrals bought gold from the site using bitcoins and they closed his account soon after he accumulated enough gold to withdraw it. Now how can bitcoin be considered as an irreversible payment? He couldn't even be sure if his referrals had more than one account but in that case gold money should have closed his referral's account. This was why I was saying not to trust goldmoney.

whether it can be trusted by all, GoldMoney is risky to use because they close the account at any time.

even if you know the members well-known, and even then not guaranteed to be secure.

Would you share your bad experiences with goldmoney? I would love to know.

Also, which vault is the best? You stated Canadian vault but as far as I can tell there is no real difference between Canadian and the rest of the world's fault, aka Hong Kong, etc. except Dubai and Paypal vaults of course.

And why do people hate the Dubai vault so much? I understand that you can't transfer the gold out of the Dubai vault, but you can still freely withdraw that gold via the usual methdos like bank transfer right?

Are there any other users here who had their Goldmoney accounts closed after referring customers to them? If so, what reason did they provide when closing the accounts and did the pay all rightful earnings?

No more Goldmoney takers here?