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If you have researched your options for investing in precious metals, you have likely come across many company names – one of which is probably OneGold.
OneGold is a popular company among investors, but does it offer all it promises? Can you feel safe investing in precious metals with OneGold? In this One Gold review, we will break down all the facts and help you make sense of them to determine if you should pursue this precious metals company.
OneGold is an online platform that allows people to easily invest in precious metals. The site is available 24/7. You can pre-fund your account or make an outright purchase right away.
You can purchase gold and silver on the OneGold website and use the OneGold mobile app, which we will get into later. Before we can recommend any gold company, we want to thoroughly investigate every service, fee, and customer review to determine if this company is trustworthy.
OneGold was opened in 1999 by Scott Thomas and is headquartered in Oklahoma City. OneGold has partnered with two companies: Sprott and APMEX, with the shared goal of overhauling the traditional process of investing in precious metals.
APMEX, an industry leader, was founded by Scott Thomas in 1999, and Eric Sprott founded Sprott in 1981. By combining all three companies, OneGold sought to become a trusted name in the metals industry.
One of the first things we checked when researching for this OneGold review was to visit consumer rating sites like the BBB for verified reviews. On the Better Business Bureau, OneGold has an A rating with 3.8 stars out of 5.
We could not find a company profile for OneGold on Business Consumer Alliance, but they do have a profile on Trustpilot. Trustpilot has awarded the company with 3.9 stars out of 5.
In our research, we discovered many customer complaints, and some of them are concerning. Customers complain that OneGold is a scam. One customer said he recommended OneGold to all his family, and they were scammed out of their money as they tried to invest in precious metals.
We must provide the good and bad in this OneGold review. Giving you both sides helps with deciding when it comes time to invest in precious metals.
Pros
Cons
OneGold is not a scam, but we do have concerns after reading customer reviews. If you are interested in getting started in precious metals investments, you need to find the right precious metal custodian to handle your investments carefully.
OneGold offers a range of gold, silver, and platinum products, including those from the Royal Canadian Mint. They sell precious metals and provide vaulted storage for a storage fee.
This online marketplace offers information on the latest spot prices on precious metal options, so buyers know if they are getting the best deals.
As we continue with this OneGold review, you must understand the options available to you for precious metal investing.
When you buy gold, you are going to be charged fees by most companies. You will also be charged a storage fee. The following offers a breakdown of the fees OneGold charges its customers:
If you would like to invest in gold, silver, and platinum with OneGold, you will need to show a copy of your government-issued ID before you get started with digital assets. You do not necessarily have to live in the US to invest, but in some countries OneGold is prohibited:
When you purchase physical or vaultchain gold, you retain ownership, even if OneGold holds your assets in its vault storage.
You will need to monitor the spot prices of precious metals. When they go up, you can make a profit by selling your metals at any time.
You will need to take a few steps to get started with this alternative asset management company. The process of getting started is relatively easy. The steps are as follows:
You can rest assured your precious metals are safe in the company's secure vault. To ensure their global customer base feels confident, OneGold partners with third parties that conduct inventory audits.
These partners provide audit reports once a month. Customers will have access to reports from the UK, the US, Switzerland, and Canada.
You do not have to be a customer to view these reports because they are made public each month. The positive reviews state these audits are helpful.
OneGold is one of the few alternative asset management companies that offer a unique feature called AutoInvest. The auto-invest feature allows users to auto-invest in their chosen parameters.
This feature makes it easy to build a stockpile of precious metals for your future. You can set up your account to invest daily, weekly, monthly, or quarterly.
If you like to trade on the go, OneGold offers a mobile app. You can carry out the following functions with the app:
Many customers use the OneGold mobile app to help them easily trade precious metals.
Since most people have a smartphone, it helps to have an app that allows you to conduct business on the go.
The redemption process is where customers convert their digital precious metals to physical gold and silver. Depending on your preferences, you can redeem your assets via the website or mobile app.
You can exchange your holdings for physical medals with ease. Once redeemed, AMPEX will ship your physical redemption right to your door.
Those who do not want to convert it to cash can redeem it for physical metal. It is your choice.
The intrinsic value of gold makes it attractive to investors. Gold is a highly valuable precious metal that usually retains its worth, even during times of economic crises.
In fact, gold often rises higher in value during economic distress. People flock to gold when the stock market is falling.
Those struggling to grow a retirement account can take advantage of tax benefits that allow them to defer payments based on the type of IRA.
The following offers a brief guide to help you get started in precious metals investing with an IRA.
Setting up a gold IRA for precious metals investing may seem intimidating to new investors, but the process could not be simpler, especially if you work with a gold company like Goldco.
Because not all IRAs allow for precious metal investing, you will need to make sure you open a self-directed individual retirement account.
You need to be aware of the IRS rules that govern precious metal IRAs.
Although we have provided you with a lot of information on OneGold and even how you can get started investing in gold and silver, you may have other questions while reading this OneGold review.
The following are some of the top questions people ask about the company:
OneGold is a legit company and one of the industry leaders, but that does not mean they are the best option. Before starting a bank transfer for your account, you should conduct more research.
If you are looking for world-class solutions, you may want to keep looking. Consider this OneGold review and their lifetime sales before you continue.
The assets in your account are FDIC insured because they are held at Wells Fargo Bank. FDIC stands for Federal Deposit Insurance Corporation. The FDIC insures deposits, so they are protected against theft. With FDIC, even your purchases will be kept safe.
Never choose a company that is not FDIC insured, or your assets will not be fully insured. It is not worth the risk.
OneGold is not a good investment in the precious metals industry. If you are looking for a way to invest in vaultchain gold, silver, or platinum, OneGold may not be the best option. While their storage fees are fair, and they offer competitive gold prices, there are better options for a savvy investor.
You need to link your bank account to withdraw money from your OneGold account. Simply enter the amount of cash you want to withdraw from your assets, and then submit the withdrawal request. The transfer is usually completed within a business day.
Follow these steps to open a precious metals IRA account:
We have been as thorough as possible in this OneGold review. We believe you need all the facts before you commit to any precious metal dealer.
As you have read this OneGold review, you have likely started seeing red flags, just like we did. While OneGold does not appear to be a scam, we are concerned about some of their business practices after reading customer reviews.
After researching the company for this OneGold review, we have great concerns that will not allow us to recommend this company to our readers. We believe there are better companies out there that can provide the services you need for investing in precious metals.
The information provided in this website is intended solely for educational purposes and general informational use. It is not intended as, nor should it be considered, financial or investment advice. Investing in gold or any other financial asset carries inherent risks, and decisions regarding investments should not be made solely based on the information presented here.
We strongly recommend that you consult with a licensed and qualified financial advisor or investment professional before making any investment decisions. They can provide you with personalized guidance and take into account your individual financial situation and goals.
We do not assume any responsibility for the accuracy, completeness, or suitability of the information provided on this website for your specific circumstances. Any reliance you place on such information is strictly at your own risk.
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