Community

Fintechs and physical gold? They're compatible, especially now

Kostas Noreikia

November 2020 • 2 min read

Paysera gold

Paysera has recently started selling gold via its app. Not the kind of gold that is sold on the exchange markets, but actual physical gold, which can be weighed, measured, lifted up, inspected, turned over, or given as a gift.

Personally, I hold the notion that gold, silver, and platinum are real money. Meanwhile, what we frequently refer to as money – euro, dollar, yuan – are only currencies, the so-called fiat money that is labelled “money” by governments and central banks. As J.P. Morgan once famously said: “Gold is money, everything else is credit.”

Is it a good time to start trading physical gold? To answer briefly, it is always a good time for gold. To give a more detailed answer – gold retains its value in turbulent times, and it is easy to store and sell it. We make it possible for buyers to sell back the gold purchased from us. The gold may also be sold elsewhere – there are stores and pawnshops in every country that will buy physical gold after you pick it up from us or other sellers.

A common notion held by many is that gold is an investment. I consider gold to be a means of preserving purchasing power in the future rather than an investment, and therefore bars and coins sold via the Paysera mobile app are not intended for speculation. There are plenty of investment platforms where speculation and earning (or losing) money is possible due to short-term price fluctuations. You may choose to trade there to make a quick profit/loss. Due to this, we did not include an automatic gold buying-selling feature that reacts to such price fluctuations.

Is it a good time to start trading physical gold? To answer briefly, it is always a good time for gold.

Finally, I anticipate another commonly asked question – “Is it a good time to buy physical gold?” I will leave the question open. It is a personal decision, which depends on various individual circumstances. However, I would like to encourage you to take interest in the topic, to read around and research it and find the best way for you to preserve the purchasing power of your money. It is also a good idea to seek advice from independent financial experts. Some people say that it is always a good time to buy gold in order to store one's wealth and preserve purchasing power.

If you made up your mind or want to find out more about the topic, we have described the buying process and various nuances in a more detailed text in the Paysera blog. But just the fact that you read this text is already a good start for your research.

#
AUTHOR:

Kostas Noreika
Founder and shareholder of "Paysera LT"

Related articles #
#

November 2020 • 2 min read

A brief history of Lithuanian fintechs

To mark Paysera’s 16th birthday, the company’s CEO Vytenis Morkūnas reviews the short yet rich history of fintechs in Lithuania. From the very first payment cards to the first attempts to trade physical gold online – all of it fits into a period spanning no more than 30 years.

Read more
#

October 2020 •  4 min read

Gold purity, fineness, and karat – what is it and how to check it?

What do numbers describing gold purity mean? What is the difference between karats and fineness? Can you find 100 per cent gold? And how do you check the fineness of gold?

Read more
#

September 2020 • 5 min read

Go for GOLD! Buy gold online via Paysera

Gold trading has been circulating in the news for the last few months now. Its price increases daily and its sales go up due to fears of an economic crisis. That’s why we are even happier to introduce to all our clients the ability to buy gold online.

Read more

ABOUT

Paysera is an international electronic money institution licensed by the Bank of Lithuania. It offers its clients a spectrum of services from personal and business accounts to a mobile application, a debit card, and payment processing for e-shops.
Read more.