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As an investor exploring precious metals, you might question, "Is OneGold legit?" OneGold, supported by APMEX and Sprott's combined expertise, offers a credible and secure investment platform established in 2018.
With a user-friendly mobile app and website, OneGold provides easy access to managing your investments anytime, ensuring a trustworthy and convenient experience.
What is OneGold?
OneGold is a revolutionary platform that enables you to have direct ownership of vaulted gold, silver, and platinum at an ultra-low cost.
With a user-friendly interface and 24/7 access, it provides you with the peace of mind that comes from dealing with industry leaders.
The company was founded in 2018 by two industry giants, APMEX and Sprott, with the goal of creating a modern, cost-effective, and secure means of precious metals ownership.
OneGold has clients in the United States, Switzerland, Canada, and the United Kingdom.
Kenneth Lewis: CEO
At the helm of OneGold is Kenneth Lewis, a highly experienced and results-driven professional with over 20 years of leadership experience across retail and technology organizations, many of which rank in the Fortune 500.
Before joining OneGold as Chief Executive Officer, Mr. Lewis held positions at APMEX as EVP of Operations and later as Chief Operating Officer.
He attributes his success to his deep commitment to providing exceptional customer service and nurturing employee development.
OneGold was launched following the vision of its founding fathers, Scott Thomas of APMEX and Eric Sprott of Sprott.
With over 50 years of combined experience in the precious metals industry, they understood the need for a more convenient method for investing in gold, silver, and platinum.
The founding of OneGold in Oklahoma City marked the beginning of a new era in precious metals investment.
Today, OneGold boasts more than 3,000,000 ounces under management, and clients can benefit from the company's relationship with reputable vaulting resources like Loomis, Royal Canadian Mint, and Lloyd’s of London.
This ensures an optimal investing experience for both new and seasoned investors.
Embracing a whimsical style while providing concise, relevant, and authoritative information, OneGold caters to digital-savvy investors and those new to precious metals investing.
The platform represents a cutting-edge approach to investing in gold, silver, and platinum, making it a standout choice in today's market.
OneGold Reviews, Rating & Complaints
OneGold, a precious metal investment platform, has received reviews and ratings from several sources.
Let's take a look at their ratings and reviews from various platforms to give you a clearer understanding of their performance.
1. Better Business Bureau (BBB)
BBB's A+ rating indicates that OneGold has received generally positive feedback from customers.
However, with a 3.31/5 rating, some users may have had less than satisfactory experiences.
The single complaint in the last 3 years seems to be resolved, demonstrating their commitment to addressing customer concerns.
2. Shopper Approved
Shopper Approved showcases a strong 4.8/5 rating for OneGold, with a large number of customer reviews indicating favorable experiences with the platform.
3. Trustpilot
A decent 4/5 rating on Trustpilot reveals that customers generally find OneGold reliable and user-friendly.
4. Google Reviews
Google Reviews highlights a high 4.7-star rating, indicating that OneGold has left a positive impression on many customers.
From the data gathered above, it's evident that OneGold has received predominantly positive feedback across various platforms.
However, it's important to consider both positive and negative reviews to make an informed decision about investing with OneGold.
Remember to always do your research and weigh the pros and cons before making any investment decisions.
Why Do Their Clients Love OneGold?
OneGold has established itself as a popular choice among precious metals investors by providing a user-friendly and secure platform.
Customers particularly appreciate the simple yet powerful features that OneGold offers.
Let's explore some of the reasons why their clients are so fond of OneGold!
These reasons, along with many enthusiastic customer reviews, contribute to OneGold's strong reputation among precious metal investors.
Their platform addresses various needs and remains committed to simplifying gold and silver investments while prioritizing security and convenience.
Pros & Cons of OneGold
In this section, we are focusing on the advantages and disadvantages of investing in OneGold.
Pros:
Cons:
Despite the numerous benefits, there are a few potential drawbacks to consider:
OneGold's Products and Services
OneGold offers a variety of services tailored to your investment needs in the precious metals market.
In this section, we will explore the range of products and services provided by OneGold, including the process of buying and selling precious metals, vaulting and storage options, and how to incorporate precious metals in your IRA or investment portfolio.
Buying and Selling Precious Metals
OneGold provides an intuitive platform for buying and selling precious metals like gold, silver, and platinum.
You can browse and purchase products from the US, as well as international options from Switzerland, Canada, and the UK.
After creating your OneGold account and funding it, you have the option to explore a diverse range of precious metals products, available 24/7.
OneGold ensures a smooth and streamlined buying experience for its users.
Vaulting and Storage Options
With OneGold, your precious metals are securely stored in multiple professional vaults with third-party audits and insurance by Lloyd's.
These vaults are located in various countries, including the US, Switzerland, Canada, and other territories, providing diversified storage solutions.
Rest assured that your investment assets will be handled with utmost care, reducing any security risks associated with holding physical metals.
IRA and Investment Portfolio
OneGold allows you to diversify your IRA or investment portfolio by incorporating precious metals into your holdings.
With a preferred list of IRA custodians, including New Direction Trust Company, STRATA Trust Company, Preferred Trust, and RocketDollar, you can trust that your precious metals IRA will be well managed and overseen by industry professionals.
OneGold Mobile App
The OneGold Mobile App offers a user-friendly experience, making it easy for you to manage your precious metal investments.
The app provides 24/7 trading options, allowing you to buy and sell metals at your convenience.
No need to worry about market hours when using the app, as it is designed to offer real-time tracking of silver and gold prices, as well as powerful portfolio management tools to help you make informed decisions.
In addition to the convenience of trading any time, the OneGold Mobile App enables you to set custom alerts.
These alerts notify you when metal prices reach a desired threshold, enabling you to take advantage of timely investment opportunities even outside of regular market hours.
With features like these, the OneGold app is a valuable companion for anyone looking to invest in precious metals and keep their investments on track.
OneGold Fees
In this section, you will find a comprehensive breakdown of the various fees associated with using OneGold.
This information will help you understand the costs of investing in precious metals through this platform and allow you to make informed decisions.
Storage Fees
OneGold offers very competitive storage fees for your precious metal investments.
For instance, gold storage is calculated at a rate of 0.12% per annum, while silver storage charges are 0.30% per annum.
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These fees are based on the value of your holdings and the type of metal you store. One key advantage is that the minimum storage fee is as low as $5 per year.
In comparison with other platforms, this pricing structure allows you to save up to 83% of your storage costs each year.
Transaction Premiums
When you buy or sell precious metals on the OneGold platform, a certain percentage of the transaction amount is added as a premium.
This premium covers the costs of operations and helps maintain the platform's efficiency.
While these percentage-based premiums may seem high, they are not as exaggerated as those of other platforms, ensuring a fair trading experience.
Withdrawal and Selling Fees
Lastly, it is important to consider the fees associated with withdrawing or selling your precious metals on OneGold.
These fees may vary depending on the process – whether it's settling your digital holdings or requesting physical delivery of your precious metals.
However, OneGold has been known to provide a cost-effective option compared to some competitors, which proves advantageous when planning withdrawals or sales.
Take an Advantage of Using the Bullion Card!
The Bullion Card presents a unique opportunity for those interested in growing their precious metals portfolio.
By making everyday purchases with this credit card, you can earn rewards that can be redeemed as investments in gold, silver, or platinum, effectively allowing you to invest as you spend.
When you use the Bullion Card for your daily expenses, such as buying groceries or paying bills, you can earn rewards points that contribute to your OneGold investment account.
For every dollar spent on OneGold, you earn 4 points. Meanwhile, all other purchases grant you 1 point per dollar spent.
The card also extends a bonus of 15,000 points (equivalent to a $150 value) when you spend $1,500 within the first 90 days of opening an account.
There are several attractive features associated with the Bullion Card, including no annual fee, 0% APR on purchases for 12 months, and points that never expire as long as you stay active.
Furthermore, your precious metals portfolio can grow effortlessly as you use the card for everyday purchases.
Additionally, you can benefit from premium Visa Signature privileges if your credit line is $5,000 or higher.
These benefits encompass a wide range of services, such as travel accident insurance, lost luggage reimbursem*nt, roadside assistance, auto rental damage waiver, purchase security, trip cancellation and interruption insurance, and extended warranty coverage.
The Bullion Card offers a seamless way to diversify your investments while going about your daily life.
By using this innovative credit card, you can tap into the potential of precious metals investing and watch your portfolio grow as you continue to spend on routine expenses.
OneGold's Security Measures
In this section, we'll discuss the security measures taken by OneGold to ensure the safety of their customers' investments in the form of both physical and digital assets.
We will cover their storage and vault security as well as the protection they provide for digital assets.
Storage and Vault Security
OneGold utilizes top-tier vault facilities that hold a high level of security to store your physical investment.
These vaults are insured by Lloyd's of London, a prestigious insurance provider known for its special-risk policies.
The security of the storage facilities minimizes risk associated with theft or other threats to your precious metals.
These vaults also feature state-of-the-art security systems, surveillance, and monitoring to ensure the safety of your investments at all times.
In short, when you invest in precious metals through OneGold, you can rest assured that the physical security of your assets is of utmost priority.
Digital Asset Protection
When it comes to protecting your digital investments, OneGold employs robust security measures to safeguard your account and financial information.
This includes the use of strong encryption, secure authentication processes, and reliance on established third-party providers like Plaid and Wells Fargo to handle sensitive transactions.
OneGold also utilizes advanced cybersecurity practices to regularly test their information systems and ensure the highest level of protection against potential threats from hackers or unauthorized access.
In addition to these cyber-defense measures, OneGold's mobile app offers custom alerts and 24/7 trading, so you can manage and secure your portfolio with ease.
What is Their Physical Redemption?
OneGold offers a convenient way to take possession of physical precious metals through their redemption process.
This process is backed by the combined expertise and security of APMEX and OneGold, ensuring a seamless and safe experience for investors.
When you purchase precious metal products from OneGold, you own the physical metal that is held at a secure location of your choice.
While you have direct ownership, the actual product may be in the form of fractional shares of larger bars like kilo bars or London Good Delivery Bars.
Since these types of products are not suitable for physical delivery, OneGold facilitates redemption through APMEX.
To redeem your vaulted gold, silver, or platinum for physical delivery, you simply convert your holdings at the current market rate, and the resulting cash balance is applied to your redeem order.
When selling, you will receive the current bid price minus 0.30%. Redeemed orders are usually shipped within one business day and come with free shipping to U.S. addresses. International orders might require shipping fees.
Please note that if your account is funded via credit/debit card, PayPal, or ACH, the funds need to be on your OneGold account for 60 days before they can be used for redemption.
You can withdraw these funds at any time, provided that they are sent to the originating account.
To avoid any issues, make sure to verify your account from the "verification" section before proceeding with the redemption process.
OneGold's Market Tools and Resources
In this section, we will discuss the market tools and resources provided by OneGold to help you with your investment journey.
We will focus on live spot prices, market news, OneGold mobile app, AutoInvest, and custom market alerts.
Live Spot Prices and Market News
OneGold provides up-to-date, live spot prices for precious metals like gold, silver, and platinum.
This way, you can always stay informed about the current value of your investments.
Additionally, OneGold offers the latest market news to keep you updated on the global trends and factors influencing the precious metals market.
AutoInvest and Custom Alerts
One of the standout features of OneGold is their AutoInvest tool.
It allows you to set up automatic, recurring buy orders for your preferred metal based on a specific amount of dollars or ounces.
With AutoInvest, you can take advantage of compound interest to grow your investment over time.
For example, investing a modest amount consistently may result in a substantial portfolio value after several years.
The OneGold Mobile App makes investing in precious metals even more convenient.
With its user-friendly interface, you can manage your portfolio, track prices, and make informed decisions anytime, anywhere.
Furthermore, OneGold offers Custom Market Alerts to help you stay on top of market movements and potential investment opportunities.
You can set custom alerts that notify you when metal prices reach a specific threshold, allowing you to make investments even outside of market hours.
Frequently Asked Questions
Q1: Is OneGold legitimate?
Yes, OneGold is a legitimate online platform for investing in precious metals.
It is backed by industry leaders and has a strong reputation in the precious metals market.
Q2: Is OneGold a good app?
OneGold offers an easy-to-use app that simplifies the process of investing in precious metals.
Their app is designed to provide a user-friendly experience, allowing you to monitor your investments and make decisions with confidence.
=> Here is OneGold's competitor called Glint Pay.
Q3: Who owns OneGold?
OneGold is a joint venture between two established companies in the precious metals industry, APMEX and Sprott.
These companies bring a wealth of experience and resources to the platform.
Q4: How does OneGold work?
OneGold allows you to purchase and invest in precious metals such as gold, silver, platinum, and palladium online.
After creating an account, you can buy, sell, and store your precious metal investments using the platform.
The metals are securely stored at a third-party vault and are insured.
Q5: What is the alternative to OneGold?
There are several alternatives to OneGold in the market. Notable competitors include GoldMoney, Vaulted, and BullionVault.
Each of these platforms offers different features and benefits, so it's essential to research and compare them to find the best fit for your investment needs.
Q6: How do I withdraw from OneGold?
To withdraw funds, you can either sell your precious metals back to OneGold or request physical delivery.
The withdrawal process is streamlined, and OneGold offers various options for receiving your funds.
Q7: Is OneGold insured?
Yes, OneGold provides insurance coverage for the precious metals stored in their custody.
The metals are stored at a secure third-party vault, ensuring that your investments are protected.
Conclusion
OneGold stands as a trusted leader for digital precious metal investments, backed by the solid partnership of APMEX and Sprott Inc.
With stellar ratings and a user-friendly platform, OneGold is a top-tier choice for investors seeking security and transparency in their precious metals journey.
