- How's it going today, guys?
Welcome back to the channel.
I hope you're having a great day so far.
So in this video today, we're gonna be doing a review
of the OneGold precious metal investing platform,
and this is basically an app
that allows you to buy, hold, and sell precious metals.
Also, this video is sponsored by OneGold.
However, that has no effect or influence
over my opinion or thoughts of the app.
So, first of all, why invest in gold?
Well, I actually just did
a very comprehensive, 58-minute video
on gold investing for beginners.
So I'll put a card up in the corner
so you can check that video out at the end.
But if you wanna learn
about why most people, including myself,
are invested in gold,
be sure to check out that video.
So moving on here, what exactly is OneGold?
Well, methods of owning gold in the past
have been both costly and cumbersome;
for example, storing physical metals, paying high premiums,
sales tax paid on purchasing physical metals,
and then maybe any theft or loss concerns
associated with holding onto physical precious metals.
So as a result of this, a lot of people
have just stayed out of the precious metal market entirely,
and they may be missing out as a result.
Now, in my opinion here, guys,
OneGold is basically like the Coinbase of precious metals.
So in the same way that Coinbase makes it very easy
to go out there and invest in cryptocurrencies,
I think that OneGold has done this year for precious metals
with a very easy-to-use-and-navigate,
beginner-friendly, sleek app.
So this app allows people to easily invest in
as well as track precious metals' prices.
And that's something else I really like about the app,
is even if you don't plan on investing,
it is really solid to have all of the charts
to track prices of precious metals.
Now, in addition to this,
we know that OneGold was launched by APMEX and Sprott,
and APMEX is one of the most well-known
and trusted metal dealers here in the United States.
In addition, they are fully insured by Lloyd's of London.
In addition, OneGold is fully audited on a routine basis,
and customers actually own their metals
because they're not listed on OneGold's Balance Sheet.
Lastly, one of my favorite parts about using OneGold
is that you can request redemption for physical metals
right within the app.
So if you're using the vaulted storage
and then down the road for whatever reason,
you wanna get your physical metal in possession,
right within the app,
you can request physical metal redemption.
Now, as I mentioned here, guys,
one of my favorite parts about the OneGold app
is being able to track precious metal prices,
and these screenshots here are as of January 27th, 2022.
So what we're looking at here
are the prices of gold here in the last 24 hours,
in the middle here is the one-year price chart on silver,
and on the right is the five-year price chart on platinum.
And visually, I just find the app
to be very easy to navigate.
We're gonna be checking it out a little bit here shortly.
But just to show you some screenshots here of the charting,
it is a really solid place
to track prices of precious metals.
Now, beyond just tracking prices,
you're also able to manage your portfolio.
And on the left here, you can see
my small demonstration portfolio here with OneGold.
So right now, I had about 50% of my money in cash
and about 50% of it invested in gold
for a balance of just shy of 100 bucks.
Now, in addition, on the right,
these are the different features
or things that you can do with OneGold.
First of all, you can buy or sell.
You can deposit funds from the bank.
You can withdraw back, you know, out
and put your money back into the bank.
You can also redeem
and take physical possession of your metals.
And you can also set up an auto-invest strategy
if you wanna invest automatically
in any of these precious metals
on a set recurring schedule.
Moving on, let's now talk about the features of OneGold.
Well, first of all, in terms of the assets,
you're able to trade gold, silver, and platinum.
Now, when you're looking at vaults
which is where most people are going to store their gold
rather than redeeming it for physical,
you actually get to choose your own vault
when you invest with OneGold,
and, of course, you can redeem for physical metal
within the app at any point in time.
Now, in terms of track record here or legitimacy,
well, APMEX has been around for over 20 years,
and we know that this company here
is fully insured and audited,
and they don't do any mixing here
of company assets and customer assets.
Customer gold is never going to be seen
on OneGold's Balance Sheet.
Now, in terms of payment methods,
you can actually pay with a ACH bank transfer,
a wired transfer, and you can also use cryptocurrency
to purchase precious metals using the OneGold app.
In terms of the data, they offer a news feed
which is gonna cover any key news
related to the major precious metals out there
in addition to live spot prices.
As far as the types of accounts you can open,
they have both individual accounts
in addition to IRA products for retirement investors.
The minimum to start investing with them is five bucks
which is really low, guys.
So as a result, you know, OneGold is a suitable option
for somebody who's looking to invest
as little as maybe 100 bucks or maybe even five bucks
into precious metals
all the way up to $10 million or more.
Now, as far as the fees go on the OneGold platform,
well, you're going to find thinner spreads
and lower storage fees than most competitors.
So let's go ahead and cover those now.
For gold, the premium is going to be 0.8%
plus an annual storage fee of 0.12%.
With silver, the premium is gonna vary from 1 to 2%
and the annual storage fee is 0.3%.
Lastly, with platinum, the premium is 3.7%
and the annual storage fee is, again, 0.3%.
And then the last couple of features to mention here
is the auto-invest feature.
They also have video tutorials in the app that will show you
how to do just about anything you wanna do.
You can set alerts and you can also trade 24/7.
Okay, guys, so now we're gonna go ahead
and jump into the OneGold app on my phone
and do a live demo,
and I'll show you how to purchase gold
using OneGold step by step.
Okay, guys, so here we are
inside of the OneGold app on my phone,
and as you can see,
I have a current account value here of $99.24
with a cash balance of just over 50 bucks.
So right up here at the top, it's gonna show you
your current holdings of gold, silver, and platinum.
So right now, within OneGold,
I only have about 48 bucks invested in gold.
I actually do have
a much larger investment in gold through PAXG,
and eventually I do plan on moving that over here to OneGold
just because I would rather have my money here
where I can redeem it for physical
which is not something I can do with PAXG.
But if you wanna learn more about that,
I do cover that in my longer, 58-minute video
on gold investing for beginners.
So since I don't own silver or platinum,
it's not showing anything there.
And then if you scroll down here,
this is where you have those video lessons
if you want to learn more about using the OneGold app
for just about anything that it can do.
As we mentioned, you have the auto-invest feature.
You can also refer friends
and get, you know, like five bucks per referrals,
so that's also pretty nifty.
At the bottom here is the Market News feed
so you can get any news updates related to precious metals.
But overall, I like that it's just a simple, easy-to-use app
that is certainly not complicated.
If we jump over here to my portfolio,
it's gonna show a breakdown here of my holdings
as well as my cash.
And if you click on the timeline,
it's gonna show you a chart here of what happened
in terms of your money based on your purchase timing.
So it looks like when I ended up buying
a little bit of gold,
it went down and then it went up a little bit
and now it's gone down just a tiny bit.
But this is cool to get a visual
on the performance of your portfolio.
If you jump over to the Prices tab here on the bottom,
you can get live prices, spot prices for gold, silver,
as well as platinum,
so that is pretty easy to navigate as well.
Now what we're gonna do is click on GOLD,
and we're gonna click on the blue Start Investing button.
So at this point, I want to purchase U.S. Gold,
so I'm gonna click on the blue Buy button below U.S. Gold.
And then at this point,
you have to select your payment method,
and I'm going to personally use my cash balance.
So now that I selected that,
I have $50.32 that I could invest here in gold,
and I'm gonna go ahead and put 50 bucks into gold.
So I simply type in 50, I press Continue,
and then I have five minutes here to confirm this screen
after reviewing the details.
So basically, it's gonna end up being a buy here of 48.92.
And you can see here that there's no transaction fee
and there's no service fee
so you are able to review that information.
Keep in mind there is a small premium
that is paid to OneGold,
but those fees tend to be quite reasonable
and below what you tend to see as the industry average.
So now we're gonna click on Confirm Buy,
and just like that,
we went ahead and purchased 0.027 ounces of U.S. Gold
at 1,811.78 per ounce.
So if I now go back here to my portfolio and scroll up,
we can see I have 98.59% of my portfolio in metal
and a very small amount now sitting in cash.
And then lastly, if you click the blue circle button
at the bottom,
this is where you can buy or sell metals.
You can also deposit funds into OneGold from your bank
or through different means like wire transfer or crypto.
You can also withdraw funds from OneGold out
to your bank account.
And then you can also redeem here
to take physical possession of metals at any point in time
in addition to that auto-invest feature
if you want to invest on a set recurring schedule.
Okay, guys, so that is gonna wrap up
the demo here of OneGold.
I hope this was helpful for you learning about the platform.
And if you do decide to become a OneGold customer yourself,
well, they have supplied us here
with some exclusive discount codes for my audience only,
so you're not gonna see these anywhere else.
So, first of all, if you use discount code Scribner75
at checkout,
you're gonna get $5 off a buy order of $100 or more.
And if you use discount code Scribner95,
you're gonna get $100 off a buy order of $5,000 or more.
All of those links
are gonna be down in the description below,
but keep in mind you do have to type in that coupon code
in order to get your discount at checkout.
But anyways, guys, that is gonna wrap up this video.
I hope you enjoyed it.
Thanks again to OneGold for sponsoring this review.
If you are looking to learn more about them,
there are links down in the description below.
Be sure to check out that full 58-minute video
on gold investing for beginners.
There's a card up in the corner for that.
Thank you guys so much for tuning in,
and as always, I hope to see you in the next video.