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❓ASK Can anyone sell real gold online as a profitable business ?

W

westmania

Guest
There may arise a lot of legal issues, but can gold become a profitable online sales product for a businessman ? Will he be free enough to sell it through his website within a country boundary ?
 
there's some sites selling gold and diamond online but it need to be a legal business first
most of them are based in europe and USA because you can send whatever you want with mail
in the third world countries like mine it's impossible
 
I saw some similar websites with this idea, the issue is that gold has a high value and needs an expert to verify it so people can buy it, and as a small unpopular website, i guess it's gonna be a hard start
 
I saw some similar websites with this idea, the issue is that gold has a high value and needs an expert to verify it so people can buy it, and as a small unpopular website, i guess it's gonna be a hard start

you exposed a nice point friend. About authenticity and geuine quality of gold. its not easy for newbie people to determine if gold is real or not.
 
This will only be temporary because not even 1% of people will be interested to buy gold online after this pandemic is over and it's just for this short time that you will see online sales working for gold. I also think that price of gold is low so it's also a reason.


Good points you bring out ! I did not consider or even think about coronavirus while wrote that thread. Its something like always be a "blackhat" or "mafia" impression on a suspicious business like buying gold or buying guns online.
 
never try it online always try the local dealers or legitimate companies. Gold is not like crypto, that you can buy online

yes offline in rral world its safe to buy from jewellery stores at least you can see it what you are getting from that business. thanks for the comment.
 
There are few apps in my country selling and buying gold exclusively but only for local people (they ask for national id verification etc). You store your gold "digitally" but if you reach at least 1 gram you can ask for your gold to be sent physically to you for a small fee. It comes with national certification and all. In general the trend of investing in gold seems to be increasing here since few years ago. A lot of e-commerce, marketplace, or even mutual fund apps offer gold cashback.
 
There are few apps in my country selling and buying gold exclusively but only for local people (they ask for national id verification etc). You store your gold "digitally" but if you reach at least 1 gram you can ask for your gold to be sent physically to you for a small fee. It comes with national certification and all. In general the trend of investing in gold seems to be increasing here since few years ago. A lot of e-commerce, marketplace, or even mutual fund apps offer gold cashback.
I like the KYC security measures adopted by your country, it will make the trading very safe , when I saw this thread my mind goes straight to scam and safety. Lots of people selling gold in my country are doing offline not yet online.
 
Any kind of gold trade in online is not legal in many countries except you live in Dubai where people cash out gold with the exchange of money and good and perfectly legal. There may be few online gold business companies so you have to go to Dubai and find them with legal rules.
 
such businesses exist online, but having the trustworth mark is hard as a beginner especially when it comes to selling such high valued things like gold, people mostly buy that offline from some stores .
 
I like the KYC security measures adopted by your country, it will make the trading very safe , when I saw this thread my mind goes straight to scam and safety. Lots of people selling gold in my country are doing offline not yet online.

To be fair it's not a P2P trading. The only gold you can sell is the gold you buy in that app and still stored digitally there.

For people who are good with managing money they probably won't need the app unless they just want to avoid storing the gold physically with them. It's mostly for people who are bad with managing money, since you can start your gold saving only from around $0.7. So once you put your money there you have no choice but to keep saving until it reaches at least 1 gr.
 
To be fair it's not a P2P trading. The only gold you can sell is the gold you buy in that app and still stored digitally there.

For people who are good with managing money they probably won't need the app unless they just want to avoid storing the gold physically with them. It's mostly for people who are bad with managing money, since you can start your gold saving only from around $0.7. So once you put your money there you have no choice but to keep saving until it reaches at least 1 gr.
Now I grabbed your point, so if for instance your store your there when the price is $0.7 you will leave it there till when the price rise to your desire price for sales right likewise you can't have physical gold right?
 
Gold business is mostly for those with enough money cos the business is also volatile and expensive to run. The online sales could be faster cos one can easily find buyer or seller without stress especially if the site is well known .
 
Now I grabbed your point, so if for instance your store your there when the price is $0.7 you will leave it there till when the price rise to your desire price for sales right likewise you can't have physical gold right?

You can have physical gold sent to you but only if it reaches at least 1 gr. Likewise, you have to have at least 1gr to sell it there. But yeah, you can buy 2 gr of gold when the price is $50/gr then sell it when the price is $60/gr.
 
You can have physical gold sent to you but only if it reaches at least 1 gr. Likewise, you have to have at least 1gr to sell it there. But yeah, you can buy 2 gr of gold when the price is $50/gr then sell it when the price is $60/gr.
Thanks, I guess those legit apps engaged in buying and selling of golds are only restricted to your country alone right ? It is also possible to monitor the price of gold through the apps?.
 
Thanks, I guess those legit apps engaged in buying and selling of golds are only restricted to your country alone right ? It is also possible to monitor the price of gold through the apps?.

Yes it's restricted only for local residents. Yep, you can monitor the price of gold so you know when you should buy/sell.
 
Well gold is like bitcoin where the price rises over time, though setting up an online shop with gold might be either ok or tedious depending on your location
 
Well gold is like bitcoin where the price rises over time, though setting up an online shop with gold might be either ok or tedious depending on your location
To an extent gold differs from Bitcoin in terms of price regulation. I don't think it will be tedious setting up your online shop or market place, provided your business is legit and you have the marketing skills online, easily you can .
 
Well gold is like bitcoin where the price rises over time, though setting up an online shop with gold might be either ok or tedious depending on your location

I think you are right but usually gold sellers sell all the year even if it is online just like crypto trading flows all the year along continuously.
 

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