Kinesis - anyone know about them?

[bubbledouble]

You can buy physical gold with them as I understand and will be given a debit card to send the gold to anywhere. I don't understand how this works?

Kinesis Precious Metals C

Kinesis is the only gold savings account that shares revenue to pay a monthly return on bullion that you own - at all times. Open a Kinesis gold savings account today.

kinesis.money

From there website:

We pay a yield on your gold savings
Kinesis is the only gold savings account that shares revenue to pay a monthly return on your bullion.​

This really sounds like a good way to earn money without doing anything?

How does Kinesis pay a monthly yield?​

Each time a Kinesis client buys or sells gold, a share of the transaction fee goes towards your monthly yield.
You hold full legal title of your gold bullion, at all times – and can sell your precious metals, any time you wish.

 

[daniels27]

As far as I can read from their website, you can use their debit card to make purchases. They then simply "sell" your gold. Instead of a cash back, you are then paid out a "yield" in gold.

Kinesis Virtual Card | Kinesis Money

Spend your gold, silver and crypto in real-time with instant fiat conversion, anywhere in the world with a virtual card.

kinesis.money

I am not sure how the yields are apportioned to the users, but their website suggests that the more gold you store, the more you get. Their fees of 0.22% on gold transactions is rather low, but they promise to give a part back to the users in the form of yields. I do not think it will be substantial, but probably you get back 0.05% per year of the amount of gold you store, unless their debit cards are excessively used in which case I would expect more.

 

[jafo]

I wonder if one can buy gold with crypto ... for those who are looking to "cash out" or pay their living expenses....

 

[daniels27]

I wonder if one can buy gold with crypto ... for those who are looking to "cash out" or pay their living expenses....

Looks like:

Fees

Find out how much it will cost to work with the Kinesis system with zero payment for storing precious metals and fixed trade execution fees

kinesis.money

But there is a 0.95% transaction fee on the card?

 

[jafo]

Looks like:

Fees

Find out how much it will cost to work with the Kinesis system with zero payment for storing precious metals and fixed trade execution fees

kinesis.money

But there is a 0.95% transaction fee on the card?

Damn! Good catch! Thanks!

 

[Cavendish]

I wonder if one can buy gold with crypto ... for those who are looking to "cash out" or pay their living expenses....

I emailed them a set of questions yesterday, one of them was yours above. Here is the answer just received.. and to save you reading - the answer is yes!

"Regarding buying KAU or KAG with cryptocurrency, The Kinesis Exchange is an intuitive trading platform, plugged into a thriving exchange ecosystem. The Kinesis Exchange enables system users to trade across 100+ available markets, whilst providing them with first-grade security. Here is the video guide of the Kinesis Exchange overview: https://support.kinesis.money/hc/en-gb/articles/12431993898653-The-Kinesis-Exchange-overview

Here is the Kinesis Exchange Guest page, you may check on the pairs that are available: Kinesis Money"