Everest Gold’s New App Lets You Trade Gold With A Small Budget

For centuries, since the invention of silver, gold has been a sure asset for investors.

Regarded as a precious commodity throughout human history, investors have tended to shift their funds into gold assets during periods of uncertainty, resulting in price increases.

Therefore, the price of gold is inversely proportional to volatile assets, such as US dollar stocks and real estate. The weakness of supply and demand, the uncertainty and vitality of the market, as well as the decline of the US dollar, pushed up gold prices.

Since the COVID-19 outbreak at the start of the year, the value of assets such as stocks and real estate has depreciated. But over the past five years, the price of gold has increased by £ 484.60 an ounce.

With the looming recession, entering the booming gold trade is a great way to capitalize on an asset that is growing because it has a reputation for stability.

However, the gold market is notoriously difficult to penetrate for everyday investors. This is where Everest Gold’s digital innovations can make a difference.

A golden opportunity

Earlier this year, Everest Gold created and launched a one-of-a-kind digital trading platform for gold. Using the app, you can trade gold in real time, instantly and at affordable prices.

Traditionally, barriers to entry for the gold trade have been high and are often reserved for governments, businesses and wealthy investors. Gold is also traded with banks for a premium, which reduces the return on investment.

In addition, the lack of gold trading facilities in Singapore prevents investors from taking advantage of real-time gold prices. Security, storage and other disadvantages also deter new investors from entering the market.

To address these issues, Singapore-based fintech gold trading company Everest Gold created and launched a unique digital trading platform earlier this year.

everest gold singapore
Image Credit: Everest Gold

With this app, users can trade gold in real time, instantly and at affordable prices.

“We have identified the need to fill the missing gap in the local trade market,” said a spokesperson for Everest Gold. “Our investment app is a faster, easier and more profitable solution.”

Trade gold on the go

Designed to be a “single gold trading platform,” Everest Gold is digitizing the gold trade and making it accessible to everyone, not just a minority of the wealthy and the wealthy.

It is created for both novice and expert investors – the application interface is streamlined for ease of use and offers advice and knowledge on the gold trade. It is also equipped with a team of customer service agents to provide online support.

“There will be new deployments of online instructional videos, as well as all the major media networks for wider dissemination on investing in gold,” said the spokesperson.

everest gold singapore
Image Credit: Everest Gold

The gold trade is portable; you can exchange gold coins or bullion (gold bullion) from a smartphone or laptop without having to visit a bank.

To ensure that even those with modest starting sums can trade, the available base units start at 0.01 grams of gold. Equivalent to 1 unit Everest Gold (EGU), the smaller units make the gold trade affordable, accessible and flexible.

Gold traded on Everest Gold is sold at fairer prices than gold traded in banks. 1 EGU is bought with a discount of 0.2249 and sold with a premium of 0.0040 compared to gold sold in banks (/ 0.01 g).

The app also doesn’t have closing hours or long bureaucratic waits, which means investors can trade instantly 24/7.

Unlike banks, the app does not contain any hidden costs, premiums or transaction fees. Real-time market fluctuations are reflected in the app and vary more than 17,000 times a day.

Exchanging capital is easy – investors can liquidate immediately after trading gold assets. Alternatively, your physical gold assets can also be recovered from Everest Gold custodians by submitting a request in the application.

Why trust and security are “top priority”

However, when it comes to online gold trading, Everest Gold spokesperson told Vulcan Post that scams and the negative connotation of being associated with laundering efforts often come to mind and remain a “major challenge”.

This is why cultivating customer confidence is an “absolute priority” for the company. Rigorous security developments and compliance with legal requirements have always been at the center of their concerns.

In fact, all tradable assets on Everest Gold are regulated under the Singapore Precious Stones and Metals Act (2019).

To defend data confidentiality, the application is also securely encrypted using standard 256-bit SSL and has strict verification procedures, including biometric authentication.

Everest Gold also ensures that all of its processes and assets comply with standards and are 100% transparent.

It has even partnered with industry-leading companies to ensure the delivery of world-class gold assets, storage, auditing and authorization processes to its users.

Investment grade gold bars are acquired in partnership with Metalor, a leading Swiss metals trader. Each quarter, Everest Gold is also audited by Crowe, the eighth largest accounting firm in the world.

To protect Everest Gold’s assets, the company called on luxury storage expert Malca-Amit to secure its gold in highly secure facilities.

Everest Gold then transfers ownership of the digitally purchased gold to customers, in the custody of the Pacific Trustees Singapore gold custodian.

Investment in gold will continue to soar

Gold becomes more and more precious as the economy shrinks during the pandemic. Everest Gold notes that “it is clear that the value of gold does not depreciate and demand is always sought”.

Despite the launch of a beta version in March, Everest Gold has already gained nearly 100,000 downloads from the United States, the United Kingdom, Singapore, the Philippines and Malaysia.

The launch of the app comes at a perfect time, as market fluctuations and an impending recession further push up gold prices.

During beta testing, a week-long competition was held from May 23 to 29. It has registered more than 300 million EGUs processed, for a total transaction amount exceeding $ 600 million.

According to Everest Gold, users attest to the ease of use of the application, secure authentication and fast transactions.

“The platform is well designed and user friendly … Authentication is incredibly secure and transactions are fast,” said Dickson Laude, a competitor from the Philippines.

As the group expands, Everest Gold will introduce diversified investments for everyday investors to increase their wealth.

“We also hope to launch other asset management services; business loans and real estate investments in the near future, “said their spokesperson.

Everest Gold is available for download on Android, iOS and desktop. Official trading functionalities are already available and the first gold issue takes place from July 3 to 9.

For more information, see the Everest Gold website here.

everest gold singapore

Enter the referral code “WALWQ” when registering your Everest Gold account. Receive 300,000 reward points (worth US $ 30) for each successful registration.

This article was written in collaboration with Everest Gold.

Featured Image Credit: Everest Gold

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Jothi Venkat

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