How To Grow Passive Income With S’pore Gold Trading App Everest Gold

The economy faces a recession in the midst of a global pandemic, with downsizing and pay cuts weakening incomes.

Trading volatile assets during this time of turbulence can be a risky move, but where stocks and other assets falter, gold has risen in value.

That said, investing in gold is a great way to earn a passive stream of income – if you play your cards right.

When I reviewed the Everest Gold app in August, I was able to easily earn S $ 20 in two days.

Launched in Singapore earlier this year, Everest Gold is the latest gold trading app on the block, providing investors with unprecedented convenience and lowering barriers to entry for gold trading.

Formerly used as an anchor against the US dollar, gold is distinguished by its status as a safe haven asset.

Unlike investing in penny stocks or dot-com IPOs, the value of gold does not fluctuate drastically.

Everest Gold Bars
Image Credit: Everest Gold

When raw materials like crude oil are consumed, gold as a produced raw material has a fixed amount over time because it is a precious metal. All the gold that has ever been mined over the millennia could easily fit on a football field.

As the value of assets increases and decreases, gold tends to retain its purchasing power over time.

As a result, investors flock to gold as protection against the economic crisis and market turbulence, and it is often used as an asset in portfolio diversification.

Until the 1970s, the value of gold rarely changed when it was used as an anchor for the US dollar. However, since the abolition of the gold standard, the price of gold has continued to increase.

The price of gold peaked in 2012 at US $ 1,916 an ounce and went down until the first quarter of 2016, when its value rose 17%.

As a result of Covid-19, gold prices tend to rise with a 26.65% gain in 2020, trading at US $ 1,928.90 per ounce in October, exceeding peak prices in 2012 .

The launch of Everest Gold in 2020 was an opportune time for investors looking to diversify their portfolios with gold assets.

Traditionally, gold trading has been the domain of retail entities and central banks, which hold large amounts of gold in their vaults.

The barrier to entry for trading in gold for individual investors is high because the premiums on gold purchases and inconveniences such as security and storage deter ordinary traders from buying gold assets.

Everest Gold Foundry
Image Credit: Everest Gold

However, Everest Gold offers investors the ability to trade gold on a low budget.

Through the app, you can buy as little as 0.01 grams of gold (one Everest Gold unit), backed by gold assets certified to industry standards under Swiss metal trader Metalor.

With the Everest Gold app, you can buy, sell and profit instantly. There is no minimum deposit, so you can start trading with as little as S $ 500.

In addition, fintech takes care of the security and storage of your gold assets. Everest Gold partners with international companies to audit, secure and provide custodial services for your gold bars.

As a result, gold trading can be done on the go and anytime, as all you really need is an internet connection and a smartphone.

Everest Gold Trading app
Image Credit: Everest Gold

The app displays real-time gold prices, allowing you to make trading decisions based on precise reflections of market data. Since the app is hosted on your smartphone, you can react to market fluctuations immediately.

The low barriers to entry and the high liquidity of trading gold on Everest Gold make it an ideal tool for beginners looking to get into gold trading and seasoned investors looking for a more practical method of conserving their assets.

But of course, developing a passive stream of income takes time. Trading safe-haven assets with a low starting minimum on apps like Everest Gold allows you to experience first-hand commodity trading in a secure environment.

Starting in September, Everest Gold is running six rounds of gold trading contests through February 2021, so users can put their trading skills to the test and win attractive prizes.

To be eligible, you must complete at least three transactions (buy or sell).

Entrants from the top 20 percent in US dollars will stand to win a ticket to the Grand Final, and the top prize winner of the competition will win S $ 1,000 in CapitaVouchers.

The next Round 2 competition will take place from October 23 to 29, 2020.

Everest Gold Contest Date
Image Credit: Everest Gold

All verified users of Everest Gold who are residents of Singapore are eligible to enter this contest. No registration is required – all of your real-time trading activities will be automatically logged throughout the competition period.

To get started in gold trading, download Everest Gold on iOS and Android now.

Sign up and receive 300,000 reward points valued at S $ 40 after verifying your account. Reward points can be redeemed for gold during Gold membership events.

Enter the referral code “EGSG40” when signing up for your Everest Gold account. Promotion valid until October 31, 2020.

This article was written in collaboration with Everest Gold.

Featured Image Credit: findglocal / luxesocietyasia

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Jothi Venkat

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