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Goldmoney Reviews

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Ryan Paulson (CFA)

8.3/10 (Expert Score)
Product is rated as #5 in category Precious Metals
Goldmoney presents a comprehensive service for those interested in investing in precious metals, supported by educational resources and strong security measures. However, potential clients should be aware of the possible complexities related to fees and some reported customer service issues. These factors should be carefully considered alongside the benefits when deciding whether Goldmoney is the right platform for their precious metals investing needs.
Reputation and Experience
Fees and Costs
Customer Service
Selection of Offered Metals
Storage and Security
Buyback Policy
Educational Resources
Accreditations and Licensing
Ease of Transaction
  • Educational Resources: Goldmoney offers a substantial library of educational materials, including books, whitepapers, and real-time market updates, which can greatly benefit those looking to deepen their understanding of precious metal investments​​.
  • Security Measures: The platform takes security seriously, implementing measures like two-factor authentication and regular independent audits to ensure the safety of client assets​.
  • Global Reach: Goldmoney operates internationally, providing services to clients in over 150 countries, which highlights its expansive network and capability to handle global transactions​.
  • Customer Service Issues: Some users have reported challenges with customer service, specifically regarding response times and the resolution of account issues​.
  • Limited Customer Perception: Despite being a legitimate company, Goldmoney has received mixed reviews overall, with some customers expressing dissatisfaction with their experiences​​.

What is Goldmoney?

Goldmoney is a fintech company that offers services for the custody and transaction of digital gold and precious metals. Founded in 2001 by Roy Sebag and Josh Crumb, the company aims to revolutionize the accessibility and usability of gold as a medium of exchange in the digital age.

In 2015, the company decided to change its name from BitGold to Goldmoney. Goldmoney provides a platform for individuals and businesses to engage in the buying, selling, storing, and transferring of physical gold, silver, platinum, and palladium.

Users have the option to open an account with Goldmoney and securely store precious metals in vaults located across the globe, including Canada, Switzerland, Singapore, and Hong Kong. The company guarantees that the precious metals are completely reserved and allocated to each customer.

Goldmoney offers a unique feature that allows for seamless peer-to-peer transfers of precious metals. Users have the convenience of sending gold or other metals to fellow Goldmoney account holders with ease and at no cost. This feature allows individuals to conduct transactions and make payments using gold as a form of currency.

Goldmoney also offers a range of supplementary services, such as a Goldmoney Mastercard that enables users to conveniently use their precious metals holdings at any merchant that accepts Mastercard. The company also provides options for converting precious metals holdings into fiat currencies and vice versa. At present, OneGold stands as their largest competitor in the industry.

People Behind Goldmoney:

Mr. Roy Sebag: Co-Founder and Chief Executive Officer

Roy Sebag is one of the co-founders of Goldmoney. He has been leading the company as the CEO since day one. Sebag is a savvy individual with a strong background in finance, making him well-versed in the world of entrepreneurship and investment. He played a crucial role in shaping Goldmoney’s vision of making gold and other precious metals accessible to everyone. Mr. Sebag also serves as the Founder and Chief Executive Officer at Menē Inc., a direct-to-consumer jewelry brand, in addition to his role at Goldmoney. Menē specializes in crafting exquisite jewelry made from pure 24-karat gold and platinum. Our pieces are sold with complete transparency, based on their gram weight.

He has also written a bestselling book called “The Natural Order of Money” and has authored notable papers including “Global Gold Mine & Deposit Ranking” and “The Gold Jewelry Standard.”

Mr. Josh Crumb: Co-founder and Chief Strategy Officer

Josh Crumb is also a co-founder of Goldmoney. He occupies the role of Chief Strategy Officer. Crumb is highly knowledgeable in finance and investment management. He has played a key role in shaping Goldmoney’s strategic direction and product development.

Paul Mennega: Chief Operating Officer

Paul Mennega holds the position of Chief Operating Officer at Goldmoney. With a strong background in technology and operations, Mennega efficiently manages the company’s daily operations, which encompass technology infrastructure, customer support, and compliance. In 2015, Paul joined Goldmoney as a Senior Software Engineer. However, in 2017, he made a transition to the role of Chief Operating Officer (COO) within the company. Throughout his time as COO, Paul has focused on improving processes and fostering growth within the workforce.

Goldmoney Products:

Goldmoney provides a comprehensive system that covers a wide range of products and services to meet the diverse investment needs of its customers. The company’s flagship platform, Goldmoney Holding, streamlines the process of conducting business and making investments with Goldmoney.

Goldmoney Holding prides itself on its commitment to inclusivity. Individuals, corporations, trusts, joint owners, and various investment companies can open holdings and participate in transactions. Goldmoney’s services are designed to be accessible to a wide range of customers, offering flexibility to meet their needs.

Goldmoney offers a range of Metal Transfers and Business tools to ensure smooth international transfers and efficient business operations. These tools allow customers to efficiently and seamlessly conduct transactions, supporting their international business activities.

Customers on the Goldmoney Holding platform can explore a range of precious metals, such as palladium, platinum, silver, and gold, for purchase. It’s worth mentioning that the minimum investment allowed is one gram of gold. Goldmoney provides customers with the option to store their metals in six different vault locations around the world. These locations include Zurich (Switzerland), Ottawa and Toronto (Canada), Singapore, London (United Kingdom), and Hong Kong.

Goldmoney Fees:

Goldmoney applies a range of fees for its services associated with purchasing, selling, safeguarding, and managing precious metals accounts. Goldmoney’s fees are determined by the value of the account or the quantity of precious metals held, potentially resulting in higher annual fees as clients accumulate more metals. This sets them apart from competitors who charge a fixed storage fee.

Goldmoney charges a commission fee starting at 0.05% for the purchase or sale of gold and readily available precious metals. However, for more uncommon and difficult-to-locate metals, the commission fee increases to 1%. Goldmoney also charges a fee of 0.075% for exchanges between vaults or when clients transfer their metals from one vault to another, in addition to transaction fees. Storage fees can differ based on the vault location and are calculated based on the types and amounts of precious metals owned. Customers with a holding of 50,000 ounces or more can take advantage of lower storage fees.

Goldmoney also charges fees for accounts that are not being actively used. Applicable fees are charged when clients no longer make purchases or use their accounts. An account becomes inactive after three years of no access, and after seven years, it becomes dormant. Goldmoney applies a monthly fee of up to 1% of the total account value until the owner or another person logs in or contacts the company.

Golmoney Reviews and Ratings on Other Platforms:

The Better Business Bureau (BBB):

According to the Better Business Bureau website, Goldmoney has received an A+ rating. However, it is worth noting that the company has only received 1.5 stars out of 5-star ratings based on a small number of customer reviews. They have accumulated over two decades of experience in the precious metals industry. A total of 7 complaints have been filed and closed in the past 3 years. The business does not have BBB accreditation on the Better Business Bureau website.


According to 82 customer reviews on Sitejabber, Goldmoney has received a rating of 1.5 stars out of 5. The reviews provided are not favorable towards the company. Customers expressed dissatisfaction with the company’s customer service and the delayed delivery.


Goldmoney has a rating of 2.5 stars out of 5 on the Trustpilot website, as per customer reviews. There are a total of 1922 customer reviews available on the website.

Goldmoney Review: Conclusion

Goldmoney seems like a promising company. They have been in the industry for decades and offer a unique way for investors to buy gold. However, they have received a lot of negative reviews. Also, the company does not offer gold IRA services.

Specification: Goldmoney Reviews

BBB Rating




Trustpilot Rating

Less than 3


305 – 334 Adelaide St W Toronto, ON M5V 1R4


Paul Mennega (COO)

Alt. Name


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