Q: What gold services or products are offered with a Troygold account?

Save Buy and sell physical gold bullion in any currency amount. In South Africa, the gold form is bullion Krugerrands. Upload Upload your existing gold Krugerrands held at home or in safe-storage, into your Troygold gold wallet, by delivering them at one of our Upload Points and into our vault. Store The storage of your gold holdings in your Troygold account in our partner vault network. Insure Your gold holdings in the vault are fully insured against loss at all times. Borrow Access instant cash liquidity by way of a loan facility against your gold holdings as collateral. Spend Spend your holdings and facility funds anywhere where Mastercard is accepted as a payment method, or transfer out the funds to an external bank account. Transfer Gold Troygold’s peer-to-peer gold transfer network. By using the Transfer function, you can do a gold transfer by sending gold to anyone with a Troygold reference number

Question 1

How do I Buy/Sell any currency amount worth of gold?

Accepted Answer

The Troygold technology allows for Fractional Ownership of physically vaulted gold. Our technology digitises any bullion gold coin or bar that is added to the vault storage, after giving it a unique identity number, and then making it available for sale on the platform.

When you save in gold with your Troygold account using the app, you enjoy direct legal ownership of the exact amount of the physical gold that you have purchased in specific coins or bars (depending on your region). In South Africa, the only gold form held in the vault is 1 ounce gold Krugerrands.

All your gold holdings are fully allocated, meaning these are specific coins or bars are given a unique ID number before they are securely stored and fully insured in a high-security precious metals vault.

Even if you purchase less than a full 1oz coin or 1kg bar, you are allocated as a co-owner of that specific coin or bar. This co-ownership model is similar to the concept of undivided shares in a property’s title deed.

Administration of the Troygold ownership register is managed by Troygold’s proprietary technology. A user receives an ownership certificate, indicating the ownership percentage and in which exact coins or bars the user’s ownership vests.

Question 2

What gold services or products are offered with a Troygold account?

Accepted Answer

Save

Buy and sell physical gold bullion in any currency amount. In South Africa, the gold form is bullion Krugerrands.

Upload

Upload your existing gold Krugerrands held at home or in safe-storage, into your Troygold gold wallet, by delivering them at one of our Upload Points and into our vault.

Store

The storage of your gold holdings in your Troygold account in our partner vault network.

Insure

Your gold holdings in the vault are fully insured against loss at all times.

Borrow

Access instant cash liquidity by way of a loan facility against your gold holdings as collateral.

Spend

Spend your holdings and facility funds anywhere where Mastercard is accepted as a payment method, or transfer out the funds to an external bank account.

Transfer Gold

Troygold’s peer-to-peer gold transfer network. By using the Transfer function, you can do a gold transfer by sending gold to anyone with a Troygold reference number

Question 3

How do I withdraw funds from my Credit Facility?

Accepted Answer

To withdraw funds from your Credit Facility:

Open your Troygold app and Login.
Tap in Transact, and then on Withdraw (under Credit Facility heading).
Type in the amount of ZAR you wish to withdraw from your Credit Facility and tap next.
Your funds will be electronically transferred via EFT to the bank account stipulated in your User Profile (under Details in Settings > Banking).

Question 4

How do I add funds or repay my Credit Facility?

Accepted Answer

To fund your Credit Facility:

On the app home page, tap on Transact, then Fund.
Type in the amount of currency you wish to fund your credit facility with.
Follow the instructions on-screen or in the e-mail to transfer funds via EFT into your credit facility.
Note that you will need to make an EFT from your existing bank account outside of the Troygold platform. Troygold does NOT automatically request or debit the payment from your banking institution.
Your funds will be credited to your Credit Facility as soon as the funds reflect in the Troygold account.

Question 5

What is a Troygold account?

Accepted Answer

similarlyTroygold is a digital gold nonbank, so a Troygold account works similarly to opening a personal account with a bank. A Troygold account is a free, personal account that gives you access to the Troygold platform, and consists of:

A Gold Vault : The physical gold wallet showcases your physical gold holdings held with Troygold, which are securely vaulted and fully insured on your behalf. In South Africa, the underlying gold form is 1-ounce Krugerrands held in a partner gold vault.
A Credit Facility : This showcases the amount of currency you have available to borrow from your Troygold account, using the gold in your Gold Vault as collateral.

Question 6

Where is my gold stored?

Accepted Answer

All South African clients’ gold Krugerrands are stored in the Brinks Global high-security vault in Johannesburg.

All international clients’ gold bullion bars are stored with Brinks Global vault in Singapore.

Brink’s is the world’s leading precious metals vault – see website here.

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