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?
https://kinesis.money/kinesis-precious-metals-c/
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.​

Click to expand...

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.
Click to expand...

 

[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.
https://kinesis.money/kinesis-virtual-card/
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]

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

Looks like:
https://kinesis.money/about-us/fees/#h-kinesis-virtual-card-fees-limits
But there is a 0.95% transaction fee on the card?

 

[jafo]

daniels27 said:
Looks like:
https://kinesis.money/about-us/fees/#h-kinesis-virtual-card-fees-limits
But there is a 0.95% transaction fee on the card?
Click to expand...

Damn! Good catch! Thanks!

 

[Cavendish]

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

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"

 

[playerone]

It's been around for a while... had a few associates who bought their yield returning
token... last i checked which was a few years ago... they said their yields were not as promised.

I did almost sign up, and was follow up calls for a good year, despite not committing to them.

that's all i know, never really dove in.