...The fee is only less than 0.1% annually, according to the site's notes. 0.1% per year, it does not expensive...
To be exact this is an annual storage fee of 0.99% (0.0027% per day)
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Thank you for your snapshot of your deducted fees.
The fee is too small, personally but with the latest changes of interest rates from SEC, it will result in potential discuss about it (but I hope we won't fall into it). In crypto, you can earn fastly money so 0.1% per year should not be taken into consideration. Moreover, the fee (annual) is low than some exchanges' trading fees.
Dear tbct_mt2,
The annual fee for storing the GOLD token is 0.99%. The half of that amount goes to Bullion Star vault. You don’t think that gold is stored there for free?
Moreover, if you personally kept gold there, you would pay more. The second half of the fee goes to different payments. It is clear that at the moment, 98% of all payments are paid personally by the founders of our company. A little bit later, as the amount of stored gold becomes higher, all the payments will be paid by the GOLD token users though the fee. Everything is exactly the same as in the futures gold market. When you purchase a gold ETF, you also pay an annual commission for owning an ETF. The most important difference is that ETFs are not backed by physical gold. We plan to receive further net profit, as ETF issuers get it.
But you can make everything personally. Buy gold, transport it, pay for storage, sale commissions, etc. For small amounts, expenses can be up to 100 percent or more of the purchased gold value.
Regards,
Support Team @ Digital Gold
https://gold.storage
