Have you ever thought of investing in gold but don't know where to start? Us too. That's why we were relieved to find HelloGold.
HelloGold makes it really easy and accessible for ANY investor to start investing in gold. How easy? Just download the app, input your details and you're on your way.
And with a low barrier to entry of only RM1 for investors, HelloGold truly makes it accessible for anyone to invest in gold.
Why only RM1?
HelloGold CEO Robin Lee shares what he has found. "Bank Negara Malaysia tells us that the average Malaysian does not even have RM1,000 as emergency cash on a rainy day," he explains.
That means they won't have RM1,000 to dump into a gold account for it to grow over time.
Wanting to reach the mass market, even those who don't have the RM1,000 to invest, HelloGold decided to make its minimum investment as low as RM1.
This means YOU can even invest with your loose change.
Getting started with HelloGold Malaysia
The first thing to remember when investing with HelloGold is this: HelloGold isn't simply an app.
It isn't like your Facebook or Instagram, where all you would have to do is input some basic information like your name and email to get started.
HelloGold, while being an innovative fintech app, is first and foremost a financial institution.
"You don't expect to walk into a bank and open a bank account with just your name and email. The bank would need to verify your identity by checking your ID. That is the same with HelloGold," elaborates Lee.
So when you sign up for an account on HelloGold, what you should expect to do is share a screenshot of your ID as well as take a selfie to be uploaded (on the spot - so get your face picture-ready!).
The team at HelloGold will then verify this at the backend and send you a confirmation of the verification (typically done within 24 hours).
Investing in gold with HelloGold
Once you're verified, you can open up the app and top up your account with money from your bank account and pay a small transaction fee of RM1.20.
Every time you top up the account, RM1.20 will be charged. You will be led to a payment gateway where you can top up using the FPX system (the same system used to book airline tickets, movie tickets and online purchases).
Choose the bank account you want to use. Log in and make the transfer. Once that is done, the transaction will likely be processed within 24 hours.
After that, you can start trading gold on the platform!
How it works:
Have you ever heard from your parents that buying gold is always a good idea? When I got married, my mother-in-law immediately gifted my husband and I a small gold nugget.
Since we don't have a safe or our own place yet, I ended up keeping it in my bedroom in a drawer and it's been sitting in there ever since.
I don't know how much the value of the gold is.
But since starting my own HelloGold account, I can see from the homepage, how much gold I am holding, how much it is worth, how much current gold prices are and I can even sell the gold if I want to.
I am able to see my transactional history. If I really want to, I can even buy gold to GIFT to my friends! It's amazing.
Why it's great for women:
"Traditionally, in countries like China and India, women were always the one to hold gold," says Lee. However, the demographics of HelloGold users are leaning towards a male majority right now.
This doesn't come as a surprise since males dominate much of the investing sphere. Hopefully, with HelloGold, there will be a shift to see a higher take-up by women.
Gold is a safe haven asset that continues to be part of many balanced portfolios for its hedging capabilities against a volatile market cycle and unstable economy.
There is no reason why women shouldn't consider investing in it, especially if you have a more conservative risk profile when it comes to investments.
At HelloGold, their 30-staff workforce also has a decent mix of women. Though it might seem like a "not so sexy" industry, fintech is starting to see a lot more women taking up leadership roles.
Any decent financial advisor will tell you to have a balanced portfolio. After investing in gold, consider these other investments.