Minted has launched a new savings app enabling people to invest in precious metals.
In Brief:
Minted is a UK based FinTech that has gained an FCA licence.
Customers can invest from as little as £30 per month.
They can purchase gold and store it for free in a vault.
What does this mean?
Minted aims to make investing in gold more accessible for consumers.
We spoke with Co-Founder Shahid Munir late last year, who commented:
“We started this company because we wanted to give customers a good deal when investing in gold, and we want everything to be black and white.” This element of accessibility, Munir says, will have a huge impact on young people today and the way they manage money. “We live in a very fast paced environment. Savings amongst millennials are at an all time low. It’s become almost a trend to live month to month.
“By making gold accessible, people can put money into a physical asset which makes them think twice before spending it.” On the Minted platform, there is an option to sell instantly, but Beta testing has found a very small number of people choose to sell. “Once people buy it, they’re happy to hold it,” Munir explains, “That’s exactly what you should be doing with gold. It’s something that grows, and throughout history we’ve seen it outperform inflation and keep its value.”
