Feel free to email suggestions for FAQs or general feedback to firstname.lastname@example.org.
How does Kinesis compare to other storage providers?
What is the easiest and cheapest way to fund my account?
Users can transfer directly from their bank account. Non-US users can use a company such as Wise to convert their currency to USD before transferring. This will save on conversion costs.
The cheapest way for many right now is to send your local fiat to a crypto exchange. Buy a crypto Kinesis uses that has cheap network fees, and send that to Kinesis. If you are using Kinesis it is unlikely you would keep your balance in USD in any case.
On ramp banking partners for the UK and Europe are in the works which will allow direct depositing in these currencies as well as processing of debit card payments. I expect the US to follow later as well.
From Australia I send AUD directly from my bank to Kinesis’ Australian bank account. No fees are charged, and I can trade directly on the exchange from there.
How do the debit cards work – do I need to top up?
Now this is really cool! No top up is needed, you simply pre-select an order of up to 5 assets (fiat, metals or crypto), and the system will automatically sell those assets in order at time of purchase.
Let’s say I’m buying something for $100 on my Kinesis virtual card. I have selected these 5 assets in this order and have the following balances:
- KAU – $40
- KAG – $35
- BTC – $20
- XRP – $10
- USD – $20
At point of sale, the system immediately sells all my KAU, KAG, BTC and $5 worth of XRP for a total of $100 to pay for the transaction.
What fees are there for using Kinesis?
Insured, audited storage of gold and silver – No fees
Trade execution fees on the exchange – 0.22%
Wallet and account transfers – 0.45%
Spend on virtual debit card – 1.95% card provider fee + 0.22% trade execution fee for a total of 2.17%, BUT Kinesis puts its 0.95% of the provider fee back into master fee pool, PLUS with the forthcoming 3% cashback (well goldback) at leading US stores, the fee could be negative in many cases.
For a full list of fees click here.
When will KVTs be tradable on the exchange?
This is yet to be confirmed, but will likely be after the KVT yield payments start to be made. My guess is after partnerships generate a yield large enough to justify current exchange price.
What is happening with the Kinesis debit cards?
Currently the virtual card is in beta testing phase with a select group of Kinesis members. This should be complete imminently and then available on Google Pay and Apple Pay (once the mandatory Apple Pay wait period is complete).
Physical debit cards will be available shorty after.
How do I purchase discount KVTs?
Not for profit organisation Citizens for Sound Money are selling discount KVTs. At time of writing you can purchase 2 KVTs for $1100 each ($1,050 with a referral code).
For each person you refer you can buy an additional discounted KVT. Beyond that they are $1,450 each.
You can use my referral code for this if you like – K263
What is Referral Silver Rewards?
Kinesis will reward you and a referrer with 1/2 KAG (1/2 Oz Silver) each when you sign up via a referral link such as mine and:
- Complete KYC requirements
- Deposit a minimum $100 worth of fiat or crypto, and
- Trade a minimum of $3,000 worth of KAU, KAG or crypto in the Kinesis Exchange.