Frequently asked questions

How fast is a transaction between two Aurupay accounts?
Every transaction is processed immediately.
Can I chargeback a transaction?
Once a transaction is completed, it cannot be undone. The reason for this is that an account balance is encrypted by default. So, you need to trust the received before you do transaction.
How long does a deposit take?
It depends on the payment method, but the slowest payment methods takes 2 business days.
Which fees I have to pay?
When you selling or accepting gold, you have to pay a fee. All other fees like for transactions, storage or maintenance are nonexistent.
Do you offer an app to use Aurupay?
In order to protect our users, we don't offer an app. We do not recommend saving the password in a smartphone browser as well, to be safe in case the device is stolen.
It is risky to invest in gold?
There is a potential risk that gold could fall in price. However is this risk limited, because gold is the only commodity that has steadily risen since its performance was recorded. Sure there are some consolidations in the past, but in the long run, its one of the most stable investments somebody could have.
Does your account pays interest or dividend?
No, our gold backed account does not pay interests or dividends.
How is the gold-price calculated?
Gold has two prices, the first price is determined by exchanges (like Nasdaq in our case, symbol: GC:CMX) and represents its virtual price. The second price represents physical gold price, which is usually 10% higher (due to handling, energy and labor costs, as well as storage fees on the manufacturer's side). We as Aurupay get our physical gold much cheaper, which gives us the possibility to calculate our gold price as follows: one price comes from the exchange, the other from the manufacturers who produce our 1 gram gold bars. The arithmetic mean is our gold price, which is determined every 90 minutes. This gives us a price that is below the physical price, making our gold about 5% cheaper.
I assigned a payment method to my account to sell my gold, but why doesn't anyone seem to be buying it?
Our algorithm always favors cheap offers. As long as there are offers with a lower or no surcharge, these offers will be preferred, so reduce your surcharge.
Why is only 30% of your gold backed by physical gold?
Since Aurupay gives its users the ability to send, receive, invest and accept gold as payment, we need to ensure that the market between buyers and sellers is always balanced. Sometimes we need to support one of these two sides to ensure market liquidity. Because of this, we need to have sufficient funds to process payments.
What kind of gold bars do you send out?
We send out 1 gram gold bars by the manufacturers Heraeus or Valcambi. We do not ship gold coins as their value can vary depending on age, series and purity, making it difficult to calculate actual value. For us, gold is the currency of mankind, not a collector's item.
How long does a delivery take?
We ship within 72 hours as an insured and trackable package. The delivery itself could take up to 10 business days.
Is physical gold accepted in retail stores?
It depends how "good" the local currency is, in countries which an unstable currency gold is everywhere accepted and even preferred, especially when the bars are standardized in weight and purity just like ours.
Is your company somewhere regulated?
Our company is not regulated as it is a simple online shop for gold which has decoupled the purchase of gold and its delivery. This idea gives its users the ability to send and receive each other's gold virtually without being delivered.
How or why should I trust your company?
You don't have to trust our company in financial matters as transactions between other accounts, selling or buying gold is done with other Aurupay users. All we do is provide a website to make these deals as safe as possible for everyone involved. There is a risk of delayed or stolen gold shipments, however these are insured.