Tech

You can now recycle for gold in Malaysia

HelloGold KLEAN main

Plastic and tin cans for gold? Sounds improbable but HelloGold and KLEAN are doing it

Every one of us should inoculate the habit of recycling. We the amount of waste produced by a single person, if we could reduce the amount of waste we have, the world ought to be a better place. Sometimes, having a reward system of getting some benefit (aside from saving the planet) does go a long way in encouraging people to do the right thing.

So what if you were able to recycle and get gold at the same time? Sounds far-fetched right? Actually, it isn’t thanks to HelloGold and KLEAN. If you’re wondering just who these two companies are, HelloGold is an app and service that allows you to save in gold. Basically, it’s an online gold investment scheme that encourages people to save in gold instead of cash as it is seen to have a relatively stable value. KLEAN, on the other hand, produces what are called reverse-vending machines that allow people to recycle products while collecting KLEAN credits which can be used as virtual currency to purchase anything from mobile credits, food and other products.

Now HelloGold and KLEAN are collaborating together to allow people to collect investment-grade gold whenever they recycle. So instead of getting KLEAN credits, whenever you recycle at a HelloGold and KLEAN machine, you’ll get investment gold in your HelloGold account instead. The rate you’re getting? For every plastic bottle or can recycle you’ll be able to get 0.00059 grams of investment-grade gold in exchange.

HelloGold Klean machine

Use these machines to turn your plastic and tins into investment-grade gold

Of course, you won’t be getting physical gold in your hands. As we mentioned before, HelloGold allows you to invest in investment-grade gold, but you won’t be holding on to the gold itself. Instead, it will be all stewarded in a vault over in Singapore.

So how does it work? First, you’ll need to download the HelloGold app and register for an account. After that, bring your empty plastic bottles and cans to a KLEAN machine. After recycling the bottles and cans, you’ll be given KLEAN credits which you can change into gold. The whole process of converting KLEAN credits to HelloGold gold has been made seamless between KLEAN and the HelloGold app.

That being said, as novel as this idea is, in order for you to get 1 gram of gold you’ll need to recycle at least 1,695 bottles or cans. And depending on the value of that investment-grade gold, that one gram could be worth from as low as RM86 to RM215. So that’s going to be a lot of bottles and cans before you get a decent amount of gold.

Still, it’s a good way to get people to recycle. The reward may be small in comparison but, its still something. Around 40 KLEAN machines will be available around the Klang Valley by July and there should be 500 deployed by the end of the year throughout Malaysia.

So are you incentivized enough to go recycle now?

You can download HelloGold on Android here and on iOS here

Source: Vulcan Post

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