A Brief Explanation Of E-gold

E-gold is known as private currency as it is not issued by governments. E-gold is integrated into an account based payment system that empowers people to use gold as money. E-gold was created in response to this need.

E-gold transactions — a "spend" — are completed electronically, usually using the web interface, and they always settle by weight of the metal even if denominated in some other way.

E-gold is a form of commodity money, so it is subject to the price fluctuations of that commodity. E-gold does not sell its e-metal directly to users. E-gold, unlike e-Bullion for instance, does not sell digital currency directly to the user.

E-gold charges an account fee (or Agio Fee) of 1% per annum (deducted in monthly payments) on all e-metal stored. E-gold spends clear instantly, in contrast to checks or credit card transactions. E-gold clients can place a referral link on a website to generate a few cents in referral income.

E-gold has been perceived as the medium of choice for many online con-artists, with pyramid schemes and High Yield Investment Programs ("HYIPs") commonplace. E-gold and OmniPay have also been accused of being a medium for money laundering, although this is questionable given that there were only 24 customer accounts holding over 10kg of gold (approximate value$200,000) by April 2006.

E-gold has a long history of cooperation with law enforcement agencies in the US and worldwide, providing data and investigative assistance in response to lawful requests. E-gold's Terms of Use stipulate that all transactions are final and E-gold cannot be held responsible for any spend. E-gold offers no protection whatsoever if an attacker succeeds in obtaining the user's E-gold account number the user's E-gold password access to the user's registered email account (web-based email accounts without a secure login are especially vulnerable).

E-gold is also contractually prohibited from freezing E-gold accounts or releasing E-gold account information in the absence of a court order or subpoena.

E-gold cleared an administrative issue and as of July 14, 2006, it is properly registered in Nevis. E-gold does maintain an "Examiner", a web page with updated statistics on outstanding liabilities and the total amount of each precious metal in its holding.

E-gold runs a non-reversible transaction policy, meaning that there is no protection for purchasers if vendors fail to supply goods.

E-gold is an online currency 100% backed by solid gold, at all times in bullions.

E-gold is integrated into an account based payment system. E-gold is considered a pioneer in the field of alternative currencies. E-gold Investments Online is an internet representation of an offshore company registered in Belize. E-gold Investments Online is the participant of one of such programs.

An E-gold exchanger is someone who exchanges national currencies for e-currencies. There is a charge of a few cents to make each E-gold "spend" and E-gold itself now earns well over a million USD per year from fees.

E-gold also operates outside the radar screen of federal regulators and the world's financial establishment. E-gold sells the customer gold, silver, platinum, or palladium -- whatever the customer chooses -- at a price determined by E-gold , which is roughly the going spot price for each precious metal.

E-gold can also be used by small businesses abroad that don't qualify to accept credit cards or don't want to pay credit-card company fees of about 3% per charge.

E-gold has struck a chord especially with members of libertarian and antigovernment groups E-gold 's antigovernment message, along with the apparent privacy of E-gold , have created some rabid enthusiasts.

E-gold may appeal to those who share the company's philosophy about the value of gold as currency. E-gold is a major attraction to "gold bugs": people who invest in the precious metal and believe money ought to be anchored to it. E-gold boasts that its digital currency is backed by a stash of gold bars stored in London and Dubai. E-gold also operates outside the radar screen of federal regulators and the world's financial establishment.

E-gold is a closed system, the only way to obtain E-gold is by receiving a transfer from someone who already has some, and the company maintains a permanent record of all transfers.

E-gold investing is a all about a system that allows you to profit from the money that is being traded everyday on the internet. An E-gold account can be used by anyone who is or wants to engage in one transaction or the other on the Internet. E-gold is like a bank that simply keeps your money stable and handles your transfers for a very low fee.

E-gold machine is money-making system that is created for any E-gold account holder who want to earn money automatically. E-gold is succeeding where other electronic payment initiatives are failing because it is designed specifically for worldwide eCommerce.

E-gold is the store of wealth in cases when inflation and other circumstances had caused credibility loss in the Federal government and the paper they print so eagerly lately. E-gold is second only to PayPal in popularity.

E-gold is ideally suited to international transactions because weight units have a precise, invariable, internationally-recognized definition and precious metal prices are less volatile than paper currencies. E-gold can be thought of as a foreign currency that has a value relationship to your usual currency and to other foreign currencies.

E-gold isn’t banking, so you won’t be paid interest on the metal in your account.

E-gold, however, as a matter of incontrovertible fact, is the most effective of all online payment systems in detecting and interdicting abuse of its system for child pornography related payments.

E-gold has settled over 70M transactions and has over 3 million accounts in more than 165 countries and has the credibility of significant tenure, having been in operation online for almost 10 years. While other payment systems have come and gone losing millions of investment dollars. E-gold is a robust, secure system including its AccSent program and Secure Random Keyboard that combats password theft and unauthorized account access. E-gold users can be assured that their online transactions are private, but those who may wish to hide illicit transactions should know they are not anonymous.

E-gold is accepted at online bookstores, web hosting and web design companies, many auction sites, travel agencies, and many other retailers. E-gold s unique features and investigative protocols make it the poorest choice a criminal could make.

E-gold attorney Andrew Ittleman said no consumer can join the service without depositing money through other banking institutions. E-gold does not offer authorizing credit cards transactions or funding you E-gold accounts directly from credit or debit card. E-gold does not have any geographic restrictions, so anyone can join. E-gold allows multiple accounts for individuals and does not check your personal data (unless account is blocked).

E-gold can also be used by small businesses abroad that don't qualify to accept credit cards or don't want to pay credit-card company fees of about 3% per charge. E-gold 's antigovernment message, along with the apparent privacy of E-gold , have created some rabid enthusiasts. E-gold may appeal to those who share the company's philosophy about the value of gold as currency. E-gold appeals to "gold bugs": people who invest in the precious metal and believe money ought to be anchored to it.

The bottom is that E-gold has some drawbacks, but in my opinion its still one of two best online payment processors available.

by: John Gibbs