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What Is E-gold?The world wide web needs world wide money. e-gold was created in 1996 in response to this need. e-gold is an electronic currency, issued by e-gold Ltd., 100% backed at all times by gold bullion in allocated storage. e-gold is accounted by weight of metal, not US$ or any other national currency unit. [DETAILS] Weight units have a precise, invariable, internationally recognized definition. Additionally, precious metals, gold in particular, enjoy a long history of monetary use around the world. Thus, e-gold is ideally suited for international transactions. Although e-gold is accounted by weight, the e-gold payment system allows Spends to be expressed in terms of major national currencies. For example, it's possible to:
This means (for example) that a Canadian can pay a German, or a Japanese can pay an Australian, the correct weight of gold (e-gold) for a good or service as easily as if the price had been quoted in his own national currency. e-gold is integrated into an account-based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to Spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put. Other e-metals are also issued: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold.
Opening An E-gold AccountIt costs nothing to open an e-gold account. There is no credit check. There is no minimum balance requirement. There is no concept of a "merchant account" in that all e-gold accounts may spend e-gold, or receive e-gold payments. In short, you are just minutes away from opening your FREE, no-obligation, e-gold account! Click Here To Open Your e-gold Account Now (Refer FAQ on e-gold.com)
Funding Your E-gold AccountThe e-gold system is designed to be absolutely free of any financial risk. There can be no debt or contingent liabilities associated with e-gold. For this reason, e-gold Ltd. does not possess any national currency of any nation and has no bank accounts. Thus, e-gold Ltd. is not able to offer currency exchange services. After setting up an e-gold account, the next thing you need to do is to get funds into your e-gold account There are only TWO ways to deposit money in (fund) your e-gold account:
Independent currency exchange services support exchange between national currencies and e-gold, accepting various remittance methods, including credit cards, bank wires, checks, and money orders. Here is a list of well-known currency exchange services:
Using E-goldThe nature of e-gold makes it suitable for quickly transferring funds and being accepted internationally. This makes it ideal for the following uses. Getting rewards The Internet has given rise to several online activities for which netizens are remunerated as a reward. An example are the paid-to-surf activities where surfers are rewarded using e-gold. Gomez PEER is an example of a reward programme that pays e-gold to be online. Making Payments In order to pay for goods & services online, the mode of payment chosen has to be secure, quick, and acceptable to the merchants concerned. e-gold due to it's nature, and as an e-currency with an account-based payment system, is ideally suited for this. Trading & Betting e-gold is after all backed by actual gold. Thus, trading in e-gold is as good as trading with actual gold, only a lot more convenient! Most trades involve profit-making by converting between e-gold and national currencies. e-gold is also ideally suited for betting games such as placing financial bets on the movement of currency exchange rates or precious metal rates. A good example of such a service is BetOnMarkets (BOM), where you can start generating your wealth with just $5 worth of e-gold. However, before you burn your hand & swear off of financial betting, I'd recommend you learn to better your odds in the BetOnMarkets system first. There are also online casinos that accept e-gold for bets on games. These are collectively referred to as gold games.
Investing Online e-gold can also be loaned to organizations indulging in profit-making activities. These loans attract high rates of returns between 1%-2% per day. These organizations are known as High Yield Investment Programs (HYIPs), and e-gold is their favorite e-currency! A good example of an HYIP is FastMarket. To know more about HYIPs, and how to invest in them, check out the Golden Investment Programs Guide. The target market for e-gold is simply people who use money i.e. all activities that would benefit from the increased security, efficiency, and lower cost of e-gold. Here are some examples of how e-gold is presently used:
Withdrawing From Your E-gold AccountThe first that probably comes to mind when one talks of withdrawal of funds is the debit of your funds account and the credit of your bank account. These services are generally provided by the same currency exchange services we saw while funding your e-gold account. Hence, I will not repeat that content here. However, since e-gold is both an e-currency and a commodity (gold), there are several other ways to withdraw funds from your e-gold account too! E-currency conversions Just like currency exchange service providers, there are also e-currency exchange service providers. It is quite common to find many organisations that provide both services. Examples of such services are TheGoldShop and GoldEx. Funding a Debit / ATM card Several e-currency exchange providers have tied up with banks and financial institutions to provide clients with debit-cum-ATM cards that can be used to withdraw cash in local currency at millions of ATMs across the world. They accept e-gold from their clients and fund the client's card with real world currency. Examples of such debit card services are Goldex Debit / ATM Card and Uniclear (Maestro / CIRRUS / Interac) Debit / ATM cards. Redeeming your e-gold There is always the option of withdrawing your funds directly from e-gold Ltd. As e-gold is accounted for in terms of weight, and is backed by real gold at all times, e-gold redeems your funds in the form of actual gold bars of equivalent weight. You can do so by clicking on the Redeem option after you log into your e-gold account. Selling / auctioning your e-gold Since e-gold is a prized commodity-cum-e-currency, there are many buyers for it. These buyers could be individuals looking for a better deal than the standard exchange fees of currency exchange services, or those that need e-gold in a hurry. They could even be individuals whose currencies are not acceptable at the currency exchange services. In any case, money can be made by buying and selling of e-gold.
Securing Your E-gold AccountAs in the case of all financial matters one has to be careful to maintain security of one's assets. In this case, your e-gold account, which contains your gold! Always remember to check if you are at e-gold's website everytime you are asked to log into your account. [How to check?] The e-gold service (system) cannot be hacked into. They are very secure. As a result of which the only other vulnerability is your account (login details), the security of which, obviously, is entirely your responsibility. It is, therefore, wise to stay updated with the kind of scams going around by visiting the Security Alert section on e-gold's website. |
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