| E-gold is an electronic gold currency issued | | | | form of payment. E-gold has a few advantages |
| by Gold & Silver Reserve Inc. under | | | | over conventional forms of payment. For |
| e-gold Ltd., a Nevis corporation. E-gold is | | | | instance, the transaction fee on an e-gold |
| integrated into an account based payment | | | | spend is very much affordable. Furthermore, |
| system that empowers the instant transfer of | | | | relative to credit card transactions or |
| gold ownership between users. The e-gold | | | | checks, e-gold spends clear instantly. Unlike |
| corporation boasts of an overwhelming two | | | | PayPal and other payment processors that |
| millions accounts. With over 3 tons of gold | | | | typically have several account types, e-gold |
| in storage and an estimated 50,000 e-gold | | | | system bears only one account type. That is, |
| transactions each day, the e-gold system is | | | | all e-gold accounts have the same capacity to |
| sure headed for unprecedented growth. E-gold | | | | transmit and receive e-gold funds, and all |
| transactions, often termed as an e-gold | | | | accounts are charged the same fee, which is |
| "spend", are accomplished electronically, | | | | 1% per annum on all e-gold stored in a user's |
| typically via the web interface provided by | | | | account. E-gold is very much out of the usual |
| the e-gold corporation. All transactions are | | | | run of things, since all e-gold transactions |
| settled by weight of the metal. A user may | | | | are non-reversible. Specifically, even in the |
| instantly send (spend) a specific amount of | | | | case of a fraudulent spend or a legitimate |
| gold, be it a gram or an ounce, to another | | | | error, there is no way to reverse the |
| e-gold account. A user may also receive | | | | transaction. Thus e-gold is analogous to a |
| physical delivery of gold upon payment of an | | | | cash transaction, and is quite dissimilar |
| additional fee. The two major reasons behind | | | | from other contemporary payment processors, |
| e-gold's success as a monetary system have | | | | such as PayPal. A striking feature of the |
| much to do with the reliability offered by | | | | e-gold system is that the e-gold corporation |
| gold, one of the rare and precious metals. | | | | does not sell electronic currency directly to |
| Firstly, gold as a means of monetary exchange | | | | the user. This renders the e-gold corporation |
| has a profound history. And secondly, weight | | | | free of any financial risk whatsoever. |
| units have a precise, unwavering, and | | | | However, OmniPay (a sister concern of |
| internationally accepted definition. Paper | | | | e-gold), allows for the exchange of e-gold |
| currency of a nation is typically affected by | | | | account holdings for paper currency and vice |
| its monetary policy. Therefore, paper | | | | versa. E-gold Ltd. claims that it possesses |
| currencies do have certain inherent economic | | | | gold to back the currency in the e-gold |
| risks, such as inflation and devaluation. On | | | | system. Since gold is a tangible commodity, |
| the other hand, e-gold offers greater | | | | it is bound to experience price fluctuations. |
| reliability since it is guarded against such | | | | However, gold prices have seen a steady and |
| economical fluctuations. By possessing e-gold | | | | impressive growth over the past five years, |
| funds, you effectively gain access to bullion | | | | and consequently, the value of e-gold account |
| investing, without being anxious about | | | | holdings has risen over the same period. |
| storage and delivery. With e-gold, you could | | | | There simply is no better time for e-gold |
| buy just about anything that the web offers, | | | | investment than now. |
| provided the merchant accepts e-gold as a | | | | |