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