Investment Opportunities - E-Gold

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What is the thing that comes closest to a world currency – one that is acceptable to almost all people whether they are Canadian, British or Italian by nationality? There seems to be just one thing that passes this stringent acceptability test – Gold. Cashing in on the value and prominence that gold enjoys in today’s society, E-gold Ltd., was started by Nevis Corporation in 1996. In simple terms, E-Gold is an electronic currency that is 100% backed at all times by gold bullion in allocated storage. You can.

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E-Gold is one of the first digital e-currency providers that have made the Internet a borderless world. An account-based payment system, administered by Gold & Silver Reserve Inc allows you to use gold as money. This means you can use your E-gold account to pay specified weights of gold in exchange for goods and services. You can even get the actual gold in your account – you will only have to pay the handling charges. 

The value of this currency is tied directly to the value of gold. So E-Gold prices fluctuate according to the changes in the spot price of gold, and have nothing to do with the value of national currencies. It rules out the chance of outside influences like hackers and cheats. This facility is presently used to make B2B payments, person-to-person payments, e-commerce, and many other enterprises.

So how does it work? Once you fix a deal with another person through your E-Gold account, a third person enters the picture. This person is called a Market Manager, and it is his job to exchange national currencies for e-currencies, and place them in your online currency account. In case you wish to exchange your egold with hard currency, you can just intimate the Market Manager who will pay back the amount in your E-Gold account in your national currency. 

E-Gold makes its money through the storage fees it receives (1 cent a year), and the commissions from paying hard currencies to the customers based on their value of gold.

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