E-gold

E-gold® is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage. E-gold® is always as good as the gold it’s backed with - this year, next year, a thousand years from now. The gold behind the currency is important to users because each digital dollar issued has one dollar or more worth of pure gold backing it in the vault. *Bullion is stored in repositories certified by The London Bullion Market Association (LBMA).

As of November 2005 there are typically 50,000 e-gold ® spends each day, with a total value each day of about six million USD (that is, about 350 kilograms of gold). Because the daily price of precious metals will fluctuate, the DGC issuers can achieve their guarantee of 100% metal backing by denominating the value of all accounts in weight not dollars, euros or yen.
e-gold® is a digital gold currency operated by Gold & Silver Reserve Inc. under e-gold Ltd., and is a system which allows the instant transfer of gold ownership between users. The corporation was founded in 1996 by Dr. Douglas Jackson and Barry K. Downey. There are over two million e-gold accounts presently - a careful review of the statistics page shows about one quarter of those are active. e-gold Ltd. is a Nevis, West Indies company.

e-gold® has grown dramatically through 2005. Firstly, the total amount of gold bars (over three tonnes) in the e-gold® system is approaching the size of the national reserves of smaller countries. Secondly, e-gold® themselves as a business are now generating a substantial income from spend fees: it costs a few cents to make each e-gold® “spend” and e-gold® themselves now earn well over a million USD per annum from spend fees. Thirdly, the use of e-gold® as a currency has reached a non-trivial level, as indicated by the 50,000 spends a day figure.
It could be argued that 2005 was the first year e-gold® has passed novelty status.

Many (at least ten) serious small businesses, in the USA, Europe and Asia, each with staff and real incomes now operate as “exchange providers,” doing nothing other than buying and selling e-gold® for “national currencies,” as gold bugs would style the Euro, Pound, Yen and USD.
As well as digital gold, per se, e-gold® also offer e-silver, e-palladium and e-platinum, but only e-gold® sees any use. The user may take physical delivery of the precious metal upon payment of an additional fee. In practice, most users permit the operator to store the metal. 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. You can spend a tiny amount of gold (a tiny fraction of a gram), or kilograms of gold, to another user instantly.

The present location (for example, a specific vault in Switzerland) of the actual gold bars and their serial numbers and other data can be seen using the live “Examiner” function on the e-gold® web site.

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.

Immediate payment no waiting for checks to clear or credits to be made.
No chargebacks “Get paid, stay paid” unlike credit card payments.
Secure, user friendly access to your account.
Easy shopping cart interface anyone can accept e-gold on their web site.
Low fees lower than credit cards or competing payment services.
Refer accounts and make money using the e-gold Incentive program.
Obtain e-gold® from a network of independent exchange providers.
Exchange provider guidelines start your own exchange business today.
Available Worldwide the world’s first truly global payment option.
System announcements including upgrades, any scheduled downtime, and important events.


E-gold® is always as good as the gold it’s backed with - this year, next year, a thousand years from now. Set Up A New Account Here
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