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E-gold is an electronic currency, issued by e-gold Ltd., a Nevis offshore corporation, 100% backed at all times by gold bullion in allocated storage.
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.
E-gold is always as good as the gold it's backed with - this year, next year, a thousand years from now.
E-gold is Trustworthy
Pursuant to the e-gold Account User Agreement, the physical bullion that comprises the value backing e-gold must be insulated from physical, legal and political risks. Title is held by The e-gold Bullion Reserve Special Purpose Trust that exists for the express purpose of holding bullion for the exclusive benefit of all e-gold account holders collectively. The bullion is held in the form of certified good delivery bars in allocated storage at repositories certified by the London Bullion Market Association (LBMA). Metal is held free of any lien or encumbrance whatsoever and explicitly may not be attached to any liabilities of e-gold Ltd. or any other entity. No metal may be removed from storage or any other disposition made without the signatures of both e-gold Ltd. and a third party Escrow Agent of good reputation.
Transfer Money Worldwide
The world-wide web needs world-wide money. e-gold was created in response to this need.
e-gold is accounted by weight of metal, not US$ or any other national currency unit. 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 eight major national currencies (as of this writing). For example, it's possible to:
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Spend 10 troy oz worth of e-gold
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Spend 5.3 grams worth of e-gold
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Spend US $100.00 worth of e-gold
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Spend CHF 685.88 worth of e-gold
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.
The Power Of The e-gold Spend
All financial value will migrate to cyberspace over the next few years. e-gold is ready so that you can be too.
e-gold is borderless
e-gold may be spent to any other e-gold account anywhere in the world via the e-gold shopping cart interface (SCI), the e-gold Account Manager , or web enabled mobile phone .
e-gold is quick
e-gold payments clear instantaneously (with no chargeback risk), no matter how large the payment, no matter how far apart the spender and recipient.
e-gold is cost effective
- Spending e-gold is free , even if your recipient is on the other side of the world.
- Recipient transaction-fees are substantially smaller than those of credit cards and offshore bank wire-transfers; no matter how large (or small) the payment.
- The e-gold Agio fee, which recovers bullion storage costs, passes on economies of scale normally only enjoyed by very large holders of bullion.
Benefits All Users Of Money
The target market for e-gold is simply people who use money. How do you presently use money? Chances are any of these activities would benefit from the increased soundness, security, efficiency, and lower cost of e-gold. Here are some examples of how e-gold is presently used:
- e-commerce
- Business-to-business payments
- Point of service sales
- Person-to-person payments
- Payroll
- Bill payments
- Charitable donations
- Monetary base of the AUG* economy
* AUG is an abbreviation for the currency unit "grams of gold".
Evolving Exchange Market
The e-gold system is absolutely free from 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 whatsoever and has no bank accounts. Thus, e-gold Ltd. doesn't offer currency exchange services. Instead, a growing number of independent exchange services around the world support exchange between national currencies and e-gold, accepting various remittance methods, including credit cards, bank wires, cheques, and money orders.
How To Open an E-gold Account
It 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 minutes away from opening your first e-gold account at:
How To Fund Your E-gold Account
For those with large amounts of cash, experience has shown that the London Gold Exchange is the best company to use in order to credit your e-gold account. They accept e-gold credits by cash deposited to almost any UK high street bank, or by bank transfer.
With low fees and fast completion, this is certainly the best option for UK residents. Outside the UK, you can pay by international bank transfer.
E-gold Questions
If you have any queries regarding e-gold accounts, please contact e-gold direct. If you have a general question regarding e-gold or how to fund it from your country, please feel free to contact us and one of our staff will talk you through the process.
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