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| 3. e-gold |
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E-gold is a unique system of electronic payments with a rather peculiar functionality, but on the other hand accepted in almost all countries in the world. The e-gold payment system uses gold (and other precious metals) as monetary unit by which transactions are carried out and the the weight of which determines the total value of each transaction. This particular scheme has many good points, but it also has some disadvantages.
Let's see how e-gold can be used by an interent user. Like in most cases of such systems, the first step that needs to be taken is to create a new account. E-gold's procedure, like most systems' we have seen, is relatively quick without frustrating the user. Having created the account, you can then use it to transfer money to and from any country, as long |
as e-gold is listed as an acceptable means of payments by the company you are dealing with. As mentioned earlier, e-gold is a very unique system which presents many good features but which also has some negative points. The good points include the system's high level of reliability and security as well as the fact that the particular system is accepted in almost every country in the world. Another important good feature is that transactions are carried out instantly.
Now, to the negative points, it is almost certain that immediately after you create your account, you will spend plenty of time trying to figure out how you can credit your account with gold which you can then use to make payments or to purchase goods. You will soon find out that e-gold doesn not accept credit/debit cards for this and that the only way to do it is to buy a certain amount of gold and credit your account with it from an independent exchange service (click for a list of independent exchange services). In this procedure besides the commission of the independent exchange service, the current price of buying/selling gold that day comes into play and can be for you, or against you. The procedure we just described may discourage some people from using e-gold, however, the particular system is extremely reliable and fast, factors that in our opinion are good enough to make you overlook the extra effort needed to credit your account by buying gold.
Credit Cards: Depends on the the independent exchange service you will use |
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