Why people don't use E-gold?

You can't do that..

 

I don't know why people don't use E-Gold but for myself, I went to E-Gold site about 2 years ago and saw a lot of unrelated procedure such as "buy some gold" then "sell them" and these stupid things.

I just wanted to put money there and spend it, I didn't want to by gold and sell gold or e-gold or whatever.

 

Well, their business model is based on "selling metal", that's where the website name is coming from.
I would not use it much as a payment processor unless forced to, it does not qualify for that purpose. Not to me.

 

At least there money is back up with real gold, what is PP currency backed up with??? Just some scripts and numbers...

 

Backing by gold does not really mean a thing as if e-gold decides to fold, they will most likely take the gold or liquidate them along the way.

Paypal is backed by real cash in the bank and not scripts and numbers. You see the money in your account and when you need it you can do a straightforward withdrawal.

 

Well we don't use E-gold because we don't trust on E-gold. PayPal give better features than E-gold. Many scammer used E-gold to take money from us.

 

Ultimately, there are a couple of factors.

First off, from day 1, egold wanted to be an middle man and not a direct provider. While it's a great plan, they should have started with offering egold directly.

Second, it's not a US company, at least anymore because of their legal challenges.

Finally, fraud is out of hand with egold as there are no legal requirements for egold to work with clients to get their money back.

 

E-gold's +

# Easy to withdraw with any debit card. Many debit card providers offers instant withdraw with e-gold

# Can be opened in minutes from any country.

# No chargebacks.

# 3. Party exchangers. So there is a sector. Exchangers works hard to be better on this sector. So you don't need to wait the MAIN COMPANY to get your money.

# Lower fees.

# High level Automation features.

E-gold's -

# Having problems to find a local exchanger. If you use any international exchanger thats may cause the high fees.

# It's %100 backed by Gold. So you will be an investor as automatic. when you use e-gold. That's not good..


E-gold is good for sellers and paypal is good for buyers.

With e-gold: Buyers in risk. (Example: if you buy any service from seller and if he don't give his offered service then you can't get your money back.)

With Paypal: Sellers in risk. (Example: You sell a domain with paypal and after you transfered the domain buyer can open a dispute and get his money back(Experienced))

I hope that's enough.

 

I have an e-Gold account, however I have no idea how to fund it o how much a eCoin? worth

That is why I've never have used it, not to mention its relatively recent association with fraudulent HYIP and similar schemes

 

You can fund or withdraw your money via 3rd exchangers.

Here some trusted exchangers:

Buy e-gold with $,EUR,£

www.icegold.com
www.londongoldexchange.com

Thanks.

 

PP is backed up with our own money.

why should we need gold to back our money? Isn't money better?

 

You mean e-gold is backed up with Electronic Gold, electronic ounces and gramms

 

Egold seems like too much of a hassle really. Having to buy their currency, etc.

 

Some have mentioned egold is suitable for online investors.
I guess that is what places it appart, and removes from the real payment processors list where Paypal belongs..

 

coz paypal is not available in most of countries.

 

One of the reasons is you need to use a 3rd party service to cashout.
Also, I am not certain if egold is legal in India.

 

Funny why are two people in this thread banned?