e-gold ?

Has anybody heard about e-gold ?
Is it good for merchants ? Should I consider it for my freelancer website ?

 

E-gold is too complicated for most people, even more so consumers. It is mostly used by people in countries not supported by PayPal.

 

There are quite a number of threads about e-gold out there. Yes, I've heard of it but never used it because of what I read about it and also it is just too complicated to use and at times costly and troublesome if you are not doing a lot of transactions.

Check out http://en.wikipedia.org/wiki/Egold

 

Chargebacks not allowed. People really do not use it. Exchanging it for real money can be tough

 

e-gold is great. Never worry about fraudsters charging back again. And we will help you to exchange easily.

 

Is it tough competing with IceGold? They have a really really good reputation and a lot of people trust them.

 

well, there are a lot of exchangers, icegold is just one of them. We are niched toward helping members in online communities. They are more like a regular exchanger working with big amounts and bank wires only, and using their own exchange rates towards gold price that in my opinion is very hard to understand. It's not an option to buy or sell through icegold if you for instance only need to exchange $100. The bank wire fees would eat up most of the transaction.

 

eGold is good, its the only way I can fill up my gCard instantly with

IT

 

Well, actually that works both ways. On a negative site, if I use e-gold to pay someone for something and never get what I've purchased for, I cannot ask for the transaction to be reversed and the fraudsters can get away with my money and as a customer, I have no recourse. It would seems that it protects the fraudster in that case.

I also find that conversion fees from e-gold to other more acceptable transactions to be high, some going for between 20 to 25% commission and the idea of having to go through exchanger does makes it complicating. Besides I know nothing about these exchangers, they could be a front for fraud too. Where did the exchangers have so much e-gold to exchange from ? How did they get the e-gold balance in the beginning if they are not approved by e-gold itself ?

 

Homepage of egold is http://e-gold.com . U could to visit and read more about it.

*p/s: If u want to buy egold. PM me .

 

You would not believe how much money we have lost due to paypal chargebacks. Fraudsters ordering hosting or servers with stolen credit cards, or stolen paypal accounts. Besides, Paypal has the most unfriendly and unjust rules that benefit only them. E-gold on other hand has no such. It seems to me you are blaiming e-gold for what you should do as buyer, check up the seller before buying. The rule is simple. Same rule applies when you buy something with cash. If you don't trust the seller, if you have not checked his background, talked to others who recommend them etc. then don't buy.

Most of the critics against e-gold is the ponzi scheme websites that promise double the money in a day or two. Well, if people wouldn't let their greed ovecome their common sense, would easily see fraud is spelled all over those sites

Here is another thing that e-gold is accused of unjustly. Why the commision fees? Well, because paypal is so unreliable and so unsecure, and e-gold is so reliable that when exchanging to e-gold no-one would simply like to take the risk of losing his money by accepting paypal for nothing. In fact paypal is so scared of currencies like e-gold that they forbid e-gold on ebay, they don't allow public exchanges on websites etc. In fact if you have other hard currency money (like webmoney, moneybookers etc) the commision is not so high at all. Beside e-golds receive fees for merchants are nothing compared to paypals.

To know how to start an exchanger service, simply just read e-gold faq. And there is an accredition institute called gdca that accredits e-gold merchants and exchangers. so simply goto www.gdcaonline.org to find them. you will find finexe there as well. and never trust unlisted exchangers.

 

I have to disagree on both points.

I classify myself as a very cautious online shopper. If I don't know whom I'm purchasing from, I check various sources including Googling for feedback, SSL cert registration lookup, domain registration lookup, etc. Even with all my checks, I have been scammed twice by unscrupulous website owners. Both times I was able to issue chargebacks because I used a credit card. If I used something like egold, I would have been screwed. As a shopper, I will not use any form of payment that does not have adequate safeguards for me. Also, I am not interested in, and do not order from get rich quick sites. I would bet dollars to doughnuts that I use more common sense when I order online than most shoppers so implying that only idiots can be scammed is incorrect.

As to the 20-25% commission justification - huh? Even if I believe all the doom & gloom about chargebacks using other forms of payment, I as a merchant, could accept up to an 18-23% chargeback rate and still have a better profit margin. Also, if you are seeing an 18-23% chargeback rate, then you as a merchant and website owner are doing something wrong! There is no way anyone can justify a commission structure like that unless your target is to scam the scammer.

 

e-gold is very useful and big payment system. i have been use from 3 years.

Regards,
Mustafa

 

e-gold is very secure for me I have been usin them 2 years. I accept moneybookers in exchange if you need e-gold

 

e-gold is great i have account of there is good!!!

 

I am e-gold fan too

 

I don't know anyone taking that high commision. I don't know where eddy got that rate from.

And yes I disagree with you, imo don't buy from unknown websites. Period. And if you do, blame yourself. Paypal is no police, and them taking upon themselves to judge which transactions to reverse and which not is error prone and in the end it gets just arbitrary. The loss you do if you take paypal without calling up every customer who pays with it and check them rigorously is far greater than your profit. At least if you have humane prices. that's my experience.

 

Well, I may be wrong but http://www.exchange-on-line.com/paypalen.html has it for 25%

And I took a look at your thread for Paypal/Egold exchange http://forums.digitalpoint.com/showthread.php?t=113839

Oops, I just read that it is 15% + $5 for first time.

So it does seems that the exchange rates are pretty high for paypal to e-gold.

 

eddy, google "exchange-on-line.com" and see the complaints:

http://groups.msn.com/DoNotSpend/general.msnw?action=get_message&mview=1&ID_Message=5602
http://talkgold.com/forum/printthread.php?t=12034

Since e-gold is a hard currency, best way of buying it is with another hard currency, like moneybookers, webmoney, or cash and then the exchange rate is not high at all.

The exchange rates from paypal just shows there is a problem with paypal. Ask yourself why people would even want to exchange paypal to anything else? it's because they can't withdraw their money. The problem with paypal is really unrelated to e-gold.

 

That is both the blessing and the curse of the Internet and ecommerce. You can find almost anything quickly but sometimes your choice is to not buy something at all or buy from someone you may have never heard of. Most of the time I would agree with you, don't buy.

I understand your reference to Paypal based on the responses of others, but I never meant to imply that I use Paypal or that PP is better in any way than eGold. As far as I am concerned, they are both in the same boat -- I will not use either of them. I only purchase through website that use traditional "real merchant accounts" so my chargeback rights are available to me. Paypal has a lengthy usage license that, in effect, voids my chargeback right and, like you said, makes them the police, judge & jury which I do not trust. In effect, eGold does the same thing, they are the police, judge & jury, the only difference is that there is no guess work in their verdict, they will rule in the favor of one who has the money.

As a merchant, I do see the advantage of eGold provided that the commission rate is reasonable (3% range would be reasonable to me, 10%+ would not, somewhere in the middle would be debatable depending on what I'm peddling and to who). Again, if they are reasonable, I would offer them as a form of payment but they would not be my only form; I would also take CC's through a traditional merchant account because I know that many shopping carts would be abandoned if eGold was the only option. Paypal, as a merchant, I would never accept because of the PP policing factor and the abundance of horror stories about frozen accounts and funds.