Please explain to me What exactly is e-Gold? Why do people prefer it over PayPal? Advantage & Disadvantages of e-Gold? How exactly do you trade e-Gold for PayPal? Do you recommend that I run a e-Gold-PayPal trade business? Why ? Why not? Give me an example on that? What do you need to get an e-Gold account? What are the rules for trading e-Gold for PayPal? and any general things you can think off $3 Tip to the Best Answers!!
E gold is a payment based on gold. All paymenst are made in increments of gold. You have the rights to the gold and the price of the gold goes up and down daily. Egold is favored by alot of people because once you make payment you can not get money back. Alot of people used to keyword log you and steal your egold. They could have made it harder for people to do it but allowed this for long time and still might have problem with it. I would NOT send egold to site that says it will send paypal. I would sell egold at one of the companies listed on e gold site and get check then add to bank and get paypal that way. Every time you use egold someone gets a percent. When you buy or sell it someone makes money and you have less money.
please be aware that payment trough paypal can be reversable.. i have been cheated by some DP members when i tried to sell my egold to them they do send payment through patypal but later within 24 hours they reclaim the money that they paid you through paypal .. and i do receive 100usd and lost paypal money 100usd for this transaction
malaysianaa, Sorry to hear that. What do you do in these cases? What is the best way to insure this doesn't happen and to avoid scams like that?
9. What are the rules for trading e-Gold for PayPal? Actually. trading is against paypal's policy. If you do decide to start a trading business be careful, you could lose your PayPal account. Also, if you get scammed from sending funds via paypal..good luck getting those funds back. hope this helps!
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. e-gold Ltd. is incorporated in Nevis, Lesser Antilles. Why do prefer egold - because its a measure of gold and its like you don't loose money if dollar rates come down as it all depend on gold prices rather than individual company's currency. According to the company's website, as of April 2007, e-gold had 112,188 oz (3,489,436 grams) of gold and 138,567 oz (4,309,923 grams) of silver in storage, which is worth approximately US$86 million [1]. There are typically 66,000 e-gold spends each day totalling 15,000 oz (460 kilograms), which is about US$10.5 million. There are over three million e-gold accounts of which about one quarter are active Unlike fractional-reserve banking, e-gold holds 100% of clients' funds in reserves with a store of value. Proponents of the e-gold system contend that e-gold deposits are protected against inflation, devaluation and other possible economic risks inherent in fiat currencies. These risks include the monetary policy of countries or territories, which are perceived by proponents to be harmful to the value of paper currency. The repository of the actual bullion bars with serial numbers and other data can be seen using the live "Examiner" function on the e-gold web site. Bullion is held in allocated storage with Brink's Global Services (part of The Brink's Company), Transguard Security Services (part of The Emirates Group) or MAT Securitas Express AG (part of the VIA MAT Group). Clients hold an unallocated share of this allocated bullion. The user may take physical delivery of the precious metal upon payment of an additional fee, and provided the user has an available balance of at least the weight of the smallest individual item displayed in the Examiner. This is currently a 32 troy ounce gold bar, which is worth approximately $20,000. However in practice, most users permit the company to store the metal for them. paypal also has a bad hostory of shutting down people's account with no valid reasons given e-gold charges an account fee (or Agio Fee) of 1% per annum (deducted in monthly payments) on all e-metal stored. Spending e-gold is free, with processing fees (or Spend Fees) deducted from the recipient. As of 2007 these spend fees vary on a sliding scale from about 5% for spending 0.1 grams of gold to 1% for 5 grams of gold. Over 5 grams of gold, the fee is capped at 0.05 grams of gold (about $1.12 with gold at US$700 per ounce). e-gold spends clear instantly, in contrast to cheques or credit card transactions. Unlike other online payment systems such as PayPal, there are no distinctions between merchant and non-merchant e-gold accounts. Cons and crimes where possible egold is involved : e-gold has been perceived as the medium of choice for many online con-artists, with pyramid schemes and High Yield Investment Programs ("HYIPs") commonplace. This has been blamed on e-gold's policy of irreversible transactions. However, e-gold is now blocking accounts where fraud is proven or suspected Opening an account at www.e-gold.com takes only a few clicks of a mouse. Customers can use a false name if they like because no one checks. With a credit card or wire transfer, a user buys units of e-gold. Those units can then be transferred with a few more clicks to anyone else with an e-gold account. For the recipient, cashing out — changing e-gold back to regular money — is just as convenient and often just as anonymous. A complete directory for ecurrency exchanger http://www.ecurrencylinks.com/category/exchangers-of-e-currencies.htm There are also many individual in the forum which provides these exchanges but many have been reported as scam Scope for egold paypal transfer business : first of all let me tell you there is a lot of competition many sites like this do it http://www.evergreen-cards.com/finance.html if you want to know about any individual doing it and their rates here it is http://www.talkgold.com/forum/r92398-.html the forum as a whole is also helpful use this link to create egold account https://www.e-gold.com/newacct/ paypal actually freezes accout if they think an exchange is going on heres a directory where you will find more egold to paypal sort of sites http://www.goldexchangedir.com/ egold fees The Agio Fee is the e-gold system equivalent of an account maintenance fee. It is deducted in monthly installments, calculated based on average daily balance since last assessed. e-gold 1% per annum e-silver 1% per annum e-platinum 1% per annum e-palladium 1% per annum you could even create more than 1 e gold account but you need to keep your information valid and current as for business part i would say first there is a lot of competition, the industry has scammers and if you want to do the business don't keep much money in your paypal account(trading currency is not allowed in paypal), it could get freeze any time. source : my knowledge, wiki, egold, google and some other too. if you need anymore information tell me
E-gold offers 100% protection for the seller and 0% protection for the customer. Basically, a customer can send money to the seller and the seller can go away scotch-free without fulfilling their side of the bargain. In this case, if you are a customer, you need to be careful. There are people who do e-gold to Paypal conversion or request for such but the one sending the e-gold funds would be at a disadvantage. Usually this scam get started by people who may even promise sending Paypal funds first before you send them your e-gold. Once they secure the e-gold, they will launch a dispute with Paypal for the transfer and they will get their money back and you will lose your money in paypal and your e-gold funds. Once that happens, you cannot do anything about it. Based on Paypal's Policy, such exchanges are against their TOS in any case.