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More about E-Gold

E-Gold is an electronic banking service that is based in Panama. It is for all intensive purposes an offshore bank account backed by Gold reserves. The big advantage of E-Gold is that it is free to sign up for by any internet user and thus allows for the transfer of funds between internet users. The transfer of funds is a free electronic service provided by the Panaman bank the service operates under.

The E-Gold web page (click HERE) also provides sources of exchange agents from which E-Gold can be bought and deposited into your account. There are many online merchants all over the web that support purchases using E-Gold. It is bought and sold at a higher price than its actual value which has spawned a lot of Gold merchants profiting from these exchanges.

Paypal, the leading e-currency service on the internet, is well known for allegedly cheating its clients and also for voiding accounts that it considers questionable or even adult related. On top of all that Paypal is not truly international as seen on its signup page where many countries are not supported. All these paypal setbacks have allowed the growing of E-Gold as a competitor.

One very common use of E-Gold is to receive payments for controversial services over the net. The E-Gold service highly respects the secrecy of its members and has thus proven a haven for a few controversial service providers. It is also used by people wishing to hide their funds from their spouses or as a tax haven.

E-Gold is also considered an alternative to Paypal. Paypal has a history of defaulting online accounts that do not fall in line with its user agreement. Paypal's latest addition is its announcement that it will not be associated with any adult websites. There have also been rumors that it is distancing itself from the drug paraphernalia businesses. E-Gold does not have these restrictions.

One major disadvantage of E-Gold over Paypal is that E-Gold does not have a built in shopping cart or a built in system to accept credit card deposits. All new E-Gold deposits have to be done through an external exchange service. A good alternative to use in case online shopping cart and credit card integration is required is Stormpay. Stormpay is the new favourite electronic currency system as it values its clients' privacy. Click HERE to sign up with Stormpay for free.