WHAT IS EGOLD?? e-gold is a digital gold currency. It is issued by e-gold Ltd., a Nevis Corporation. It was established way back in 1996. This electronic currency is backed ounce for ounce by actual gold bullion. This system of online payment allows the transfer of money between e-gold account holders. Acco4rding to recent estimates, there are approximately 2.4 million e-gold account holders at present.
You will find that e-gold Ltd. offers a variety of e-metals. So, there is e-silver, 100% backed by silver, e-platinum, 100% backed by platinum, and e-palladium, 100% backed by palladium. But without doubt e-gold beats all these metal currencies hands down. e-gold is has been integrated into an account based payment system. What this means is that an e-gold account holder can use gold as money. To be more precise, with e-gold system, you can transfer desired weights of gold to other e-gold accounts. What is more interesting to note is that in reality only the ownership changes.
The gold in the treasury vaults remains there itself. What should be understood though, is that e-gold is in no way connected to banking. When you use an online system that utilizes a currency based online exchange system, you are considered to be engaged into banking transactions and as such you come under the jurisdiction of federal laws regarding banking. But when you exchange e-gold, you are just exchanging the actual ownership of the gold and nothing else and that is why you are in no way engaged in banking and consequently donâ