E-gold was established in 1996. It is an electronic currency which is backed ounce for ounce by actual gold bullion. It is not connected to the banking system in any way. E-gold.com themselves cannot convert cash into gold or visa versa. Instead there and dozens of independent exchange services who will change your cash into gold or your gold into cash. We refer to these services as gold brokers.Advantages:Anyone can open a free e-gold account with no restrictions (Geographic, age, status etc.).You can have more than one e-gold account.It takes 5 minutes to open your account and another 5 minutes to set up a single item shopping cart.You can fund your account with a credit card, debit card, bank wire, bank draft, cash, electronic banking, Western Union, etc. etc. - the options are growing all the time.Transferring money from account to account is easy, secure and almost instant.To all intents and purposes an e-gold account is an instant offshore account.There is no such thing as a chargeback - once money has been transferred to your account that's it.Spending e-gold is free. Vendor transaction fees are very very low compared to credit card fees. It is only 1% subject to a maximum of 50 cents (USD) per transaction. There is an annual Agio fee of 1% on your average monthly balance. This is deducted in monthly installments.Overall it is a great way to anonymously pass money from one individual to another individual / organisation.Redeeming your e-gold is easy. You just get a cheque (check) posted to whatever name you want at whatever address you want. Have it transferred straight in to your UK account at no cost. You can also cash in your e-gold with various anonymous ATM cards.Disadvantages:The only drawback with e-gold is that funding your e-gold account not instant. The first time you fund your account with a credit card there will be a delay while your card is verified. This could be anything from a few hours to a day and might only involve a phone call to you. The next time will be much quicker as your credit card would be verified.Only some gold brokers will accept personal cheques (checks) and credit cards.The fee charged for using a credit card can seem to be quite high. Goldex charge 10% which is the best rate we have found. The discount offered by some vendors for using e-gold usually cover the charge.Funding your account anonymously can take anything from a day to 2 weeks depending on the method you use. Just go to any bank and hand over your cash. You can then have it wired to your gold broker or post a bank draft to them. This is also the cheapest way to fund your account.
Open an E-gold account:https://www.e-gold.com/newacct/newaccount.asp?cid=2873967