They Call it Gold Instead of Money So I Never Figured it Out

joy99 · 03-14-2007

Hi,
I opened an e-gold account because a friend of mine asked me to send some money through e-gold and not PayPal. I could not get past the first page after registering. I mean, I could not process a payment because I did not understand what they meant by buying gold. I was advised by another friend that it is very confusing at e-gold (that made me feel less a dummy). They went on to tell me that the fees involved are not very attractive. I wouldn't know, because I could NOT figure this payment processor out at all. I don't know how to buy gold. Jeez.

inworx · 03-15-2007

Go to e-gold.com and select buy and sell gold, you'll find many sites where you can get it for low price

smilemaker · 03-22-2007

actually your egold is always backed by gold! so higher the price of gold higher will be your balance, lower the price of gold lower will be your balance!
you guys might have noticed that there's a fluctuation in your balance without sending or recieving payments! thats why they call it gold rather than egold money

clookid · 03-22-2007

I too find eGold very confusing, I would recommend trying to find an exchanger if you wish to buy gold. Most of the time, eGold exchangers require you to buy gold using bank wire.

chandni_aqua · 03-22-2007

i find egold extremely confusing. if i ve to transfer money or carry out any transactions i would anyday go in for Paypal or western union.

VanBasten · 03-22-2007

It's a very simple concept actually, once you grasp it.
Basically, the value of money in your account is tagged to the spot price of gold.
As the price of gold fluctuates, so does the value of your money.
You can always send your money in USD if you don't want to send it in grams of gold.

Dakuipje · 03-22-2007

I can only recommend not to use e-gold.
But sometimes I have to pay someone in e-gold to.

Does anyone know a website where you can exchance paypal money to e-gold ?

VanBasten · 03-22-2007

Quote:

Originally Posted by Dakuipje

I can only recommend not to use e-gold.
But sometimes I have to pay someone in e-gold to.

Does anyone know a website where you can exchance paypal money to e-gold ?

You may want to know that it is against paypal's terms to conduct online currency exchanges.
If found out, you risk getting your paypal account frozen.

Dakuipje · 03-22-2007

Ow ok thanks.
I wont then

dasha101 · 03-25-2007

I think egold concept is great since there are a lot of different currencies in the world. The concept is just like foreign currency exchange. The value really varies. What I don't like about egold is the issue on the security of it. Rumors spread that some of accounts were hacked.

03-14-2007	#1 (permalink)
joy99 Junior Member Join Date: Mar 2007 Location: usa Posts: 11 Rep Power: 0	They Call it Gold Instead of Money So I Never Figured it Out Hi, I opened an e-gold account because a friend of mine asked me to send some money through e-gold and not PayPal. I could not get past the first page after registering. I mean, I could not process a payment because I did not understand what they meant by buying gold. I was advised by another friend that it is very confusing at e-gold (that made me feel less a dummy). They went on to tell me that the fees involved are not very attractive. I wouldn't know, because I could NOT figure this payment processor out at all. I don't know how to buy gold. Jeez. __________________ http://online-prayer.joygoround.com

03-22-2007	#7 (permalink)
Dakuipje Member Join Date: Mar 2007 Posts: 57 Rep Power: 2	I can only recommend not to use e-gold. But sometimes I have to pay someone in e-gold to. Does anyone know a website where you can exchance paypal money to e-gold ? __________________ http://www.pix-hoster.com A Online Imagehost.

03-22-2007	#9 (permalink)
Dakuipje Member Join Date: Mar 2007 Posts: 57 Rep Power: 2	Ow ok thanks. I wont then __________________ http://www.pix-hoster.com A Online Imagehost.

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03-15-2007	#2 (permalink)
inworx Senior Member Join Date: Mar 2007 Posts: 160 Rep Power: 2	Go to e-gold.com and select buy and sell gold, you'll find many sites where you can get it for low price

03-22-2007	#3 (permalink)
smilemaker Member Join Date: Mar 2007 Posts: 43 Rep Power: 0	actually your egold is always backed by gold! so higher the price of gold higher will be your balance, lower the price of gold lower will be your balance! you guys might have noticed that there's a fluctuation in your balance without sending or recieving payments! thats why they call it gold rather than egold money

03-22-2007	#4 (permalink)
clookid Senior Member Join Date: Mar 2007 Posts: 100 Rep Power: 2	I too find eGold very confusing, I would recommend trying to find an exchanger if you wish to buy gold. Most of the time, eGold exchangers require you to buy gold using bank wire.

03-22-2007	#5 (permalink)
chandni_aqua Senior Member Join Date: Mar 2007 Posts: 121 Rep Power: 2	i find egold extremely confusing. if i ve to transfer money or carry out any transactions i would anyday go in for Paypal or western union.

03-22-2007	#6 (permalink)
VanBasten Member Join Date: Mar 2007 Posts: 53 Rep Power: 2	It's a very simple concept actually, once you grasp it. Basically, the value of money in your account is tagged to the spot price of gold. As the price of gold fluctuates, so does the value of your money. You can always send your money in USD if you don't want to send it in grams of gold.

03-25-2007	#10 (permalink)
dasha101 Senior Member Join Date: Feb 2007 Posts: 184 Rep Power: 2	I think egold concept is great since there are a lot of different currencies in the world. The concept is just like foreign currency exchange. The value really varies. What I don't like about egold is the issue on the security of it. Rumors spread that some of accounts were hacked.

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