Getting an Ecurrency Account
July 18, 2005
- What is an e-currency?
E-currencies or electronic currencies are monetary units used to purchase products or invest online. They are no different from actual cash except that they are "virtual."
There are various types of e-currencies available but those commonly used are E-gold, Paypal, E-bullion, and iKobo. Each one is different so visit each site to learn more about them.
The most commonly used e-currency in online investing is e-gold. It is based on actual gold which makes its value variable anytime. For more details about e-gold or to sign up for a free acount, click here.
- How do I open an account?
Sign up for free in each of the e-currency's website using the links above. Click here for a video tutorial on how to sign up in egold.
- How do I fund my e-currency account?
Most of the time you will need to transact with an e-currency trader as you cannot fund your account directly with the payment processor. You can fund your accounts via credit card, bank wire or money transfer, or cash deposit in local banks.
Some of the reputable and popularly used e-currency traders are:
- www.pinoygoldexchange.net
- www.londongoldexchange.com
- www.thegoldshop.biz
- www.icegold.com
- www.goldex.net
- www.omnipay.com
- www.thebullionexchange.com
Visit each site to know the fees they charge and the process you have to follow to buy e-currencies from them.
For Filipinos or those residing in the Philippines, a recommended exchanger is PinoyGoldeXchange (PGX), a Pinoy-based ecurrency exchanger managed by Filipinos with investors coming from Pinoy Money Talk.
Discuss and find out more about these and other traders in the Payment Processor/E-currency Discussion folder of the PMT Forum.
- I have funds in my e-currency account and I want to exchange it to cash. How do I do it?
Same thing, you will need to transact with an e-currency trader. For a certain fee, they will exchange your e-currency funds to cash which they will send directly to your local bank account. Visit each trader's site for more details.
- This looks pretty complicated to me. Is there an easy way to fund my account and/or exchange my funds for cash?
An easier alternative is to find a person to trade e-currencies with. This way, you can save on transaction charges and if you personally know who you're dealing with, then your funds are safe.
The primary risk here, though, is in finding that person you can trust. You can do ecurrency trades with trusted PMT members. Just visit the I'm Buying/Selling E-Currencies folder in the forum.
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October 13th, 2006 at 8:43 am
[...] Stormpay is an online payment processor run by Stormpay Incorporated, a Clarksville, Tennessee, United States company founded in October 2002. Together with e-Gold, Stormpay was largely used as the currency of choice for most High Yield Investment Programs (HYIP), autosurf, paid to read, and other similar programs. [...]
December 20th, 2006 at 2:41 am
[...] Is it the end for scammers, money launderers, terrorists, child pornographers, and credit card thieves now that E-gold announced they are cooperating with the authorities in hunting down these scumbugs? E-gold's announcement was published in an article posted in Wired.com: The founder of PayPal competitor e-gold has grown tired of the government characterizing his business as a haven for money launderers, terrorists, child pornographers and credit card thieves. [...]
December 31st, 2006 at 7:13 am
[...] I came into the HYIP arena at the height of popularity of programs such as Golden-Nestegg, Empowerism, YMMSS, SportsPointer, and PIPS, among others. Most of these programs accept only egold, and because I wanted to start immediately, I looked for ways to fund my account the quickest method possible. I dropped by the HYIPDiscussion (HYIPD) forum to ask how to fund my egold account via credit card. Due to exorbitant fees (usually 10%) when funding egold using a credit card, I ended up using LondonGoldExchange instead. [...]
March 4th, 2007 at 9:34 pm
GOLDXCASH.COM ….. SCAMMED SITE FOR EGOLD EXCHANGE.
I WAS SCAMMED $2000 LATELY.(a russian site registered site)
Web Site Title: GoldxCash.com - Welcome to Worldwide E-currency Exchange scam site. Sell, Buy or Exchange e-gold 24/7. Buy e-gold Sell e-gold E-gold exchange E-currency exchange 24/7. E-gold to PayPal Exchange, E-gold
Meta Description: Buy E-gold, Sell e-gold and Exchange e-gold, e-gold to PayPal exchange, E-bullion, Pecunix, StormPay, MoneyBookers, GoldMoney. Buy e-gold with credit card quickly and safely online with ease. Our services are efficient,
Meta Keywords: e-gold, buy e-gold, buy e-gold with credit card, paypal to e-gold, e-gold account, e-gold investment, e-gold exchange, paypal to e-gold exchange, e-gold credit card, buy e-gold with paypal, e-gold to paypal exchange, e-currency exchange, buy e gold with c
Whois Record
IP Information 85.249.135.11
Record Type: IP Address
IP Location: Russian Federation Russian Federation - Net Of National Telecommunications Ltd Hosting Service Provider Which Provides Shared
Reverse DNS: srv011.infobox.ru
Blacklist Status: Clear
Whois Record
inetnum: 85.249.128.0 - 85.249.143.255
netname: DATAPOINT-NET1
descr: Net of national telecommunications Ltd, hosting service provider, which provides shared
country: RU
admin-c: INTV-RIPE
tech-c: RN-RIPE
status: ASSIGNED PA
mnt-by: ELTEL-RIPE-MNT
source: RIPE # Filtered
person: Vladimir E Kuznetsov
address: 29, Viborgskaya nab.,
address: 198215 Saint Petersburg, Russia
phone: 7 812 3232323
fax-no: 7 812 3232323
e-mail: Whois Privacy and Spam Prevention by DomainTools.com
e-mail: Whois Privacy and Spam Prevention by DomainTools.com
nic-hdl: INTV-RIPE
mnt-by: INFOBOX-MNT
source: RIPE # Filtered
person: Rustam A Narmanov
address: 29, Viborgskaya nab.,
address: 198215 Saint Petersburg, Russia
phone: 7 812 3232323
fax-no: 7 812 3232323
e-mail: Whois Privacy and Spam Prevention by DomainTools.com
nic-hdl: RN-RIPE
mnt-by: INFOBOX-MNT
source: RIPE # Filtered
March 4th, 2007 at 10:08 pm
Do you have further proofs of this? People would more likely believe your accusation if you can give enough evidence of the alleged scamming incident.
March 30th, 2007 at 3:13 am
[...] payment currency e-gold now wants users to add the appropriate Country to the Point of Contact [...]