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E-Currencies Today

Posted by Admin on Dec,22,2009 01:04

E-Currencies also known as Payment Processors are a digital currency that you can use on the internet to buy and sell goods, services and other things. It is exactly the same as normal money, but in a digital form. That is why there is an E before currency which stands for Electronic Currency. There are two types of e-currencies, one of which is backed by precious metals such as gold, silver or platinum etc; some examples of this type of e-currency are E-gold, E-bullion and E-silver etc. Another type is backed by hard currency an example of this type is Paypal, Alertpay and Strictpay etc. Why do people use electronic currencies such as e-gold, liberty reserve, alertpay and others for investments and why is it so popular nowadays? The answer is obvious, electronic money is easy to use and to transfer. It is easy to manipulate by investors and administrators of HYIP programs to direct it to the most perspective direction. Thus electronic money is widely spread in the Internet. Thus it is easy enough to transfer money from one system to another by the use of E-currency exchangers. And one more advantage of some E-currencies is the anonymity that they provide over any other currency because all you are is a number. You don't have to provide any contact details if you don't want. Depositing and Withdrawing funds from your e-currency accounts has variable ways and variable rates depending on the Payment Processor you are using. Transaction fees vary from 1% to 3.9% and on some e-currencies they charge an additional $0.25 - $0.59. Depositing funds to your e-currency of choice can be done through bank wire, e-check, direct deposit, credit cards or the most popular is through E-currency Exchangers. Withdrawing them is pretty much the same as funding your account. But the most efficient is through the use of exchangers. You might be wondering what this E-currency Exchangers are? They are merchants who offer their services to either add money or withdraw your e-currency account funds and others do exchange between e-currencies. They also offer variable fees when withdrawing, depositing or exchanging funds. Some offer up to 25% fees. But be careful when choosing your E-currency Exchanger as there are a lot of fake websites that offer such exchanges but are not reliable. For list of certified exchangers please look at your E-currencies list of merchants as they provide their own list of certified exchangers. Now do you think it is safe to use these E-currencies? Well it really depends on how you use and how you protect your account. These E-currencies have their own security protection but its how you use your account that gives more protection to your funds. Though there are Good and Bad E-currencies and I need not explain further on this  kinds of E-currencies, here is just a simple explanation and information about these kinds of E-currencies; Good E-currencies are those who are registered and are backed by real companies and those Bad E-currencies are those of which were made to just scam people. Here are some lists of the most Popular E-currencies which is widely used on the Internet these days especially on HYIPs and Autosurfs: Alertpay – is an internet payment service allowing you to securely and quickly send and receive money online. Though its fees are not that good it’s still one of the most used. Liberty Reserve - is an account-based payment system where you can store value in U.S. dollars and transfer payments to others and receive payments from others. It is safe, reliable and confidential. Payments are irrevocable (meaning they cannot be reversed). Liberty Reserve is instant, real-time currency for international commerce. In just minutes, you can send and receive payments from anyone, anywhere on the globe! This is what I call the anonymous processor. Paypal - is an e-commerce business allowing payments and money transfers to be made through the Internet. PayPal serves as an electronic alternative to traditional paper methods such as checks and money orders. It is the most commonly used all over the world. Perfect Money - is a leading financial service allowing the users to make instant payments and to make money transfers securely throughout the Internet opening unique opportunities to Internet users and owners of the Internet businesses. Almost the same as Liberty Reserves anonymity. SolidTrustPay - is one of the most used e-currencies. It uses a USD unit. It works under a secure password login system. A great number of online HYIP's and Autosurfs take Solid Trust Pay as a form of payment. The number of user is growing a lot. StrictPay - which is located in Panama, was founded in 2007, and open to the public in January 2008. Still a new e-currency but one of the most secure payment processor and they require account verification before they can be used. E-gold – currently useless to date, but was once a very popular e-currency. Some info about e-gold read below. The most popular e-currency service is e-gold, operated by Gold & Silver Reserve, a Florida-based company owned by Mr. Douglas Jackson. Operational since 1996, has users in over 165 countries and has settled over 45 million payments. There is over $30 million worth of e-gold in circulation supporting an annual transaction volume exceeding $1 billion (USD-equivalent)[taken from E-gold website]. About half of the e-gold system's physical reserves are located in Dubai, apparently for financial reasons, but also to help in the marketing of e-dinar, which was launched in September 2000. The latest news about e-gold, which is having Customer Verification and State Licensing, is being pushed through by the US Government. As of now e-gold exchangers have stopped trading e-gold.   You are not logged in or your account is not activated. Only registered users can post comments or add ratings. [   Return to Blog Homepage   |   Return to Main Index   ]