E-Gold account: The benefits to account holders in Nigeria.
For a secure online payment for goods and services, e-gold payment system is the preferred option. 100% supported by gold bullions which makes the value stored in your account to be equal to the value of gold or other precious metals. Still contemplating on why you should open an e-gold account? Some of the advantages of e-gold electronic payment system will be highlighted here.
Account opening is convenient
It is quite easy to open an e-gold account. Provision of an international passport is not necessary, neither do you need to open a bank account or fill a very lengthy form. You also do not need to provide sureties. It is therefore easier than credit/debit cards.
Simply visit the e-gold website to open an e-gold account, then click on “Create an account” and enter your details in the form provided and submit. E-gold account can be opened by persons in any country devoid of discriminations as obtainable in some payment systems in which Nigeria and some other countries are excluded for unexplainable reasons. Most countries are therefore supported because e-gold is more secure.
Your true identity can now be revealed freely while shopping on the internet and this is because with e-gold you have no reason falsely claim that you are in the US, Canada or UK just for the sake of shopping online.
Transaction costs are low
E-gold minimizes the effects of currency exchange risks as the money in your account is 100% backed by gold bullions. Spending e-gold has a low transaction cost, lower than credit card rates.
Easy to buy/sell e-gold
There are a number of independent exchange services in Nigeria today that exchange e-gold for cash (Naira). An example can be seen at www.epaymentservice.net. Similar services can be found in other countries. E-gold can also be sold to independent exchange services.
There are channels available if you want to exchange e-gold. Channels like money orders, cash, bank wires, credit/debit cards, PayPal, Western Union etc. And these makes it easy to convert from local currency to e-gold and vice versa.
Shopping with e-gold requires that you fund your account first and this is easy to do. A lot of independent exchange services are available worldwide that can sell e-gold if you would like to buy. The large number of e-gold independent exchangers is one of the reasons that make e-gold global and that is why any e-gold account holder is termed an exchanger.
All you need is one account
One account is all you need which can serve as both your shopping and merchant accounts. You do not need to open a separate merchant account for your business although you can open as many e-gold accounts as you desire.
You can open as many accounts as you desire
Limits are not placed on the number of e-gold accounts one can open. You can open multiple accounts as long as you abide by the terms and conditions of e-gold system for each account.
Minimize the effect of fluctuation in currency
Buying and or receiving e-gold for payment is just like storing up gold beause e-gold is 100% supported by gold bullions. This means that e-gold is an investment and that you can use it as a hedge on currency fluctuation. Go for e-gold if you are looking for a payment system that minimizes the risk of currency exchange.
Payment solution is safe:
Superior technology is employed by e-gold electronic payment system to safeguard your online transactions. To enter a number of information like account numbers, Turing number and paraphrase, transactions require initiators which ensures that spends are activated only by genuine e-gold account holders.
To validate a transaction, an IP address confirmation is also required. This makes e-gold platform a very secure payment system.
Refer others to use e-gold and make money
You can make money by referring others to use e-gold once you open an e-gold account. A link is provided by the e-gold system for you to invite visitors to the e-gold website. A visitor becomes your progeny once the visitor follows your referral link to open an e-gold account. You also receive 10% of the transaction fee once your progeny spends or receives e-gold. Visit e-gold website for more information.
Easy to become a merchant
Account holders have a simple web link provided for them by the e-gold system to paste on their websites. A page will be provided as soon as the visitor clicks on the link. This page is for them to make a secure payment to your e-gold account. Payments can be received online as soon as you open an e-gold account. Easy solutions to receiving payments on the internet are provided by the web link but you need to have a wide range of products and services, and also a shopping cart integrated. You also need to have a more powerful ecommerce application. It is not enough to have a simple link.
In such situation you need to build a shopping cart interface (SCI). The shopping cart interface is based on html forms and enables a merchant to integrate their shopping cart system to e-gold payment system.
Availability of exchange service
You can become an independent e-gold exchanger once you are an e-gold account holder. Account holders can buy e-gold from you in local currency so also can you buy e-gold from account holders in local currency. The price at which you sell or buy e-gold from customers are yours to set.
Exchanging e-gold for currency is an avenue to make money. So also is exchanging currency for e-gold.
To buy or sell e-gold, you can use any payment channel. There are some channels employed by existing independent exchange services. These channels include PayPal, cash, Western Union, money orders, bank wires, credit/debit card etc.
My Final Thoughts
You have read and now know the importance and benefits of e-gold payment system. Visit our website and open an e-gold account. You can also take your time to read about the system. Also endeavor to check out the FAQ page and consumer alert page. There are other pages that may interest you which are listed below.
- What is e-gold
- View current e-metals exchange rates