E-currency is a wonderful way to buy and sell things online. Some E-currency services allow you to use your E-currency offline, while others remain strictly online. Determining the best E-Currency for your situation is a relatively simple process, and its one that’s based on your particular situation and your unique needs.
To determine the best E-currency, you should start by identifying your needs. Do you want to be able to use your E-currency at any website? Or are you looking for E-currency that you can use for a single purpose? If you want to use E-currency for investing, you probably need a different product than if you want to use E-currency to purchase online auction items.
Next, you need to know what’s out there. There are a number of E-currency services to choose from, including E-Gold, PayPal, AlertPay and others. Spend some time investigating each of these services and match their features to your needs.
PayPal is, for many people, the best E-currency. PayPal started out simply as a way for consumers to pay for their online auctions, most notably on the auction site Ebay. Over time, however, PayPal has evolved into a much more robust E-currency solution. Paypal relies on an email address as your account number. You can fund your PayPal account through several means, including credit cards or traditional bank accounts such as a savings or checking account.
E-gold is a similar E-currency service. While many websites that are willing to accept PayPal will also accept E-gold, its use isn’t especially widespread yet. Like PayPal, there is no fee to sign up for an E-gold account. However, unlike PayPal, there are a number of significant restrictions as to how exactly you get your funds into E-gold.
Some services, like E-gold, are actually based on a real-world commodity. The value of your E-gold can rise and fall with the market. In contrast, a service like PayPal is backed by traditional currency.
Many of the best E-currency services allow you to send money via a mobile phone. If you have data services on your phone, for example, you can send PayPal payments from your cell phone. E-gold also has a similar feature.
If you need an E-currency service that also allows you to use your money for offline transactions, you might lean toward PayPal. There is a debit card available for certain types of PayPal accounts that will allow you to directly access your funds via a card that you can swipe at a register, just like a debit card that is attached to a checking account.
Ultimately, determining the best E-currency solution is very individualized. Knowing your own needs, investigating the options and choosing the service that most matches your needs will let you determine which E-currency solution is best for you.
Buying E-Gold with a credit or debit card
E-gold is one of the most interesting E-currencies available on the market today. E-gold is in many ways a favored currency, for a variety of reasons. The fact that your E-gold is linked to real-world gold instead of traditional paper currency is an attractive option for many people. Buying E-gold with a credit or debit card is just one of the ways that you can put your money into an E-currency investment that can respond directly to the gold commodities market.
Overall, gold investments tend to rise over time. Having said that, if you buy E-gold with a credit or debit card today, the price could very well drop tomorrow. Gold rises overall, but there are times when it drops and times when it rises.
One thing to keep in mind when buying E-gold with a credit or debit card is the initial cost of the transaction. If you’re using a credit card, you’ll usually have a certain rate of interest you have to pay. This may come in addition to a fee, such as a cash advance fee, that the bank issuing your credit card might charge when you buy E-gold with your credit card. Those fees directly reduce the amount of money that you will make on your E-gold investment.
Over time, the interest you pay on your credit card can add up quite quickly. If you use your credit card for an E-gold purchase and don’t pay it off right away, chances are you’re looking at about a 20% annual percentage rate of interest on the money you used to buy the E-gold. While your E-gold investment may rise in value, odds are that it’s not going to rise 20% in a single year. In this situation, you actually wind up losing money.
Using a debit card to purchase E-gold may be a safer idea, in terms of the return on your investment. Debit cards typically don’t have the same sort of transaction fees, and don’t carry interest charges as the funds come directly from a draft account at your bank.
The biggest issue, however, with buying E-gold with a credit or debit card is that many currency market brokers won’t take a credit card or a debit card in the purchase of E-gold. You’ll need to use a cashier’s check or a wire transfer to purchase the E-gold instead. What this means is that you need to find a way to first convert your transaction from your credit card to cash, and then from cash to a cashier’s check. Usually your bank will be able to do these sorts of conversions for you in a single visit.