E-gold troubles
by Webmaster
A mission of this article is provide an explanation why e-gold payment system
doesn’t gain popularity as much as PayPal does. On official e-gold website
evidence this payment system has more than 2.6 million registered users. On
the other side PayPal which has over 86,6 million accounts. It’s more
than 30 times differince. So, why this safe and usable payment system so unpopular.
We mad an attempt to supply an explanation of this phenomenon and establish
its reasons.
User’s confusion
e-gold makes people think. The main system advantage – country currency
rate independence causes inconvenience to people. They get into the way of using
common currency like US Dollars or Euros and e-gold compel to measure money
in grams and ounces.
Exchange difficulties
Compared to other systems like PayPal, the process of buying e-gold can be
confusing to a person unfamiliar with the e-gold system. Unlike some digital
currency operators like e-Bullion, e-gold Ltd. does not sell digital currency
directly to the user. The reason they do this is so there can be no debt or
contingent liabilities associated with the business, making e-gold Ltd. absolutely
free of any financial risk. People has to use third-party digital gold currency
exchanges.
Non-reversible payments
e-gold runs a non-reversible transaction policy, meaning that there is no
protection for purchasers if vendors fail to supply goods.
eBay prohibition
World-knownk online auction eBay interdicts using e-gold. Beginning January
2006, eBay has restricted buyers and sellers from using any online payment system,
except for PayPal. eBay specifically named e-gold as one of the online payment
systems that will result in them cancelling a seller's account if used.
e-gold Fraud
As an online service, e-gold is vulnerable to various threats, notably phishing
(for example, forged emails asking for login details) and spyware. All this
illegal activity disappoint people in total system security.
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