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What is e-gold,how is it work?


i hear about e-gold,this is about internet mony exchanger but idon't no about it.

you pay money..and they give you the equivalent of your money in gold...Lets say gold is at 400 dollars an ounce. Then you throw in 200 dollars into your account. They will give you half an ounce of gold. Which is 200/400. (So, if you gave 300 dollars, they would give you 3/4 of an ounce). Now, if gold goes up to like 500, then your money will be worth 500/400 Times 200=$250. And if gold goes down, then likewise....

A currency backed by Gold.

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