E Currency Exchanging - Is It A Scam Or A Viable Trading Vehicle?


by Jeremy Gard - Date: 2007-03-21 - Word Count: 412 Share This!

For those new to this business, e-currency trading is a sort of currency arbitraging using electronic currencies, or currency of the internet. Sites such as DXSynergy.com allow investors to buy e-currency and profit from the exchange fees charged for transacting conversions from e-currency to real world cash. You also profit from the movement in the underlying currency rates. Basically, what you are really doing is lending your funds to the exchangers and thereby providing liquidity for their currency conversion activities. For this privilege, you can share in the profits made from charging their clients fees for the exchange.

In your researching of this business, you will also find many people who have had negative experiences with this site, and with this business in general. From what I've seen, the main bugbear seems to be that it used to take months to get your money out of the e-currency system back into a form that you can spend in the real world.

However, this is no longer the case. The DXSynergy system has now been completely overhauled and it has been my experience and that of many others that cashing in your profits takes no longer than a day or so. Sometimes even within a few hours. The actual process is to transfer your e-currency funds into an exchanging house such as e-gold.com or e-bullion.com. These companies rely on providing a good service to their clients and will convert your gold (or other precious metal) backed e-currency into real-world currency very swiftly, in a matter of a few days, depending on the bank you are transferring funds to.

So, whilst some people will tell you that e-currency is a scam because they once had a bad experience with the system providers and tell you how it took them so long to get their funds out so it must be a scam, they are usually the ones who were doing this business a few years ago, and like any fledgling industry, bugs in the system will pop up. However, the business has now matured somewhat, and these issues have now been addressed. For those participating in the business of e-currency trading, at present enjoy a stress free process from investing funds, making profits, and withdrawing funds at will.

This is a very exciting new form of currency trading, and like any new thing, it will have its nay-sayers. I always recommend making up your own mind by talking with people who are making real money in this business.


Related Tags: trading, currency, scam, e

Jeremy Gard is a Futures and CFD trader based in Brisbane Australia. Jeremy is also in the business of E-Currency trading and exchanging. For more information on the topic of this article, please go to E-Currency Trading

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