Exchange Providers

In the subsequent pages of this section is detailed information about various Exchange Providers.
The exchange providers perform a valuable service in that they enable one to fund and cash out
one’s gold. Although they all perform the same function, each one is different and deals, not only
with gold currency but, in many cases, with other digital currencies as well. They each have
various methods of payment they accept, are based in different currencies and have varying
charges for their service.
Many of them belong to the Global Digital Currency Association (DGCA)
and you will recognize that by the DGCA logo they display on their sites. The Global Digital
Currency Association (GDCA) is a trade association of online currency operators, exchangers,
merchants and users. It is their stated goal to further the interests of the industry as a whole and
help with fighting fraud and other illegal activities, arbitrate disputes and act as escrow agent
when and where required. They believe in self-regulation and have developed a reputation ranking
system and arbitration procedures to help users and operators to succeed in the industry. Logos of
the DGCA look will look something like this:
There are many colors designating a ranking with the GDCA. I recommend you look
them up.
In addition when you see the logo on any site, always check back to the DGCA to ensure
that site is registered. There are sites which ‘lift’ logos and place them on their site to gain
credence with the consumer.
Details about some of the more established exchange providers are listed here. These exchange
providers have been around almost as long as the earliest gold issuer (e-gold) and have proven
their reliability and service levels through time. You can check the currency issuers sites and the
GDCA for more if you wish but the following are recommended.
They are:
GoldNow
Spacegold
Able Gold
London Gold Exchange
Anygoldnow
Icegold
Sydney Gold Sales
GitGold
e-forex
Gold-Cash.biz
TheGoldShop
Goldcurrencies

1MDC

1MDC is somewhat different in that it is not actually a gold currency issuer but rather a ‘holding‘
company. I have included this as it is:
A secure method of holding and retaining one’s gold
A very simple system to use.
No Storage Fees
Very private
In fact, 1MDC is simply e-gold moved to a collective e-gold account and with a simple doubleentry
bookkeeping system on top: this has nothing to do with banking or risk, 1mdc does not
"use" the grams for anything or "invest" in anything. All the grams are there all the time. Exactly
as e-gold stores gold bars, 1mdc stores e-gold. Additionally, to promote 1mdc, 1mdc even pays
the storage fees on the overall quantity of 1mdcGrams, so you don't have to! Very simple.
You can even spend from one 1MDC account to another, avoiding the transfer fees normally
associated with e-gold transfers. The gold of course stays in the 1MDC account and it is just a
simple transfer of ownership of that gold from one 1MDC account to another 1MDC account. A
sort of e-gold within e-gold you might say. But without the charges.
So lets look at how we open a 1MDC account. Firstly you will need an e-gold account of course.
If you have not done so already you will need to open an e-gold account and fund it through an
exchange provider.
Here is the 1MDC screen you will see when you go to https://www.1mdc.com/
There is more information about 1MDC if you scroll down but the three main links are at the top
left main screen. Log in and Create Account. Here we will select Create Account and get the
following screen.
Gold Currencies and How to Use Them
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As you can see I have entered some details. An e-gold account, some initials, a password which
one enters twice to check for any errors. I chose a PIN number. One does not type this in but
selects it from the 4 drop down boxes. (Remember this PIN, you will use it along with your
password and initials to log in to your account)
Then select Create Account. The following screen will come up.
This confirms your account has been created. With 1MDC you do not get an email so be sure you
have retained your login details.
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To log in you go to the Login Link at the top left. And your log in screen will look like this:
Here you enter your e-gold account, initials, password and select your PIN number from the pad
as shown. The moment you select the last PIN number you account page will come up thus:
This is the main screen from which you work. The left side of the screen shows the current status
of your 1MDC account. The right side contains the links you use to perform the usual actions.
You can ‘spend’ 1mdc to another 1MDC account holder, get your history, move, or bail, e-gold to
your 1mdc account or move, un-bail, e-gold from your 1mdc account to your e-gold account.
To bail in or out gold from 1mdc you select the appropriate link and you will be taken to the
relevant page where you simply fill in the amount in grams of gold you wish to bail in or out of
your 1mcd account.
1mdc is easy to operate and a good place to store your gold.