DGC Preferences: What Works For An Everyday DGC User?

When I discuss the benefits of privately issued digital currency such as no chargebacks, instant settlement, low fees etc....Iīm always trying to sum up the best reasons that will persuade a retail Internet shopper to put down the credit cards and log in to a DGC account.

This month I had the chance to interview an everyday digital currency user. As an Internet consumer, his situation is very common for this industry. He does not have a local bank or bank debit/credit card, also he does not use that check cashing store on the corner (too expensive, too many hassles). Like many Internet users, this reader enjoys the low fees, instant settlement and hassle free DGC lifestyle.

He uses digital currency like anyone else might use a bank. Many people across the US, Russia, China, Africa, do not have access to a īnormalī bank account and use digital currency to complete their daily financial tasks. The following is my Q & A with Jelani El who lives in New York.

1) What kinds of digital gold currency do you frequently use?

I use Crowne-Gold, c-gold, e-bullion, e-dinar, e-gold, Goldmoney, and Pecunix

2) How long have you used them?

Iīve had my e-gold and e-bullion accounts for at least 7 years. The others, Crowne-gold, c-gold, e-dinar, Goldmoney and Pecunix, Iīve had for between four years to six months.

3) Do you have an everyday checking and saving bank account?

No, I donīt. I havenīt had a conventional bank account in over 11 years.

4) Do you have a debit card that works with your gold accounts?

Yes. I have at least three debit cards that can be loaded with DGC at any one time.

5) Do digital gold currencies provide you with an effective alternative to banks?

Yes. I taught myself how to use a digital currency account as a viable substitute for a regular bank account once Iīd gotten E-Bullionīs debit card.

6) Is the debit card a īmust haveī for anyone using DGC but not having a regular bank?

Yes, I would consider a debit card to be essential.

7) Have you found any DGC that is more accepted by businesses and used more often in business dealings?

Iīve found that e-gold has been the most popular, with e-bullion being a close second. Other DGCs are seeing greater use, as more people discover them.

8) You are located in New York, do you send funds to friends or associates overseas using DGC?

Yes. Iīve done this on a routine basis.

9) Is it cheaper and more convenient to use a DGC than say a money transfer service like Western Union?

Yes, it is. I can send and confirm payment, in addition to receipt of payment, in real time online if Iīm in a live chat with a client or customer.

10) If you had a choice, Western Union or e-gold, which would you use sending money to friends?

I would use e-gold, if my friend had an account.

11) Seeing that you donīt have a US bank account, what is the most convenient method of payment for you to fund an e-currency account?

Bank wire to an exchange agent to the digital currency account of my choice if Iīm being paid by a client. If Iīm funding my account personally, then I look for an exchange agent that can accept Western Union, MoneyGram, cash deposits, debit cards and Bank Wires as funding methods.

12) What is the largest benefit you get by using digital gold?

Speed and ease of payment confirmation.

13) What do you see as the biggest problem with using a DGC?

Finding reputable exchange agents can be a little bit of a challenge. Also, Iīve been working on ways to explain the concept of a digital gold currency to people unfamiliar with it.

14) Has your account ever been hacked?

Before I got my CryptoCard, Iīd accessed my e-bullion account from a computer in a public library. Funds were stolen from my account. I promptly reported it, and the funds were restored. Since then, I got my own computers, throughly secured them, and acquired two CryptoCards.

15) Do you feel secure in keeping funds in your DGC electronic account even though its not insured or backed by the government insurance?

Yes.

16) The e-gold operators have recently been charged with some alleged financial crimes related to the daily operation of their business, did that effect your decision to use e-gold?

No, it hasnīt. I understand that criminals will use whatever tool is available to further their crimes. There are more people using their e-gold accounts honestly than there are criminals.

17) What do you consider to be the best feature of e-bullion?

The CryptoCard. Itīs very easy for me to demonstrate the necessity for computer security when using DGCs by pulling it out and explaining how it works.

18) Which DGC do you see as the current leader and why?

From what Iīve seen, e-gold, e-bullion and pecunix are the DGCs seeing the most use. The others are beginning to gain in popularity and use.

19) Which DGC do you prefer and why?

Overall, I prefer e-bullion and Pecunix. I consider these two to be the most secure. I appreciate the added account security with the CryptoCard, along with the convenience of the e-bullion debit card.

22) Do you own any physical gold yourself, like coins or bars?

Not yet, but I plan to very soon.

DGC Magazine