FAQs

On specific topics:
e-gold
Vertoro Orders
Public Key Encryption
Using Encryption with Email (Thunderbird/Enigmail)
Setting up PGP

What is digital gold?

Digital gold or a digital gold currency is simply a warehouse receipt for gold or silver which circulates online. It is often useful as money. The amount of gold in your account should reflect your claim against gold stored in a warehouse.

A digital gold currency such as e-gold holds many bars of gold in secure vaults. The e-gold in your account is a claim against some of that gold. For example, if there is one ounce of gold in your e-gold account, you have a claim for one ounce of the gold that e-gold is holding in storage.

For more information on the different currencies, you can find links to their web sites from our page here.

For help on how to open a DGC account, you can visit our tutorials.

Please visit our e-gold FAQ if you have questions about e-gold in particular or DGCs in general, and how they operate.

What is a DGC?

DGC stands for Digital Gold Currency. E-gold, GoldMoney, Pecunix, etc. are all examples of DGC's.

How can I be sure there is gold?

The digital gold currencies we represent have a very good reputation. In part, that reputation is based upon audited records of gold on deposit in major warehouses. GoldMoney provides audit information on their web site. The e-gold site includes and examiner page with details on their gold inventory. The e-Bullion currency does not provide inventory information, but has proven to be very reliable over the last five years; as well the e-Bullion founders are of extremely high personal integrity. Liberty Dollar provides audited records of gold and silver in its vaults.

Why is gold traded in ounces?

Gold and silver are traded in troy ounces. The troy ounce is a special weight developed during the early Renaissance at the city of Troyes in France. Apothecaries and metal traders from all over the world would visit Troyes for market fairs to trade gold, silver, and other commodities. Gold and silver are very traditional commodities, and still trade in ounces troy on many major world markets. The troy ounce is 31.1034768 grams exactly.

Is there another kind of ounce?

Yes. There is also an ounce avoirdupois which you might think of as the grocery store ounce. Most of the things you see in grocery stores which have labels marked in ounces refer either to the fluid ounce or the avoirdupois ounce. In a free market, all kinds of weights and measures develop over the years to satisfy different purposes. The ounce avoirdupois is 28.349523 grams. Notice that the troy ounce is heavier.

What is digital gold good for?

First, digital gold is a claim on real gold or silver. Since the value of gold and silver has been rising for several years, largely in response to inflation in the dollar, euro, and other currencies, digital gold is a way of owning gold and silver. It happens to be one of the fastest and easiest ways to get into a position in gold or to convert back to national currencies.

Second, digital gold is a way of making payments. People all over the world understand that gold is money. So, it is easy to use at many locations worldwide. There are tens of thousands of merchants on the web accepting one form of digital gold or another.

Third, digital gold may be invested in other enterprises. There are legitimate sites at http://pvcse.com/ and http://dbourse.com/ which offer shares of stock in going concerns. Many of these pay dividends.

There are also a large number of High Yield Income Programs (HYIP) or Ponzi schemes. You should stay away from them. Most of them make promises and claims that are untrue or incomplete. A few make it clear that there is a timing issue, and if you aren't in the first few participants or if you continue to "play" after a certain time, you won't get your money back. If you think you've been defrauded in a Ponzi scheme, there are a number of things to do. Please consult our Fraud FAQ [forthcoming] for suggestions.

How can I obtain some of this digital gold?

Why, you can buy it from us of course! Our prices are listed here.

To help you better understand our order process, please visit the Vertoro Order FAQ.