digital gold

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E-gold and GoldMoney have gotten good press over the years. Both are offshore E-Gold has an impressive list of companies who support them and are located off the island of Nevis. GoldMoney has several patents, backed by Lloyds of London are located on an island of the British Isle; there client list isn't as impressive, although they maybe the choice when traveling to remote places. Barrons, Wall Street Journal.... have good articles on them. In my opinion GoldMoney looks good but I wonder if they are backed by "you know who."

I found this information on an independent site server (Rayservers). Here's what they had to say about digital gold:

There are many good choices. E-Gold is the oldest and most widely accepted. Pecunix and 1MDC are very private. GoldMoney is audited and has large reserves.

Precautions

by rayservers — last modified 2006-01-01 21:24

A brief summary of precautions you should take when using digital gold: Use a safe trusted computer, avoid tempting High Yield Investment Programs, and use common sense.

Use a secure computer. Be aware that on Windows, dedicated viruses exist for stealing authentication information and capturing sessions such as those when you use a digital gold currency or online banking. A simple solution are to boot Knoppix Linux (a full fledged Linux desktop on a CD), use a Mac, or install Ubuntu Linux.

If you must use Windows, start with a clean install, latest service packs and updates from behind a firewall and install Anti-Executable to prevent any unwanted programs from installing themselves. Remember that a "virus scanner" only detects viruses after they could have done their damage.

Never use an unknown computer to access your digital gold account or use a laptop in a public space.
Beware of High Yield Investment Programs (HYIPs): Please use common sense when dealing with any "investment" programs on the Internet. HYIPs abound and most of them promise unrealistic yields and are simply variations on a Ponzi Scheme. The oldest and most famous of these was by Charles Ponzi. You will loose your money in a Ponzi Scheme.

Remember, the dollar is dropping about 25% a year with respect to gold - any investment or business that seeks to do better has to return 50% a year or more in dollars to be a worthwhile investment. Thus the real rate of interest in the market is 25%.
Use strong passwords: Passwords used to protect accounts with significant value should contain enough randomness to be not guessable. We recommend you roll physical gaming dice to pick unrelated words - such as the diceware.com method. FAQ.
Diversify: Use multiple accounts and or digital gold currencies.