Is e-gold illegal in India???

[olabisi75]

Originally Posted by geraldine23

E-Gold is legal for all countries.
However it may not be recongized by your country as real cash transaction if anything happen to your transaction. Becareful with that

i will say as long as yu know how you can convert e-gold to real cash in your country then it best for you to use

[Millionaires]

Originally Posted by olabisi75

i will say as long as yu know how you can convert e-gold to real cash in your country then it best for you to use

All these conversions can be automatically done by purchasing a E-gold Debit Card

[TheBigHare]

Ive tried to do business in India in the past,with some problems. My understanding is that the exchange controls imposed by their central bank prevents anyone from sending their domestic currency out of the country.

So sending X rupees to a gold exchange in London for conversion to e-gold would be forbidden. However, I guess exchanging rupees for e-gold with an exchange based in India would be OK as the rupees didnt leave the country, if person X or exchange Y holds the currency it makes no difference.

Its quite common for businesses to get around these problems by using a commodity as a proxy for currency, rolex watches, coca cola, tractor parts, so instead of taking sales revenue in domestic currency, you get half a tractor, a million tins of coke and 6 watches

[hightension486]

It aint illegal to use egold but transactions using egold, e-bullion or any other e-currencies you see online are mostly risky. Therefore you don't see reputable firms like ebay or amazon.com using egold as a form of payment.
*Common sense is an uncommon thing*

[qianliu]

i do not know, but maybe E-Gold is legal