Making Money on the Internet:
Gold Trading

Al Wong
May 2, 2005

Updated 07/22/05 - When I first joined DxGold/DxInOne back in April, the session time was six days and the minimum investment was $15. Since they upgraded their website, the session time was reduced to 2 days and now it's 24 hours with a minimum investment of $25. I am updating my website to reflect this.

I just discovered a way to make money on-line that isn't a scam. Yes, you can do it at home in front of your computer wearing your funky pajamas. The investment is minimal. You can start with only $25 USD(!) but more is better. There is some risk, of course, but I feel the risks are minimal enough to make me write about it. It deals with buying and selling egold currencies. The procedure for the investment is quite involved and can be frustrating at times. There is a learning curve including new terminology to learn. I believe the effort is worth it. If it were easy, everyone would be doing it, right?

In fact, people are trying to sell information on how to do this for as much as $300! I am not charging anything for this information but I would appreciate it if you use my eGold, NetPay and DxGold referral links below to join. If I see that people are interested in this opportunity (via referrals), I will write more details about this subject. If not, then you won't see me write anything more. This is an experiment of sorts for me. I want to see how many people are truly interested in this. If there is no interest, I may take this webpage down and this information will not be available for free again.

Also, this is not a get rich overnight scheme. However, given time, the payouts can snowball into something potentially huge! Your income is received through interest (0.1% to 1.5%) earned every 24 hours. You may invest the interest back into your investment for compound earnings. Depending on how you invest your funds, you can do very well in a few years. I leave it up to you to figure this out.

By the way, this is way better than you can earn in any US bank which pays 0-2% per year in a savings account. If you're lucky.

Still interested?

Good.

First, you have to convert your investment money into egold units. What are egold units? egold is the on-line version of money based on the metal gold.

Another way to look at it. Imagine the Internet being a foreign country with it's own rules, traditions, culture and money! If you go into a foreign country, you need to exchange your money to the currency of that foreign country. Rather than pesos, bahts or patacas, the money unit for the Internet is egold.

You can't carry around your egold. You need to keep it somewhere safe but have ready access to it. To do this, you need to open a few egold/ecurrency accounts. The accounts are free to open and you do not have to immediately deposit money into the accounts when you open them. The links are below. Open your egold accounts below, then continue reading:

The reason you open so many accounts is, it makes it easier to move your funds around. Also, websites go down occasionally and, if you need your funds right now, it's good to have other options. At the very least, you should open an eGold account. They are the oldest and most popular.

Please note the difference between eGold, the service that holds your egold, and egold, the unit of currency. Don't you hate it when companies call themselves their product? They make it confusing.

Now deposit the money you want to invest into one of these egold accounts. Remember you need a minimum of $25 for this investment. Your money is exchanged for egold. Each service is different in their deposit procedures so check their websites on how to do this. Pay attention to fees, if any.

For example, to deposit money into eGold, you need to use an exchange service. What is an exchange service? As its name implies, it's a service that exchanges money for egold. In fact, eGold provides a list of exchange services. You use one of these services by depositing your money with them to buy egold and informing them your eGold account number. The service will convert your money into egold and deposit it into your eGold account automatically. You will probably get email confirming this and you can login to your eGold account to verify this. Again, each service is different in their deposit procedures so check their websites on how to do this. Pay attention to fees. Exchange service's fees are usually a percentage (3%-4%) of the amount you deposit. So if you want to deposit, say $100, you need to deposit a little more to take into account the fees.

Some exchange services work faster than others. Some will take a few hours. Some will take a few days. It will also depend where you are located in the world. Or if certain banks are near you. So shop around.

Note: Your biggest first hurdle will be opening the egold accounts, converting your money into egold and deposited into one of the above accounts. This is because you are out of your comfort zone and everything is strange and new. Don't worry though. The hard part is getting it into the system (Internet). Once your egold is in the system, you will see it is easy to make money with it. This is a classic corridor effect. You will see more, once you get this far.

But you will have to go this far in order to see it!

Just reading about it won't do. The best way is to jump in and do it.

Now open an account at DxGold. This is the website where you will be investing. It is free to open an account too. My link is:

06/02/05 Update - The new DxGold website evidently has speeded up the session times! The new sessions are now 24 hours! This allows you to earn interest everyday! It's not quite clear to me exactly how much interest is earned though. I need to study it more.

The website now works correctly with Netscape and Firefox as well as with Internet Explorer.

When you open a DxGold account, you will see across the top a menu of buttons. There will be a button to "Your Account". There will be another button to "Your Portfolio".

The FIRST THING you want to do after opening an account with DxGold is to TRANSFER FUNDS INTO IT! Do NOT start a portfolio until you have funds in your account! I cannot stress this enough. When you have money in the account, you may open the better standard portfolio with more free money in it. You get an extra $30 of free money just for opening a standard portfolio. You may use that money to pay any fees incurred or use it to invest!

Now transfer money into DxGold through one of the egold accounts you already set up above. Click the "Transfer Funds" button on the left column menu and follow the prompts. This transaction is called an InXchange in DxGold. The transfer should be very quick.

You may also do a bank transfer directly to DxGold but I would not recommend that approach. You will end up paying more fees and waiting days until your bank decides to transfer the money. Going through one of the egold accounts listed above is better, cheaper and faster.

Once you have successfully transferred funds into your DxGold account, you may open a portfolio. Open the standard portfolio or higher depending on your initial investment. Once you open a portfolio, follow the prompts to buy digots.

Why Are We Doing This? The Point!

You make a profit by lending your egold to merchants in the gold market for short periods of time (i.e. 24 hours). You do this by buying digots which is short for digital gold. For your loan, you get some interest (0.1%-1.5%) earned on your money. You do this every 24 hours. You may reinvest any profits for compounding earnings to occur. Since you are lending, your egold is safer than if you were just speculating in gold. It should be safer anyway since you are going for the interest payments. This is a long term investment and the payouts are potentially huge.

This is the simplified, easy explanation about this investment. There is much more to learn especially the terminology which I have barely glossed over here. But I believe the effort is worth it. The gold is there. Have fun!

Note: I see too many people over-analyzing this opportunity. (The average time spent reading this is 15-25 minutes which is a long time for a webpage!) You know what happens? They end up doing nothing. There is no way you can significantly learn about this without jumping in and doing it. The concepts are too new and there is just too much to learn.

If you want detailed, hand-holding, every-baby-step-of-the-way instructions, then buy the $300 course! You'll be happier. Of course, you will be $300 behind if and when you actually start to do anything.

This is the free, simplified, quick-and-dirty explanation of what you need to do right now!

It mystifies me why people don't signup for the egold accounts.
I have stated here several times they are free to open. You cannot lose.

Just reading about it won't do. The best way is to jump in and do it.

I am currently checking out another Internet trading scheme that is riskier but the compounding interest payouts are potentially huge. I need a little more time to verify the payouts are steady before I can tell the world. I am very excited about this.

05/20/05 Update - I have written another webpage about this new investment. It is password protected though. I require that you sign up for at least one egold account (through my links for eGold and NetPay ) before you can go to the new website. You will need these accounts anyway for this investment. Send me an email after you have signed up and I'll email you the information on how to access this webpage.

More on the Risks Involved

DxGold is incorporated in Vanuatu, a South Pacific island country near Australia. They are not SEC regulated and are not insured. So if the company goes under, you have no legal recourse to get your money back.

On the other hand, the DxGold website has been in business since 2001 with literally thousands of satisfied customers who have been steadily paid interest. In Internet years, they have pretty much established themselves. They seem to be a profitable company. They appear to be just like any other legitimate company, trying to make a profit. Their website is very secure which is a good thing. They are almost paranoid about security. I believe the risks are minimal with this company.

How much risk you can bear with your money is up to you. You could start off with a small amount of money to see how it goes. Then add more as your confidence grows. Of course, it is not a good idea to invest with money you cannot afford to lose.

External Links:

  • eGold - The most popular website to store egold.
  • NetPay - Another website to store egold.
  • e-Bullion -Yet another website to store egold.
  • DxGold - The website to buy your digots!
  • Dx4Dummies.com - The best website for free information about how to use DxGold.
  • DxTruth.com - A very new website with good articles on how to use DxGold. Requires registration which is free.
  • DxChangers - Contains more information about buying strategies.
  • DxCurrencies - Has information on the time it takes for funds to flow to/from egold accounts.

My Writings

Last updated : July 22, 2005
Copyright 2005 Al Wong, Los Angeles, California, USA