Liberty Reserve appears to be the leading digital gold currency in terms of patronage, at this time. It is popular especially in countries where credit/debit cards are not yet mainstream. It has the bulk of its users in Nigeria, Indonesia, Bangladesh, Malaysia, Vietnam, Ukraine, Belarus, Sri Lanka, Pakistan, India, Egypt, Iran, Russia, China, Sweden, Colombia, Australia etc.
Digital gold currency (or DGC) is a form of electronic money based on ounces of gold. The typical unit of account for such currency is the gold gram or the troy ounce. Many of the DGCs also offer storage denominated in currencies like US Dollar, Euro, British Pounds. DGCs are backed by gold through unallocated or allocated gold storage.
Despite Liberty Reserve’s dominance, alternatives exist. The following are the most popular among them:
- Founded: 1998
- Denominations: Gold (WMG), US Dollar (WMZ), Russian Ruble (WMR), Euro (WME) & Ukrainian Hryvnia (WMU)
- Owned by: WM Transfer Ltd.
- Registered in: Belize, Central America
- Operates in: Russia (has offices in other countries)
- Website: http://wmtransfer.com/eng/
Originally targeted mainly at Russian clients, it is now used worldwide. As at today, WebMoney lays claim to about 9.6 million users. WebMoney has very stringent entry requirements for merchants.
- Founded: Unkwown
- Denominations: Gold Metal, USD and EUR
- Operated by: Perfect Money Finance Corporation
- Registered in: Panama, Central America
- Operates in: Republic of Panama
- Website: http://www.perfectmoney.com
Perfect Money is highly popular in Indonesia, Russia and Iran. It is the only DGC that has an EV SSL, an indicator of being genuine.
- Founded: 2001
- Denominations: Gold, Silver and Platinum
- Operated by: Net Transactions Limited
- Registered in: British Channel Islands (UK)
- Operates in: British Channel Islands (UK)
- Website: http://goldmoney.com/
Amongst the DGCs, GoldMoney gains the most coverage from the mainstream media. It does not allow anonymous accounts and has an iPhone app for iPhone users. It is much users in the United States, India, United Kingdom and Ireland.
- Founded: 2007
- Denominations: Gold
- Operated by: Private Gold Equities Exchange Limited
- Registered in: Seychelles
- Operates in: Malaysia
- Website: http://c-gold.com/
c-gold has a lot of similarities with e-gold but they should not be confused. As of today, c-gold lays claim to 27,178 accounts out of which only 7,033 are funded. c-gold has much of its users in the United States, Germany, Indonesia and Ukraine.
- Founded: 2009
- Denominations: US Dollar, Euro, British Pounds
- Operated by: Digital Trade Network Ltd
- Registered in: British Virgin Islands
- Operates in: Hong Kong
- Website: http://www.globaldigitalpay.com/
GlobalDigitalPay is new, and is owned by the same company that runs London Gold Exchange (a leading digital currency exchanger). It is gaining popularity particularly in Pakistan, India and Australia. GDP requests account verification for transactions exceeding $30,000 to be removed.
*I deliberately excluded e-gold, the grandfather of them all, from this list.
Do you know of any other popular digital gold currencies you think should have been included, share them in the comments area.