This is an interview with the Mr. Steve Renner. For the last 7 years he has operated CashCards.net. His company is also now the primary dealer for exchanges of e-gold ® digital currency.
Since 2006, OmniPay the original primary dealer for e-gold, has been out of business. With the loss of OmniPay, e-gold ® independent agent exchange rates have risen from 2-3% all the way up to 25% in some cases. The 'exchange rate' is the fee an independent agent charges to exchange national currency into digital currency that can be used online. Sending national currency to purchase e-gold is called an 'inexchange' and withdrawing digital currency into national currency is known as an 'outexchange'. All exchange transactions for e-gold are handled through third party independent exchange agents. E-gold Ltd. has never even had a bank account and does not accept customer funds.
With a new primary dealer, it is believed that these exchange rates might fall back to normal ranges(3-6%). E-gold is still widely used around the world for Internet commerce so this information is welcome news for all account holders.
This was a message received by Cashcards.net customers last month.
From Steve Renner Cashcards.net:
Cash Cards is now the Primary Dealer for E-Gold. We have been approved to Bail Bars of E-Gold in and out of the system. So if you have a large quantity of e-gold - 100 oz or more please contact us for special "Out-Exchange" Rates!
(Q) Steve, give us some good news! What does that mean "Primary Dealer" ?
Hi Mark, Yes thanks for asking, we have been approved to be the Primary Dealer for e-gold, essentially taking over the function previously preformed by OmniPay. We are the Exchange Service for the Exchange Services.
This means that e-gold will become liquid again, and customers can feel confident in using e-gold as a method of payment knowing they can always sell their e-gold at any time.
(Q) What might your additional buying and selling do for liquidity in the e-gold marketplace?
This should make trading e-gold faster and easier for users, and encourage more people to use e-gold again as a chosen method of payment.
(Q) To out exchange e-gold through your company today, what is my rate on a $5,000 sell?
Currently Out Exchange is running at 15%. $5,000.00 would be $750.00
(Q) Can you forecast that e-gold exchange rates might drop in the coming months?
This should reduce the exchange rates to back to levels they were at previously in the 3% - 5% range.
(Q) For how many years has CashCards been in continuous operation?
We originally started back in 1998 providing Internet Services. Cash Cards International, LLC was incorporated in 2001.
(Q) Your debit card products are the longest running card in e-currency history. Many other cards have come and gone. What fuels your success?
We are here for the long term. We pioneered this concept and understand the Card industry, and we understand the Digital Currency. Most of the other competitors have no clue what it takes to run a Card Service business. They get a fast reseller account with some provider who does not understand the Digital Currency business and end up out of business in a short time.
(Q) What is the most popular product at Cashcards?
Obviously our Core Business is providing Cash Cards which can be funded with Digital Currency. We are the leaders in this niche market.
Yes we have a 2-Tier affiliate program which pays $20 on Direct Sales of our cards and $10 on Indirect Sales.
(Q) I see that your cards are listed in the Liberty Reserve directory. I know they have gotten really popular in the past year. How much of your monthly business comes from Liberty Reserve exchanges?
Liberty Reserve has gained in popularity recently. They have a good system, and seem to be managed well. I expect to see growth in Liberty Reserve Exchange. Another popular Digital Currency is E-Bullion.
(Q) How many card products does your company offer at this time?
We have been offering 2 main Card products: