C-Gold is an Electronic payment system created in 2007, by Private Gold Equities Exchange Limited, a Company in Seychelles that focus in the development and operation of online market platform and electronic commerce system.
C-Gold is an electronic payment system backed by gold, which serves as a platform of free online commercial activities and exchange between various users; it is denominated in grams of gold (G). the most important feature is that it is redeemable. Users can login to their account using the Web based user interface to make payment to each other with their account balances. Users can also use the services of third party exchangers to convert their C-Gold (G) holdings into fiat Money (Real Money) or other form of currencies, by paying equivalent gold balance from their account into the account of the exchanger. The User will then receive real money via cash, check, bank wire transfer, money order, and other crypto currencies, which are independent of C-Gold. Any person who is of legal age and legally resident in his/her country of residence can setup and operate a C-Gold account to make and receive payments from other c-gold users. Creating a c-gold account is easy, there are no cumbersome procedures, and a full functioning c-gold account can be created in 1 to 2 minutes.
C-Gold has enough Gold reserve stored in 12 storage facilities in Malaysia, the gold is in 1000 gram bars of 99.99 purity, certified and marked bars. However, the only way to fund your c-gold account is by means of storage of gold bars measured in grams or buying c-gold from someone who already have c-gold balance in his/her account.
A c-gold user can redeem actual gold on the spot if his or her account exceeds 1000 grams or 1 kilogram, customer can as well request to have the gold bars shipped to his/her registered address at no extra charge.
C-gold will not ask you for account verification until you have more than 1000 grams or 1 kilogram of gold bar in your c-gold account balance. Users can open any number of c-gold accounts.