Exchange rates:
10983
Exchangers:
135/139
Updated:
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Get to Know Pecunix Payment System

Description of payment system, how to exchange Pecunix. All about Pecunics Pecunix is one of the world's most reliable payment systems. As a digital gold currency issuer, Pecunix is a first-rate company in the same category as e-gold. With Pecunix, it is possible to make and receive payments even without a Pecunix account. Many online merchants currently accept Pecunix and that number is growing daily. Because you do not have to bother about currency depreciation, digital gold currency is the way to go.

Brief Company History

Founded in 2012, Pecunix Corporation, as it is the case with many digital gold issuers, is a registered company in the Republic of Panama. Although it conducts its day-to-day operations from Panama, gold bullions are stored with Mat Securities Express AG in Zurich, Switzerland.

A Pecunix credit unit represents certain amount of gold in grams. The company profits from transaction fees and do not charge on the amount a user saves for example.

What is the fee?

A transaction involving up to 100 grams of gold carries about 0.50 percent of service charge while those below 100 grams attracts 0.15 percent fee (see here). To fund an account or convert your gold to fiat currency, you must engage a recommended exchange organization who charges for every conversion.

Transaction fees are almost negligible though. We are looking at transaction fee as low as 0.5 percent for deals involving more than 100 grams of gold. Weighing this against other form of payment systems, let's say PayPal, which hovers around 4 to 7 percent, Pecunix offers a very good deal.

Do I need gold bullion to open a pecunix account?

No one needs to have gold bullion at hand in order to open a pecunix account. All you need is a wad of money in any national currency and a recommendation exchange operator. The exchangers are third party companies that help convert local currencies to Pecunix units. Once a pecunix account is funded, it is easy for the user to change money to gold and vice versa. Businesses use Pecunix to accept money from people who do not have PayPal or do not wish to use their credit cards.

Can I cancel transaction?

It is not possible to cancel a transaction; the same is true with other digital currency issuers. This is a thumb down and a reason why many people do not use digital gold currency accounts to make payments for goods and services online.

How secure is Pecunix?

Pecunix is secure. It uses some of the best security tools. Some experts believe it has a better security against phishing attacks than PayPal does. Because of the security walls, Pecunix accounts are hard to use. This is a thumb down.

Unlike PayPal, you can't fund Pecunix account yourself with a credit card or other popular payment systems other than through exchange operators who receives your money – local currency or otherwise – and convert it to Pecunix account. But before you do that, look for a reputable exchange organization as many are rogue empires. This is another reason why Pecunix is not popular in Europe, Australia, and in North America.

In addition, Pecunix login security helps create a wall against viruses, robot attacks, and Trojan horse. Failed login attempts are logged and too many lead to suspension of account.

How to use Pecunix

To use Pecunix, one must create an account. The minute you create an account, you are ready to receive money from other users. Your account could be in grams of gold or any national currency. Unlike PayPal, you do not need to verify your Pecunix account. Neither do you need to verify a bank or credit card. Signing up for a Pecunix account is that easy. Also, you don't necessarily need to have money on your Pecunix account in order to receive payment from that account. A customer could establish proof of payment by using a special feature that allows third party to view account balance.

Who pays the fees could be a touchy issue sometimes, therefore when making a payment, one can choose to pay the fee or let the receiver carry the load or better still, divide the fees between both parties. All these can be configured on the user interface.

How to fund Pecunix account

As it is with other gold currency issuers, funding of Pecunix account is only possible through exchange operators only. This is because Pecunix does not handle the business of converting money into gold units; therefore, you must use a third-party firm.

A good currency exchange operator is hard to come by. Before using an operator, check to see that it is an official Pecunix recommended exchange operator. Draw up a list of the top five and compare the rates. Remember to do some homework as regard to offers and services. It is good to deal only with exchangers who offer superb customer services.

Since money exchangers are always at competition with themselves, you stand to get a great bargain if you look a little more around. Very few exchange operators accept payments by credit cards for U.S. residence. A whole lot of marketers that I have used in the past accept bank wire but that could be frustrating at times.

How does Pecunix work?

You can check to see how Pecunix work by setting up two accounts – one main account and one testing account. Fund the testing account and send all the money to the main account. You could as well set up Pecunix as a merchant account on your Web site, and then buy a product just to see how it works.

Pecunix is a good payment system that helps users to trade and save up in units based on gold. With Pecunix, you can sell and buy goods or convert Pecunix units based on gold to national currencies and the other way round. The fees are low; and payment is instant and secure. You can also set Pecunix account on autopilot to pay multiple accounts at a particular time. Sending instant payment by email to someone without Pecunix account is possible, too.

© BestChange.com – 02/10/2012
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