Pecunix

Pecunix is a digital gold currency founded in 2002 by Simon Davis. Similar to competing systems such as e-gold, Pecunix allows for the instant transfer of gold between user accounts.

Estimates at the end of 2004 suggest that there were over 6,500 funded accounts in the Pecunix system at that time. As of October 2006, Pecunix had 2375 oz (73.92 kilograms) of gold in storage, which is worth approximately $1,425,000 [http://pecunix.com/money.refined...ind.goldbars] . Pecunix gold bullion is stored with Mat Securitas Express AG in Zurich, Switzerland. Pecunix, Inc. is incorporated in the Republic of Panama.

Features

Pecunix provides an alternative to fiat currencies, as do the other competing digital gold currencies. One benefit claimed by many proponents of digital gold currencies is that by keeping assets out of fiat currencies, one avoids some inflationary risks. Another claimed benefit is low fees. Transactions made in the Pecunix system are charged a fee of 0.50% of the payment amount up to 100 grams of gold and 0.15% of any amount over 100 grams up to a maximum fee of 3 grams. The minimum fee payment is 0.0001 gram.

According to Jim Davidson, author of "The Indomitus Report", Pecunix has never had a security breach of any kind and never had an account emptied by trojan or phishing attacks. [ [http://indomitus.net/2004status.html#pec Status Report on Free Market Money] , "Indomitus Report", January 31, 2005] Its software integrates PGP in order to enhance privacy and security.

Exchanging fiat currency

Pecunix does not sell its currency directly to clients. Instead numerous digital currency exchangers act as market makers selling Pecunix in exchange for fiat currency and a transaction fee.

See also

*Digital gold currency
*e-gold

References

External links

* [http://www.pecunix.com Pecunix - Money Refined]
* [http://firstwm.ru/article/?aid=Pecunix+(eng)&lng=eng Description Pecunix by Firstwm.ru]