Finding Out What E-Gold Stock Trading Is

What is e-gold stock trading? I checked and found a website called e-gold (.com) and come to find out it looks like it is a currency created by a company; it reminds me of something like Paypal or an easier way to exchange money. The company claims that their e-gold is backed by gold bullion; on top of other metals like silver, platinum, and palladium. The only explanation of this gold is that they are located in repositories certified by LBMA (London Bullion Market Association). They claim to have been in business for 12 years. After creating an account you can exchange within your market of choice. My personal opinion: the website looks shady.