Any currency that pays interest?

[archy22]

Hi all,
I would like to know if there is any currency that will pay you some interest for keeping some money with them. It is not the investment i am talking, but it is just like any banks i am looking for interest that we get for just storing our money in them.

[nuaeman]

I guess if online currency providers are able to provide interest, giving out loans and issue checks and so on it would be considered as a bank but I find those providers does not has the means which usually financially of course to open one so they just offer electronic money service and earn through fees and such.

[kodek]

i have no idea about e-currency that paying you interest for keeping your money with them but i get the closest to it is e-gold .. but e-gold dont pay u interest .. it just follows the market price of gold .. u may get more $ if the gold price hike .. and vice versa .. so my suggestion is .. just store your money in e-gold .. and when the gold price hikes .. just sell it ..

[nuaeman]

Originally Posted by kodek

i have no idea about e-currency that paying you interest for keeping your money with them but i get the closest to it is e-gold .. but e-gold dont pay u interest .. it just follows the market price of gold .. u may get more $ if the gold price hike .. and vice versa .. so my suggestion is .. just store your money in e-gold .. and when the gold price hikes .. just sell it ..

Well that's kinda like forex except this one dealing between gold prices with other currencies. However I don't think it will be a good market unless it offers higher interest rates maybe with fix deposits and such as people would not be comfortable seeing their money floating on the net

[buaya]

The reason why bank can pay your interest is because they take your money and go for investment, Ideally, they should made a lot of money and out of this money, they will return the account holder a tiny portion of the money earned in form of interest.

Like nuaeman, online payment processor does not have the means to do so. Their main business is to allow its customer to send and recieve money (of course they earn by charging fees along the way). If they have to pay you interest, they would have to registered them with the government at least as an financial entity. Then, they will be subjected to legal regulation, which does do harm sometimes to them


Beside, would you like to see they take your money away to invest? What if they lose and run with your money? It is like hyip in a sense.

[nuaeman]

Well people I found a site through a link given by kashifrasool in other topic which is me-gold.com where it's not some e-currency but rather an exchanger where it offers a loan program:

Me-gold Loan Program

Earn interest by loaning your e-gold to Me-gold!
Deposit your e-gold with Me-gold and earn
1.5% per month interest.
Minimum deposit: $2,000.

link : e-Currency Exchange Buy e-gold exchange e-bullion fund e-gold account

I guess for exchangers they able to do so since it involves exchanging of various currencies with some fees.

[buaya]

I am locking this thread since it is a fact that no payment processor pays interest. Therefore there is no point in discussing it. If there is really one that pays in the future, I will unlock this thread for discussion again