idea for a business

Could a business that offered exchanges between say.. e-gold and paypal work?

We could offer more options later i guess but the default would be between e-gold and paypal. We would have to use like 5% processing fees to make it viable and a processing time of around 5-10 days (time to receive money then upload to bank acount again)

 

http://www.goldexchangedir.com/

 

honestly that site sux... if u didnt ahve 2.5 k posts and have two links i bough in your sig i'd says spam even..

 

You are not in the USA so laws are different, but in general anything that involves other peoples money attracts lots of attention from regulators, tax people etc. You will have a contingent liability to both parties in every transaction, so for each $100 transaction you are on the hook for $200 plus any damages, penalties, taxes, etc. I imagine you would also have some exchange rate exposure.

It would probably be a great and useful service, but I wouldn't go near it myself.

 

Actually I would have to register it in the US since I'm a US citizen.. but generally when your looking at nice processing fees for something that really requires no other money you can make a steady profit. The basic idea is put a processing fee of 6% on anything that goes between payapal and e-gold or vice versa

We would need to include US fees for this since this would need to be a US baed comapny.

 

Eh, its not spam, first result in google. The site lists a ton of other sites (its a directory) that do exactly what you're looking at doing: paypal to e gold transfer.