E-currency Exchange Blog

You should be able to find e-currency exchange services that are doing Liberty Reserve to Solid Trust Pay exchange or LR to STP exchange much more easily than the other way around since they (exchangers) don’t risk anything when they take Liberty Reserve as LR as a “Get paid, stay paid” policy. From this point of view it should be much more easy.

Time ago, you were able to fund your SolidTrustPay account directly with LibertyReserve funds but that’s not possible anymore. So you have to search and find a reputable exchanger to be able to move funds from LR to STP.

Still, you’ll need to verify your account at STP before conducting any serious transfers in their system. Liberty Reserve on the other hand doesn’t require any form of verification, I believe they’re not required to since they are Costa Rica based and not Canada like SolidTrustPay.

Anyway, be careful when dealing with unkown people or companies when doing e-currency exchanges.

Take care!

There aren’t many exchangers that are doing Solid Trust Pay to Liberty Reserve exchanges or STP to LR exchanges shorter said. Even if both PP’s are widely used in the autosurf and hyip industry.

Just do a google search and you will see that on the first page there’s no exchanger that does this kind of exchange. I believe that many don’t work with STP since they allow chargebacks. So, if someones hacks another STP’s member account and does a STP to LR exchange, the exchanger will pay the LR and in a few days, the genuine owner of the STP account might ask his money back; he will certainly do that once he founds out that someone transfered funds from his account.

Since there are not many e-currency exchange services that takes SolidTrustPay be careful with who you are dealing. And always if you buy STP with LR always hold the funds for 24-48 hours before making the LR transaction. Just in case, you never know with who you are dealing with!

Take care!

I’ve said in this post that I’ll be posting some tips to avoid being defrauded when doing exchanges. These apply mostly when you do member to members exchanges on different boards or forums.

• First, you need to make sure that the person you are dealing with is someone you can trust. Ask for his credentials, I don’t know, maybe some forums accounts where he is a reputable member.
• Never do exchanges by PM’s, emails or IM’s. Do it in the public forums by posting a thread in the specific section of the respective forum.
• Ask for his name, address, phone etc. If he hesitate to provide you with these info, then the risk increases. Ask him to provide you e-currencies accounts numbers and/or e-mails and everything to proof he is someone you can trust. After that, use google to search everything about him.
• Do not trust someone using IM’s with unverified e-mail address.
• If you was scammed by someone and you have his IP, report him to his ISP. Also, if you have his accounts you can do the same to his payment processors/e-currencies.
• Remember, every time you exchange money with a unknown person, your money is at risk.

Hope this helps. Be careful!

ECUmoney is the new guy on the block. This payment processor launched at the end of last year, around september-octomber. They are New-Zealand based. They are a private bank registered as  “ECUmoney Limited” under the reference number 2171140.

Legal address and address for Service

ECUmoney Limited
5th Floor, 369 Queen Street
Auckland, 1010 New Zealand
Tel. +64-93-035-579

To tell you the truth I’m pretty impress so far with ECUmoney. They seem like a solid company. Still, this doesn’t guarantee anything (remember e-gold ? They also looked rock solid and untouchable).

To fund your ECUmoney account you’ll have to go trough an exchanger. They have a list of “Accredited ECU Exchangers” here. The other funding method is done by loading ECU prepaid cards. Details here.

They also offer 27/7 support. Haven’t tried their support yet so can’t comment on how efficient they are handling support tickets. But still, it’s nice to have such a feature.

Looking at their security features it looks like one of the best security systems I have encounter in the payment processors world. I’ll mention here some of their security features:

• Exclusive ASL [Account Security Level]
  
  It shows the current Security Level of your ECU account and gives you recommendations how to increase it.
• Free DIGIcard option to login to your ECU account, providing the best security.
• Encrypted connections
  Connections between the ECU servers and your computers are encrypted with a 2048 bits Thawte Certificate.
• IP tracked sessions (*)
  If the IP address changes during a session, the session is immediately terminated and the user must login again.
• Time limited sessions
  The user has to login again about every 20 minutes
• IP Limited access
  You may decide to limit the access of your account to one IP, or one IP range (*)
• 3 levels of Passwords: Full access, History/Balance, Balance only (*)
  You can define a “Balance only” access password, a “Balance and History” access password, and your general password. All passwords can be created/deleted at any time.
• One Time Passwords, to use for example in internet cafes (*)
  When there is a risk of keylogging, use a One Time Password! You may define up to 3 OTP, that can be used to login only one time. OTP can be created/deleted at any time.
• Email notifications for any activity on your account (*)
  You can receive an email for any activity: Login, Sending or receiving funds, converting currencies, settings modifications, etc. You may ask to receive the new balance by email, or not.
• EXCLUSIVE: SMS notifications: Same than the email notifications, but sent by SMS to your cell phone. (*)

What have I told you ? Here you can find all the features.

Talking about their fees, they are very reasonable and smaller than many other PP’s like SolidTrust Pay, AlertPay, LibertyReserve, StrictPay, PayPal.

I really like the possibility of sharing the fees. It looks like a neat idea.

All in all it looks like a solid Payment Processor which I’m sure will gain more attention in the future. Kudos to ECUmoney!!

…is going to be Liberty Reserve, Perfect Money, SolidTrust Pay, Strict Pay or AlertPay (no particular order) ? We don’t know, nobody knows (only maybe the admins themselves). Or maybe none of them will and they’ll continue to be in business years after today. But we should remember the downfall of e-gold, CEPTrust, Altergold and e-bullion.

The best thing to do in these circumstances is to minimize the risks, which means not to have all your eggs in one basket. If one goes down, well, you lost an important part of your funds but not all the funds.

Also, when it comes to exchanging e-currencies between one and another you should be very careful with who you handle your money. It is known that there are many scammers out there. So, do your due diligence, go to related forums, ask for opinions on different exchangers and see what suits you best.

On the next article we’ll talk about how you can protect yourself when making an exchange person to person (these can be done on different boards most usually).

Welcome to E-currency Exchange blog. In our articles we’ll cover different e-currency exchangers around the internet. We’ll post reviews of them so that you can chose one to serve you best.

We’ll look at exchangers that are using the following Payment Processors: Liberty Reserve, SolidTrust Pay, AlertPay, StrictPay, C-gold and Perfect Money. This is the niche we’re trying to cover in this blog.

You’re welcome to comment and post your own suggestions.