E-currency Exchange Blog

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.