E-currency Exchange Blog

Have you seen how many exchangers are out there ? For example there are 34 e-currency exchangers listed on Liberty Reserve’s Exchangers page: https://www.libertyreserve.com/en/exchangers/index.aspx. 34! You would say that there’s a fierce competition. Well, not quite since the target of these exchangers is very different as they target different parts of the globe: Asia, Africa, Europe, North-America, South America, Australia.

It’s hard for an exchanger to be able to satisfy all the locations of the world since he would need: bank accounts opened in different parts of the world for speedy transactions and lower fees, customer support personnel spread all over the world, ability to work with most common languages. That’s why I believe there’s still place within the industry for even more exchangers.

More exchangers > more competition > lower fees > more satisfied customers in the end. Competion brings lots of good things making hard for an exchanger to stand out as the best exchanger.

SolidTrustPay Exchanger, StrictPay Exchanger, LibertyReserve Exchanger.

If you came to this page, then you’re interested in how to withdraw your Liberty Reserve. You must already know that you can’t withdraw it directly from Liberty Reserve and you must go trough an exchanger. I have found the most cheapest solution to withdraw Liberty Reserve.

1. Exchange Liberty Reserve for Solid Trust Pay at the best exchanger here: http://xchanger.org. Right now, the fee for such an exchange is 0%. Yep, you read right! 0%!

2. Now that you got the money into your Solid Trust Pay account you’ll request an ACH transfer to your bank account, it costs usually $2 or $3.

So, the total fees are:

- 0% fee for exchanging Liberty Reserve to Solid Trust Pay.

- 1.5% STP fees for receiving the transfer from xChanger.org in your STP account.

- a few dollars for the ACH transfer.

That’s it. Now, if you find a cheaper way to withdraw Liberty Reserve please let me know. But, trust me, you won’t find. This is the cheapest way to withdraw your Liberty Reserve funds. Believe me!

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!

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.