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 are looking for a StrictPay exchanger there aren’t many on the market that deal with StrictPay.

That’s mostly because StrictPay itself as a payment processor is pretty new but as it’s gaining market share more and more are considering using StrictPay. StrictPay can be an effective alternative to SolidTrust Pay or AlertPay.

StrictPay exchanges are rising day by day and the need for StrictPay exchangers rises also.

If you are looking for low fees for a Liberty Reserve to StrictPay exchange take a look at xchanger. They exchange LR to SP for 0% fee. You read right! 0% fee.

I’m not aware of any other company that exchanges StrictPay.

Finding an xchanger company that does Liberty Reserve (LR) to Strict Pay (SP) exchange or LR to SP exchange is pretty hard. There are not many who do this kind of exchange.

Both Liberty Reserve and Strict Pay are user-oriented, altough StrictPay fees are twice bigger. Still, both payment processors are reliable and I recommend using both (”Never keep all your eggs in one basket”).

When it comes to popularity, it’s obvious that LR is much more popular, but SP is growing pretty quickly I could say also, and I won’t be surprised if in a few years it will become the main competitor to Liberty Reserve.

When it comes to exchanges, for Liberty Reserve are a lot of them, but for Strict Pay there are only a few. They still have to work in this field, because it’s for their own good.

Be very careful when doing exchanges with  xchanger companies.

There are not many exchange companies that are doing Strict Pay to Liberty Reserve exchanges or SP to LR exchange simply because Strict Pay is not such a popular payment processor yet. And another reason is that you were able to do this kind of exchange from Strict Pay site, but they’re not offering this feature anymore. You can find more about why they stop it in their news section.

You need to verify your Strict Pay account before doing any kind of transactions. Their policy. They are very fast when it comes to verify your account. You won’t have to wait for days/weeks.

Strict Pay and Liberty Reserve are the two processors I love the most. Just hoping that Strict Pay will gain more market share in this though payment processing industry. They deserve it.

Always be careful when engaging in e-currency exchanges with unkown persons or xchanger companies.

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.