Liberty Reserve Payment System
Liberty Reserve is an online payment system as well as an investment tool. It allows you to get very easy access to your funds, which means that payments can be made very quickly. You can even set up regular payments so you do not have to log in to your account every time you want to make a payment to someone. You can also hold funds in your account and receive interest payments on it.
You are able to store a balance in your account in US Dollars, Euro or gold grams and use this to transfer payments to others who also hold a Liberty Reserve account. However, you cannot pay in to the account in one currency and withdraw in another. Your balance will be held in the currency that it is paid in. It is possible to have a balance that is split between different currencies. You can choose to invest this money and receive interest on it, if you wish.
Once you have made a payment from your account, it cannot be reversed. It is a real time system, which means that you can pay money to someone across the world and they will receive it straight away. This is something which is a lot faster than a bank transfer and so is a good option when you need to make fast transactions. You are also able to keep some money in a more easily accessible part of your account called your wallet. This means that you do not have to go through the long secure log in process to get it. As this is not so securely protected, it is recommended that you do not keep so many funds in there. However, it can be useful if you think you will need to make some extremely quick payments. If you prefer the higher security option, then this is a function that you can ignore, but you will have to take the time to log fully in to your account each time that you want to access your funds.
There is good security on the site with a hacker proof login page to protect account holders. They even have a custom message that you choose so that you know that you are genuinely logged in to the correct website, rather than a copy. This is much more secure than many other online payment websites, where it can be easy to accidently log in to a clone page and give away your secure details to hackers. With many people concerned about online security for banking, it is a reassuring to know that they have some of the best systems to protect their customers from hackers. However, it is still wise to use a virus protector on your computer and ensure no one is overlooking you when you are entering you"re secure details, so that you as well protected as possible with regards to security.
There is a private messaging system as well, which means that you can securely communicate with others. This is better protected than other instant messenger or email systems which means that you may feel safer using it, especially for exchanging information of a confidential nature. It is possible for emails to be intercepted and so having a more secure system like this can be very valuable. If you are discussing issues with regards to finances, then it can be reassuring to know that matters are being kept private. You can only use this to communicate with other Liberty reserve members.
The business tools that they have will allow business to easily and securely send funds to each other. This can have a lot of advantages over credit cards, because the processing fees for these are so expensive. With payments not being able to be reversed it means that merchants will stay paid all of the time and this can not only reduce fraud but it can give that merchant peace of mind in knowing that their payments cannot be taken away from them again. Many do use the system now instead of other more expensive payment methods.
You will need to start by opening an account with them. This will allow you to keep track of the balance that you hold, the transactions that you have made as well as any private messages that you have sent or received. In order to get in to your account you will have to get through a lot of security checks. You will be able to make transfers to other Liberty Reserve account holders while you are logged in as well.
If you want to withdraw money, you will be able to using one of the recommended exchange providers. These are not affiliated with Liberty Reserve and so you choose them at your own risk. However, by using one that is a member of the Global digital Currencies Association, then you have some confidence that they are safe. You will use the same type of companies for depositing money in to your Liberty Reserve account.
If you hold funds in your Liberty Reserve account then you may receive interest. This will be paid daily and the amount will depend on the investment plan that you have chosen as well as the currency that you are holding. Investors are protected against losses by Liberty Reserve so the income that they get from trading is divided between investors. They will not pass on those losses, but will pay less to the account holders to compensate the company against any losses that have been made. This means that you will never see the amount of your holding fall, but you may see the interest at a reduced rate.
It is possible to make money from referring others to the website. You just need to open an account in order to do this and do not actually have to deposit any money. However, if you are caught spamming in your efforts to get affiliates, then your account will be closed down and you will lose any referral fees that you may have received.
© BestChange.com – 03/03/2013
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