How to earn money on the Internet by exchanging e-currencies
Many people ask themselves a question “How to make money on the Internet?” I have been meeting this question on all the forums since 1996. There are a lot of various earning opportunities on the Internet and all of them do not require huge investments. If you feel that you have a talent of a financier and have clearly understood that you want to work with finances then the Internet is a real goldmine for you. As you understand the main idea of your business is to exchange one Internet currency to another, or to cash it. To start this activity you need an initial capital and of course a website.
Firstly you should decide on the list of currencies to be exchanged. I recommend you to work with such currencies as Perfect Money, LibertyReserve, Pecunix. For openers you need to register accounts in those payment systems. Do not neglect the settings. I advise you to set the maximum security level to achieve the strongest protection of your account. It is better to use a separate computer with the connected Internet for accessing the payment systems with IP address blocking. If you have a dynamic IP address I advise you to have a VPN server to be used for those purposes only.
How should the website look like? There are not any specific requirements here. However there are some sections that are necessary for such kind of sites including pages ‘about company’, a list of the services provided, exchange terms, rates and contacts. Also you should legalize your company and study our local legislation concerning exchange of e-currencies.
I remember the time when I was launching my business. Having registered a short domain name I ordered a design of my website to the web-designer and started writing content. Firstly I couldn’t decide whether I want to work on the internet or I want to have a brick-and-mortar company and operate with cash. And since I had enough money I decided to choose the second way and called a realtor to find an office.
At the initial stage I recommend you not to spend much money. The first transactions will not appear at once, so you may need the money.
Having finished with the texts and the site itself I started thinking of way to make the operations. I wasn’t good at programming, so I started accepting the orders via IMs which I put on the site in section “Contacts”.
Also I would like to mention separately the marketing of a new exchange office. For a start of the marketing campaign you are to identify the main places your targeting audience visits. I recommend you to start with the so-called sticky post which can be easily bought at any forum. It is the most effective ads at the first stage since the financial business is based on a trust, and the first positive feedbacks strengthen the trust to your exchange service. It makes a sense to create a plenty of topics on various forums to attract more audience to your service. You should clearly realize the difference between your service and the other ones. Make it aim to be surely a step ahead your competitors. Also do not neglect a feedback section on your site.
Also, I recommend to partner such money transfer systems as WesternUnion, Moneygram and also to open several accounts with different banks to receive wire transfers. Also, you can work with checks and money orders. The main thing is to offer as much exchange directions as possible and the potential customers will appreciate it. It is important to create a good advertising text for forum topics. Text makes 30% of the initial success.
Also I recommend you to organize 24/7/365 customer support service. Internet business operates round-the-clock, and your customers can be absolutely from any place worldwide and sometimes it’s too expensive and not comfortable to adjust to their time zones. The only way out of this situation is to establish a stable and accurate round-the-clock customer support, and do not save on it!
Having ordered the first batch of banners I started to look for suitable and good places for them. At the initial stage I recommend you not to order big banners and choose only the smaller ones. You should also put a visit statistics register to your site. I advise you to use Google Analytics. Using it you will be able to analyze traffic on your site, to evaluate effectiveness of some advertising tools. Also make a list of the forums or other resources on e-commerce and online business. Learn where your competitors place their ads and do the same. Search for the new resources and do not forget to ask your regular customers to leave positive feedbacks on various sites. As I have mentioned above this strengthen the trust to your service. Here is a list of the resources for your ads:
www.talkgold.com
www.moneymakergroup.com
www.exchangemoneyforum.com
www.ecommerce-journal.com
www.money-news-online.com
These resources provide a good response and I would be happy to recommend them as the initial platforms. One more thing that should be mentioned separately is SEO optimization of the exchanger. Unfortunately (or fortunately for you) a few people pay great attention to SEO optimization, though in vain. Basing on my experience I can say that the biggest clients come through the search engines. To get started you are to create a list of words (or semantic kernels as the experienced SEO specialists say). I recommend using the following words (let’s take Perfect Money system as an example):
exchange perfect money
buy perfect money
sell perfect money
The same variants are possible without the gaps:
exchange perfectmoney and etc.
Hire a SEO specialist or address a specialized company which deals with SEO optimization. And since SEO optimization was not my cup of tea I decided to address. Try to use firstly the rarely used queries then turn to the frequent ones. Also I recommend using more keywords in content of your site.
So, you went through all the steps and have attracted the rare clients, and some of them even come to your office. It should be said that you will hardly see the crowds of clients in the first months. It may take years to earn the confidence in financial service, and with every satisfied customer you obtain more trust in your service.
Another milestone is partnering with the electronic payment systems. Let me tell you about my relations with Perfect Money. Firstly I filled in an application at
https://perfectmoney.com/business-partners.html. Within 24 hours I got a message that my site was considered. Then they asked me to complete a form on exchange rules and after that I faxed the form to them. According to system’s rules I put a couple of the company logo on my site and in 3 days to my greatest surprise I have found my service among the authorized exchangers. Once added to the list of the authorized exchangers I have noticed that the number of exchange requests has significantly increased. Also I worth mentioning that with Liberty Reserve it took me 3 weeks to join the list of the exchangers on the site. In a couple of month I decided to participate in a new program of Perfect Money called PM for business, however to my greatest disappointment I have found that they do not allow the exchangers to participate in it. The only program available in that section was the one offering to place a logo on your site. The bonus was calculated basing on my Google PR multiplied on 20$.
Having gathered sufficient amount in my Perfect Money account I started pondering how to withdraw it. Perfect Money recommends selling e-currency to system users. Following this piece of advice I started paying the users for purchasing Perfect Money. And you know, the demand has increased immensely indeed and very soon I have sold all my PM. Another pleasant surprise for me was Business Partner status assigned to my service that gave me an opportunity to withdraw money at 1.5%.
One more pleasant surprise was when I wanted to withdraw a large through bank wire transfer. I have contacted the customer support to learn about the terms and amounts withdrawn. So, I have learnt that the exchangers have a priority and their withdrawals are processed within 48 hours. And when the customer has brought his cash to my office I quickly submitted my order and in 48 the money was credited to his account. Being greatly satisfied, the client became my regular customer. So, finally the transaction was a success for both of us – he got his account credited and I made money with service fees.
My business grew and with the lapse of time I began making one thing that allowed me to increase the turnover speed and accordingly I began to earn more. Now I receive all the money transfers from it within maximum 24 hours. I liked to work with Perfect Money system a lot and I was satisfied with their way to operate with wire transfers. Today I make the transfers to all clients directly from Perfect Money without any paper chase offered by various banks. It is very bad that Liberty Reserve has no such an opportunity. By the way I still cannot understand how to withdraw Liberty Reserve by wire transfer so I try to keep only little amounts with this system. I cash LR only when I have a client for its purchasing that lately happens rare enough.
At last my business started to bring a significant income. I hired new employees and have optimized my expenses.
I would like to finish this essay with some facts. With minimal circulating assets I reached business payback during only 4 months that was very good result. I worked about 12 hours, 5-6 days a week and each free minute I was busy with thinking over how to include possible improvements in my business. And in six months I bought my old dream, new BMW 325 coupe. I have been successful in making a reliable and stable business where the income grew each month. I am sure that at certain endeavor, obstinateness and a little piece of luck you can do the same thing. In this article I described the whole scheme and my experience to you, so act! I sincerely wish you good luck and huge turnovers!
Source:
http://www.ecommerce-journal.com/art...g_e_currencies
How to earn money on the Internet by exchanging e-currencies
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