Selecting an E Currency Exchanger

el dorado capo · #1 08-03-2012, 02:36 PM

I need basic advice for selecting and maintaining an E Currency Exchanger. What also are common mistakes. Thanks in advance

**Not_A_Newbie** · #2 08-03-2012, 03:44 PM

Quote:

Originally Posted by el dorado capo

I need basic advice for selecting and maintaining an E Currency Exchanger. What also are common mistakes. Thanks in advance

You don't need to maintain an exchanger.

Exchangers will convert your cash into an ecurrency for a fee. They also buy ecurrencies from you and send you the money to your bank, Western Union or whatever method you prefer, again for a fee.

Check out the ones in the sticky threads at the top of this folder. All have been in business for some time and will answer any questions you have about their service.

**nanaimogold** · #3 08-04-2012, 02:56 AM

You should be looking for someone who is easy to send your national currency to. In almost all cases, the biggest cost of the trade is the transmission of the national currency.

Pick an exchangre who deals with the same bank as you do you will have the best arrangement.

Certainly some scammers pretend to be exchangers, then rip people off, so you must be careful. Find someone you can easily pay, then do some googling around to learn about his reputation. This folder is a great source of info.

el dorado capo · #4 08-04-2012, 02:27 PM

thanks for the info!

sceptre · #5 08-04-2012, 05:48 PM

I always recommend that

- You use a service that is listed on Liberty Reserve's website. They are likely more reliable than fly by night services that you will find elsewhere
- Go with a VFS Member. In the event that there is an issue with the exchanger, VFS will help solve the issue by providing a dispute resolution service on your behalf

**nanaimogold** · #6 08-04-2012, 08:42 PM

Exchangers not listed on LR's website are not bound by the "X" account agreement to examine their customer's ID. That's very important to some people. Don't want to be forced to verify by ID? Look for exchangers not on that list. That list is old and incomplete, does still contain some scammers and does not list all the X account holders. In other words, the list itself is incomplete and misleading.

Not all good exchangers are VFS members, also because of contract and internal political considerations. An older trade association with arbitration service is the Global Digital Currency Association (GDCA). Some exchangers belong to that org, but not to VFS. I see that Aurumxchange is member of both orgs.

My favourite exchanger is not on the LR list, does not use an "X" account, is not a member of VFS and is an original member of GDCA.