3 Jan 2010 -Time to Exchange: Where to find one?

Hi guys! So it happened inevitably that I had to find some LibertyReserve funds today to fund for my other investments, and I was scouting the site for the most reliable/trustworthy AlertPay exchangers.

Well, what do you know, there was almost none.

How was that the case, when you have thousands of investors in the industry, and there could be hundreds, if not thousands, of people wanting to exchange their funds? Where should they turn to during such an event?

By chance, I came upon this article from a friend of mine, Frank, which details the sites he often goes to to exchange his funds.

I will be quoting some parts of his article in this edition of SMI Talk today.

Here's the link to the article:

Linky

In his (Frank's) opinion, AlertPay is easily the most trustworthy e-currency in the industry for 2 reasons:
1) Cheaper (considering there's less exchanger fees involved, though this is debatable)
2) More reliable (chargebacks allow for a 50/50 chance of getting your funds back in the event of a scam)

Whereas LibertyReserve, which is probably the most commonly used payment processor in the industry, is good for several reasons:
1) Accepted for all HYIPs
2) Low transaction fees
3) Easy to set up

With that said, the following question arises: should any investor stick to just one payment processor?

The answer is no. I don't think any investor, or any investor who wishes to succeed in this industry at least, should limit themselves to only 1 payment processor. The flexibility of having multiple payment processors, as well as the skillful use of that flexibility, is quite a valuable asset in this industry.

To find out more about why that is, please tune in for my next article on How Does Having Multiple Payment Processors Help You Succeed in HYIP.

Before that, however, I would like to point out where and how we can find reliable exchangers to exchange AP(AlertPay) -> LR(Liberty Reserve) or the other way around.

There are probably quite a few reliable ones that you know, or that you are using right now, hence, please do not hesitate to add the names of the exchangers you are using to the comment box below this post :)

And with that said, this list of exchangers is definitely not exhaustive, and that it's merely my opinion.

1. Xchanger.org

For AP -> LR exchanges, you can always rely on Xchanger.org for the low fees, reliable service and efficiency. Usually AP funds will take 6 days to get verified, therefore, if you wish to exchange your AP funds, please wait patiently for 6 business days before you will see your funds in LR.

The cost of exchanging from AP to LR is 9% plus $1 service charge; whereas for LR to AP, it only costs 4% with a $1 mandatory service charge.

Perhaps you'd like to remember that Xchanger requires all clients to register before they could exchange, and that LR funds are usually in limited amounts. Right now they only have $400+ to exchange from AP to LR.

If you wish to exchange AP funds, meaning from AP -> something else, you would need to identify yourself. This means you would need to send in your identification document, such as national ID card or driver's license, in order to be verified. According to Xchange, this is part of their fraud prevention measures, and all clients have to abide by this rule.

2. SwapGold

Again, this is one of the more reliable services in the industry. They accept all sorts of exchanges, including, but not limited to, AlertPay, LibertyReserve, StrictPay (which has already scammed), and GlobalDigitalPay. I believe the fees are reasonable, and, again, if you want to exchange Ap funds, you would have to wait 6 business days.

Note that only funds from verified accounts will be accepted. Non-verified accounts will not be accepted. A good thing that I like about this site is that you don't need to send in your identification documents. Heck, you don't even need to set up an account.

3. AlertExchanger

This exchanger has been around for quite sometime, and if you take a look on TalkGold, they've had some positive reviews from investors who have used their services. Seems like most of them are satisfied customers, from what I see, and I think there's no reason to doubt why they wouldn't continue such an excellent streak in the future.

In fact, they seem to be one of the few verified AlertPay exchangers too, so that lends them another added sense of credibility there.

The fees are reasonable as well, as they charge a minimum fee of $7 and 8% to exchange from AP to LR, and only 3% from LR to AP.

An important point to remember when you're searching for your own AlertPay exchangers is to look out for this logo:

AlertPay Verified Logo

This shows that a site is verified by AlertPay to conduct e-currency exchange services. Without the logo, it's not trustworthy, and there's a good chance they're conducting illegal transactions. You could lose your entire funds if AlertPay finds out about such transactions.

That concludes our article for today, so please let me know if you have any comments or suggestions!
:)