Topic: Exchange Methods - page 2. (Read 23287 times)

Thanks for the opinion, link and info. I will look into and try that one.

We are all here to learn, discuss and share information.

You can decide to accept Bitcoins and / or LR/Pecunix, both or neither !

It does make sense to exchange LR/Pecunix with Bitcoins and vice versa;

(1) You (customers) can generate Bitcoins.

(2) You (customers) can buy, sell, or exchange items, goods and services which you can't with just Bitcoins and vice versa.

You know you can obtain a bank card to withdraw LR USD from an ATM ! You can't do that with Bitcoins, yet !

As a business, why would I accept Bitcoin and not LR/Pecunix? It doesn't make any sense to do exchanges between LR/Pecunix and Bitcoin.


Oh, and asterisk sucks. You'll want freeswitch instead. (freeswitch.org)


So you are saying that people are lazy? lol Big surprise there.



Oh and LR is a fractional reserve currency on top of a fractional reserve currency. Do not keep money in your LR accounts. Use it as a pass-thru only. Also, PerfectMoney is ran by a sociopath who is currently in prison.

_{edit by Xunie: merged 4 posts.}

I like Liberty Reserve https://www.libertyreserve.com/

Its easy to use, fast, secure and has a good API. It's been around since 2002. USD, EUR and Gold holdings. No formal ID verification process is required. You are allowed to create multiple accounts as long as you register your details fully (i.e. no fake accounts) Its based in Costa Rica, which makes the list of the 'Worlds 22 Oldest Democracies' http://wikipedia.org/wiki/Costa_Rica - Intel has a main micro processor facility in Costa Rica and I like coffee. I trust and use Liberty Reserve more than any another eCurrency or online payment system. https://www.libertyreserve.com/en/exchangers/index.aspx has loads of useful exchange links.

Here are some other suggestions for discussion:

Exchange Zone - http://exchangezone.com/ - easy and secure, member to member, eCurrency auction service.

AlertPay - https://www.alertpay.com/

c-gold - https://c-gold.com/

Strict Pay - https://www.strictpay.com/

SolidTrust Pay - https://solidtrustpay.com/

Perfect Money - https://perfectmoney.com/

Global Digital Pay - https://www.globaldigitalpay.com/

ePassport - https://www.epassporte.com/

EuroGoldCash - https://www.eurogoldcash.com/

Hyper Wallet - http://www.hyperwallet.com/

Web Money - http://www.wmtransfer.com/

Pro Currex - https://www.procurrex.com/

ECU Money - http://www.ecumoney.com/


With many of these e-currencies and providers / exchangers now implementing mobile phone payments it would seem logical to pursue that route. Most countries have 'pay-as-you-go' providers. This is as good as 'anonymous' if bought for cash. Apparently, mobile phone payments have a much higher conversion rate than credit cards etc. for online payments.

Here are some services I found for discussion and which I might be implementing myself in the future:

Zong - http://www.zong.com/zong/

Obo Pay - https://www.obopay.com/

Bango - http://bango.com/

MobileTransactions - http://www.mobiletransaction.org/

Self Bank Mobile - https://www.selfbankmobile.com/

Implementation:

Fortumo - http://fortumo.co.uk/

Asterisk - http://www.asterisk.org/

Consider the above with a Bitcoin mobile App. and we are really getting somewhere.


I don't agree with the land mail method. Its comparatively slow and less anonymous than you might think - Just remember to handle the envelope and its contents, lick the seal and stamp and send it from your local mail box...

This reminds me of a few Google Hoaxes.

Gmail Paper - http://mail.google.com/mail/help/paper/index.html

Google Gulp - http://www.google.com/googlegulp/ lol

Not anymore. They were just recently slapped with fines. They are tightening up ID requirements now.

PayPal
Free and easy to open an account.
Very inexpensive to deposit, transfer and withdraw money.
Easily accessible by people all around the world.
PayPal is known to frequently freeze funds for long periods of time.
Reveals first and last name.
Transactions can be contested fairly easily.

Bank Wire
Most well established electronic money transfer method.
Fees are prohibitively expensive for small transactions.
Bank can request to reverse transaction, but it's very rare.
I presume first and last name don't need to be revealed.
Some personal account information must be revealed.

Bank Wire through MutoNovo
Fee in addition to wire fee.
Do not need to reveal personal account information to send or receive wire.

Western Union
Many locations worldwide.
Neither party needs a bank account.
Fees are fairly expensive.
Weak identity verification.

Pecunix Digital Gold Currency
Transaction fee is small.
Transactions are fairly anonymous.
Currency must be purchased and sold through a third party, presumably with expensive fees.

Postal Mail
Lots of domestic mailing options available within USA.
Mailing of currency generally discouraged.
Various types of checks can only be cashed in certain countries.
Cash can be lost or stolen.
Value of some kinds of checks can be lost or stolen.
Value of other kinds of checks do not get withdrawn until named recipient cashes check.
Although extremely unlikely and highly punishable, postal mail can be used as a delivery method for harmful biological agents.

PayPal works best for me because it's inexpensive and easy. If I was planning on expanding and making a profit from my exchange service, I would probably get an account at a big bank and offer as many payment options as possible.

Cash in the mail is the best option, in my opinion.

1. It is fairly anonymous (there would be a postmark from your side and you'd know my address).
2. I know the laws inside and out here. I wouldn't violate them.
3. I am not in the USA.




Oh and PayPal is a horrible choice.

All it would take is for a competitor to rat you out to PayPal and you'd be out of business.

Exchanging in and out of physical gold/silver is another option. I have experience with shipping goods, and a friend of mine is a bullion dealer.

_{edit by Xunie: merged two posts.}

Hi everyone.  I'd like to see a good discussion on different methods for transferring into and out of cash.  It has been touched on elsewhere, but I'd like to create a definitive thread for it.  This discussion should include, but shouldn't be limited to the following...

1.)  Methods mentioned previously on the forum, along with their pros and cons.
2.)  New ideas including ones that are "outside of the box"
3.)  As a customer, which method do you prefer?  What is more important to you?  Anonymity, security, convenience or other?

NewLibertyStandard is using direct transactions with Paypal.
I think Sirius-m is working on several different direct transactions that the customer may select from.
I am using a deposit and withdraw system using Paypal (for the time being).


Let's dicuss everything from satoshi's sophisticated "e-bay-like" idea, to madhatter2's "money in the mail" idea, and everything in between.




One last thing.  Legality can be listed as a pro/con but let's not get wrapped up in it here.  NewLibertyStandard already has a good thread started on that topic.