How to choose an e-currency exchanger

For many people, the thought of using e-currency online can be a scary thing. We’ve all heard scary stories of people being cheated and stealing money by dishonest companies, but there are some companies that have worked hard to build a good reputation for being honest and doing their best to fight fraud and fraud. use electronic currencies.

What is e-currency?

Just typing the word e-currency into a search engine will result in a huge list of currencies with weird names you’ve probably never heard of. However, there are some great online currencies that are accepted by many merchants, companies and stores.

One of the major electronic currencies that has existed for over 5 years is E-gold. This is an online payment system backed by real gold. You have an account similar to a bank account and your gold is kept in it. E-gold itself does not buy or sell e-gold, you have to do it through an e-currency exchanger. Once you have e-gold in your account, you can spend it on any merchant who accepts payment this way.

Another good e-currency is Pecunix. This is again an online payment system backed by gold. Pecunix essentially works the same way as E-gold, so they don’t buy or sell their own currency and it is kept in your account again.

There are many more online currency systems, including C-gold (secured by gold), Liberty Reserve (secured by gold) and Paypal (secured by credit cards).

What is an e-currency exchanger?

The e-currency exchanger converts money into the e-currency you choose and places it in your account so you can spend as you wish. Funds can be sent to the exchanger in different ways, but the most popular are bank transfer and Paypal.

Once you have sent your funds in the chosen way, the exchanger will convert them into the electronic currency you choose to use, and place them on the account you gave them. Remember that all exchangers charge a commission to do the conversion for you.

How to choose an exchanger?

Many are worried about how to choose a solid exchanger. They either had a bad experience or know someone who has. However, there are a few things you can do to give yourself a little peace of mind and learn about the company you are going to send money to: –

1) Check the details of their website

We’ve all seen fake websites that have links that go nowhere and look wrong, so when making your choice, make sure their email address works and that you get a timely response from them. If they have a phone number you can call, call. Check the details of the WHOIS website as a backup. Also check how long they work as this is one of the best signs of a good exchanger. Fraudsters do not last long.

2) Ask people

One of the best ways to find out is to ask real people. If you have friends who have used the exchanger, see what they think. One of the best places to find information is through forums. On them you can ask your questions or just read what other people have said about certain exchangers. Be careful, because not all information on the forums is true and correct, so carefully check everything you read on the forum.

3) Are they members of the GDCA?

GDCA (Global Digital Currency Association) is a trade association of currency operators, exchangers, sellers and users. As with any other trade association, you can find out information about the exchangers you have in mind. You can see if they have any claims against them and how they take up space. You can also complain to them.

While these few tips can help you choose an exchanger, they’re not proof of a fool, and if you’re really undecided which one to choose, start by sending a small amount to share, and then when you strengthen trust the exchanger, you have You can start sending them larger amounts.

4) Do they accept bank transfers?

This may sound strange, but bank transfers are the most easily tracked form of sending money. When setting up a bank account, you need to present company documents and personal documents to obtain a bank account. While this is not a 100% guarantee that the business is legitimate, it really helps you calm down. It also means you can request your funds back through your own bank if something goes wrong.

As in any online business, always keep your mind and check as much information about them as possible.

Happy sharing!