How to become an exchanger

#1
Hello GT
I wonder if someone could give me information on how to become an e-currency exchanger,that is exchanging Paypal, AlertPay, LibertyReserve, MoneyBookers etc
 

sinip

Super Moderator
#2
Start by reading "Acceptable Use Policy" of those exchangers. Then you'll see that PayPal does NOT allow any currency exchange and that AlertPay will make you fulfill some strict requirements before they'll allow you to exchange AlertPay. I'm not quite sure but I think that MoneyBookers also don't allow exchange.
After that you'll need domain name, hosting space, scipt or website itself and few thousand $$$ in capital to be able to start the exchange business.
 
#3
sinip said:
Start by reading "Acceptable Use Policy" of those exchangers. Then you'll see that PayPal does NOT allow any currency exchange and that AlertPay will make you fulfill some strict requirements before they'll allow you to exchange AlertPay. I'm not quite sure but I think that MoneyBookers also don't allow exchange.
After that you'll need domain name, hosting space, scipt or website itself and few thousand $$$ in capital to be able to start the exchange business.
:jitters:
it's need a great ammount of $$$
and how about currency ? AP -> LR , LR -> AP
are the moneybooker choose it themself ? :(
 
#4
You can easily become exchanger at exchangemoneyplace. There's some that I have used. I've got a huge fee of 30% when I exchange Paypal --> LR but the exchanger made lots of money.
 
#5
It is easier to become an exchanger locally,, First of all you will have to start exchanging the various e-currencies to the local currency in your country (eg Liberty reserve - to countries currency) when it is well established then you can think of expanding it to e-currency to e-currency exchange. It is cheaper to start in this way
 
#6
You can become e-currency exchanger and even a good exchanger but you should have some know how in this regard.
 
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zapper

Active Member
#7
You might have to start with a website and publish all your services with properly written and well detailed FAQs. Also you could choose to automate the exchange process if you have enough money or reserves in all the e-currencies you wish to service. Then you can fix a rate which could either be a variable or constant, depending on your reserves or any thing you may seem to be profitable. Also don`t forget to include a comments or testimonial section to improve functioning. And, remember to investigate all loop holes by which hackers can manipulate with your site data. Good Luck!.
 
#8
N1000 said:
Hello GT
I wonder if someone could give me information on how to become an e-currency exchanger,that is exchanging Paypal, AlertPay, LibertyReserve, MoneyBookers etc
Like sinip said,start by reading "acceptable use policy".
You can be exchanger on 2 ways.
First one is to open your ecurrency exchangeing website,to have fe thousand dollars for start,or even more if you want to be sure that you will be able to do exchanges.And start your exchanger carrier from zero.
Second way is to make your threads at popular exchange forums,(eg exchangemoneyforum,exchangemoneyplace) and exchange money with users there.
Whatever you choose,good luck :)
 
#9
nanoextreme said:
Like sinip said,start by reading "acceptable use policy".
You can be exchanger on 2 ways.
First one is to open your ecurrency exchangeing website,to have fe thousand dollars for start,or even more if you want to be sure that you will be able to do exchanges.And start your exchanger carrier from zero.
Second way is to make your threads at popular exchange forums,(eg exchangemoneyforum,exchangemoneyplace) and exchange money with users there.
Whatever you choose,good luck :)
now i know why many exchanger better no not include paypal in their list
because paypal can limited their account if they get illegal balance
many money changer have problem, then closed because of this
but some can survive because he got backup from his LR PM AP or others
but i still want to find trusted money exchange, which can exchange my virtual money into my currency :thumbsup:
 
#11
Debdasmptr said:
Yes you can be a money exchanger but it is little bit difficult, you have to apply for it and if government approves you then you can proceed.
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cheap cosmetics
What are you talking about man? :evil:
What government?
Internet websites are not related to any country government,they are just related to your domain hoster,and that domain hoster may be related with government by some laws.
ANyway,government does not have to approve you in ordred to become and exchanger.
 
#12
@nanoextreme, I think what you just said does not apply to all countries cause countries like US have control over all Internet activities which which has anything to do with their country. and also, failure to comply with the their laws governing the internet may lead to prosecution (an example is what happened to e-gold)
All am tring to say is that some countries MUST get your Internet services approved before you can run them.
 
#13
Tybridges07 said:
@nanoextreme, I think what you just said does not apply to all countries cause countries like US have control over all Internet activities which which has anything to do with their country. and also, failure to comply with the their laws governing the internet may lead to prosecution (an example is what happened to e-gold)
All am tring to say is that some countries MUST get your Internet services approved before you can run them.
Okey,but try to imagine how much time would it take to government of some country to check all websites in their country and approve them :confused: .
It is just impossible for governemnt to do it.
But it is possible that internet providers in some country check their clients.
I agree that your internet service must be approved before you can run them,but I am trying to say that your service does not have to be confirmed by the government,it has to be confirmed by your internet provider.
But maybe in some smaller countries it is even possible for government to approve all websites before allowing them to be hosted to internet.
 
#14
Default
You can easily become exchanger at exchangemoneyplace. There's some that I have used. I've got a huge fee of 30% when I exchange Paypal --> LR but the exchanger made lots of money.
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FALSE SIGNATURE
 
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#15
Some how i don't know the exchange but when you want to exchange the money through the debit cards simply entering by the debitcard serial number and do it.
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FALSE SIGNATURE
 
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#16
@nanoextreme if government wants to check all sites it will appoint a body to do the job but most care less about activity on the internet.
 

t2t

Active Member
#17
well the best way to become an exchanger is to xchange e-cash to your local currency.
with that you can buit up enough funds to go big.
that is exchaning from one e-currencies to another.
 
#18
Dnee100 said:
You can easily become exchanger at exchangemoneyplace. There's some that I have used. I've got a huge fee of 30% when I exchange Paypal --> LR but the exchanger made lots of money.
that's right
 

adil007

Active Member
#19
The best way to become is exchanger is firstly by building your reputation at different websites and forums, then having a lot of funds at most of the payment processors and doing successful transactions with some people to attract people to let them know that you are legit. Most of all do not ever cheat.
 
#20
adil007 said:
The best way to become is exchanger is firstly by building your reputation at different websites and forums, then having a lot of funds at most of the payment processors and doing successful transactions with some people to attract people to let them know that you are legit. Most of all do not ever cheat.
It's the ways to promote the exchanger guys..
It's simple to become exchanger, Firstly you should open many accounts in payment processor such as Webmoney,Perfectmoney,OKpay, and many others...
You can bought the fund from traders with low price, then you can sell it again through your website in more huge price...
It's simple guys..