About Liberty Reserve and e currency

About Liberty Reserve

Electronic currency is an integral unit of millions of people all over the world. Because e-commerce market is growing fast and more and more persons try to work on-line to save their funds and time. They go shopping on-line and make business on the Internet.

Digital payment systems (e-currencies like liberty reserve) become more and more popular nowadays because they help Internet community get in financial relationship online in an easy and convenient way. The market of payment systems is borderless and competitive and is growing fast.

Liberty Reserve is an e-currency account-based system, incorporated in Costa Rica. It allows fast, reliable and secure transactions between the members of the system. The customers can buy and sell Liberty Reserve e-currency via authorized dealers and various exchange services. Liberty Reserve had launched their USD backed digital currency (LR-USD) in 2002. Their gold backed digital currency was launched in 2005. Liberty Reserve is a 100% irrevocable payment system and digital currency. You can send or receive money to or from anyone in the world. Liberty Reserve is a member of the Global Digital Currency Association (GDCA), a voluntary regulatory body in the industry.

For 25 March 2009 Liberty Reserve has almost 4 million accounts opened and 2.2M funded accounts. Such huge amount of registered and funded account says about growing interest to that convenient and secure system. Exchange service GOLDEXPAY.COM has official contract with Liberty Reserve system that was signed by two companies in October 2008. One of the distinctive features of Liberty Reserve that gives the system an advantage over other similar e-currencies is the privacy option. Each selected transaction within the system can optionally be made private by the account holder.

Another interesting feature is the wallet-based spending, which allows creation of separate wallets apart from the main account to hold small amounts of money. These wallets have separate security details to ensure better protection of the main balance. Since the late 2006 Liberty Reserve became one of the most popular payment methods among the Forex traders from many Asian, South American and African countries, because it doesn't require credit card or bank account verification and is not strictly regulated by the authorities. Many trader-friendly Forex brokers list Liberty Reserve as one of the deposit/withdrawal option.

Liberty Reserve has a commitment to keep customers always informed, to provide the most secure feature-rich and private environment for customers to conduct their online business affairs, and, what is the most important, to show the power which an electronic currency can have in everyday life.

E-currency Liberty Reserve has provided their own security system that they have developed by themselves. LibertyGuard is a Firefox plug-in that blocks fake/phishing web sites that will try to steal your Liberty Reserve password. It will also notify you when you visit the real Liberty Reserve web site. LibertyGuard is an open source program, which means that everyone can view the source code and verify that it doesn't do anything else except protect you from the bad guys. Liberty Guard was also verified by Mozilla team before they allowed Liberty Reserve to publish it on their web site.

Liberty Guard Features:

• Notifies you with a blinking "You're on LibertyReserve.com" icon on the bottom right corner of Firefox when you visit the real Liberty Reserve web site. If the icon is not blinking then you are on a fake web site.
• Blocks fake (phishing) web sites that were reported to us by users like you.
• Updated every hour for increased security and every time you start firefox.
• Allows you to add four more web sites to the list of good web sites.
• Open source - you can view the source code of the plugin to verify that it is safe for use.
• Let us know if you want more features added to Liberty Guard.

Special features of Liberty Reserve:

• Get paid, stay paid - unlike credit cards, all payments are irrevocable. You can even send payments to many users at once using the batch pay option.
• Liberty Reserve is protected by an offshore Trust, and is at all times backed 100% by U.S. dollars for LR-USD accounts, and by gold for LR-gold accounts, etc.
• Liberty Reserve is fast, responsive and dedicated to serving all your electronic currency needs. Make payments by e-mail, internally, anonymously, and convert Liberty Reserve currency to any other currency.
• Business-to-business payments
• Liberty Reserve provides a number of methods to make your account secure: passwords, PIN's, stop account feature, and anti-key logger (Trojan) login system are just a few of the security precautions that Liberty Reserve has added to keep your value safe and secure within your account. It is one of the most important features of this system.
• Instant & irrevocable transactions.
• Unique to Liberty Reserve, truly private payments.
• You have the option of making your payment to any other account without revealing your account number - recipient will not see the account number you have sent funds from.

Funding a Liberty Reserve Account.

As with many digital currencies, Liberty Reserve does not accept direct transactions to and from their system. Accounts are funded or cashed out using an exchanger. Most of official exchangers of Liberty Reserve are represented on its website. Exchange between wallets inside of LR account is impossible, you need to use one of the official exchangers.

As we have mentioned above the development of e-commerce sector is growing fast today and as the time passes more and more companies appear on the stage which offer better services and more attractive fees along with convenience and speed.
There will always be place for competition in the exchange market and there will always be a wide choice for users. But the choice which e-currency to use will always be related to analysis and comparison because educated customer always tries to find the best option and not just make a random selection.