MAKING MONEY FROM E-CURRENCIES (E-GOLD, LIBERTY RESERVE, ETC)
-By Ejezie Sunday. 08032537301.
When referring to e-currency, most people immediately think of the FOREX market. The truth is that e-currency is just like money and it’s making people rich (sadly, it can make you poor is not well informed). E-currencies are means of making payment on the internet. It’s a means of exchange just as you use your dollar or Naira to pay for goods and services. The difference between e-currencies and physical legal tenders is that e-currencies are used over the internet alone.
Most e-currencies offers immediate payment with non-charge back policy (You cannot reverse payment). Some of them offer privacy and anonymity and are fully backed by gold while some are back by US Dollar and Euro.
There are many Type of E-currencies Providers on Internet, Some of them Backed by gold/metal and others by real money, We may choose type of e-currencies that suitable for our personal purposes. A few of them are well recognized among e-currency users and many are just coming up. To mention but few are:
1. e-gold
2. Liberty Reserve
3. e-bullion
4. V-money
5. AlterGold
6. Pecunix
7. PerfectMoney
8. Paypal
9. MoneyBooker
10. AlertPay
11. c-gold
12. web-money
13. Feathered
14. e-Dinar
15. 1MDC
16. eLiberty Dollar
17. GoldMoney
18. Gold888
19. Phoenix Dollar
20. VirtualGold
21. V-cash
22. e.t.cOf all the e-currency companies listed and not listed, only but a few is widely accepted and used in Nigeria. The most popular e-currencies in Nigeria are e-gold, Liberty Reserve and e-bullion. Web-money and AlterGold are gradually finding their way to Nigeria.
e-golde-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage.
Other e-metals are also issued: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold.
e-gold started operation since 1996 and has grown to be very popular and once the most accepted and easy to use e-currency. It’s service was almost anonymous and instant.
Sadly, e-gold is currently no longer what it used to be. There has been a lot of cases against the company, at such, e-gold has almost lost its values and many merchants no longer accept it as a means of payment.
Right now, e-gold has suspended new account creation, has appealed to many automatic exchangers to suspend automatic exchange while they work to re-vive the system.
My advice is that if you want to use e-currency and have other options like Liberty Reserve, e-bullion or AlterGold, use any of them rather than e-gold.
For more info, check
www.business-nigeria.com/ec for more info.
How to use e-currencies to make moneyLike earlier defined, e-currencies are used as a means of exchange. It is internet based and can only be used over the internet.
There are many ways of making money on the internet using e-currencies. However, the risk involved in online business is so much that one needs proper education and guidance in other not to loose so much money.
FOREX – FOREX is one of the many ways to make money online. Though risky, with proper training, I must say it is worth trying. Fortunaly, many FOREX brokers accept e-currencies like e-gold, liberty reserve, e-bullion, web-money, etc. that makes it easier to make money trading FOREX with e-currencies. This is recommended only if you’ll take your time to study how it works and how to make profits.
HYIP –Hyip means High Yield Investment Program. Just as it’s a high yield program, it can also be best described as High Risk Investment Program. It is a kind of online investment scheme where you deposit a certain amount of money and get paid a certain percentage daily, weekly, bi-weekly, monthly, yearly or after a period of time.
Almost all HYIP programs online are scam. The system has been abused by scammers to rip innocent money seekers off the little money they have. It is highly risky and NOT recommended. (The wonder Banks that once raided Nigeria is a good example of offline hyip. The difference is that they did not use e-currency).
SURFS – Surf is almost as risky as HYIP. There are Auto-surf and Manual surf. They pay you to visit websites for few seconds.
PTR – PTR means Paid To Read. This is an online money making scheme that pays your to read e-mails and surf sites. Many of them allow you to join free and then upgrade to cashout money. On a honest note, am yet to see anyone that really pays and can make you rich. Beware of those that ask you to pay so as to be paid.
MLM – Multi-level marketing (MLM), also known as Network Marketing is a business distribution model that allows a parent multi-level marketing company to market their products directly to consumers by means of relationship referral and direct selling.
Distributors earn a commission based on the sales efforts of their organization, which includes their independent sale efforts as well as the leveraged sales efforts of their downline. Commissions are paid to multi-level marketing distributors according to the company’s compensation plan. There can be multiple levels of people receiving royalties from one person's sales.
So many MLM company accept e-currencies. Examples of few MLM where I know that many Nigerians made so much money from are: GetAwayClub, Club Freedom, Diamond Cash Club, 22usd, easy2earn, etc.
However, to make money from MLM, you’ll really need to refer many people to the network. It only costs one-time membership fee to join. For good MLM to join, visit
www.naira4dollar.com.
Online Gambling/betting - Just as the name implies, it can be accepted by gambling and betting sites. Gamble/bet at your own risk!
E-currency Exchange –This is the most lucrative way of making money with e-currency. It is buying/selling and exchanging of e-currencies. It’s simply buying and selling of e-currencies. You can buy cheap somewhere and sell to others at a higher rate, sometimes with profit as high as N30/$. This is less risky compared to other ways of making money with e-currencies.
In Nigeria, there is steady demand for buying and selling of e-currencies since credit card is not common and many online merchants would not accept credit cards, paypal, MoneyBookes, click bank, etc from Nigerians.
Starting an e-currency exchange business is easier than many people think. You can start even from a cyber café. Just get free e-currency accounts, buy cheaper from any merchant in the world and sell at a higher rate. With time, you can get your own computer and internet connection, and a registered company. To succed in this, you need to create awareness so people will know your new business exist. A company to learn from is Sunej Global Ventures (Naira4Dollar) –www.naira4dollar.com.
And so many others.
WHERE TO BUY AND SELL E-CURRENCIES.There are many good e-currency exchange companies worldwide. There are also the fraudsters trying to rip people off their money.
In Nigeria, there are many registered e-currency exchange companies and many individual exchange companies. Just search for the ones reachable and reliable to you. I’ll only recommend Nigeria Leading E-currency exchange company for you. They’ve been in business since 2006 and are reliable and fully registered. I’ll recommend you to Sunej Global (Naira4Dollar). Their contacts are:
www.naira4dollar.com,
www.sunej.comorder@naira4dollar.com,
support@sunej.com08032537301, 02-7527673
27 Idi-ape B/stop, Opp Mr Biggs
Iwo Road Ibadan.
I really hope you enjoyed my little piece on e-currencies, if you need any help, you can e-mail or call me on
Naira4Dollar@yahoo.com 08032537301.
Please join Nigeria Business Forum –NBF and learn better ways to make money online. Visit
www.business-nigeria.com/join
. NBF