1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

liberty reserve

Discussion in 'Business & Tax Advice' started by dknauf90, Jul 26, 2011.

  1. dknauf90

    dknauf90 Registered Member

    Joined:
    Jul 14, 2011
    Messages:
    67
    Likes Received:
    9
    Occupation:
    extensive portfolio
    Location:
    In my reality, y'all are just visiting
    i cant wrap my brain around this for some reason, can someone explain what liberty reserve is and how it actually works? is it a payment processor/merch account?

    say i collect payment for selling verified ac counts through paypal.. i can then send it through liberty reserve and collect the money anonymously somehow? or am I actually able to receive payment using liberty reserve?

    liberty reserve is an eccurency? funded by real monies? so I cant filter something through to being anonymous by say using stealth pp to cash out on my own LR account and then collect anonymously rite?
     
  2. SilverKnight

    SilverKnight Power Member

    Joined:
    May 31, 2011
    Messages:
    596
    Likes Received:
    52
    LibertyReserve is an independent payment processor just like PayPal and AlertPay. However, it can be used to send/receive payments anonymously and it does NOT require any kind of verification whatsoever. You can have multiple LibertyReserve accounts at the same time but from different e-mails (yes, it's allowed). It does NOT have any chargeback option. Once you send payment to a LibertyReserve account, it CANNOT be refunded under any circumstances. Funding and withdrawing money from LibertyReserve is a bit complex - you will need to use exchangers but if you can send bank wires then it's easy.
     
  3. kralcx

    kralcx Junior Member

    Joined:
    May 25, 2010
    Messages:
    164
    Likes Received:
    49
    liberty reserve is a lot like e-gold used to be
     
  4. dknauf90

    dknauf90 Registered Member

    Joined:
    Jul 14, 2011
    Messages:
    67
    Likes Received:
    9
    Occupation:
    extensive portfolio
    Location:
    In my reality, y'all are just visiting
    i asked customer service if it was a payment processor and he kept saying no, it was a currency.. if I used it as a payment processor, people wouldnt be able to pay me via paypal would they?
     
  5. SilverKnight

    SilverKnight Power Member

    Joined:
    May 31, 2011
    Messages:
    596
    Likes Received:
    52
    I don't know the difference between payment processor and e-currency. I think they're the same thing. And no, people can't pay you through PayPal. In order to receive money in your LibertyReserve account, the other person must have a LibertyReserve account to send from.
     
  6. dknauf90

    dknauf90 Registered Member

    Joined:
    Jul 14, 2011
    Messages:
    67
    Likes Received:
    9
    Occupation:
    extensive portfolio
    Location:
    In my reality, y'all are just visiting
    payment processor is someting like plimus or 2co or paypal