Make money exchanging e-currencies online

Posted by Felix Okoli on Saturday October 22, 2011 16:24:34:

It's one thing to be able to send and receive money online and another to be able to make money doing so. There are already a lot of ways to send and receive payments online in Nigeria and this includes Liberty reserve, Alertpay, Western union and so on.

Now in this issue, I want to show you how you could easily make money just by buying and selling e-currencies or digital money.

What is an e-currency? Well it literally means electronic currency. It represents all forms of electronic money that can be stored online and transferred from one person to another.

When it comes to making money just by selling e-currencies, I'm referring to currency swapping which has to do with exchangine one form of payment or money for another. If someone for instance wants to fund his Alertpay account and he has liberty reserve funds, you can help him completed the process if you have funds in your Alertpay account. Now a lot of people are doing this for profit and all you need to make profit is just add a bit of percentage to the amount you are offering. You may even offer the exchange for free if you want but most sellers tend to get at least a little profit from it.

If the person for instance is offering $100 Liberty reserve funds in exchange for Alertpay funds, you may then decide to accept the offer if he would take maybe $95 of Alertpay funds. Now that is a 5% profit

In Nigeria, there is not much access to a wide variety of funds so we are limited to currencies such as Alertpay, Liberty reserve, Western union(Receiving) and some others.

The popular one would have to be between Alertpay and Liberty reserve and you could just make some profit by offering and exchanging such.

It works like this:
- You register with an e-currency exchange site like exchangezone.com
- Get verified if possible
- Make your offer and accept bids, keeping in mind your profit
- The other party accepts your offer and deal is secured
- The buyer sends the money first to the exchange platform as a third party - In this case it is the Exchangezone.com
- The seller sends the agreed currency
- The buyer confirms receipt of the e-currency to EZ
- EZ now tranfers your funds to the seller.

You should also read some rules and helpful tips for safety by your exchange platform as some buyers or sellers are known to be fraudulent so you also to protect yourself.

The idea is to exchange e-currency for profit and you could do it over and over again and you would make lots of money. One tip is to deal only with verified members for security reasons and to also not trade too high volumes.