From past experience, every collapsed digital currency exchanger displays signs of distress a long time before it finally collapse. The problem is most people don’t see these signs, while others who see them don’t know the implications of these signs. Below are signs are signs experts advise you to watch out for to determine whether a payment system is appropriate or inappropriate for you:
==> Avoid any system that is not licensed by appropriate government agencies, it means it is not regulated. As a result, someone or few individuals can determine what happened to your money without you getting any help from anywhere.
==> Avoid any payment system that looks for every means available to avoid government regulated banking institutions. It means it doesn’t want anyone to know what is going on it its system which is dangerous, because such money can be used for illegal services, including funding of terrorism.
==> If the system wants you to operate anonymously while asking you to put in your money in the system, stay away from it. The day trouble will set in, it will be hard for you to prove that you are the owner of your money.
All along, Liberty Reserve exhibited all these signs, but many people, mostly out of ignorance, risked their hard-earned money to such payment platforms by not keeping sums of money in your accounts on such payment systems. This strategy worked perfectly for me as I just had $15 in my account when Liberty Reserve was shut down, despite the huge volume of transactions I used to carry out using the platform. Considering the number of customers I services, you can imagine how much would have lost but for this strategy.
I help people pay for digital products, goods and services online through Paypal, Payza and Liberty Reserve, but I do not leave much of my funds in the system.
My Advice:
My advice is that, do not leave a huge amount of money you cannot afford to lose in any online payment system, since whether the system stays or not is beyond your control. Also, be sensitive enough to discern a system infiltrated by criminals and do your best to find a better alternative. Some of my friends who were big exchangers on Liberty Reserve left the platform long time ago as if they knew what was coming. Some left 2 years ago. So, you have to be sensitive and avoid problems you cannot handle. Do no store money you cannot afford to lose.”
My advice is that, do not leave a huge amount of money you cannot afford to lose in any online payment system, since whether the system stays or not is beyond your control. Also, be sensitive enough to discern a system infiltrated by criminals and do your best to find a better alternative. Some of my friends who were big exchangers on Liberty Reserve left the platform long time ago as if they knew what was coming. Some left 2 years ago. So, you have to be sensitive and avoid problems you cannot handle. Do no store money you cannot afford to lose.”
I hope this Info helps, share and pin all over your social media. My Upcoming post will be on “Safe Alternatives To Liberty Reserve You Can Use. So, keep your eyes on This Page.
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