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Article
Liberty Reserve 
Published 2009/4/10
Article Rated: 8.06
11.9 star rating (17 votes)
Liberty Reserve is an account-based payment system where you can store value in U.S. Dollars, Euro or Gold Grams and transfer payments to others and receive payments from others. It is safe, reliable and confidential. Payments are irrevocable (meaning they cannot be reversed). Liberty Reserve is instant, real-time currency for international commerce. In just minutes, you can send and receive payments from anyone, anywhere on the globe!

Since May of 2006 Liberty Reserve was acquired, founded in 2002, has provided its own digital currency payment system for customers, exchangers and merchants. Liberty Reserve's goal is to develop an easy and affordable payment option with lower fees avoiding all the bank limitations that it might take time.

Buying or Selling LR
Liberty Reserve, as a Costa Rican Corporation, allows its customers to transfer payments or receive payments worldwide. As Liberty Reserve does not have a direct contact with its customers, customers must buy or sell by contacting an accredited exchanger listing in the Liberty Reserve website. There are a variety of payment methods such as bank wires, credit cards, check or digital currency that most of the exchangers accept for funding customer accounts. One customer advantage is to sell or buy instantly and privately without giving any financial information. According to its website, the exchangers and the merchants work independiently.

Regulation
Liberty Reserve is backed up with USD dollars and EURO in Costa Rican government owned bank ruled by local law.

Security
By reading the term of policies, customers are warned that all payments are irrevocable, unlike bank payments. Liberty Reserve guarantee security to its customer by using the following features: a personal password, a login pin, a stop account feature and a welcome message every time an account is opened.
Additionally, Liberty Reserve keeps warning its customers no to open any fake website or provide any personal information, due to the fraudulents sites and con artists. Moreover, customers are free to ask all their doubts in its chat live in case they find a strange email from an unknown source, asking for investing money or important details about customer's account. Taking into account that there are a lot of Auto-surf, High Yield Investment Programs (HYIP) called Ponzi schemes which can steal customer money easily, all these transactions are made under customer's responsability.

The official site:
According to Goldexpay.com, “the only official source of information is Liberty Reserve blog” where users can access easily after going to the main website www.libertyreserve.com. While reading, users can know about the Liberty Reserve's plans which “are involved in many activities to promote culture, environment, safety, security”as Goldexpay.com reported.




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