What is Liberty Reserve
What is Liberty
Reserve
Liberty Reserve is an account-based payment system
where you can store value in U.S. dollars 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!
Concepts
Account
It all starts with your account. This is where you
see your balance, history of transactions, security
features, private messaging, and all other features
of the website. Access to your account requires the
full spectrum of login and security details to be
entered.
Wallet
The wallet allows you to quickly access a dedicated
portion of your funds in Liberty Reserve using a
faster login procedure if you wish to pay someone
quickly. It is recommended that you keep only a
small amount of value in your wallet because the
security procedures necessary to access your wallet
are less than the security procedures to access your
full account. In order to transfer funds from your
account to your wallet, you will need to login to
your account, and do it from there. You are not
required to initialize a wallet, and are free to
make payments from your account without using the
wallet. This is an optional feature for your
convenience.
Once you have funds in your wallet, paying someone
is very easy and quick, with a faster login process.
e-Currency
E-currency, or digital currency, is a stored value
and payment system, usually account-based, that
allows users to store funds (such as Euro, USD, Yen,
etc., and metals such as gold, silver, etc., or
anything else of value for that matter). The main
feature of a digital currency is that spends
(payments) are irrevocable, unlike bank payments
(wires, checks), and other systems that have similar
features (online payments) but can easily reverse
payments, such as PayPal.
Digital currencies evolved as a need for merchants
to have an alternative to credit cards due to the
high cost of accepting credit cards (credit card %
fees and fraud). Merchants using digital currencies
get paid, and stay paid, lowering their costs of
operation, eliminating fraud, and pass on the
savings to their customers.
Balances
A balance is the total amount of funds or value that
you have in your Liberty Reserve account. It is
displayed on most pages within your account for your
convenience.
Security
One of the most important features of Liberty
Reserve is the security of your account. Passwords,
PIN's, stop account feature, and anti-keylogger (trojan)
login system are just a few of the security
precautions that Liberty Reserve has added to keep
your value safe and secure within your
Nothing works better, however, than your own due
diligence when it comes to security. Always use an
anti-virus for safe computing.
Working with Liberty Reserve site
Account registration
Creating an account is easy at Liberty Reserve.
Simply enter your details, such as your name,
account title, and address, etc., and you will have
a full-functioning, free Liberty Reserve account in
minutes. Remember to write down all the information
for future reference such as your Security Code,
passwords, account number, etc.
Logging in
Once you create a Liberty Reserve account, you may
access your account by logging in with your account
number, password, and login PIN in order to access
the value in your account and make payments, check
history, use the internal messaging system, etc.
Profile settings
Once you are logged into your account at Liberty
Reserve, you can click on "profile" and change your
account name, password, and other features, such as
email notifications.
Transfer
This feature allows you to send funds (make
payments) to any other Liberty Reserve account
instantly.
Withdraw
You can withdraw (redeem) value from your Liberty
Reserve account by using any number of independent
exchange providers listed on the Liberty Reserve
website. Usually, exchange providers will have an
account number starting with the letter, "x".
Exchange providers are not affiliated with Liberty
Reserve and your dealings with them are at your own
risk. We recommend that you only use exchange
providers that are members of the Global Digital
Currencies Association.
Deposit
You can deposit funds or value to your Liberty
Reserve account by using any number of independent
exchange providers listed on the Liberty Reserve
website. Usually, exchange providers will have an
account number starting with the letter, "x".
Exchange providers are not affiliated with Liberty
Reserve and your dealings with them are at your own
risk. We recommend that you only use exchange
providers that are members of the Global Digital
Currencies Association.
Internal messaging
Once you are logged into your Liberty Reserve
account, you can send private messages to anyone
else with a Liberty Reserve account. All you need to
know is their account number. You can also check
your message inbox to see if you received any
messages, and you can save messages. This is a
private, internal messaging system developed
exclusively for Liberty Reserve account holders.
