E-Currency Exchange Business - How to Become an e-Currency Exchanger and Make money online

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E-currencies are also known by many as virtual or digital currencies. In the field of online business, they are widely used by so many merchants to conduct their businesses over the internet. Mainly, they are denominated in virtual dollars and are used to store financial and monetary values. Thus, merchants can fund their e-currency accounts through e-currency exchangers and run their online businesses smoothly. And for rendering such services, the e-currency exchange portals make a lot of money and profits.

Notable e-currency portals otherwise called online payment processors existing on the internet today includes the likes of PayPal, PayZa (formerly known as Alertpay), Perfect Money, Webmoney, Payoneer, Skrill and many others. These portals accept real time funds from the users of their portals and credit their accounts with the corresponding virtual dollar or pounds (and other currencies as the case may be) values and then, provide them a framework through which they can make payments for goods and services or even receive funds to and from supported online portals. For instance, if you want to fund your Forex trading account, you can do that using your Perfect Money funds and if you want to withdraw your earnings from sites like MyLikes or Fans2Cash, you can comfortably receive your earnings through the Paypal payment processor.

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Now follow me logically. If you receive money into any of these accounts, it is still in a virtual form. For you to convert it into physical cash, you have to sell your balances to an e-currency exchanging service provider. They will buy the virtual dollars from you, you will transfer it into their own account with the portal and you will be paid cash by them so that you can withdraw the money through your Banks and ATM outlet. On the other hand, you can add more funds to your e-currency account either by selling goods to a customers who will pay you through that payment processor or by buying the funds from an e-currency exchanging portal. They will sell you the virtual dollars by transferring the requested sum into your account and you will pay them the corresponding real cash amount for doing so.

I hope you are flowing with me. Thus, it is in the light of these discussions so far that I will define e-currency exchanging service as the business of buying virtual currencies at below than average prices and selling them at above than normal prices such that the difference between your buying and selling prices will represent your profits. If for instance you open an account with Paypal, your initial balance will stand at $0 because you have not funded it.
If you sell products, render services or accept donations online from other Paypal users, your funds will increase and you can convert such funds into real cash either through your Debit and Credit Cards or through e-currency exchangers. Thus, you will transfer their funds into their own Paypal account and they will pay you the corresponding amount in your country"s local currency. Also, if you need to put money into your Paypal account, you can do so using your Bank fund cards or through e-currency exchangers by paying them a matching cash so that they will transfer the virtual Paypal funds into your account. It is as simple as that.

Assuming a Paypal Dollar is worth N200 Nigerian Naira and you want to exchange your Paypal $100 for real Naira cash with an e-currency exchanger, it means that he will buy it from you at a price lower than N200 so as to enlarge his profit margin. If he decides to buy from you at N195 per dollar, it means that you will get a total of $1000 x N195 which is N195,000 only into your bank account. Also, if someone wants to buy the $100 from the exchanger, he may buy it at N205 per dollar. Thus, he will pay the exchanger a total sum of $1000 x N205 which is N205,000 only in order to have his Paypal account funded with the virtual dollars. By so doing, the e-currency exchanger has made a profit of N10,000 from the execution of this deal.

The more the volume of the currency to be exchanged, the more gains you make as an e-currency exchanger. Remember, the currency rate fluctuates with the global economic trends and the currency prices also varies from one exchanger to another. So take a very good note of this.

This business model is 100% legal and you can set it up with a very little start up capital and start making your money. Register accounts with popular online payment processing portals like Paypal, Payza, Payoneer, Skrill, Webmoney and Perfect money. Once you do that, secure your login and account management details properly so as to avoid loosing your funds to cyber criminals. Guard them jealously! Then, proceed to fund these accounts by buying the virtual currencies at lower than average selling prices from the users of the respective portals who wish to exchange their funds for real cash. Make sure that they transfer the funds to your first before you pay them the complete amount as agreed. Please deal fairly with your clients and customers so as to make yourself a trustworthy and reliable person in the business.

Now, it is time for you to start selling your funds, advertise your business to your target customers including online shoppers, online business merchants, flight bookers, hotel bookers, online game players, FOREX traders, online fund donors and many of them. As they come and demand for your services, sell your currencies to them according to the volumes that they want. As a starter, you may not be able to offer these currencies in big volumes so you may just target small merchants for a start and get big time dealers as your grow your money with time. Make sure they pay you before you transfer the funds to them so as to ensure security of your funds. Sell to them at prices slightly higher than the average value of the currency in question just like I have explained earlier. The difference between your currency purchase price and the selling price represents your profit margin. The more currencies you trade, the more money and profits you make from this business.

Also, you may need to create a website for your business so as to look more professional, reliable and trustworthy in the eyes of your customers. You may also be requires to acquire some online certificates, licenses and web trusts before you can start doing this business. It varies from location to location, so make appropriate inquiries from other e-currency exchangers and find out if it is necessary for you to do so.

Bear in mind that the different payment processors whose currencies you deal with can be closed down anytime by the authorities that established or authorized them as a result of breach of agreements or illegal dealings. This have been seen in the past and many affected e-currency exchangers lost their money in the platform and liquidized their e-currency exchanging businesses as a result of their insolvency. A few years ago, the case with the Liberty Reserve payment processor was a much celebrated case. Many merchants and exchangers lost their lifetime savings there when the company was forcefully closed down by the government after a legal action was instituted against the management team for fraudulent activities.

So always be on the alert. Monitor the portals and read the latest news about them so as to know the best time to buy or sell off your currencies with them. Pull out whenever the market becomes too risky and invest back when the market becomes stabilized once more. This will help you to a great extent to avoid some unnecessary losses and propel your business profitably into the future.

For more information on this business model, please I will advise you to make further researches using the Google search engine or better still, consult an expert e-currency exchanger who is well experienced in the field so that he can put you through, guide and equip you with the professional tips that will help you to set up this business and manage it for maximum returns and without headaches.

Ask me your questions and also send in your suggestions about this post using the comment box below and I will give you the needed assistance and support. Other readers here will also be glad to help you. So share your opinions with us.

Get more information and tips on how to make money online and through many other profitable business models by visiting this blog everyday to read my new and already-published articles.

This is a life-changing blog. I hope to change your financial status from a state of distress to a level of super success as soon as possible!

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