Browsing Category: "london gold exchange"
Vela Exchange saves me a lot of hassle…
When London Gold Exchange developed the new Global Digital Pay e-currency it upset Liberty Reserve to the extent that is no longer possible to buy or sell Liberty Reserve via London Gold Exchange.
For me that created something of a headache as I had gladly used London Gold Exchange to buy and sell Liberty Reserve for several years. The service was fast and efficient and as I could make deposits directly from my UK bank account it saved several intermediary steps.
I thought I would have to resort to using bank wires to an e-currency exchanger who would then provide the Liberty Reserve I needed.
Bank wires are effective but they can cost quite a bit especially if intermediary banks are involved and there is generally a time penalty involved whilst the system grinds its way through.
I decided that pain of bank wires was a bit much to bear so undertook to do some more investigation to see if anyone else was out there who could provide the same service as London Gold Exchange.
What I found was Vela Exchange. Here I could transfer funds directly from my UK bank account, obtain Liberty Reserve all at a reasonable fee. So it seems that once again I can rest easy knowing that my fund transfers will be quick and easy.
The Vela Exchange website is pretty basic and opening an account is very straightforward. You use an email address and password and you have to verify your details from an email sent to the named account. As with other processors you have to provide details of id and proof of address but this is pretty painless and they have live assist available if you run into problems. My account was setup within and hour and even though there was a problem with their online banking connection for a short while I transferred funds to my Liberty Reserve account very quickly, much faster than a bank wire would be.
So if you miss the convenience and efficiency of London Gold Exchange to buy and sell Liberty Reserve don’t despair as Vela Exchange is just as good (although the website is of a simpler design).
Global Digital Pay starts to build reputation…
When you invest online you will soon discover that moving money around can be time-consuming and complicated. Given the somewhat unusual nature of investments you are generally unable to make a deposit directly from a bank. And even if you are it can be very expensive with every party collecting a fee.
Since the very early days the need for middle men known as payment processors has created a somewhat more tolerable solution. Unfortunately not even these organisations have been immune from fraud or other illegal activity so it is increasingly important that when you open an account it is with a company you can trust.
Global Digital Pay is the latest company to enter the market and luckily for investors they have a very good pedigree. Based in Hong Kong this BVI registered company has links to the highly respected London Gold Exchange (LGE).
I’ve used LGE over a number of years and have always been extremely pleased with the service they provide. I can make deposits directly from my bank account and know that the funds will appear in my chosen processor immediately afterwards.
In a similar vein I’m sure that Global Digital Pay will be as successful and efficient. Joining is straightforward and like other similar financial institutions there is a verification process to go through which can all be done online.
There is some fairly stringent security measures in place and whilst this requires the odd extra step it does provide a greater degree of assurance that your transactions are secure.
There are a whole host of exchangers to use so it shouldn’t be difficult to fund your account. You can denote your account in US$, GBP and Euros.
All in all Global Digital Pay will become a very important part of the online investing community.
London Gold Exchange service in overdrive…
One of the more frustrating things about online investing is the general need to make deposits via web based payment processors. Admittedly some programmes allow you to pay by bank wire but this can be expensive.
So, accepting that payment processors have to be used how do we get our funds to them. Personally I use London Gold Exchange and have done for several years. They are reliable and their delivery seems to speed up every time I use them.
For example, I needed to transfer funds to a payment processor account last week. I logged in to London Gold Exchange and set up a payment to my payment processor account. Then, I logged into my online bank account and arranged an electronic payment to London Gold Exchange. Next I emailed my payment details to LGE. In total it took me about 10 minutes to do all this.
I was pleasantly surprised to receive emails from both London Gold Exchange and my payment processor to confirm that the transaction had been completed within six hours of starting. Kudos here to both my bank and LGE for making this work so quickly and smoothly.
If you are thinking of venturing into the world of online investment then I’d highly recommend London Gold Exchange to be part of your portfolio.
If this post sounds somewhat biased then I’ll put my hand up to that but I feel that great service deserves to be acknowledged.
So, accepting that payment processors have to be used how do we get our funds to them. Personally I use London Gold Exchange and have done for several years. They are reliable and their delivery seems to speed up every time I use them.
For example, I needed to transfer funds to a payment processor account last week. I logged in to London Gold Exchange and set up a payment to my payment processor account. Then, I logged into my online bank account and arranged an electronic payment to London Gold Exchange. Next I emailed my payment details to LGE. In total it took me about 10 minutes to do all this.
I was pleasantly surprised to receive emails from both London Gold Exchange and my payment processor to confirm that the transaction had been completed within six hours of starting. Kudos here to both my bank and LGE for making this work so quickly and smoothly.
If you are thinking of venturing into the world of online investment then I’d highly recommend London Gold Exchange to be part of your portfolio.
If this post sounds somewhat biased then I’ll put my hand up to that but I feel that great service deserves to be acknowledged.
3 steps to online investing success…part 2
In the second of our three part series on what it takes to begin investing online I’m going to focus on some of the mechanics that you will need to follow.
The very first thing you should do is think! Not too hard then? Yes you need to decide on what approach you will take. Do you want to have a totally passive income, are you willing to market opportunities to others, would you be willing to spend some time in front of a computer every day to complete various tasks and perhaps most importantly what will you do about the tax on any earnings you make.
Addressing the last point first (as it’s important) it may pay great dividends to spend some time setting up your tax status before anything else. If you are looking to minimise your tax liability (legally of course) then take a look at Sovereign Life otherwise make sure that you make allowances by saving some of your proceeds for any taxes that become due. If you are able you should take full advantage of existing tax laws in your country so that you pay your taxes as late as possible. You won’t avoid them but hopefully you can use the funds to earn interest whilst they are available to you.
The next thing you should do is open an payment account. In the very early days of online investing credit card companies were happy to be used for providing funds to various programs. It soon became clear however, that crooks saw the opportunity provided by credit card companies to undertake charge backs that created fraudulent transactions. As a result it is now almost impossible to use credit cards for these types of program. Below I explain one way that this is now partially overcome.
Hence the need for an payment account. Some of the popular ones are AlertPay, Liberty Reserve and c-gold. Which one you choose will depend upon personal circumstances and how you can fund them. Also, online programs often dictate which payment options they take so you could end up with having an account with each of them.
As a start AlertPay is one that you should look at. Firstly it has the ability to accept direct payments from your bank (please check to make sure that this is available in your country as there are some restrictions). Also, when your account is validated you are able to associate two credit cards with your account. This allows you to send payments to programs and pay by credit card. Note that there is a limit of $250 per card per month currently so it may not be suitable for all your needs.
If you need to purchase Liberty Reserve or c-gold you will need to use the services of another third-party company and again there are many to choose from. Market leaders in this field are London Gold Exchange and Eforexgold.I would recommend London Gold Exchange as they have been in business for many years and their processing is very fast. If you live in an appropriate country you can also set up your account to make payments directly from your bank account.
As with all online transactions nowadays you should be prepared to provide verification of your details to all of these companies as without it they cannot do business with you. Also, remember that they are in existence to make a profit so you will be charged for their services. It’s important to build these charges into your calculations when determining how much to invest.
In our final post we’ll take a look at the various types of program available and how someone who is just starting out might begin.
