Friday, March 28

Payment Processor for You

Hello everyone,

It has been long time since I have wrote something about payment processors and many things are way different then when exactly 10 months ago Liberty Reserve was closed. This article will be suitable not just for the new investors who have just arrived and still can't decide what to use, but also for everyone else.


When we think about payment processors today then my regular readers have already noticed that I have introduced new abbreviation "Golden standard of 2014" with that I mean Perfect money, EGO Pay and PAYEER. Seems that every third or even second HYIP is using this combination, but of course out there is still many other payment processors, some of them are good, some of them are not that good. If you still have not chosen your payment processor then in this article you will find something for you.


Perfect Money?
Perfect Money for sure is the choice in every HYIP and if you can use it in your country then I would suggest to use it because it is the most convenient payment option today in HYIPs. It is very easy to exchange it everywhere without any pain. Only problem with it is that if you want to enjoy it the most you must do verification process and then payment fees will be 0.50% of your payment instead of 1.99% for unverified Perfect Money account. The reason why I suggest Perfect Money is because fees are paid by side who send the money, so you pay fee just once and from all the money what comes back there is no fee taken away. Sadly, but if you are from US then you can't use this payment processor, only way is if you install some VPN on your computer, but I think this "action" is not suitable for all the regular investors.

EGO Pay?
EGO Pay surely is the second or third most widely used choice among HYIP investors today, but I must say is not that attractive for HYIP investors. Problem with EGO Pay is when you invest you do not pay fee, but when you receive payments with EGO Pay there is no fixed fee. Fee what is taken away from you is 2% + $0.25 when you receive payments, so if you receive $1 then actually you get just $0.73 what is kind a sad because you loose a lot with this payment processor even in HYIP you are in profit. Also, they are banned for US investors and you can't use it over there. I have always thought in my mind - why someone is even using them, because fees are just too high, but somehow people still can't get that.

PAYEER?
If someone back in 2013 would say that in 2014 it will share second position together with EGO Pay I would not believe him, but today PAYEER is getting more and more stronger. There is not that much to say about it except it have low fees and I like it. I will not repeat what I have said, but some sort time ago I wrote article about success of PAYEER, and you can read it over here.

Solid Trust Pay?
I was thinking quite a long time, do I need to put this payment processor under section "What payment processors to ignore?" or not, but I decided that it can be here as well. Solid Trust Pay is HYIP payment processor with high fees and they are paid by receiver, I simply do not understand why someone is even trying to use them? You may say that it is safe and you can "get money back" when you loose it, but please reply me - have you ever heard that it has happened even a once? I have heard it exactly zero times and I see no purpose to use it, only purpose what I can imagine is that admins sometimes keeps paying Solid Trust Pay members longer because they can't really exchange it, but I think you loose more on fees then you gain if you get one more extra payment. There is also risk that Solid Trust Pay can block an account for HYIP and then it will just kill the project and will loose not just Solid Trust Pay investors, but also everyone else. Today, Solid Trust Pay asks for strict verification and it just just one step further to kick this disadvantageous payment processor out of HYIP industry. One discussion in TalkGold forum will say more about Solid Trust Pay then I said here, read it here.

OK Pay?
This would be the perfect choice among every HYIP because fees are low, they are the same as it was with Liberty Reserve and they charge 0.5% of payment, but not more then $2.99 what would make them good choice in HYIPs, but sadly they ask go through verification process what makes them not that popular choice among HYIP admins and only rare HYIP use it. There is one nice thing about OK Pay what you can surely use - they offer OK Pay Card what you can use like any other prepaid card, but this time you can load it with digital money.

Bitcoin?
I have said it before, when Liberty Reserve collapsed I thought that this is it - Bitcoin will start to take over the HYIP industry. Yes, today there is many programs what accept Bitcoin, but it is only because they have some custom script, we still need some time when we will see Bitcoin like main payment processor in HYIPs. Yes, Bitcoin you can use everywhere and there is only few countries where authorities say that using Bitcoin is illegal, but my question for authorities is - how you will check if individual is using it or not? There also one downside of Bitcoin - floating exchange rate what makes it hard to use it in most of the HYIPs, but I think it is just a matter of time when we will see HYIPs what accept just the Bitcoin. I wrote some more detailed article about Bitcoin previously, and if you are really interested about it then you can read it here.


What payment processors to ignore?
First of all you must ignore HD-Money, after Liberty Reserve collapse it had the possibility to become new Liberty Reserve, but owners did not did any moves and it died naturally. Yes, there was even talks that it was hacked, but I'm not sure about that. Anyway still there is some admins who try to use it and it is just crazy because you can't exchange it to any other currency, so all the money what you put on HD-Money wallet you have lost instantly. PayPal - if you see this payment processor is some HYIP - run away, do not invest a single cent over there because PayPal will block the account, money will be gone and HYIP will close faster then any other HYIP.



In the end I want to say that always take in mind fees, if you are using some disadvantageous payment processor for receiver like Solid Trust Pay or EGO Pay then calculate the fees with this calculator otherwise you will loose even by investing.

If someone would ask me to name top three of payment processors what I use then I would name Perfect Money in the first place, second place goes for Bitcoin, third for PAYEER. Yes, Bitcoin is in second place, because it is really easy and handy to use it, I hope after some time it will take over and land in fist place, but till that we will need to wait. Will it happen soon? I do not think so, but for now we can still enjoy "regular" payment options.

David
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1 comment:

  1. the big problem of bitcoin is that the value fluctuates, which means that when you withdraw your money from a hyip you end up with less then when you entered. I don't like it and I hope it doesn't catch on

    ReplyDelete

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