Liberty Reserve is an e-currency for easily making and receiving payments for goods and services over the internet. Once you open your Liberty Reserve account, the next step is funding it. Liberty Reserve SA does not sell the LR e-currency directly; rather you fund your account by buying the e-currency from other LR account holders or funding through an independent Liberty Reserve exchange provider. Here we will provide information about some Nigerian based Liberty Reserve exchange providers. We will focus on Liberty Reserve exchangers who are members of the Global Digital Currency Association (GDCA) and those recognised at the Liberty Reserve website.
open your free Liberty Reserve account
Liberty Reserve independent exchangers are people or companies that buy or sell LR e-currency for a fee. Liberty Reserve exchangers make funding your LR account easy because they support a wide range of remittance methods (bank wires, money orders, cash, bank deposit, credit/debit card, PayPal, Western Union and lots more). If you can find an independent Liberty Reserve exchanger in your country, you may be able to buy LR e-currency with cash deposits in local banks or even over the counter. For example, most LR exchangers in Nigeria accept cash deposits (Naira) in bank to fund your Liberty Reserve account.
Note that independent exchangers as their name imply are independent and are not under the control of Liberty Reserve SA. However, Liberty Reserve SA recommends that you deal with LR exchangers that are members of the Global Digital Currency Association (GDCA). GDCA monitors, ranks, and rates e-currency exchangers who are its members. Hence dealing with Liberty Reserve exchangers who are members of GDCA is better and less risky. A number of Nigerian LR exchangers are members of GDCA.
Remember, you must have a Liberty Reserve account before you can buy the LR e-currency. Opening an account is easy and free; you simply fill out the application form and login to your account to activate it. Once this is done you can buy or sell Liberty Reserve. Most exchangers in Nigeria now require verification before they can do business with you. This is in line with the CBN’s ‘know your customer’ directive. Depending on the Liberty Reserve exchanger, you may be required to provide an ID (International Passport, Driver’s License, National ID), Passport sized photo, and proof of address (Electric bill, Water bill, recent bank statement).
Recognised Liberty Reserve Exchangers in Nigeria
You can exchange Liberty Reserve from any account holder. But if you have no friend to buy from, there are independent Liberty Reserve exchangers who specialise in buying and selling the LR e-currency. Here are a few of them. Note that this is not an endorsement of these services. We will focus on Liberty Reserve exchangers who are members of the Global Digital Currency Association (GDCA) and those recognised at the Liberty Reserve website. These Liberty Reserve exchangers will take between 6 to 48 hours to fulfill your order.
Africash International
Africash International deals in a number of e-currencies. In addition to buying and selling Liberty Reserve, Africash International also deals in AlertPay, PayPal, Webmoney, etc. One thing that we like about Africash International is that you require no verification if you are buying Liberty Reserve of value less than $500 (N85,000). This is great if you just want a fast one time payment into your Liberty reserve account. Africash International is a member of the GDCA.
website: www.africashinter.com
Buy rate $1 Liberty Reserve: N170
Sell rate $1 Liberty Reserve: N160
epayment service
epayment service is one of the leading e-currency exchangers in Nigeria. They deal in numerous e-currencies, namely Liberty Reserve, c-gold, AlertPay, WebMoney, etc. epayment service offers one of the most competitive rates of exchanging Liberty Reserve and other e-currencies. To deal with epayment service, you have to register and complete your verification. This is for one time only and will speed up future transactions. Epayment service is a member of the GDCA.
website: www.epaymentservice.net
Buy rate $1 Liberty Reserve: N155
Sell rate $1 Liberty Reserve: N170
e-naira
e-naira is a member of GDCA and is also recognized at the Liberty Reserve website as an independent LR exchanger. Unlike the two e-currency exchangers above that deals in numerous e-currencies, e-naira seems to exchange only Liberty Reserve. In line with CBN directive, e-naira requires you to do a one-time verification before you can buy or sell Liberty Reserve.
website: e-naira.com
Buy rate $1 Liberty Reserve: N166
Sell rate $1 Liberty Reserve: N150
epaymonster
epaymonster is one of the e-currency exchangers reconised at the Liberty Reserve website. Like e-naira, epaymonster seems to exchange only Liberty Reserve. To deal with epaymonster, you need to complete your one time verification.
website: epaymonster.com
Buy rate $1 Liberty Reserve: N170
Sell rate $1 Liberty Reserve: N150
Instant Gold Nigeria
Instant Gold Nigeria is recognised at the Liberty Reserve website as a currency exchanger. To deal with Instant Gold Nigeria, you have to register and complete your one-time verification.
website: instantgoldng.com
Buy rate $1 Liberty Reserve: N168
Sell rate $1 Liberty Reserve: N157
Gold Naira Exchange
Gold Naira Exchange does not sell Liberty Reserve. They only buy. So you can use their service only when you want to sell/cash your Liberty Reserve e-currency. They are recognised on the Liberty Reserve website.
website: goldnairaexchange.com
Sell rate $1 Liberty Reserve: N150
Note: The buy rate is the rate at which the exchanger sells Liberty Reserve to you, while the sell rate is the rate at which the Liberty Reserve exchanger buys the e-currency from you. The rate quoted is true for January 30, 2011. Rate may change without being reflected here. So, only rates on the Liberty Reserve exchanger website is valid. Note that when buying or selling Liberty Reserve from an exchanger the Liberty Reserve transaction cost and the LR exchangers fee will be paid by you. So make sure you account for them when filling your order with the Liberty Reserve exchanger.
Note also that Liberty Reserve charges 1% transaction fee limited to $2.99 each time you receive the Liberty Reserve e-currency in your account.
open your free LR account
Need more information? Visit the Liberty Reserve website for more information.
Liberty Reserve Links
- Liberty Reserve website
- Liberty Reserve FAQ page
- Understanding Liberty Reserve
- Using Liberty Reserve Wallet
- Liberty Reserve Independent exchangers (GDCA members)
