NewGNI as one of the industry leaders offers its own solution to the problem with Liberty Reserve, which is currently offline for 3 days already. Another problem about Liberty Reserve is the massive customers' account blockage, which raised many complaints and furious reports from the owners of accounts. The thing is that Liberty Reserve can be considered as the leader in the industry of payment processor and any trouble that occurs with it causes panic and a wave of dissatisfaction from the customers.
As a step towards its clients NewGNI is offering an option to make the currency conversion within the member's area on the NewGNI website. I am now talking about internal exchanges from Liberty Reserve to Perfect money or SolidTrustPay. This option has been introduced to give investors the choice to withdraw earnings in Perfect Money or SolidTrustPay, once Liberty Reserve is in trouble.
The latest newsletter from NewGNI includes the How-To Guide on how to proceed with conversion of Liberty Reserve to Perfect Money or SolidTrustPay. Please take a look below for the Guide quoted:
1. On the left side of the members under 'Main Menu' you will find the link to our 'Currency Manager'.
2. After clicking on it you will find yourself on a page, showing your current account balances.
3. On the lower part, next to 'Exchange From', you'll find pull-down menus for the Currency to exchange from. You should select Liberty Reserve here, all other directions are not possible.
4. Next to 'Exchange To' you can choose, if you like your funds exchanged to SolidTrust Pay or to PerfectMoney. You can also choose if you like your funds exchanged to your Cash Balance to withdraw to your payment processor, or to the E-Wallet for re-investing.
Enter your secondary password and click on 'Convert Currency'. You are done and your funds will immediately reflect in either your Cash Balance or your E-Wallet. You will also be notified by email, once the transaction is rendered.
Please keep in mind the exchanges completed are subject to transaction fees to be applied.
The exchange fee for LibertyReserve => PerfectMoney is set to 7%
The exchange fee for LibertyReserve => SolidTrust Pay is set to 5%
The fees are rather adequate, taking into account the current market conditions. The admin of NewGNI reserves the right to change the fees whenever without prior notification.
There is also more notification important for Liberty Reserve investors, willing to complete the exchange. Once there are any pending withdrawal requests, one should cancel it and then proceed to the exchange procedure, according to the Guide above.
The final notice in the latest newsletter from NewGNI reminds about the August 2012 Sweepstakes giveaway contest, taking place every month, cause the year of 2012 has been announced as the year of Giveaway. This month 3 iTunes Gift Cards are at stake. The competition ends at noon (GMT) August 31st.