This brief article explains how you can set up, charge and use a Liberty Reserve account for making payments on the Internet (including our web page).

 

• It is available practically everywhere in the world, to nearly everyone
• It is, if you choose to pay a small fee, entirely anonymous, and almost entirely anonymous if you don't

Where there is light, there is shadow as well:

• You need to buy virtual currency from exchanges that has no guaranteed value
• The security provisions are ridiculously complicated

We still believe it's a useful means of payment for those who cannot use PayPal, Moneybookers, cashU or any others we offer, and it's a lot cheaper than using a bank wire.

 

You simply visit Libery Reserve's home page and click on "Create Account" (at the top of the page). All information that you need to provide

• Your first name
• Your last name
• Your email address

You also need to provide the answer to a security question; it is needed in case you forget your account details and need to recover them. Also, set a "personal welcome message" -- this can be anything, you are just asked to confirm that it's correct (and not some gibberish letters) everytime you log in.

The last thing you need to do on this page is enter the digits shown in the colourful field. The intention is to protect you from a man-in-the-middle attack. Of course, you'll also have to agree to their Terms of Service by clicking AGREE.

In the next step, your account details will be shown EXCEPT FOR THE ACCOUNT NUMBER. Please write down carefully what you see on this page(you'll need the password, the login PIN and the master key, and you should remember the answer to the security question).

Now check your email. You should receive your LR account number within a few minutes. Use this number and the password from above to log in on the LR web page (you can type the password on your keyboard or use the one on the screen). You also need to copy the four digits in the picture. Then click on NEXT.

You "personal welcome message" is now displayed. Confirm it by ticking the box, then click on CONTINUE. This takes you to your account overview screen. Now click on ACCESS MAIN ACCOUNT. You need to fill in the "login PIN", this time using the keyboard on the screen. After you have clicked on LOGIN you need to provide more details about you: an "account name" (which could simply be your name), your street address, your date of birth (which doesn't have to be correct but you need to remember what you put there) and your phone number. Choose the country code, then enter your phone number without any prefixes (e.g. 0 or 9 in many countries to dial numbers outside the local exchange) and spaces, dots, dashes or brackets. Then click on SUBMIT.

That's it! You now have a Liberty Reserve account.

 

Both are virtual currencies. LRUSD corresponds to US Dollars and LREUR corresponds to Euros. I say "corresponds" because it doesn't mean 1 LRUSD = 1 USD! It is meant to be used like this, i.e. if you want to pay with Liberty Reserve the merchant will usually ask for 1 LRUSD instead of 1 USD or 1 LREUR instead of 1 EUR (we do). But you won't be able to get 1 LRUSD for 1 USD, nor will the merchant be able to get 1 USD for 1 LRUSD. This is where the exchanges enter the game.

Please note that the main difference between the LR "currencies" and real currencies is that they have no "guaranteed value". There is no guarantor like an issuing federal bank, there is just Liberty Reserve -- and they won't buy or sell LR currencies, so they don't count. These virtual "currencies" are only worth as much as exchanges are willing to pay for them. I do not recommend keeping large amounts of these virtual currencies in your account for extended periods.

 

You need to buy LRUSD or LREUR from an exchange. Please ensure that you buy the right one -- some merchants only accept LRUSD while others only accept LREUR; we accept both so you can't go wrong.

On Liberty Reserve's page, click on "Buy/Sell LR" (left hand side). There is a list of exchangers for your reference.

For customers in Nigeria, we have collected a list of exchangers on our country information page.

 

 

Once you've charged your account, just log in to our web page and click on ACCOUNT. In the payment form, choose "Liberty Reserve" as the form of payment and click on Proceed. On the next page you are offered a choice between LRUSD and LREUR -- choose the one you have. Then click on the button, which will take you to LR's payment overview page where you can check the details of the purchase. If you are happy, click on LOGIN and enter your LR account number and your LR password. Also fill in the four digit code you see, then click on LOGIN. Confirm your "personal welcome message" and click on CONTINUE.

Now choose how you would like to pay. Most people probably just pay from their main account, but if you use LR a lot you'll probably want to look into how to use the wallet functionality. For now, just click on "Pay From Your Main Account". Type in your "login PIN" using the on-screen keyboard, then click on "LOGIN".

If you pay an extra fee (checkbox) we're not told who you are. It's up to you whether you think it's worth it. Now enter your master key via the on-screen keyboard and click on PREVIEW. Check your payment, and if you are happy with it click on "Confirm".

We learn about your payment via email -- this means it will take a few minutes until it is processed. Please be considerate, you should receive a confirmation email within 15 minutes but it can take up to one hour with some email providers. If you don't receive it, please check your account on our web page first -- the confirmation email might have been simply lost. If all else fails, contact support@your-freedom.net and tell them your user name and the package/voucher carnet number from the "merchant's memo" field if you know it. It also helps if you tell us your LR account number. Please do not include any passwords or PINs -- our support team will NEVER ask you for such things.