Actually, in internet we use digital currencies and most of the times people ask me whether they are safe or not in using online payment processes. Few years back I had different views and now my mentality is little bit different, Three years back I confidently said to most of my friends that online payment processes are reliable and it is easy for us to use without any restriction.
But suddenly everything has changed when we heard about the shutdown of Liberty Reserve payment process. One of the biggest payment process in online disappeared in few second with billions of dollars into their pocket. That was really a huge shock for not only for Forex traders but also many Freelancers that I know. My favorite online payment process collapsed not because of our fault because of their own faults. Actually Liberty Reserve doesn’t follow some rules and regulations which were mentioned by investigating authorities (according to news resources).

Many online earners who were relying on this popular payment method got devastated and really disappointed. The effect was more severe on many people because most of the people lost huge amount of money as they seem it is a reliable payment process. So, nobody would think that one day this payment method will be disappeared and ultimately they lost everything. I know many Forex traders and online worker who lost huge amount of money because of using LR.
By the way, do you know why this happened? Because, LR payment processor was not following any rules and also it was not regulated. It is really unfortunate that I’m talking about a payment process which was my favorite online payment system few years ago.

Whatever, now I have determined not to use any online payment process which is not secure at all. So, now I prefer to use regulated payment processes only. In a regulated payment process we don’t need to be panicked because our money is in safe hands. It is also good to use those regulated payment processes which also provide direct bank transfer facility. It is really a great and convenient way to use such regulated payment processes.

In addition, sometimes regulated payment processes asked you to verify your identity. Then, you need to submit few required documents, like your national ID card, driving license, bank account and electric bill. In my opinion, if you are using such payment process and still not verified your account then do it as soon as possible because of your own security.