Liberty Reserve is a relatively new, but popular payment processor strong enough to compete with giants like E-Gold. It currently supports two major currencies - LRUSD (U.S. dollars) and LREUR (euros).

This processor is as anonymous as E-Gold and doesn't require you to enter your real name or address while registering. Furthermore it offers a private payment option which allows sending payments anonymously without revealing the sender's account number to the recipient.

Although it claims to operate since 2002, it only started to gain its popularity in the summer of 2007 when E-Gold started a mass blocking of its customers' accounts under the pressure of the U.S. government. Liberty Reserve S.A. is incorporated under the laws of Costa Rica and is an off-shore company out of reach of the U.S. authorities which prevents it from having problems similar to those of E-Gold.

Since then LibertyReserve became very popular because the administration of the world's former leading e-currency for HYIPs - E-Gold, officially prohibited to use their system for participating in them, whereas LR does not prevent HYIPs from functioning. Now LR is the main e-currency for HYIPs and holds this position despite the tough competition.

How to open a Liberty Reserve account

To start creating a Liberty Reserve account follow this link: http://www.libertyreserve.com/?ref=U3249791 and click on "Create Account" in the upper left corner.

This link leads you to the E-mail verification page. Enter an E-mail address you would like to use with the system in the upper two fields and click "Submit". A notice stating "Your account activation code has been successfully sent to your e-mail: should show up and you should get an E-mail with the activation code that should be entered in the lowest field on the E-mail confirmation page. Click "Next". You will see a registration form divided into several sections.

ATTENTION! All the fields should be filled out in English and you may also use numbers.

In the "Account Information" section enter your account's name in the "Account Name" field (e.g.: John123). Account names are shown when you send or receive payments. The "Referred byb" field shows your referrer's account number.

In the "Security Information" section you should enter information that limits access to your account and increases security.

"Password" field: enter your desired password for account access (you may use the on screen keyboard).
"Re-enter Password" field: enter your password again (you may use the on screen keyboard).
"Login PIN" field: enter your desired PIN code for account access (you may only use the on screen keybord).
"Re-enter Login PIN" field: enter your PIN code again (you may only use the on screen keyboard).
"Security Question" field: chose a secret question from the drop-down menu or use the
"or write your own" field to enter a question of your choice. You will need the answer in case you forget your password.
"Answer" field: enter the answer to the secret question here. "Personal welcome message" field: enter a personal welcome message that would appear every time you access your account.

In the "Personal Information" section you have to enter your contact details.

"First Name" field: enter your first name (e.g.: John).
"Last Name" field: enter your last name (e.g.: Smit).
"Company Name" field: enter your company's name (you may leave it blank).
The "E-Mail" field should show the E-mail address where you received your E-mail activation code.
"Address" field: enter your street ant the house number (e.g.: Street 1).
"City" field: enter the city you live in (e.g.: Los Angeles).
"Country" field: chose your country of residence from the drop-down menu (e.g.: United States).
"State/Region" field: chose a state or enter "N/A" if you live outside U.S. (e.g.: Colorado).
"ZIP/Postal Code" field: enter your ZIP/Postal Code. It could be any number (e.g.: 123456).
"Phone" field: enter your phone number (e.g.: 456123789).
"Date of Birth" field: chose your birth date with the mouse. Note that the date is in the mm/dd/yyyy format (e.g.: 01.11.1985 for the 11th of January 1985). Don't forget it if you don't enter your real birth date, you will need it to gain access to your account should you lose it. You must agree to the Terms of Service and press "Agree".

If you made everything right you should see a short summary of the data you entered. Make sure you write down the info from the red "Account Number" (your LibertyReserve account number) and "Master Key" (confirmation code for all transactions) field or copy the image with this info to your hard drive as it won't be sent to your E-mail address.