vandra

Is the E-Currency exchange business profitable anywhere?
Several vendors sell materials, e-books etc concerning this business as if it is a viable enterprise.

Garage Logician

Congratulations vandra on your first post. Glad you joined in. So far as DXSynergy/GDT type ecurrency exchanging being profitable - no. The site has been off line for some time now.

I do not know of any other ecurrency exchanging systems but that does not mean there are none. If there are I would expect others would be discussing it in these forums.

Until there is proof otherwise it is not viable unless you consider selling that stuff as being viable. If I am wrong I will be very pleased to be corrected.

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CuriousGeorge

At the present time, there does not seem to be much of a market for this in a commercially viable fashion. Small exchanges of a few hundred dollars, possibly, but where would you "center" your business?

For example, most countries insist on KYC (Know Your Customer) laws being followed. In many cases specific municipalities insist on you being registered as a money exchanging business with strict oversight and enforcement.

Unfortunately, those that tend to use e-currencies the most are the very same people that believe very strongly in privacy, and they are not going to comply with KYC statutes.

Additionally, moving larger sums of money can be problematic and expensive as you re-balance your various accounts. Oh, and lets not forget, there is a seriojus level of risk involved. Just a few to mention: EMO, NetPay, eBullion, INTgold....... all up in flames or shut down by overjealous prosecuters looking for an easy case and lots of cash to confiscate.

At this time, I suspect the real money in ecurrency exchanging is made by selling courses on how you can make big bucks in ecurrency exchanging.

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