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Written by Braco
What is an exchange?
Generally speaking, an exchange is when you are trading something.
Let's say you are to trade a piece of paper for 3 pencils. That's called trading or exchanging. Trade is an exchange involving goods, services, or currency.
Trade is sometimes loosely called commerce. A network that allows trade is called a market. Modern traders instead generally negotiate through a medium of exchange, such as money.
Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade.
What is Currency Exchanging?
Currency Exchanging is where people exchange currencies. Everyone in their local towns has an Exchange Office. If you ever visited an EO you would know what the Exchange Officer does. To the ones that don't know, the EOfficer takes your $5 (USD) and exchanges them in €3.7 (EUROS). Every EO has their own fees that you accept before trading.
Online Trading is somewhat the same, but the goods that are exchanged are different. In OT, you trade money from one Money Holding Company to another one.
Basically if you want to trade money, you are the buyer and the person who actually trades your money is the seller.
How does it work?
If you are the one who is looking to exchange specific currency, then that means that you are the buyer. What happens is you find a suitable seller that has the lowest fees you can probably get, and ask him if he wants to exchange your money. If he accepts, that makes him the seller.
Now, both of you make a deal on the amount of money that will be exchanged and the fees that will be used when exchanging the money.
After you agreed on a suitable fee, you proceed by sending the money to the seller. He will maybe ask you if you are comfortable with waiting for the money, sometimes it takes up to 48 hours for the seller to verify that the money are in his account. Right after he verifies that, you should and will receive money from the seller, on the currency you asked.
This means if you want to trade $40 PayPal to MoneyBookers, you will give the seller your PayPal money and you will get in return MoneyBookers money.
Where can I find an exchanger?
Finding an exchanger is easy. Finding the lowest fee and most trusted exchanger is hard.
You will find exchangers all over this forum, but how much of them are trust-able and how much of them have low fees?
There are a lot of people who just start exchanging topics with just one reason, TO SCAM. You should beware of scammers.
One thing that I found out about this forum was that there was a separate forum section for the scammers, where people start topics about each and everyone who scammed them.
After you find an exchanger that will exchange your currency to a specified currency you want, I advise you to use the [img]http://hfmaxcdn.witza.netdna-cdn.com/images/blackreign/toplinks/search.gif[/img] Search function, and put his name on the box.
If there are any topics that indicate that the member has a previous scamming history, I strongly advise you to just ignore and block the member.
From my past experience on other forums, the people that have scammed more than 2 times are and always will be scammers.
Doing the exchange?
You should be always cautious when doing exchanges. As I stated above, people might try and scam you. To avoid that, I strongly recommend using a middle man. A middle man is a person who gets the money from both sides and verifies the amount that he/she received and after that he proceeds with sending the money to both of the sides.
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Example: You send $20 PayPal to the middle man, and the seller sends $15 AlertPay to the middle man.
The middle man then verifies the money, and sends you $15 AlertPay and sends the seller $20 PayPal.
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There are some middle mans that take fees for doing such a service. You should always be looking for a middle man that will do the service with the lowest fee.
I have been scammed, what do I do?
If you have ever been scammed by a fellow Hack Forums member, I strongly advise you to report him. You can do so by posting a new topic in the Scam Reports sub-forum.
There are also 2 guides on safe trading in the same particular sub-forum that you might want to take a look at if you haven't already.
• HackForums | A Guide To Safe Trading • by iBruteforce
• Guide to Safe Trading (Continued) • by NaDe
There is one more thing that I find interesting, which no forum where I have been at has it before. A custom scam reporting form.
Custom Scam Report Form:
- Link to the scammers profile. This is to prevent confusion if a username change occurs.
- Link to the thread in question if it exists where you may have been scammed.
- Post any images/screenshots that you can provide as evidence of the scam. Best option is to use the spoiler tags for images.
Code[spoiler][img]http://img.imageshack.com/example.gif[/img][/spoiler]
Example:
Popular members that are doing exchanging services:
Exchange Service (MB--LR--WMZ--PP) Instant exchange--Low fees by vccprovider
| Low fees | Nemmyy's AP ↔ PP Exchange Service | Over $2,000 Exchanged | by Nermmy
[SELLING] Libertyreserve for PP by 【 ¶ÑÇƦ€Ƿ¦ßŁΞ 】
E-Money Exchange Service(PP-LR-MB-AP-PM-SP-C-GOLD-GDP-PECUNIX-Webmoney) by Factor8™
Note:
I do not vouch for the exchangers above, nor do I take any responsibilities for their actions.
I do not vouch for the exchangers above, nor do I take any responsibilities for their actions.
![[Image: UylCjc.png]](https://www.talkimg.com/images/2026/05/03/UylCjc.png)