1. Why they have so many passwords and what if I forget some or all of them?
LR use three types of password in order to secure your account and protect you against hackers and even against your own careless1st password: The main account password
= is used to login into the account2nd password: The PIN code (5 digits code)
= is used to give access to the account functions, without this you can't really use the account, if you know only the 1st password you can only see the account balance. This code can't be copied and pasted into the password field, so even your computer is infected with viruses, keyloggers, trojans, this password will be hard to get. This is why is important to remember this code and don't save it anywhere on your computer3th password: The Master Key code (3 digits code)
= This code is the used to ultimately authenticate you as the owner of the account just before you can make an account operation (transfer funds, change passwords, change settings).
The main reason for three passwords instead of just one, is that many people use a single password on all their online accounts, so theoretically if a hacker gets your login credentials from a week database (forums, blogs, online services) then he can use it to try access your LR account.
The best practice is not to save the 2nd(PIN) and 3th(Master Key) password anywhere, just to remember them. So even if a hacker gets access to your computer and see your main password, it will not be able to get access to your LR account without the PIN and Master Key.
If you forgot some of the passwords or all three, you can use the Account Reset Wizard tool to reset it. Just make sure you remember the security answer you provide during LR account registration, because without it you will not be able to reset your LR account passwords.
2. Is LR safe from account freezing and reversals (and other typical Paypal problems)?
LR doesn't freeze accounts so easily. In the last 4-5 years we heard only a very few cases when LR freeze an account, and most of that cases was connected to a hacker trying to hack into the LR system itself or into exchangers accounts.
In the LR system the term of "chargeback" does not exist, they do not reverse transactions even on multiple complains from users. Take for example all the HYIPs that use LR, there was not a single case since LR start operating back in 2002 when a user got his payment reversed from a HYIP. LR has in its own Terms of Service that:
"5. Irrevocability of Transfers"
5.1. User agrees that all Transfers initiated by User are final and not reversible
5.6. The account of the intended recipient will be credited instantly with the funds. Once funds are credited to the recipient’s Account, the transfer becomes irreversible
3. What's the cheapest way to fund it?
Depends on what funding method you prefer. One thing is important to be mentioned here: You can fund your LR account only through a third party not directly from the LR system itself. So you need to use an exchanger or another LR user to fund your LR account. Using exchangers is the most safest way. You can choose what exchanger to use based on what deposit method you prefer.
For example we (www.wmxchange.net
), as an LR exchanger offer the possibility for you to buy Liberty Reserve
with Western Union, Money Gram, Bitcoin, OKpay, Perfect Money and soon others methods as well.
There are also a lot of other exchangers on the market that can offer other funding methods, most of them are listed here: http://www.libertyreserve.com/en/exchangers
Choosing the right exchanger depends mainly on you, so make a little research before selecting an exchanger. Just keep in consideration that usually the cheapest rates doesn't mean the best exchanger, because there are a lot of scammers pretending to be legit exchangers that will want to scam you of your money by offering unbelievable good conditions and low rates.