For this WebMoney review, there will be no need for introduction. Undoubtedly, almost all traders are at least familiar with WM let alone working with the payment system. It is arguably the first anonymity-based payment system with a global success due to its emphasis on privacy. But, so much privacy meant that they had to compromise somewhere. Therefore, WM has always been a payment system that works hard yet plays hard too! Considering the overwhelming legal limitations, we’re doing a WebMoney review to see if it can hold up with the competition in the saturated sector.

Exchange WebMoney to PayPal instantly on HiExchange

What is Webmoney?

WebMoney is an online payment system and a comprehensive tool for online business operations. It was originally developed as a money transfer system for US dollars in Russia in 1998 and since then, nearly 40 million people from all over the globe have joined the program.

WebMoney provides digital currency purses that can hold popular national currencies. The payment platform provides a P2P credit purse, global payment solutions, retail services, local payment products, online billing, and direct integration with other global financial service providers. On top of that, a number of countries worldwide are currently working on WebMoney and consumers pay WebMoney for the services of different companies from Spain, Poland, and Belgium.

Essentially, you can trace back a lot of the crypto and DeFi ideas back to WM. In that regard, it is more of an effort to circumvent unnecessary banking regulations. A decade before Bitcoin, WM was one of the few payment systems independent of banking.

WebMoney Transaction Fees

Primarily, WM offers very low exchange fees hence the popularity with Forex traders. The network charges fees only from sending while the receiver doesn’t pay anything. Sending WM units cost $0.8% per transaction while the minimum fee remains at 0.01. for all the fees an tariffs, you can visit the system fees section on their official website.

WM Account

Basically, WebMoney utilizes a “pay-as-you-go” basis which eliminates long-term commitment. With that, users can cancel at any time. But, for this model, you will have to find a reliable exchange platform to deposit and withdraw. This will allow WM to provide an affordable system to replace risky merchant accounts and offshore merchant accounts.

Thankfully, we have just the right exchange platform to introduce in this WebMoney review.

HiExchange Platform

HiExchange platform is an official WebMoney partner with a solid Business Level rating. Using HiExchange, you can deposit into you WebMoney account or withdraw WM units. HiExchange does not charge any additional fees for Webmoney transactions therefore it remains as one of the best exchange platforms for this purpose. In fact, Webmoney to PayPal is our most popular exchange direction because of the affordability and reliability.

On top of that, HiExchange offers multiple benefits for WM users. For one, the platform does not require mandatory KYC or even sign up. This is in fact the best way to protect your private information since you wouldn’t have to disclose them with anyone.

As for reliability, HiExchange offers 24/7 online customer service to ensure the utmost quality of service.

Learn how to exchange Webmoney to paypal + WebMoney to PayPal Video Guide

WebMoney Review: Pros and Cons

Pros

  • Instant Payments
  • Low exchange fees
  • Eliminates the need for credit card in Forex
  • Great for offshore payments

Cons

  • Customer support in English is subpar
  • Not available globally
  • Blocking virtual wallets
  • Security could be better

Conclusion

For this WebMoney review in 2022, we could only say that WebMoney is good as long as you can use it. Meaning that the service is facing sanctions in the US and western Europe. If you have access to WM services, it is an affordable and instant payment system so long as you use a solid exchange platform like HiExchange.