What is WebMoney? What is its use and how can it be registered and authenticated? All of these questions are answered in simple language. Continue with digital pricing.
What is WebMoney?
WebMoney is a global payment system for online financial activity that enables internet businesses and people around the world to receive and send money. The company’s head office is located in Russia. WebMoney, which has been operating since year 6, claims to have more than 5 million monthly active users.
With web hosting, online businesses will be able to sell their services to people all over the world and people can purchase their services and goods from web hosts.
In a way, we can say that a web site offers a service similar to PayPal, but because of the fact that the company is Russian, residents of sanctioned countries like Russian can use it without any problems.
What is WebMoney?
With a website you can find the goods and services you need from a variety of store and service websites. The number of vendors who accept a web site does not reach large companies like PayPal, but for world users who are under severe sanctions and find it difficult to buy from an external website, web hosting is a big trophy.
Many digital currency exchanges, brokers, online stores, file stores, domain stores, web hosting stores and game stores support web hosting. Freelancers who work at home can also order money from foreign companies and companies with the experience of earning dollars.
What currencies does Webmoney work with?
You can work with many currencies and assets with a website. The wallets that any web user can create in their account are as follows:
- WMZ – US Dollar Wallet (USD) – Each WMZ equals 1 US Dollar
- WME – Euro Wallet (EUR)
- WMR – Russian Ruble Wallet (RUB)
- WMU – Grijona Ukraine Wallet (UAH)
- WMB – Belarusian Ruble Wallet (BYR)
- WMK – Kazakhstani Wallet (KZT)
- WMV – Viet Nam Dong (VND)
- WMX – Bitcoin Wallet (BTC) – Each WMX equals one millibit (0.001 BTC)
- WMH- Bitcoin Cash (BCH)
- WML-litecoin Wallet (LTC)
- WMG – Gold Wallet
By making each of the above wallets in your web account, you will have a special address for that wallet that you must forward to the sender to receive the web site. Note that it is important when buying a website or paying with a wallet type. For example, if you want to buy $ 5 a webcam, you need to exchange your WMZ wallet address.
To make some wallets, such as the euro wallet, you need to meet certain requirements. For example, it will only be possible for euro area residents to build a euro wallet.
The Webmoney system charges 5.5 percent of the payment per transaction for each transaction, but it has a specified ceiling and will not exceed $ 2. The Euro fee ceiling is currently 2 and the Bitcoin fee ceiling is set at 1.5 BTC.
In some cases the web hosting fees are zero. These conditions are:
- Between wallets of the same type with the same WM-identifier
- Between identical wallets to same WebMoney Passport (for users who have WM-Passport higher than Intial level)
- For WMV (Dong Viet Nam) Payments not less than 2 units.
Webmoney Account Creation Tutorial
Account creation takes less than ten minutes. To open a Webmoney account, follow these steps:
1- Enter the wmtransfer.com website and click on “Sign Up”.
2- You will be asked for a mobile number on the registration page. Enter a valid mobile number to text your verification code. Note that the mobile number entry format should be: 9123456789 (zero)
3. After entering the SMS verification code, you will be prompted to choose a secure password for your account. After entering the password, tick the Accept Rules and click Continue.
4- Now your account is created. You can make your first wallet on Webmoney. Our suggestion is to make Webmoney’s dollar wallet first. To do this, click “Add” in the main panel of your account.
As we said, besides the Dollar Wallet (WMZ) option, you can make other wallets on Webmoney, but dollar wallets are often enough.
6- Once you have made the wallet, you can click on it to view and copy your wallet account number. You need to give this account number to the person or company who wants to deposit for you a website.
After completing the above steps, your account is created on Webmoney and you can send and receive Webmoney. But due to the lack of authentication in the system, you can only have up to $ 300 on your wallet and also have daily transaction restrictions. In order to receive more funds and reduce your account restrictions, you must authenticate and upgrade your account type.
WebMoney Account Types
The WebMoney system has many levels for users, but generally there are three types of user-defined or so-called passport-based web-based money transfer activities:
The lowest level of account is on web hosting. When you first create your account, you will be issued a nickname. This passport has many limitations with which you can only trade $ 100 a day and have up to $ 300 in your wallet.
You can get a contractual passport on the web by registering your identity and sending a scan of your passport page to a webmaster. With this account you can trade up to $ 3,000 daily and have up to $ 10,000 in your wallet.
You can find this kind of passport in your web account. Your account will usually be upgraded 48 hours after completing your identity and sending your passport image.
Personal passport is the main passport for webmail transfers. Obtaining this passport from a webmaster will have no transaction limit or ceiling received. This passport Recommended for businesses. Webmoney’s personal passport costs about $ 50 to pay for a webman. After paying this fee, you should go to an official representative with your original identification documents, including your passport and national card, in person.
To see your account type on Webmoney, just click on the ant icon at the bottom left of your account.
As you can see in the picture below, for example my account is on Formal WebMoney:
Webmoney authentication tutorial; Formal passport
Due to the many restrictions on non-authenticated accounts, we recommend that you upgrade to your Formal Account at least. Of course, if you have no problem with a $ 2 daily transaction ceiling and a $ 2 ceiling, you can work without authentication. With all these explanations, you can take the following steps to authenticate on a web site:
Note: In this tutorial, both the passport authentication method and the national card authentication method are explained. However, the new web version may not authenticate you with a national card. So if you have a passport, be sure to use it for authentication.
1- Log in to your Webmoney account first and then click on this link to sign in to Webmoney Passport. In addition to clicking on the link, you can also access passports from various sections of your account, but you may come across a form in Russian. So you should click on the link above to authenticate to open this section in English. Click Continue to view a page similar to the one below.
On the next page, you should enter your identity information in the exact form shown. We explain each field from the following photo numbers:
1. Enter your last name in English.
2. Enter your first name in English.
4. Identify your gender. “Male” means male and “female” means female.
5. In this field you should select your city of residence. Note that at the time of writing this, the Webmoney database is outdated and dates back to the time when Alborz province did not exist and Alborz counties were included in Tehran province. Click set to choose your city of residence. Clicking on set will take you to another page. Click on “Choose your actual location”. On the page next to the Countries, then Provinces and then Cities section, select your location and click Ok.
6. Enter the postal code of your location.
7. Enter your address in English. For example, if you live on Valiasr Ave, Ahmadi Street and No. 112, enter the address as follows:
No 112, Ahmadi str, Valiasr Ave
The address is not very important. Try to get your address as simple as possible.
8. Choose your country of birth in this field, which is often your country.
9. In this field enter your passport number or national code without a dash.
11. In this field you will be asked to identify the issuing entity of your identification. If you use a passport, enter the Place of Issue. But if you are using a national card, enter the phrase “National Organization for Civil Registration” which means the local registration agency.
Once you have completed the form, click on ‘Save’ to enter the next step.
12- At this point, it is your turn to submit a photo of your documents. You can scan the front of your passport or national ID card or, if you don’t have a scanner, place it on a white background and take a quality photo with your mobile phone. Note that the photo format is preferably JPG and does not exceed 2 MB in size. Also avoid sending two documents in one file.
13. After uploading the document image file, you will be prompted to specify the type of document sent. If you submitted a passport image, select “Passport main pages” and if you submitted the front page of your national card, select “ID card, front side”.
14. Once the document upload is complete, click on “Finish upload”. A message with a green bar will show you that the document has been successfully uploaded. You can now be sure to submit the “Upload new document copy” button on the back of your national card, but this time choose “ID card, back side” from the Document Type section. Of course, the same national card front page usually suffices. When you have finished uploading all the documents, click on the “Back to document list” and save the changes.
After completing all the above steps, you will be presented with a message that the registration and upload operation has been successful. After 1 or 2 business days, your information will be reviewed and your account upgraded. This process may in some cases take up to 10 days.
Frequently Asked Questions about WebMoney
Do I have to pay to build a Webmoney account?
No. Building a Webmoney account is completely free, and just go to the wmtransfer.com website.
Do I need to authenticate to use Webmoney?
Authentication on Webmoney is not mandatory, but if you do not authenticate you cannot have more than $ 5 in your account. These restrictions require authentication.
How much is WebMoney’s fee?
For each transaction it deducts 1.5% of the payment amount as a fee, but it has a specified ceiling and will not exceed $ 2.