Sunday, July 26, 2015

RIP Webtransfer

That was good while it lasted. It seems that the project is as good as dead now though. The coming week we're expecting to hear some updates from the founders. The word is that if you deposit money into the system now, and create a loan, once the loan is returned, you will be able to withdraw the money directly in a matter of minutes.

There are ongoing debates on the forums as to whether this means that the project will be closed and this is the final money grab, or the project will be simply restarted with the newly attracted capital. In a way it doesn't make any difference to those who have money invested in it now - if it's restarted, your account will most likely be zeroed out or something of that sort.

If your money is stuck in the project right now, here's the only possible way now - use Exchange Services to get a fraction of your money out. The only ones that I found to work reliably (and they happen to be operated by WT themselves) are:
How do they work? They are companies that trade funds between different Payment systems. They have certain reserves for each pair of systems. E.g. in order for you to send money from WT to, say, Perfect Money, somebody has to do the reverse transaction first. As you may guess, reserves are currently staying close to 0, so you have to keep checking them often to see if there's anything there. To add to that, they also have uneven exchange rates. When I did my withdrawal, I would get 1 USD on Perfect Money for each 4.5 USD from WT. After losses on other scammy exchangers, I ended up getting around 15% of what I had on the account. It sucks - but I saw no other choice at the moment - if you wait longer you may loose everything. I may be wrong of course and it might be that the project will just continue its existence with newly found capital.

Anyway, ff you want to use the exchangers, here's what you need to do. First you need to make accounts on all the Payment Systems that are supported. I suggest these four:
These are the only ones that I needed myself to get (the fraction of) my money out.

The best thing to do is to get an account on all of them, because you never know where the reserves will appear. It's also best to do it ASAP, because now there are people who are still actually investing into WT and filling up those reserves.

After that, use the Exchangers above to get your money onto the Payment Systems. From there, you can send yourself a wire, or put money straight on your credit card.

Update: All of the above methods worked until recently. If you haven't got your money out by now, all you can do now is wait and hope.

Monday, July 13, 2015

Current Updates in Webtransfer

Some of my partners experienced certain issues with Webtransfer lately, like not being able to issue loans or withdraw their money.

There have been a lot of updates coming out of Webtransfer lately, and a lot of chatter in the support forum. All of it is in Russian unfortunately and not accessible to international users. I'll give a short summary of what is happening.

Recently there were incidents where WT issued double withdrawals to a few users by error. Most users, obviously didn't return the money. Now WT is doing a big change to the system to avoid this issue in the future. There is a script running through all the user accounts dividing money in your wallets into two categories - "Funds" and "Affiliate Funds". There's a big confusion as to what "Affiliate Funds" are - some on the forum say that those are commissions that you get from your Junior partners, some say that those are all the money that you earn in any way (other than depositing them from your bank account - those are your "Funds"). The latter definition seems true considering what I see in my own wallet.


While this script is executing, the Affiliate Funds are frozen. What that means is that you cannot withdraw them, cannot lend them, cannot do anything. You can however withdraw your own "Funds" at any time with no restrictions, as well as lend them out, etc. This is a temporary situation. We are asked to not panic and patiently wait for the updates.

There will be new rules set for Affiliate Funds. Most importantly, you will only be able to withdraw money from your Affiliate Funds only on the first and third Friday of each month. It is recommended that you place your withdrawal request 72 hours before one of those days.

That's the whole story for now. Hopefully more clarifications are going to follow over the next few days.

Sunday, July 5, 2015

Heads up on Webtranfer-Finance

Update: here

Just wanted to give you guys a little update on my Webtransfer experience so far.

I opened my account in November 2014 and put $3000 to experiment with. Around February 2015 I have effectively doubled my money and withdrew all the original investments, leaving only the newly earned money deposited in the account. At this point - July 2015, I have over $6000 on the account. This is an investment capable of producing an income of $1500 per month. I plan to keep this amount invested, withdrawing once a month anything that accumulates on top of that.

Here's my current screenshot:

As much as I've been a bit wary about the enterprise from the start - just because it's hard to believe returns like this can be real, I do regret that I didn't put more money in from the start.

As of now the number of people participating has tripled since the time I invested and still keeps growing steadily, which is definitely a healthy sign.

Happy investing!