Linclik has a good CPM for all countries. It shows an intermediate page with captcha, plus another one below with a few seconds of waiting. It is not a very popular shortener, but neither is it repudiated by anyone, so we can consider it a reliable shortener, at least as long as it exists.
Payments are sent using the following methods: Paypal from 3$ and Payza from 3$ minimal withdraw.
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Approval on Shorteners.net:
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