VirWox Review | Virtual Banking

Europeans : If we convince @neteller (island of man) to accept BTC, then we could get cash from BTC in less than 10 minutes, leaving banks out of the game.

Some months ago I tried to see how fast I could get cash from BTC. I tried a tricky strategy that now doesn't work anymore. I used neteller which is hosted in Island of Man, recently prised for its BTC friendly environment for businesses, with some nice feature for privacy and taxes.
here is how :
If we simply get @neteller to accept BTC as a form of money in, that would make the trick.
Or, are any other ways to achieve the same result, leaving banks out of the game?
submitted by adv4nced to Bitcoin [link] [comments]

Why is it inherently so difficult to buy into BTC? This is a major barrier to entry that is stifling growth.

The lack of a solid service to buy Bitcoins with fiat is extremely frustrating. BitInstant's cash deposits are "down for the weekend", which means I basically have to sit on my hands until they decide to come back up....
There has to be a better way!
submitted by Ninsha to Bitcoin [link] [comments]

New to bitcoin, ended up with ~300SLL at VirWox after trading for BTC. What should I do with it?

Looks like it's not enough to trade, but could be given away to an SL user?
submitted by sandrewh to Bitcoin [link] [comments]

Some things you may not know about BCH

  1. You (anyone) can open a web-wallet quite easily to get started: https://tsbw.io/bcc/ is open-source, or https://coin.space/?network=bitcoincash - in case you don't have a smartphone app like Jaxx or Coinomi these are temporary wallets just to get you started.
  2. You don't have to buy coin. You (anyone) can earn bch through tips here on reddit, or twitter thanks to /tipp tippr or similar bots.
  3. Anyone can also earn bch right now too on http://yours.org by posting updates that people might find interesting and/or useful. This is an amazing thing, and makes me think a lot of other platforms for earning are coming soon.
  4. You can buy gift-cards using bch on https://cryptonize.it/product/amazon-gift-card/ - if amazn ships to you this means you can buy foods and stuff to live off of (rice/beans/soylent?etc). Disclaimer: I do not work and am not associated with any of these projects. This one it seems they're getting a lot of orders so they're still working out the kinks. (https://cryptonize.it/about/). This seems like a huge business opportunity to try and work around the stranglehold that visa and mastercard have on payments. - edit: I just realized (if they're in stock) you can buy other types of giftcards (instead of or including amzn) and sell them for cash on many card-to-cash websites, and sometimes even local kiosks.
  5. Depending on where you are in the world some places, for example https://www.southxchange.com/ claim you can sell bch for fiat (if you really have to). YMMV and I have not done this. Remember, some banks hate crypto since it challenges them. If you're thinking of doing bank transfers to fiat from exchanges be careful - the bank may shut down your account! They may also cut-off links between exchanges at any time.
  6. Some places like BitPay offer crypto 'debit cards' where you can fill up with btc (not yet bch?) and then spend it like you're used to anywhere visa is accepted, but don't expect these to be around forever because they rely on visa partnerships, so don't expect them to always keep fees low either.
  7. If you don't like using Coinbase or other privacy-invasive services your options for converting bch to fiat are increasingly slim. You can try any number of exchanges that offer bch/fiat but keep in mind that security, sharing bank account info and ID info can be a big risk and sometimes the fees are huge, alternatives might include virtual exchanges such as http://virwox.com but the process goes something like BCH -> litecoin LTC -> to linden (exchange may not be cheap) -> to fiat to then withdraw fiat to skrill or paypal - fees might be steep there too and paypal hasn't been too friendly with this idea. But if you're thinking of going this route you can use Shapeshift to convert bch to ltc through coinomi.
  8. The more places that offer ways to spend bch, the more local need for putting it back into fiat is not required. However, it is a catch-22 to expect merchants to be able to buy stock from others who are not using crypto yet and start accepting bch. Most people don't understand blockchain and with it crypto so if you're planning on asking your local shopkeeper to accept bitcoin you better have a way to make it clear to them the many advantages but also how they can use their own bch to buy produce/materials to keep the business running. (Maybe via #4). This (in my opinion) is the greatest barrier to wider bch adoption.
submitted by writingabout to btc [link] [comments]

How to Buy Bitcoin with PayPal

How to Buy Bitcoin with PayPal
In order to buy Bitcoin, casual investors want to avoid the complicated process of setting up an account with exchanges or going the mining route – two rather detailed and laborious processes. Thankfully PayPal offers a more convenient method to acquire digital currencies.

How to Buy Bitcoins with PayPal through eToro

Pros: Accepts a variety of payment methods, low fees
Cons: Not available in the US
eToro is a platform that allows users to buy bitcoins with PayPal and is considered to be one of the easiest methods to do so. Worthy of note is that eToro does not enable users to withdraw or transfer bitcoins to other users, rather it allows users to sell Bitcoin only for fiat currency. Users do not need a bitcoin wallet to use eToro as they do not store any coins.

How to Buy Bitcoin with PayPal through VirWox

Pros: A reliable method
Cons: High fees
VirWox (Virtual World Exchange) – It is a platform that allows trading of digital currencies such as Lindens, Bitcoins, etc. This exchange has more than 400,000 registered users and is an authorized reseller of Second Life Lindens (SLL).
Here is a step-by-step guide taking you through VirWox:
  • Go to VirWox.com
  • Open an account – login to Virwox, register and fill personal details like username, email address, etc. Skip when asked for “avatar name” and enter all other necessary information and click “register”.
  • Activate an account – a confirmation email is sent to your account with a password. Login to Virwox with these credentials. It is advised to change the password before transferring money.
  • Deposit money through PayPal – to do this, ensure you have an account with PayPal and ‘understand terms of service’ allowed by PayPal for using SLLs to buy bitcoins. Deposit money into Virwox account via PayPal. Now you have a balance in your VirWox account to purchase coins with.
  • Go back to VirWox and buy SLL, and then buy bitcoins with your newly purchased SLL. Click “withdraw” to send your new bitcoins to your wallet. That’s it! Now you own Bitcoin!
VirWox charges fees for each transaction such as exchanging USD for SLL and then exchanging SLL for BTC. The fee structure of VirWox changes constantly so keep an eye on this every time you want to make a transaction. VirWox has been in the market for a long time and is currently the most reliable platform.

How to Buy Bitcoin with PayPal through Local Bitcoins

Pros: Various sellers from all around the world
Cons: High fees, chances of scams
Local Bitcoins is another marketplace where buyers and sellers meet. In this method, users can buy bitcoins with PayPal by finding a suitable seller with an excellent feedback score and large trade volume. Trading with new buyers involves higher risk, so sellers charge buyers high fees – keep that in mind!
  • Enter search parameters – go to Local Bitcoins and select your country and choose the amount to be purchased.
  • Choose a seller – a list of sellers is displayed by Local Bitcoins. Choose a seller who has a good feedback score. Each seller has trade limits which range from a minimum to a maximum amount of bitcoins required to trade.
  • Go to Payment window – buyer’s reputation increases per transaction and sellers prefer to sell bitcoins to buyers with a good reputation to avoid becoming a victim of fraud.
  • Complete the trade – after finding a suitable seller and entering the quantity of purchase, click “Send trade request” and your done!

How to Buy Bitcoin Using PayPal through Wirex

Pros: Normal fees
Cons: Withdrawing funds takes more than a week
Wirex is a leading company that provides virtual and physical bitcoin debit cards (which is just like a normal debit card). Users can use Wirex’s card to buy bitcoins with PayPal.
  • Request for a new physical/ virtual debit card from Wirex – login to Wirex and click on “request new card” and choose the card type. Users can use both physical and virtual cards to buy bitcoins via PayPal.
  • Link debit card details to PayPal account:
    • In PayPal account, go to “wallet”, select “add a card” to add your virtual bitcoin card. A minimum of $3 is required in PayPal account to verify this card.
    • A 4-digit code is generated, which is the verification pin for Wirex cards on PayPal.
    • Go to “wallet” and click “Withdraw funds” and choose “withdraw funds to your card” option.
    • Withdrawal would take up to 7 days to appear in Wirex account.
    • Buy bitcoins with Wirex debit card.

How to Buy Bitcoins Using PayPal through Paxful

Pros: Wide range of sellers from all over the world
Cons: Chances of scam, high exchange rate
Paxful is the latest version of Local Bitcoins. It is a decentralized peer to peer marketplace and allows users to buy bitcoins with Skype credits, Amazon gift cards, etc. In Paxful, a seller sends bitcoins, buyer purchases and sends dollars to escrow. Once the trading is completed, funds are released to each party.
The process to buy bitcoins through Paxful is:
  • Create an account
  • To buy, select payment method by entering the desired amount
  • To sell bitcoins, select “seller manually” or allow Paxful to decide who the best seller is.

Final Thoughts…

Cryptocurrencies are tentative, complex and involve high risks as they are highly volatile. Before buying bitcoins through PayPal, ensure that the terms and conditions of PayPal and bitcoins are well – understood to make your transactions secure.
Source: CryptoCurrencyNews
https://preview.redd.it/3ripk7pccui11.png?width=983&format=png&auto=webp&s=027e30696faa3bb18ad0d012cea1d88cda09dc67
submitted by Lumi_wallet to LumiWallet [link] [comments]

01-23 09:43 - 'Virwox Paypal withdrawal' (self.Bitcoin) by /u/Assassinkiller5 removed from /r/Bitcoin within 81-91min

'''
Hi, I have some left over Bitcoin from the crypto mining craze in my wallet, and I want that bitcoin in my paypal. I was wondering if VirWox Paypal withdrawals still work since their Paypal deposits sure don’t. I don’t really care about the fees, every extra penny is an extra penny. Thanks
'''
Virwox Paypal withdrawal
Go1dfish undelete link
unreddit undelete link
Author: Assassinkiller5
submitted by removalbot to removalbot [link] [comments]

How to buy Bitcoins with Paypal

So I know a lot of people have been asking about this (and so was I) so I finally found a way to buy Bitcoins with PayPal. The whole idea is to circumvent the direct purchase of BTC with Paypal with buying SLL (Second Life Lindens) and then exchanging them for BTC.
You can find the original post on my Facebook notes here: https://www.facebook.com/notes/ofir-beigel/buying-bitcoins-with-paypal-or-with-a-credit-card/10151639487083203
If you want a short rundown of how it's done then here's the deal:
IMPORTANT: This process hold within it more transaction fees than usual. This may still be a valid solution since the soaring numbers of BTC compensate for this. It's important for you to be aware of the different transaction fees.
Step 1: Go to VirWox.
VirWox is an exchange of virtual currency, you can buy there Lindens, Bitcoins, and more...
Step 2: Open a free account
Click on the "not registered yet" to open up a new account.
Step 3: Fill out our personal details
Fill out your username and email address. Where it asks for "avatar name" just fill out any name you like it doesn't matter, since you're not going to play Second Life. Continue filling out all of the personal details and click "register".
Step 4: Activate your account
Once you clicked "register" you will get an email confirmation with an initial password. Open the email and log into VirWox with your initial password.
Step 5: IMPORTANT!!! Change your password!
After clicking the confirmation link it is advised you change you password as shown below since you will be transferring money through this site. Do not worry about the message saying "Your avatar connection has not been validated yet" - it is irrelevant.
Step 6: Fund your account through PayPal
Click on deposit on the left side and choose PayPal Express. Fund the account with how many USD you'd like.
Note: From now on for each transaction you will make there will be a fee - make sure you are aware of the relevant deposit and withdrawal fees
Step 7: Buy SLL with USD
Go to Exchange->USD/SLL on the left side. You can also go to any other currency you'd like. Buy SLL (which mean Second Life Lindens) . We will later on exchange these SLL to Bitcoins.
Note: If you haven't made a deposit yet you will get the screen shown above requestion you to deposit before you buy SLL.
Step 8: Buy BTC with SLL
Once you have SLL in your account, go to the BTC/SLL and buy Bitcoins with your SLL.
Step 9: Withdraw your Bitcoins
Choose "Withdraw" on the left side and send the Bitcoins to your wallet.
submitted by ofirbeigel to Bitcoin [link] [comments]

I Finally Got Some Bitcoin Easily using VirWox.com (at a %37 Transaction Fee)

So I just used VirWox.com, and I should be getting 0.025 Bitcoin as soon as the withdrawal is done! It was fairly easy, however the $19 of Bitcoin at current prices cost me $30 when all was said and done. Had to pay to deposit, pay to transfer USD to Linden Dollars, pay to transfer Linden to BTC, pay to withdraw BTC, and left small amounts of money behind on every step due to VirWox transaction resolutions. A 37% transaction fee is pretty shitty. It would be reduced at higher amounts, but you cannot do large amounts until months after creating a virwox account.
I tried for a week solid to get some Bitcoin back in the April dip after the excitement and had every single attempt fail. At least I finally have some. I just find the whole technology side really interesting and wanted to have some skin in the game.
submitted by RedditNamesSuck to Bitcoin [link] [comments]

PayPal --> Bitcoin (best exchange rates)

What are the cheapest options to withdraw money from PayPal account without transferring them to local bank? I was thinking Bitcoin because exchanging PayPal into other ewallets adds up to about 20% in fees upon cash withdrawal.
VirWox has decent rates (adds up to about 12%), but for some reason they decided that my account is high risk (whatever that means, I'm still waiting on them to get back to me) and refunded my first payment. Exchange rates at localbitcoins.com and paxful are terrible so I won't use them.
P.S. I'm not stealing money from somebody else's account. I just need to be able to send my PayPal funds into another jurisdiction where I can transfer them even to a bank account if necessary.
Edit: I'm also thinking PayPal E-wallet Bitcoin might be an alright option, but my head is about to explode from various exchange rates and fees that each system has.
submitted by sdiohdvs to Bitcoin [link] [comments]

How Not TO Buy Bitcoin with Paypal Through VirWoX (Getting Your Account Closed/Suspended)

I wanted to create a totally anonymous website that no religious or political force can easily take down and threatens my safety (FREEDOM OF SPEECH!). This means having both domain and hosting services outside US and "controlled" countries.
One of the step is acquiring bitcoin to do the needed payment to be anonymous. I tried using the famous process of buying BTC through VirWox and would like to share HOW MY ACCOUNT WAS CLOSED to help others AVOID these.
Here's, the email sent by VirWox Support:
"Hello, unfortunately we have received high risk indications for your account. We have therefore refunded your payment and closed the account."
Here are the possible reasons why what I've done was high risk.
  1. Email account used is mail.com where there's no identity verification required.
  2. Used pseudonym and fictitious contact information throughout (let's call her Maria)
  3. VPN with IP on the address of Maria
  4. Browser cache cleared. Used private window.
  5. Turned off all "location" and other privacy invasive features of your computer.
  6. Created account on VirWox for Maria
  7. Deposited USD through a paypal account of a willing friend (thus different name from Maria)
  8. Bought SLL with USD
  9. Bought BTC with SLL
  10. Withdraw BTC
  11. All above steps were done on the same day
Within 48 hours, I got my VirWox account closed and all money refunded (including fees - good news atleast)
Next time, I would probably buy BTC from VirWox disclosing my real identity using my own Paypal. However, this removes one layer of anonymity.
Any suggestions on how to buy bitcoin with paypal allowing maximum anonymity? Thanks!
submitted by chaoshavokpogi to Bitcoin [link] [comments]

How to buy Bitcoins on Virwox and the real cost of going through Virwox

It seems like a lot of people are buying bitcoins through Virwox only to found out that they paid a hefty premium and that they have loose change in their Virwox account that they cannot redeem.. There are a few simple steps to avoid/minimize that issue.
Step One: the fee to deposit cash onto your account I use Paypal and they charge you €0.35 + 3.4% in fees. In order not have any loose change since converting into SLL can only be done with Units of Cash (no decimal points) you need to work out the net deposit amount For example: if you want €100 then you need to deposit €103.89
Step Two: Buy SLL with Euros Next go to the EUSLL exchange and pick market order (it rarely is better to put a limit order since the fees for a limit order are greater than the extra you might earn from going in the order book with a higher limit, it’s possible but chances are since this a rather illiquid you’ll never be executed). Limit order fees: 3.90% Market Order fees: 50SLL + 2.9% At the current rate 1EUR = 269.7SLL, 100 euros will get you 26140 SLL (and you paid 832 SLL in fees or about 3 euros) If you put a limit order hoping to get a better rate, the best offer rate is 273.9, so going just in front of that at 273.8 will get you 26314 SLL or 174 more SLL but the fees are 1068 and the chances of being executed are very small. To give you some perspective you start getting less SLL with a limit order at a rate of 271.9… because you pay more fees (I always go with the market order).
Step Three: Buy BTC with SLL The exact same fees apply (2.9% +50 SLL) so again you want to go with the market order. At the current BTC/SLL rate of 59100 SLL for 1 BTC, with 26140 I can buy 0.4286BTC of which you paid 808 SLL or about 3 euros in commission.. At the very end to withdraw your BTC into your wallet you’ll pay an additional 0.005 btc leaving you with exactly 0.4236 BTC.
Conclusion: The current market rate for BTC/EUR is 210.48 on kraken, at that rate your 103.39 euros would have gotten you 0.4935 BTC or 0.0649 more than with virwox… all in all the total commission for that trade is about 15.41% or about 16 Euros. On average the total commission is between 13 – 20 % it all depends on how liquid the different currencies are… it’s as if you bought 1 BTC at an exchange rate of 242.37 EUBTC which is a pretty large spread but given the convenience for small amounts and the speed (for 2 timers the btc withdrawal is instant) and the anonymity this is one of the easiest ways to get btc fast and securely. Any comments are welcome or any other website or cheaper alternative are more than welcome. Note though that you do not need to give any kind of identification on virwox.. although your paypal/credit cards details will reveal who you are.
submitted by garchmodel to Bitcoin [link] [comments]

VirWox, PayPal, BTC, and Headaches

This is for BTC noobs like myself.
I recently decided to play around with BTC a bit to the tune of ten dollars or so.
The quickest and safest mechanism seemed to be through PayPal via the Virtual World Exchange, or VirWox. A number of guides and tutorials made reference to the site so I figured I'd give it a go despite mention of "slightly higher" fees.
My experience with VirWox left me with a few points that I thought others might benefit from being made aware of.
1). All BTC transactions are minimum .02 BTC, an arbitrary limit not imposed on other currencies on VirWox. This is NOT listed anywhere on their FAQ.
2). In addition to a 3.5% deposit fee, VirWox charges 3% fees on each currency conversion As two conversions are necessary to go from PayPal to BTC, this brings the total fees up to about 10% not including PayPal's cut, just to get your money into BTC form on their exchange.
3). VirWox takes a .002 BTC fee on any BTC withdrawals amounting to a full 10% of a minimum BTC transaction thus bringing total fees on a minimum order to a fairly astronomical 20%.
4). VirWox states that first-time BTC orders will be delayed by 48 hours. In fairness to them this is acknowledged in their FAQ but their wording is not terribly clear.
"While most withdrawals to PayPal, NETELLER, Moneybookers, and Bitcoin accounts are processed instantly, we manually check some of them for security reasons (for example of new accounts). They will be processed within 48 hours. In any case, you will receive an email confirmation when the withdrawal has been processed. Note: For security reasons, the first withdrawal of bitcoins will always be delayed by 48 hours."
So it will be processed within 48 hours?
Delayed by 48 hours and then processed within 48 additional hours?
Which is it?
5). Repeated emails to their customer service have proven useless in regards to ascertaining information about the duration of the delay.
I emailed VirWox to ask if I had to wait a full 48 hours or if there was a chance that the transaction could be processed sooner. Upon doing so I was ever so helpfully referred to the FAQ which didn't answer the question at hand. After emailing VirWox a second time with the same question rephrased, I was told that "disclosing the rules which payments are selected for a manual review would be counter-productive". I've emailed a third time, again asking the same question regarding delays. Stay tuned for more lulz.
Now I'm wondering if I should just dispute payment on Paypal and walk away from this giant mess.
tl;dr - VirWox seems a bad choice for those wanting to buy a small amount of BTC to play around with.
Update
After repeatedly asking if I had to wait a full 48 hours, I was told by VirWox customer support:
"The thing is we will not answer such questions. Like Coca Cola will not reveal the formula for coke."
Maybe this belongs in WTF.
submitted by KefkaTheJerk to Bitcoin [link] [comments]

Buying btc with a credit card or paypal.

Yes the infamous question most btc users have. Where the hell do i buy bitcoin INSTANTLY with a credit card? Currently i use virwox (1.usd->2.sll->3.btc) to purchase bitcoin but withdrawals take up to 2 days and im not to keen on that.
EDIT: and on top of the wait theres obviously a decent loss because of fees considering i have to convert my usd to sll and then my sll to btc
submitted by erick_710 to Bitcoin [link] [comments]

For someone who wants to buy Blackcoin with Bitcoin via paypal

So we got new people hearing from Blackcoin and they don't know really how to buy bitcoin , so im gonna present you the long way to buy Blackcoin :) 1) Go visit virwox.com 2) Create an account 3) Add your paypal Address on your account settings 4) Deposit your account with euros or dollars (It could be possible that you have to wait 24 hours due to fraud check) 5) Buy SLL for your euros 6) Sell your SLL for BITCOIN 7) Withdraw on your Bitcoin address e.g on Mintpal (withdrawals can take 24 hours due to fraud check again , but once you done it you never have to deal with it again) 8) Buy Blackcoin with it and enjoy the future :) Also the fees on virwox can be a bit higher as usual like 5-7 % Sorry for my English , its not my native tongue :)
submitted by FrankyIreliaFtw to blackcoin [link] [comments]

New to Bitcoin, feeling jaded. (bit of a rant)

Thought i'd share my perspective as someone who has just now started using bitcoin.
Not a day has gone by in the last year or so that i haven't seen something about bitcoin. Certainly the praises are high. So when i saw something i'd like to buy listed in bitcoin i decided to pull the trigger and buy in.
I was surprised to see my options for using my credit card did not appear to be very numerous.
After some reading people suggested to use virwox as they are supposed to be fast. I sign up deposit $50 into virwox which ends up as 47.xx after fees only to discover i can only buy SSL or second life money (that's a thing?) to transfer that into bitcoin. Convert the 47.xx to SSL..there'll be a fee for that. SSL to BTC? fee there too, withdraw your btc? you guessed it another fee. At this point i'm out over $5..that's over 10% in fees!
Whatever let me just transfer to my wallet and buy my item and i'll be done with it. Oh..you have a new account? there will be a 48 hour hold until we transfer to your wallet.
Now the price of my item is set in USD ($43) and obviously the price of bitcoin is ever changing. Now i'm just hoping i'll still have enough BTC to buy it by the time my funds are released to my wallet.
Obviously i went about transferring my money the wrong way. I know bitcoin is just starting out and everything. I want to trade in bitcoin to support it....but you guys are not making it easy. I can't begin to imagine what it would be like for the average non technical user.
tldr; too many fees, virwox sucks, must be impossible for someone non technical to get into btc.
submitted by ifeelboned to Bitcoin [link] [comments]

HI r/bitcoin, I am new to btc can I purchase with skrill/paysafecard :)

hi
I bought my first bitcoins a couple days ago $30 at virwox but the fees seem quite excessive 20% to deposit, fee's from usd>sll then from sll>btc and then they charged me 0.005 to withdraw to my wallet :'( I have searched the interwebs and reddit but have had no luck, can anyone point me in the direction of an exchange that accepts skrill or paysafecard, localbitcoins for skrill/paysafecard is also just as expensive :)
submitted by CRYPTOVIRGIN to Bitcoin [link] [comments]

Say, what are the most straightforward ways to Sell BTC and get USD or other currencies?

I figure adoption for Bitcoin will move a lot faster when it's easy to cash out. You know, safer to enter a building once you know where all the exits are, and all that. :3
The simplest method I know presently is The Rock Trading -> Linden Dollars -> Paypal, which I have tested.
I do have bank accounts and debit cards, but I don't know anything about what ACH or International Wire are. I don't know their timeframes or fees, and I assume that entering bank account numbers and routing numbers into not-so-well-known sites would be a pretty big risk.
Has anyone made up a grid displaying "round trip fees" from different currencies to and then from BTC, showing expected % loss, time delay and potential anonymity compromise and inconveniences (frictions) at each step? If not, does anyone know some good sources for such data, and I could help to compile such a list? :O I think that would be a goldmine for anyone shopping around for BTC liquidity options.
For example, round trip USD through the rock involves:
Thanks in advance for sharing your data and perspectives! :D
UPDATE:
Trying to run a few tests on Paypal USD->LL->BTC->LL->Paypal USD at present. Results thus far:
submitted by jesset77 to Bitcoin [link] [comments]

Doge Puppies Like Me: Come hear my tail, such learning, much waiting, yet such sweet Wow.

NOTE: This is a summary of my experience with DOGE buying. I am new to the internet world, very luddite, but hope to learn more. I am sharing my experiences for any others out here like me, who may be just starting out. I am a stay at home mom who browses imgur while nursing, long story short, I stumbled on to the news article about the Jamaican Bobsledders. Then I started my research and last week I jumped on the Dogetrain, all starry eyed and bushy tailed.
I bought my first bitcoin on Virwox using my paypal account. It caps you at $104 USD. You then have to trade your Bitcoin for Linden dollars. Linden is currency from the Second Life, an Avatar game. After you make your linden trade, you can then trade your Linden for BTC. I ended up with around .111BTC, which isn't so great for $104 USD.
I next signed up for an account at Coinbase. At Coinbase I had to enter bank account information, and then I bought BTC. The great thing about Coinbase is that they lock in the market price when you place your order. Even though I haven't actually received my BTC for 4 days (still waiting) I was able to buy it at the low of $781 per BTC. I bought .3 BTC for the price of $237.
The next thing I did was pretty silly. I withdrew my BTC from Wirvox (paying .002 BTC withdraw fee) and transferred it into Coinbase. It took two (2) days for this transfer to take place. Once my BTC finally arrived at Coinbase, I realized I wanted to trade them for DOGE. Coinbase is ONLY for buying and selling Bitcoin. So, I had to transfer my BTC from Coinbase and into Cryptsy. Everytime you make a withdraw from one of these markets, you end up incurring some small fee. But if you are going around needlessly transferring BTC like I was, those fees add up. The transfer from Coinbase to Cryptsy took about a minute. Once at Cryptsy I traded my .111 BTC for around 65,000 DOGE. Next I transferred the DOGE into my Dogewallet that I had downloaded onto my desktop. This transfer took 24 Hrs. It kept saying, "pending" I issued a Cryptsy ticket asking what the hold up was and they responded promptly and fixed the problem by the following day.
I am still waiting for my .3 BTC I bought from Coinbase to stop pending, once it does I will transfer it into Cryptsy and again buy more DOGE.
I downloaded Dogecoin QT wallet for my desktop and transferred my Doge, this took around 12 hrs. The whole time I was stressing not sure what exactly I had downloaded onto my computer (a bug, a bomb?) But I googled and found out from reddit that this is a common issue with Dogecoin QT.
I have also bought 10,000 DOGE on Ebay for $20,000 from a very kind member of the Shibe community who showed me how to find my wallet address, transferred an initial 1 DOGE to make sure it worked, and then welcomed me kindly and gave me an extra 1000.
I also signed up for Doge Vault, and I have tested sending DOGE back and forth between my desktop wallet and the online wallet. The online wallet is faster in my opinion.
TL;DR: Newbie's experience with DOGE, learn from my mistakes.
Community Overlords of DOGE: this might give you an idea of what your average computer idiot goes through when they are starting out.
submitted by TheBigRedRooster to dogecoin [link] [comments]

For anyone with a SecondLife account and wants to use paypal to buy BTC

I have been using [virwox](www.virwox.com) to (essentially) buy bitcoins with Paypal. You deposit your USD with paypal or credit card or other method, then buy the Lindens (second life dollars). Then you can buy bitcoins with the lindens (SLL). This especially nice if you happen to have an old SL account with SLL just sitting there. And for anyone interested I have vouchers from virwox, if used when signing up gives us both 50 SLL (about $.20). They do have multiple fees and commissions though (Paypal, trading, withdrawing).
Edit: You don't need a Second Life account to buy SLL or bitcoins. But you can bypass their max deposit limit by buying lindens elsewhere and transferring to virwox.
submitted by tweaq to Bitcoin [link] [comments]

How to Convert Bitcoins to Your PayPal Account

After the previous post about buying Bitcoins with Paypal I noticed that people are also looking to sell Bitcoins with Paypal.
(Oddly enough) This is done almost the same way, and yes there are transaction fees you need to take into account in this process. If you want a video explanation you can find it here Here is how it's done:
submitted by ofirbeigel to Bitcoin [link] [comments]

Buying Bitcoins with PayPal - VirWox - Better Don't ! Bitcoin Miner Pro 2020....Without Any Withdrawal Fee Best Bitcoin Mining Software 2020 Free bitcoin mining and withdraw without fee 200$ WITHDRAW FROM (BITCOIN BOUNTY) free bitcoin mining without withdrawal fee

Since Virwox is currently one of the main ways people buy Bitcoin with Paypal it attracts a lot of attention. Many people consider Virwox to be a scam while others say it’s legit. In this post I would like to share my own opinion of the site after buying and selling through them for almost 4 years. VirWoX End-User Caveats. Not suitable for serious Altcoin Traders. At best, VirWoX is for quick ‘in and out’ bitcoin conversions. Definitely not cheap. Typical fees average around 7-12% (end-to-end, all said and done). The fees tend to be particularly painful when converting BTC into fiat via PayPal. Slow First-Time BTC Withdrawal. Withdraw your bitcoin. Countries supported. VirWox is available worldwide. How much will it cost me to use VirWox? VirWox charges 50 Linden Dollars (about $0.20) plus 2.9% for bitcoin/Linden Dollar (BTC/SLL) market orders. The fee for limit orders depends on volume but generally varies between 0.78% and 3.9%. The fee for limit orders depends on volume but generally varies between 0.78% and 3.9%. VirWox charges 0.001 BTC for bitcoin withdrawals. Deposits in bitcoin are free. How quickly will my funds be available? For security reasons, bitcoin withdrawals are subject to manual review, which usually slows the withdrawal process. VirWoX charges 50 SLL (currently about $0.20) plus 3.9% for BTC/SLL market orders. The fee for limit orders depends on the previous trading volume of the account, and varies between 0.78% and 3.9%. VirWoX charges 0.0005 BTC for BTC withdrawals. Deposits in BTC are free. Limits and Restrictions

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Buying Bitcoins with PayPal - VirWox - Better Don't !

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