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VirWoX (closed)

VirWoX (closed)

VirWoX (closed)
As previously announced, the Virtual World Exchange (VirWoX) has permanently closed its business on January 6, 2020.
VirWoX operated for more than 12 years, first as a place to buy and sell Linden Dollars for Second Life,
and since April 2011 our users also traded Bitcoin. That made VirWoX the world’s oldest Bitcoin exchange
after MtGox closed in 2014.
We wish to thank our more than a million customers for their loyalty in all these years.
Enquiries can still be sent to
If you came here to buy or sell Bitcoin, we would like to recommend BitPanda instead.
Legal Information
VirWoX - Bitcoin Wiki

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VirWoX – Bitcoin Wiki

In business since end of 2007, VirWoX is today a leading independent exchange for
trading virtual currencies, both in terms number of users (about 800, 000), and trading volume
(2012: 29 million Euro / 38 million US$).
Currencies traded are Linden Dollars (the virtual currency used in Second Life),
Avination’s C$, and the Open Metaverse Currency (OMC). In April 2011, VirWoX started accepting Bitcoin and enabled to trade bitcoins for Linden Dollars (both ways), which are in turn convertible to EUR, USD, GBP, CHF, and the other virtual currencies traded on VirWoX.
Other payment methods (deposit and withdrawal) include PayPal, Credit/Debit Cards via Skrill/Moneybookers, paysafecard, Ukash, SOFORTbanking, and bank transfers.
VirWoX is run by the company Virtual World Services GmbH, which is located in Austria.
The service is available in five languages (English, German, French, Spanish, Italian).
Contents
1 Instructions
1. 1 How to buy bitcoins
1. 2 How to sell bitcoins
1. 2. 1 For Linden Dollars
1. 2 For other currencies (USD, EUR, etc. )
2 Fees
3 Limits and Restrictions
4 See Also
5 External Links
6 References
Instructions
How to buy bitcoins
Technically, VirWoX only supports the exchange BTC for Linden Dollars. However, you can first buy Linden Dollars for real-world currency, and then buy BTC for your Linden Dollars. It is not necessary to open a Second Life account to do this.
After you have opened[1] an account, deposit money into your VirWoX account (on the “Deposit” page) using one of the payment methods in the table below:
Payment Processor
USD
EUR
GBP
CHF
Limit
Fees
PayPal
Yes
variable (see “Limits”)
EUR 0. 35 + 3. 4%
Credit/Debit Cards (Moneybookers)
No
EUR 0. 39 + 3. 5%
SOFORTbanking / Sofortüberweisung
2. 5% (min. EUR 0. 25)
paysafecard
300 EUR/day
20%
Then you need to enter an order to sell your money (e. g. USD) for SLL (=Linden Dollars), e. on the “Exchange USD/SLL” page. Next, buy BTC on the “Exchange BTC/SLL” page. Depending on the type of order (Market or Limit), this will convert the Linden Dollars to BTC immediately or at some later time[2].
Finally use the “Withdraw” page to send the BTC to a Bitcoin address. You can also use VirWoX as a eWallet and keep your BTC there for later use.
Full details of the process can be found on dedicated website VirWoX.
How to sell bitcoins
After your have opened[3] an account, go to the “Deposit” page, scroll down to the “Bitcoin” section and click on the “Create my Bitcoin address” button.
This will create a unique bitcoin address associated with your account. You then send the bitcoins you wish to sell to this address.
As soon as the bitcoin network has confirmed the payment (5 blocks), the bitcoins are booked to your account, and an email is sent to you.
For Linden Dollars
To exchange bitcoins to Linden Dollars, go to the page “Exchange BTC/SLL”, and enter an order to sell your bitcoins.
Depending on your order (Market or Limit), this will be executed instantly or at some later time.
You may then withdraw the Linden Dollars to your Second Life avatar or continue as described below.
For other currencies (USD, EUR, etc. )
Technically, VirWoX only supports to sell BTC for Linden Dollars. However, you can first do that (as described above)
and then buy some real-world cash for your Linden Dollars. It is not necessary to open a Second Life account to do this.
Just go to the corresponding exchange page
(e. USD/SLL for USD, EUR/SLL for EUR), and buy the real-world currency for the Linden Dollars. Then proceed to the “withdraw” page
and send the money using one of the supported withdrawal methods:
Withdrawal Method
Delay
Bank Wire
2-3 days
unlimited
1 EUR (if from EU in EUR)
instant
2500 EUR/day
1 EUR/USD/GBP/CHF
Skrill/Moneybookers
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%[4].
VirWoX charges 0. 0005 BTC for BTC withdrawals. Deposits in BTC are free.
Limits and Restrictions
Because of the risks involved, VirWoX restricts deposits via PayPal and Moneybookers (i. e. Credit/Debit Cards) depending on the age of the account. As of July 1, 2018, there are the following limit tiers:
PayPal/Moneybookers Limit Tier
Per 24 hours
Per 30 days
0 – Upon Registration
90 EUR
270 EUR
1 – After 10 Days
120 EUR
900 EUR
2 – After 30 Days
200 EUR
2, 000 EUR
3 – After 60 Days
400 EUR
5, 000 EUR
4 – By Request Only
1, 000 EUR
15, 000 EUR
For security reasons some bitcoin withdrawals (in particular of new accounts) are subject to a delay and manual review. Specifically, the first withdrawal of bitcoins paid for using PayPal, or credit card is delayed by up to 48 hours.
See Also
Buying bitcoins
Selling bitcoins
External Links
VirWoX web site
current BTC/SLL market depth
Second Life
References
↑ VirWoX user registration
↑ In case of a limit order, you will receive an email when the order is completely filled.
↑ VirWoX Fees
VirWox: ten-year-old exchange closes down - The Cryptonomist

VirWox: ten-year-old exchange closes down – The Cryptonomist

Another exchange closes: this time it’s the turn of VirWox which, through an email to its users, has warned that it will close down on January 6th.
The email invites users to withdraw their funds because, after January 6th, 2020, there will be no more access to the platform, which will close permanently.
This exchange, operating since 2007, offered the possibility to buy and sell bitcoin (BTC) and boasted over 1 million registered users on its platform, allowing the use of different payment methods such as PayPal and credit card, as well as other options.
Its strong point was in the field of virtual currencies, especially those of the game Second Life (SLL): in total, over the years, more than 260 billion of this token have been exchanged on VirWox.
This is the third exchange that has closed in a few days, demonstrating how, once again, it is not wise to leave funds on an exchange, no matter how long and old it is.
As seen in these days, nobody is certain that an exchange will continue its operations or that it will not be affected by bugs or hacker attacks.
One solution could simply be to switch to decentralised exchanges DEX, which allow trading with a wallet and, as a result, the funds are always in the hands of the end-user and not deposited within the exchange.

Frequently Asked Questions about wirwox

What happened to VirWoX?

Another exchange closes: this time it’s the turn of VirWox which, through an email to its users, has warned that it will close down on January 6th. The email invites users to withdraw their funds because, after January 6th, 2020, there will be no more access to the platform, which will close permanently.Nov 6, 2019

Can you legally buy Bitcoin?

Financial institutions are not allowed to facilitate bitcoin transactions. The Superintendencia Financiera warned financial institutions in 2014 that they may not “protect, invest, broker, or manage virtual money operations”. … However, the purchase and sale of bitcoins is legal.

Is PayPal still buying Bitcoin?

PayPal users in the US can buy cryptocurrencies including Bitcoin directly through the platform. In the first half of 2021, the feature will roll out to “select international markets.” Bitcoin bought on PayPal cannot be transferred out of PayPal’s digital wallet.Aug 24, 2021

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