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WHY are we the thirteenth largest cryptocoin market, with more trade and more trend than bitcoin, and yet we do not have a single site trading USD/DOGE??
I have been purchasing coins through my friends account for some time now until finally I decided to register for my own at Virwox. When I originally registered I thought I could exchange USD for doge, or even doge to Bitcoin right there on the site. But to my dismay, this is not the case. First you have to transfer them to another exchange site to convert your money around a few times, finally enabling you to make the final trade, BTC/DOGE. This would be all fine and dandy if Virwox didn't have a mandatory 2 day delay minimum on all first transfers....And for people wondering there are no other places you can go to that don't do something similar. I deposited my money three days ago when I intended to buy doge for .000276 USD and now I'm losing out on a great deal of doge coins when you consider the fact that the doge market GREW BY OVER 2 MILLION DOLLARS in the course of the last day and a half.(jan. 14 - 15). In affect reducing the amount of doge I can now purchase for my bitcoins from 210,000Doge(for 60USD) to 140k. Edit: I forgot to mention the problems associated with having to exchange between different currencies. Firstly, any deposit into one of these crypto exchange sites take mandatory fees for just about every step in the process. My initial 60 dollar deposit was reduced to 57.65, and when I withdrew my bitcoins from the site there was a mandatory BTC xfer fee of .002 BTC. Oh but it doesn't stop there, you see, because you have to exchange your coins through so many different currencies before it lands on Doge, you are forced to leave behind tiny increments of your coins in different crypto wallets, as most sites will have a minimum trade amount for a certain currency. Take SLL for example, they only let you convert a minimum of 35 SLL into BTC at a time. So if you have say 100 SLL wanting to be turned into BTC, you will be forced to leave behind 30 SLL, as you don't have the required 105
Hi Guys, hopefully one of you can help. I bought my BTC via Virwox, then sent them to my BTC wallet that's on my desktop. these funds arrived without any problems. Then I attempted to send these funds to another bitcoin wallet which I use on my phone. The transaction was delayed for hours so I hit 'reset blockchain' on my wallet (Multibit) and now my balance has disappeared. When I look through my transactions on multibit I see that transaction for +0.48 BTC but my wallet shows a balance of only 0.0029 BTC EDIT: All OK now, money bounced back into account after resting the blockchain for the 2nd time, using Electrum now
I have $70 USD via PayPal and am looking to invest it all in bitcoin, Does anyone in this subreddit accept PayPal for BTC? If you did not open this post to trade please still have the decency to comment your thoughts/chances of me getting what I'm asking for without being scammed or delayed. I don't mind a fee just not a giant one. I have thought of using VirWox but when ever trying to purchase I get the message "Only accept confirmed PayPal accounts", yet my PayPal account is confirmed, according to PayPal support team. So help with everything would be great.
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:
trusting a third party during the duration of the BTC transaction
no disclosure of sensitive personal information
The potential inconvenience of using a Secondlife Viewer client and visiting an ATM in-world .. all of which is simple for me, beats hell out of going to 7-11, and exposes minimal identity information to untrusted third party.
USD->BTC = virtually no time delays, maybe an hour of effort if you're already comfortable using SL viewer. BTC->LL = 2 hours to 1 day and LL->Paypal USD = ~2 business days.
I didn't collect fee/loss information the last time I tested this round trip, but I'll likely do so again soon.
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:
$10usd -> L$2405 took 2 minutes on Secondlife's website.
The Rock has apparently started using the Linden Labs Risk API since last time I deposited Lindens through them, so now they refuse to take mah Lindens. ;P
Trying Virwox instead. Apparently they can't handle fractional BTC? changed L$ 1,377.96 to 1.02 BTC on account with them in 10 minutes.
Waiting for manual confirmation on BTC withdraw presently. They say that could take up to 48 hours. :P
Outside Looking In - Inviting discussion about the practically of Bitcoin as a legitimate currency in it's current state
Please note that this is from the opinion of an outsider to the community looking in. I only recently started following bitcoin trends and only yesterday while the market was panicking tried to purchase Bitcoins to take advantage of said panic. The barriers to entry and hoops I had to jump through were insane. Maybe it's because I'm Canadian? Eventually after hours of trying I managed to deposit $100 (when i wanted to invest MUCH more) onto VirWox which was the only decent exchange that I could find that I could deposit money onto with little delay. Because of the nature of VirWox primarily being a Second Life exchange I then had to get hit with exchange twice as I converted first to Linden$ and then to Bitcoin. I originally had been following the popular marketplace BTC-E but I could find literally no option to deposit that didn't require a waiting period of up to a week over bank transfer. They have many options to deposit instantly using 3rd party payment processors... which were all inaccessible to me as a Canadian (rejected my CC for not being in the same country as my cell #??? which it was???). And all these options come with exorbitant percentage based fees. All I'm saying is as an outsider, this was my first experience with Bitcoin and it was frustrating. I'm not new to moving money around electronically, I've played online poker since 2006 and have been familiar with so many payment processors over that period. What do you say to someone like me to convince me. Who is likely more adept to using the relevant technology than most of the population --- yet still encounters these barriers to access something that is reaching to attain widespread acceptance as a legitimate currency?
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.
Experienced miner looking to buy ~1 BTC in Australia with <12 hour timeframe... the nightmare begins??? Cash deposit at bank only possibility?
This is my first experience 'buying' bitcoins. It certainly has not been pleasant so far. I can see why a lot of people would give up or find it too complex. I'm not verified at Mt.Gox and would be too slow. No phone or sms services seem to be available / have coins / work in Australia. Blockchain.info wallet gives me no funding options from any services in any currency (thanks!?). BitInstant/zipzap funding seems not available or not possible??? Also bitinstant is doing some kind of maintenance according to their frontpage...? Numerous other shitty sites registered for but never come through. Paypal is a joke because no one trusts me not to do a chargeback (everyone's a scammer and/or a criminal, riiiiight?). Although I do currently have a virwox "Paypal SSL BTC" transfer pending, it will take at least another day to process... (Doing it as a experiment, not because of desperation.) Localbitcoins seems unlikely to be arranged and a done deal in time. Any service involving credit cards seems to have delays/waits of 24-48 hours minimum. Seems my only option is to deposit cash at a bank with spendbitcoins or coinjar. Oh the joy... banks don't open until about 9-10 hours from now... so it'll be cutting it close to my deadline. Is there any options I'm missing? EDIT: ended up using CoinJar... very happy! Crisis averted for now.
183 reviews of VirWoX - "Been using Virwox regularly for 6 months, It is what it is... Where else can you use paypal to buy bitcoin? Very little sites will accommodate this or seem shady. Once your commission rate is lower you will pay less in fees. I would avoid using virwox for small bitcoin transfers under $100 as there is an automatic 0.0005 withdrawl fee so I usually wait until i have a ... VirWoX is 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 ... virwox bitcoin withdrawal time - Bitcoin Withdrawal Time at VirWox. The bitcoin withdrawals to your wallet address would be carried out instantly though some transactions might become a subject of a manual check, prolonging the process up to 48 hours. New accounts’ first withdrawal would take about 48 hours due to the security checks. How to pay for a Bitcoin invoice? Step-By-Step Guide (Updated 2020) CoinGate Paying for a Bitcoin invoice is easy. Here we’ll walk you through the steps of the whole process: how to pay, what happens when you pay too little, too much, or too late. To pay a Bitcoin invoice, first you’ll need a working Bitcoin wallet and some bitcoins. 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 ...
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