Found out why CryptoSea uses Virwox

[JensN]

I was wondering why CryptoSea.com uses Virwox for paypal payouts. Here is the answer {quoted}:
"We use Virwox for completing the paypal payouts because paypal does not allow a direct bitcoin-to-paypal exchange. Going through Virwox is safer for both the client and us."
Email correspondence: http://img1.myimg.de/question7c622.png

http://img1.myimg.de/question7c622.png

[TheFootMan]

I was wondering why CryptoSea.com uses Virwox for paypal payouts. Here is the answer {quoted}:
"We use Virwox for completing the paypal payouts because paypal does not allow a direct bitcoin-to-paypal exchange. Going through Virwox is safer for both the client and us."
Email correspondence: http://img1.myimg.de/question7c622.png

From what I've learned previously, the dudes running Virwox have suits (ie. lawyers) specializing in virtual currencies, and they were around before bitcoin I think. Aren't they big on Linden dollars? So that might be the answer as to why they've been successfull dealing with Paypal for a long time, while small dealers have been quite unsuccesful attempting the same.

But Paypal recently announced some sort of bitcoin integration in their systems, so eventually they might go full blown into bitcoin.

Personally I'd rather see bitcoin take over for Paypal, than to see Paypal embrace bitcoin..

[JensN]

From what I've learned previously, the dudes running Virwox have suits (ie. lawyers) specializing in virtual currencies, and they were around before bitcoin I think. Aren't they big on Linden dollars? So that might be the answer as to why they've been successfull dealing with Paypal for a long time, while small dealers have been quite unsuccesful attempting the same.

But Paypal recently announced some sort of bitcoin integration in their systems, so eventually they might go full blown into bitcoin.

Personally I'd rather see bitcoin take over for Paypal, than to see Paypal embrace bitcoin..

Yes Virwox are the guys with the Linden dollars. And i think their system works someting like this: BTC to Linden Dollars to EUR.

Probably that is why CryptoSea decided to use them for paypal transactions, to avoid getting banned by paypal foir doing direct BTC to EUR transactions.

I would like to see Bitcoin over Paypal too, fingers crossed.

[TheFootMan]

From what I've learned previously, the dudes running Virwox have suits (ie. lawyers) specializing in virtual currencies, and they were around before bitcoin I think. Aren't they big on Linden dollars? So that might be the answer as to why they've been successfull dealing with Paypal for a long time, while small dealers have been quite unsuccesful attempting the same.

But Paypal recently announced some sort of bitcoin integration in their systems, so eventually they might go full blown into bitcoin.

Personally I'd rather see bitcoin take over for Paypal, than to see Paypal embrace bitcoin..

Yes Virwox are the guys with the Linden dollars. And i think their system works someting like this: BTC to Linden Dollars to EUR.

Probably that is why CryptoSea decided to use them for paypal transactions, to avoid getting banned by paypal foir doing direct BTC to EUR transactions.

I would like to see Bitcoin over Paypal too, fingers crossed.

I never used Virwox though, I've heard their fees are quite steep. But if you want to go paypal -> bitcoin with a middle link, it might be an option..

[JensN]

I never used Virwox though, I've heard their fees are quite steep. But if you want to go paypal -> bitcoin with a middle link, it might be an option..

Yeah i have used Virwox.com but the fees are enormous for Personal accounts. Probably CryptoSea.com have some business account registered with Virwox so they are avoiding the fees.

[JensN]

I never used Virwox though, I've heard their fees are quite steep. But if you want to go paypal -> bitcoin with a middle link, it might be an option..

Yeah i have used Virwox.com but the fees are enormous for Personal accounts. Probably CryptoSea.com have some business account registered with Virwox so they are avoiding the fees.

For Cryptosea you may take some better price through this link:
http://cryptosea.com/index.php?code=CrypZWT
The price depends from the amount you are exchanging - bigger amount means better price.

And i would not go with Virwox. Virwox is killing with their fees from the beginning.

thanks for that link man! that's a nice price-boost!

[Grinder]

Just be aware that the last exchange that did this suddenly went rogue and ran off with their buyers money. Could be the same people.

[bababooey]

I never used Virwox though, I've heard their fees are quite steep. But if you want to go paypal -> bitcoin with a middle link, it might be an option..

Yeah i have used Virwox.com but the fees are enormous for Personal accounts. Probably CryptoSea.com have some business account registered with Virwox so they are avoiding the fees.

For Cryptosea you may take some better price through this link:
http://cryptosea.com/index.php?code=CrypZWT
The price depends from the amount you are exchanging - bigger amount means better price.

And i would not go with Virwox. Virwox is killing with their fees from the beginning.

I looked into Virwox myself as I am familiar with Second Life and Linden dollars but the conversions fees are worse than a payday loan place!