Can someone explain what "Virwox" is?

[soul108]

Thanks! 

[soul108]

I have heard people talk about it here on these forums

[GarrusV]

Virwox is essentially a platform you can use to convert paypal money to bitcoins: http://www.btcpedia.com/buy-bitcoins-with-paypal-credit-card/
You can also use it to buy litecoins: http://www.btcpedia.com/buy-litecoin-with-paypal-credit-card/

[arjay45]

If so, that probably won't last long. Seems paypal shuts down everyone that tries or allows conversion of money to bitcoin through their service. Though, paypal did say they were looking into bitcoin... who knows maybe they'll set up their own bitpay-like service one day.

BTW I'm pretty sure you can edit the title of threads so there's no need to create a new thread because of a spelling mistake.

[soul108]

BTW I'm pretty sure you can edit the title of threads so there's no need to create a new thread because of a spelling mistake.

how?

[arjay45]

I have never tried it, but perhaps try editing the original post and change the subject line. It will probably work.

[soul108]

Virwox is essentially a platform you can use to convert paypal money to bitcoins: http://www.btcpedia.com/buy-bitcoins-with-paypal-credit-card/
You can also use it to buy litecoins: http://www.btcpedia.com/buy-litecoin-with-paypal-credit-card/

Ok thanks! That was really helpful!

But it seems expensive.

I found another way to get BTC that seems easy and cheap.

get an account with Dolla.com deposit money with them (only $.25 to deposit almost any amount of USD to your Dwolla account.

then head over to Mtgox and transfer the funds from Dwolla to your mtgox account. as far as I can tell mtgox does not charge a fee to transfer funds from Dwolla to mtgox. Then buy BTC.

This seems like by far the easiest and cheapest way to buy BTC. as far as I can tell.

Any one else want to comment?

[soul108]

ok here is a cool video on this!  http://youtu.be/0Bgs0OEQv7Q

Special thenks to GarrusV for the link!

[stulowe]

I've used virwox to get bitcoins a few times. It's a little bit of a pricey way of doing it but it works.

[GarrusV]

As with most things, economies of scales apply, so if you add more in bulk rather than little transactions, you pay lower fees. Also in the case of the Virwox they have an account duration reward system, by this I mean that on day1 you can only withdraw 75$, then after 10 days that increases to 130$ and so on. Also should point out that you shouldn't leave money sitting in an online exchange like Vircurex because they can (and are) get hacked, so store them in a wallet on your desktop or elsewhere, I'm sure there are others who know more on the subject than I.

[morinaga]

i think its an exchange or exchange wannabe

[GarrusV]

It's a legit exchange that's been around to support Second Life.