Virwox is gone

[seoincorporation]

Yesterday i realized virwox has closed his doors. Virwox used to be an exchange who let us buy and sell bitcoins for PayPal, their fees were high as hell but was a secure way to deal with Bitcoin/Paypal without being scammed.

That exchange has another important coin called linden dollar, this was the coin of the game Second Life, and looks like without that exchange the only way to trade this coin is now only in the game.

So, does any one know why this service close?

[Ryushin]

Out of fund maybe? Since they don't exit with users finds I can't say they are scam, let go of the tokens if you still have them and move on

[kaconk]

Virwox already closing down since january 6, 2020 maybe the reason is because there is no demand and paypal don't support anymore. and actually this issue already discussed before. [here]

[bitcoin-shark]

virwox was one of the first sites where or bought bitcoins, there were many passes and the final high fees (almost 20%) but you could use paypal and for me it was an important thing I hope their problems are only temporary and the site reopens soon...

[batang_bitcoin]

No reason indicated but this must be the same with other business that closes due to the lack of funding or they can't handle the business anymore. I can also see that there are other existing services that offers the same thing and has a better offer with such lower fee.
It's indicated on their website that they are recommending bitpanda, maybe they have merged? I remember virwox and I've got to used them despite of having fees but very useful.

[leowonderful]

I imagine that the site had problems with a lower userbase as time passed and as people have largely shifted over to using other methods of payment to exchange fiat to Bitcoin, or the issue might just be as simple as a problem with PayPal perhaps due to chargebacks that caused the site to become unprofitable and thus shut down. I don't see any announcements from the site that states more clearly why the site is shutting down or much information at all, though. It's anyone's guess at this point.

If anyone's here looking for alternatives, take a peep at the Currency Exchange section. If you're a newer member people might turn you down for the reason of chargebacks being common with PayPal even through Friends and Family payment, but you'll likely be paying much lower fees than VirWox ever did.

[aemma]

I have never heard of the platform before and it looks like a good one from the little I have read up from previous replies. Nevertheless, I think one of the things or reasons which can make a platform close its doors maybe when users no longer patronise them that much thus reducing their chances of generating funds. That is to say, once there is no sufficient funds to run the platform, closing up  seems to be the best option, since it doesn't make sense running a platform which doesn't bring gains or profits. Another reason might be restrictions which they can't cope with.

[forexandcryptoauditor]

There are projects which did not succeed in raising enough funds. Such projects tries to survive with development using accumulated funds, but realises later that they are not capable of running operations.

[Febo]

So, does any one know why this service close?

They earned a lot. Some people have a limit how much they need to last fro their life time. For people that were in Bitcoin early that is not that hard really. Now is many more exchanges for them to compete with.

[pixie85]

virwox was one of the first sites where or bought bitcoins, there were many passes and the final high fees (almost 20%) but you could use paypal and for me it was an important thing I hope their problems are only temporary and the site reopens soon...

PayPal has its own fees. Is using them so important to you that you'd be willing to pay 20% exchange fee and then pay again if you decide to do anything with your paypal money? That's crazy.

They closed down because there was no demand and I don't think they'll reopen. There's really not that many people who'll pay premium just to get paypal money when they can get cash from an ATM much cheaper on any other platform.

[Vectra]

Bought my first bitcoins at virvox, back in the run to 160$. Good times.

[seoincorporation]

They earned a lot. Some people have a limit how much they need to last fro their life time. For people that were in Bitcoin early that is not that hard really. Now is many more exchanges for them to compete with.

They earned a lot but i think that's isn't a good reason to close a business, if the business is good and they can make more money with it, they should keep it.

Bought my first bitcoins at virvox, back in the run to 160$. Good times.

Thos old times my friend, i remember them too, and miss them a lot XD

[jossiel]

Bought my first bitcoins at virvox, back in the run to 160$. Good times.

You're the luckiest if you still have those or sold during 2017 ATH.

There are projects which did not succeed in raising enough funds. Such projects tries to survive with development using accumulated funds, but realises later that they are not capable of running operations.

Virwox isn't actually a project but it's a service that's one of the earliest in the bitcoin scene. They have their own reasons why they stopped and one could be because a lot of exchanges have come to actually do whatever they do. And that's about the competition and they can no longer operate and that's their own will to give up on their service or focus with other endeavors.