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VirWox Exchange Review: Fees, Pros, Cons and Features

Founded in 2007, VirWox allows its users to buy Second Life’s Linden Dollars (SLL), which they can exchange for Bitcoin. Unlike other crypto exchanges, it only supports Bitcoin.
Rating 2/5

VirWox is an online exchange platform that allows users to buy and sell a range of virtual currencies – including that of Bitcoin.

Although the exchange primarily focuses on virtual currencies that are used in online games, a number of payment methods are supported to buy Bitcoin (Inclduing the ability to buy Bitcoin with a credit card).

If you’re thinking about buying Bitcoin through the VirWox website, then we would suggest reading our comprehensive guide first. We’ll cover everything from fees, payment methods, supported coins, how to get started, and more.

If you don’t have the time to read our guide all the way through, then we concluded by stating that we cannot endorse VirWox.

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    The key reasons for this is that buying crypto through VirWox is expensive and very time consuming, and the website is not regulated. We instead prefer safe and regulated platforms such as Coinbase, who make it super easy to buy and sell crypto, more than 15 coins are supported, and you can use a debit/credit card.

    What is VirWoX?

    VirWox, which stands for the Virtual World Exchange, is a virtual currency exchange that was launched way back in 2007. This makes it even older than Bitcoin itself!

    The platform was originally set-up to allow people to buy and sell Second Life’s Linden Dollars (SLL), which is the virtual currency used in the game of the same name. However, the platform has since added additional virtual currencies to its portfolio, including Bitcoin.

    It is important to note that while it is possible to buy Bitcoin on VirWox, you can’t actually buy it directly. Instead, you need to obtain SLL dollars, and then transfer the SLL dollars to Bitcoin. As such, this makes it really expensive and inefficient.

    How does VirWoX Work?

    As noted above, VirWox does not operate in the same way as other cryptocurrency exchanges. The reason for this is that the platform does not actually sell Bitcoin. Instead, the platform specializes in SLL dollars, which you can exchange for Bitcoin.

    In terms of getting funds into VirWox, the platform allows you to use PayPal and Skrill. As such, you’d need to transfer funds via PayPal, use the credit OMC funds to buy SLL dollars, exchange SLL dollars for Bitcoin, and then withdraw your Bitcoin to a Bitcoin wallets. Alternatively, you do have the option of the keeping your Bitcoin in your Virwox account, however, this is extremely risky.

    As a third party exchange between buyers and sellers, VirWox makes its money by charging users transaction and trading fees. As you need to make multiple trades just to get hold of Bitcoin, this can be hugely costly.

    As you’ve probably figured out, the only cryptocurrency listed on the VirWox platform is Bitcoin. As such, if you want to buy Ethereum with Paypal, as well as 14 other cryptocurrencies, then you’re best off using Coinbase.

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    Number of Coins
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    Trading Fees
    SpreadsSpreads0.1%0.1%0.1%0.1%0.50%Spreads0.2%
    Deposit Fees
    N/AN/AN/AN/AN/AN/AN/AN/AN/A
    Withdrawal Fees
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