Looking forward to Buy Dash With PayPal or Credit Card or Debit Card legally ? If Yes! following are the instructions to do so. Dash (formerly known as Darkcoin and XCoin), short for digital cash ( “digital cash”), has seen its share price rise to the maximum $ 57.75 per unit. With a market cap of $ 329 million, the Dash cryptocurrency stands third largest by market capitalization, second only to Bitcoin and Ethereum. The price of a single Dash has doubled in the space of a week, witnessing the growing interest of investors in cryptocurrency.
Monero and Zcash are another crypto currencies following the lead of Dash in terms of filling privacy holes left by Bitcoin. Ryan Taylor, Director of Finance at Dash, reported that digital currency has grown steadily thanks to a growing number of exchanges and digital payments vendors who have decided to embrace the currency. The trading volume average daily has increased by 1,700% in the fourth quarter, compared to the same period in 2015. There are thirty-one of the centers of exchange that currently allow customers to buy the Dash through 42 different currency pairs.
To buy and sell Dash, the user must register with any exchange house of his choice and enter the data that the platform requires to start trading. These data can range from full name, email and residence address, to phone number, passport and bank statements. Many of us don’t want to share our personal details like bank account number and passport details with third parties, here comes PayPal, Credit and Debit Cards handy.
Here comes the main issue, almost every exchange house doesn’t support PayPal, Credit Card and Debit Card transactions due to fraudulent charge-back issue. Fraudster buy coins with PayPal, Credit Card and after receiving coins they falsely complains to PayPal or their respective credit card company that they never received the goods. Since PayPal terms of services (PayPal TOS 3.7) already abandoned virtual currencies, they favor in term of buyer and not the seller. This has caused genuine buyers and sellers a lot of frustration over the last few years.
So it’s impossible to Buy Dash With PayPal or Credit Card? Technically Yes! But thanks to VirWoX, a virtual currency exchange with interests in the currencies of virtual worlds game such as Second Life, currency is known as Linden Dollar (SLL) it is possible to buy with a little work around.
Buy Dash With PayPal or Credit Card
In order to Buy Dash With PayPal, we have to buy bitcoin first from VirWoX Exchange. VirWoX is a virtual currency exchange site that primarily caters to the currencies of various virtual worlds such as Second Life aka Linden dollar aka SLL. VirWoX was born as a platform for buying and selling Linden dollars,the currency of Second Life (USD/SLL). Later VirWoX expanded its borders to include the exchange of Linden with Bitcoin (SLL/BTC). Being a Linden $ primary exchange, Bitcoin exchange rate is not favorable due to lose of a few dollars in the conversion. However VirWoX makes you able to purchase in the easiest way of all, that is, through Paypal, Credit Card or Debit Card.
Phase One : Buy Bitcoin At VirWoX
Step One : Open a VirWoX account
Go to VirWoX.com, look for the link, “Not Registered Yet?” click on this link. Enter your desired user name as well as your email address, first name, last name, country, and desired language. Leave rest of the options as blank.
After registration, VirWoX will send a temporary password to your email. After logging into your account, you can change the password in the “Change Settings” tab. If you do not change your password, your account will be deleted.
Ignore message saying “Your avatar connection has not been validated yet“, you don’t need to verify your avatar.
Step Two : Deposit Money into VirWoX
Click the “Deposit” link in the menu on the left side of the screen. Scroll down a little bit and you’ll find options of Credit / Debit Cards and PayPal. Just enter the amount you want to deposit and click the “Checkout with PayPal” button for Paypal. You will be re-directed to your PayPal account, where you can login and make the payment. You can also choose checkout with Visa, Master Card, American Express, JCB or Diners as per your Credit Card company.
VirWoX also support a wide range of other payment processor Visa / MasterCard Credit Card, UKASH, Paysafe Card, Money Bookers, Sofort banking or Neteller etc.
Note : Brand new accounts will have restrictions on how much you are able deposit.
Step Three : Trade EUR, USD or GBP into Linden Dollars
Once you confirm the payment, you will be re-directed back to the Virwox website. On the VirWoX homepage, click on the link that lists your currency’s trading pair with SLL (EUR/SLL, USD/SLL, GBP/SLL). For example, if you deposited your money in USD then click on USD/SLL. This will take you to a page that lets you trade from your currency into Linden Dollars.
You have two options on how you want to trade: market trade and limit trade. By trading at the “market price” you will agree to sell your currency for Linden Dollars at the highest amount that someone else has already agreed to pay for it. If you want to specify a certain price that you are willing to pay, you will need to use a “limit trade“.
If you choose to use a limit trade, you should ensure that your price is reasonable compared to the other prices in the “Offer to buy [your currency]” box at the top of the page. This will increase the chances of someone else accepting your limit trade.
Step Four : Trade SLL into Bitcoin
Now that you have SLL, you can buy Bitcoin, use the same process as in previous step using the BTC/SLL trading pair to convert it into Bitcoin.
In the “BTC/SLL” section your bitcoin amount will default to the maximum you are able to purchase with your SLL balance. You can also change this to Limit Trade and set your own price.
Step Five : Setup Bitcoin Wallet
Next, you’ll want your Bitcoin wallet from Blockchain.info,
- Go to blockchain.info/wallet/ and click on create your wallet.
- Enter your email i’d and set a unique password
- Click on Receive and a string of characters will pop up like this: 1BEVrRYyTGEt1ggiGnmBJsAzr7UUARUm4B. That is the address you’ll need for transferring bitcoins from VirWoX to your blockchain.info wallet.
When everything is ready, click “Done”.
Step Six : Transfer BTC from VirWoX to your Wallet
To withdraw your bitcoin from VirWoX exchange to wallet simply click on the “Withdraw” link under “My Accounts.” tab. You will need to specify the amount of bitcoin you would like to withdraw, as well as the bitcoin wallet address you would like to withdraw your bitcoins to. Paste the address you generated at blockchain.info wallet in previous step and hit the withdraw button. Shortly after your payment will be confirmed over the bitcoin blockchain.
Note : For new VirWoX accounts, bitcoin transfer can take up to 48 hours. You will get confirmation once your withdrawal has been processed. After you receive bitcoin in your blockchain.info wallet, you can move to next step to convert these bitcoins in to Dash.
Phase Two : Trade Bitcoins With Dash at Shapeshift.io
Step One : Get a Dash Wallet
Alright, now it’s time to trade your BTC for DASH. To do this, you will first need a Dash address, so that Shapeshift can send the Dash Coins back to you. For quick setup, a 3rd party wallet at Exodus.io and Jaxx.io works great. These wallets are checked, tested and got positive reviews from Dash community members. You can also setup your own wallet on PC, Mac or Linux. For instructions follow our previous post on >> Create A Secure Dash Wallet On PC
Step Two : Choose Which Coins to Trade
Next, you’ll go to ShapeShift.io and select Bitcoin as Deposit and Dash as Receive by clicking on the two big currency logos, just like image given below, and then clicking “Continue”.
When everything is ready, click “Continue”.
Step Three : Add the Details of Your Trade
Now Shapeshift will ask you for your Dash and Bitcoin addresses. Bitcoin address is optional but highly recommended, in case of a fail transaction shapeshift will return your bitcoins to the address you provide. We recommend you to generate an additional bitcoin address from blockchain.info wallet for this purpose.
Click “I agree to the Terms”. When everything is ready, click “Start Transaction”.
Step Four : Finalize your Trade at Shapeshift
On the next page you’ll see the flashing text that says “Awaiting Deposit”. This means the Shapeshift website is ready for you to send them some Bitcoin. To send it to them, look for the string of text after “Send To This Address” for i.e 1xJMx43to5ncvFUSjxgkyzRnCNhWvbng7. This is the Bitcoin address that Shapeshift created for your trade. Copy it and go back to Blockchain.info/wallet and follow the next step.
Step Five : Transfer the Funds from BTC Wallet To Shapeshift
Locate “Send” button at the top left of your blockcchain.info/wallet and click on it. Now paste the address Shapeshift gave you in previous step into the “Recipient” box. Type the amount of Bitcoin to send into the “Amount” box and click the blue “Send Funds” button. Click “Confirm” on the box that pops up, and your Bitcoin transaction to Shapeshift is complete.
Shortly after your payment is confirm over the bitcoin blockchain. Shapeshift will release your Dash Coins (DASH) to the given wallet. That’s it.