Following are the details and instructions to buy Bitcoin with PayPal or Credit Card. As you know major Bitcoin exchanges and seller don’t accept Paypal and Credit Card. This is largely due to the cases where someone purchase Bitcoins with Paypal, Credit Card and after receiving Bitcoins they fraudulently complains to Paypal or their Credit Card provider that they never received the goods. Since Bitcoin isn’t run by any authority, it’s near impossible for seller to prove his legitimacy. That’s why most of the seller avoid Paypal and Credit Card transactions.
Note : If you are looking forward to day trade Litecoins then check this guide too >> Guide To Buy / Sell Bitcoin, Litecoin With Plus500 CFD.
In this guide we are going to have to go through VirWoX, worlds largest exchange of SLL (Second Life Linden Dollars). First of all have a look at VirWoX, VirWoX operates as an virtual currency exchange where people place bids and offers for Bitcoins in exchange of Linden Dollar (SLL) and vice versa. First you have to buy Linden Dollars for real-world currency i.e. USD and EURO, and then buy BTC for your Linden Dollars.
Because of the fraudulent risks / hacked paypal account risk is involved, VirWoX restricts deposits via PayPal and Credit Cards deposits for a limited time.
|PayPal / Credit Card||Deposit Per 24 hours||Deposit Per 30 days|
|Upon Registration||60 EUR||180 EUR|
|After 10 Days||100 EUR||500 EUR|
|After 60 Days||200 EUR||2,000 EUR|
|After 90 Days||300 EUR||3,000 EUR|
|By Request Only||8,000 EUR||80,000 EUR|
Note : There is no limit on withdrawals, in some cases it may take up to 48 hours maximum for Bitcoin withdrawals.
Buy Bitcoins With Paypal & Credit Card
Step 1. Go to VirWoX and and click on “Not registered yet” link.
Register an account with them. Fill out your username and email address. Fill out any name you like where it asks for “avatar name”. Once registration is finished, login to your account and ignore the message saying “your avatar connection has not been validated yet”, you don’t need to verify your avatar.
Step 2. Now login to your account and change your password. Login again with new password and click on Deposit button in left sidebar and add some funds (USD / EUR) to your Virwox account, using Paypal, Credit Card, UKASH, Paysafe Card, Money Bookers, Sofort banking or Neteller.
Step 3. Now buy some SLL with the funds you added in previous step. SLL aka Linden $ is currency of The virtual world, Second Life. To buy SLL, navigate to left sidebar and go to Exchange >>>USD/SLL or EUR SLL, depending on your currency. We will later use these SLL to exchange with Bitcoins.
Step 4. Once you have filled some SLL in your account, go to the Exchange >>> BTC/SLL and buy Bitcoins with your SLL.
There are two options to trade SLL for Bitcoins :
1. You want your order executed immediately: In this case, you would simply accept the current best available rate, and place a “market order“.
2. You are willing to wait for an even better rate: In this case, you place a “limit order” and specify your desired rate. Of course, your order will only get executed if and when somebody is willing to accept your offer.
Step 5. That’s it, now you own bitcoins in your VirWoX wallet, you can transfer these bitcoins to your personal wallet. Just go to “Withdraw” on the left side and add the bitcoin payee address, bitcoin amount and hit the withdrawal button.
Step 6. If you have any doubt, post it in comments section, we’ll try our best to solve your query in timely manner.
If you still have any doubt then check the video right after the break.