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Virwox is one of the first exchangers available on the market, being created in 2007. At the beginning, you could only trade SLL and other different currency but in 2011 Virwox added bitcoin and other popular cryptocurrencies available for trades. This was a big advantage for users because they realized they could buy SLL using PayPal and the trade it for bitcoin in order to withdraw it, but also for Virwox because the volume of SLL currency started to grow seriously. Virwox has over 1 million registered users on their website which proves its not just an ordinary exchange. SLL and ACD are the most traded coins. People trade about 4 million SLL coins every month and 2 million ACD coins every month.
The best thing about Virwox is that you can buy bitcoin with your PayPal account, something that only a very few exchangers offer. The whole process is very easy:
1)With PayPal you add money to your account
2)You buy SLL
3)You exchange SLL for bitcoin and you withdraw it into any wallet you want.
In order for everyone to make the best deal, there are two trading options available on Virwox. The first method is for people who want to make a quick transaction even if the fees are higher while the second method is for people who want to get the best deal even if they have to wait a longer time.
Deposit Methods / Fees / Limits /Levels
PayPal is the main method used for deposits but the customer will pay the fees required by PayPal. The fee is not fixed because it varies on a combination of multiple factors. Customers also have to pay the fees for transactions made with credit /debit card or Skrill. The fee is 0.39€+3.5%. The last option is Paysafecard but there is a huge fee of 20%.SLL and ACD are two of the most popular currencies offered. People trade about 4 million SLL coins every month and 2 million ACD coins every month.
The deposit limit can vary depending on your level. For example, in the beginning, you can only deposit up to 90$ daily and 270$ monthly. When you reach the highest level you will be able to deposit 1000$ daily and 15.000$ monthly.
Withdrawals
There are no limits for withdrawals. Withdrawing SLL to an SLL wallet takes a few seconds. Withdrawals to bank accounts, PayPal or Skrill take up to a few days because they are not automated and require manual operations. Bitcoin withdrawal fee is 0.0005BTC, while the fee for PayPal withdrawal is 1$/€/£+2%. Bank transfer and Skrill fee is 1$/€/£.
From what I have searched on the internet, you can't find that many good opinions about Virwox and that's because of two problems people have with this exchanger. One of them is pretty big fees and the second one is because a lot of people get their accounts banned. From my research people get their accounts banned without any reason from Virwox but all of them get their funds back. There is no case where someone didn't receive his/her money back from Virwox.
In my opinion, Virwox is legit but it has a lot of disadvantages if you want to use it. It has high fees, long transaction time and poor support but if this is your last option it could work. Did any of you guys have a good/bad experience with Virwox? Please share it!
I just want to exchange my paypal cash to bitcoin..
