With this Tutorial you are going to be able to Buy Bitcoins with PayPal or Credit Card within minutes.
Following are the details and instructions to buy bitcoins 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.
In this simple guide we are going to have to go through VirWoX, the worlds largest exchange of SLL (Second Life Linden Dollars).
First thing to do is to have a look at VirWoX, VirWoX works as an virtual currency exchanger where the people place bids and makes offers for BTC in exchange of Linden Dollar (SLL) and vice versa. First step is 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 / illegal transaction risks / a hacked paypal account risk is involved, VirWoX restricts deposits via PayPal and Credit Cards for a limited time.
VirWox Deposit Limits
Note : There is no limit on withdrawals, in some cases it may take up to 48 hours maximum for Bitcoin withdrawals.
Buy Bitcoins With Paypa or Credit Card Steps
- Go to VirWoX and register an account there. Choose your username and email address. You can choose any random name for the “avatar name”. Once registration is done, login to your account and ignore the popup message showing “your avatar connection has not been validated yet”, since you don’t need to verify your avatar.
- Step 2. Click the Deposit button in the left sidebar and add some money, it can be USD / EUR to your Virwox account. They accept Paypal, Credit Card, UKASH, PaysafeCard, Skrill, Sofort Banking and Neteller.
- Step 3. Now the next step is to buy some SLL with the funds you just added previously. Go to the left sidebar and click Exchange > USD/SLL or EUR SLL, choose your own currency. We will later have to use these SLL to perform the exchange with BTC.
- Step 4. Once you have filled out some SLL funds inside your account, just go to the Exchange > BTC/SLL and buy BTC with your SLL funds.
You have two options to trade SLL for the Bitcoins :
- You always want your order to be processed instantly: For this to happen you would simply accept the best available rate at the time and place a “market order“.
- You are willing to wait for an even best rate: If that is the case, just place a “limit order” and specify your desired rate. Your order will only get processed if and when somebody is going to accept your offer.
- Step 5. That is the end, now you own BTC inside your VirWoX wallet, so you can transfer these BTC to your personal wallet of choice. Then go to “Withdraw” on the left side and add the bitcoin payee address, BTC amount and click the withdrawal button.
- Step 6. If you find any issue just post it in comments section, we’ll try to help.
Now you know how to Buy Bitcoins with PayPal or Credit Card, enjoy.