Today I will teach you how to buy Bitcoins with PayPal. We’ll get to the instructions in a minute. But the first thing you need to understand is this: The workaround/hack discussed in this guide has made VirWoX the easiest and most popular way to buy Bitcoins with PayPal. It’s not easy, but yes, it really works and it’s currently the best way to buy Bitcoins with PayPal.
VirWoX: The PayPal-to-Bitcoin-Exchanger
VirWoX is not really a Bitcoin exchanger. VirWoX originally functions as a market for Linden Dollars, a currency used in the virtual world of Second Life. Although you cannot buy Bitcoins directly with PayPal, via VirWoX it is possible to buy Linden Dollars (SLL) and sell them for Bitcoins. This procedure is complex, but works reliably. The main disadvantage is that all associated fees total around 10%.
- Deposit: Deposit dollars or Euros with PayPal to VirWoX.
- Buy SLL: Buy Second Life Linden Dollars with your Dollars or Euros
- Buy Bitcoin: Buy Bitcoins with your Second Life Linden Dollars
- Lift-off! Take the Bitcoins to your own wallet.
1. Open an account on VirWoX
Click on “Not yet registered?” on the homepage.
2. Enter your account information
Now enter your account information to create an account. Don’t be surprised about the section “Connecting with Avatar”. You can ignore this.
3. Check your e-mail
At this point your account has been created. A temporary password will be sent to the email address you provided in step 2.
This password is provisional and MUST be changed. If you do not change this password within 24 hours, your account will be deleted. In the next step we will show you how to change your password.
4. Change password
After you have logged in with your temporary password, click on “Change settings” in the left sidebar.
5. Create a new password
Enter a new password. Make sure to use a strong password, because it’s all about money!
6. Deposit from PayPal
Once you have changed your password, click on “Deposit” in the left sidebar.
7. Deposit money and choose the amount
Scroll down a little to find the PayPal deposit option. Select the amount you wish to deposit on the left and then click on the “Check out with PayPal” button.
8. Log in to PayPal
Log in to PayPal. See on the left side that I’m about to deposit $2. This is the amount I chose in step 7. If this amount does not match the amount you selected, go back and enter a new amount.
9. Checking the account balance
If you have followed PayPal’s instructions, you should now see a balance in your VirWoX account. Note that the amount displayed on your VirWoX account may be slightly lower than you entered in step 7. This is, because PayPal charges a 2.9% + $0.30 fee per deposit.
After this step, click on “USD/SLL”. If you have deposited Euros, click on “EUR/SLL”.
10. Buy USD for Second Life Linden Dollar
Remember when we said you had to buy Second Life Linden dollars and trade them for Bitcoins? So, now we buy the SLL. In this step, you must sell the USD you deposited from PayPal for SLL.
Specify the amount in USD you want to sell.
11. Complete the order
You can see that I now have an account balance in SLL. This means that everything went smoothly.
Now click on “BTC/SLL” in the left sidebar. Now we will exchange our SLL for Bitcoin.
12. Exchange SLL for BTC
The process is the same again. Simply enter the amount in BTC you want to buy and click on “Next”.
13. Buy Bitcoin!
That’s it! You should now be able to view your account balance in BTC at the top left of the screen. You have successfully purchased Bitcoin with PayPal.