Purchasing bitcoin is usually pretty simple, but it depends on your country, some fiat-crypto exchanges do not support all countries, additionally you may just have some spare dollars in your PayPal account which you don't have a use for.
Most exchanges do not allow PayPal to Crypto exchange as PayPal funds can be reversed and Crypto cannot.
Enter Virwox
Virwox is a Virtual World Exchange, primarily used for purchasing in-game currency. They also support exchanging game currencies for Bitcoin, which is what we'll be using.
Create a Virwox Account
You can create a new account on Virwox by clicking here.
1. Click Not Registered yet?
2. Fill in your personal details.
You can safely leave the following fields empty:
- Avatar
- TIN
- Voucher
Be sure to agree to their Terms & Conditions (obviously after you've totally read the whole thing), fill out the Captcha and click Register !
3. Wait for the confirmation mail in your inbox, it will contain your temporary password, once you have it login.
Your username is what you've entered in Step 2 - and your password is the one contained in the confirmation mail you've received from Virwox.
4. After login you'll be presented with the following notice:
Do exactly as told and change your password.
Depositing Funds
1. Under My Account, select Deposit.
2. Find your payment method of choice and enter the amount you would like to convert to Bitcoin.
3. Login to PayPal when prompted and authenticate the transaction. Usually these transactions are cleared immediately - with the exception of new accounts, sometimes these go through a verification process if randomly selected.
Exchanging Funds
1. Virwox does not allow FIAT Currency to BTC conversion, so you first need to convert your FIAT (EUR in my case) to SLL (Second-Life Linden). Under Exchange click on your currency / SLL, in my case this was EUR/SLL. (If you've deposited USD, then select USD/SLL).
2. In the Market Order pane, sell your currency pair (i.e. I want to sell USD / I want to sell EUR) then enter the amount you would like to exchange and click Next >. This will purchase SLL with your FIAT currency.
3. If everything went as planned you'll be presented with this:
You should contain SLL in your balance on the left.
4. You can now safely convert your SLL to Bitcoin, under Exchange select BTC/SLL.
5. Follow the same steps you did for converting your FIAT currency to SLL in Step 2. This exchange will take a bit longer as the transaction needs to go through a few confirmations on the blockchain. When it's done your Balance will be updated with BTC.
Withdrawing your Bitcoin
1. Under My Account click Withdraw.
2. Enter the amount of Bitcoin you want to withdraw and your wallet address. This again, will take a while - keep checking your wallet.
In conclusion
I hope you enjoyed my guide and I hope it helped you! I had fun writing it, this was however my first guide and English is not my native language, so I do apologize if I offended you with my writing.
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