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VirWox virtual currency exchange – review

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VirWox is a time-tested virtual currency exchange with a key point of difference: you can buy bitcoin through PayPal.

Founded in 2007, the Virtual World Currency (VirWox) is one of the world’s oldest online currency exchanges. It has become a leading independent exchange for virtual currency trading. It was originally set up to trade Second Life Lindens (SLL) and other virtual currencies used in online gaming before expanding into bitcoin in 2011.


Fiat currencies




Product Name VirWox Virtual Currency Exchange
Fiat Currencies EUR, USD, CHF, GBP
Cryptocurrencies BTC
Deposit Methods Credit card
Debit card
Trading Fee 2.5-20%
Deposit Fees PayPal: Fees vary
Credit/debit card: Fees vary
Skrill: Fees vary
SOFORT: 2.5%
paysafe: 20%
Other: None
Withdrawal Fees Cryptocurrency: 0.0005 BTC per withdrawal
PayPal: 1 EUR (1 USD, 1 CHF, 1 GBP) + 2%
Other: 1 EUR (1 USD, 1 CHF, 1 GBP)


  • One of the oldest exchanges dealing with virtual currency and bitcoin
  • The ability to buy bitcoin through PayPal
  • Good privacy standards


  • High fees when compared with other platforms
  • Negative reviews over high fees and seemingly random account bans
  • Bland user interface
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

VirWox shuts down

On 6 January 2020, VirWox permanently shut down. At the time of its closure, it was one of the world’s longest continually-operating cryptocurrency trading venues.

If you’re looking for an alternative place to buy and sell Bitcoin and other cryptocurrencies, you can compare alternative cryptocurrency exchanges here.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: EUR, USD, CHF, GBP
  • Supported cryptocurrencies: 1 cryptocurrencies
  • BTC

Which payments methods are accepted?

  • Credit card
  • Debit card
  • PayPal

What is VirWox?

The Austrian-based VirWox was established just before the cryptocurrency revolution to enable users to trade SLL and other online gaming tokens.

Since venturing into bitcoin in 2011, VirWox has become a popular method for buying bitcoin through PayPal. Technically, the platform only supports the exchange of bitcoin for Linden Dollars, which is the virtual currency used in the online virtual world >Second Life. You can get around this by first purchasing Linden Dollars and then using them to buy bitcoin.

To buy bitcoin with VirWox, follow this process:

  1. Deposit money into your account via PayPal.
  2. Purchase SLL on the first currency exchange (i.e. SLL/USD).
  3. Buy bitcoin with your newly purchased SLL on the BTC/USD exchange.
  4. Withdraw your bitcoin.

Countries supported

  • VirWox is available worldwide.

How much will it cost me to use VirWox?

  • VirWox charges 50 Linden Dollars (about $0.20) plus 2.9% for bitcoin/Linden Dollar (BTC/SLL) market orders. The fee for limit orders depends on volume but generally varies between 0.78% and 3.9%.
  • VirWox charges 0.001 BTC for bitcoin withdrawals.
  • Deposits in bitcoin are free.

How quickly will my funds be available?

For security reasons, bitcoin withdrawals are subject to manual review, which usually slows the withdrawal process. This is especially true for new accounts.

VirWox typically delays your first bitcoin withdrawal by 48 hours.

Are there any transfer limits?

For security reasons, VirWox restricts deposits made through PayPal. The limits (in euros) are outlined below. The levels seem to coincide with the number of days since your first successful deposit. This means you’ll work your way up the levels the more you use the platform.

Level 0Level 1Level 2Level 3Level 4
Limits in EURImmediatelyAfter 10 daysAfter 30 daysAfter 60 daysOn request
PayPal/Skrill depositsPer 24 hours901202004001,000
PayPal/Skrill depositsPer 30 days2709002,0004,00010,000

There are no limits on withdrawals.

Is VirWox considered secure?

To combat fraud, VirWox takes a very conservative approach to safeguarding its platform. For this reason, many account holders have been banned from using the service.

Unlike other exchanges, VirWox asks for a modest amount of personally identifiable information, with a promise to keep the details private.

The website purposely avoids giving too much detail about its security policy. However, given that accounts are merely password protected, they may be less secure than those of other platforms which utilize two-factor authentication.

Customer support

VirWox has a lengthy FAQ section that can guide you through account setup and help you troubleshoot any issues that you encounter.

Customer support and even the managing director can be reached through email.

Pros & cons


  • One of the oldest exchanges dealing with virtual currency and bitcoin
  • The ability to buy bitcoin through PayPal
  • Good privacy standards


  • High fees when compared with other platforms
  • Negative reviews over high fees and seemingly random account bans
  • Bland user interface

Next steps

First you need to consider the features and decide whether you want to be a purchaser. If you’re ready to get started with VirWox, simply visit the website, register using the “Registration” page and login within 24 hours. You can change your password using the “Change Settings” page.

You are now ready to open an account and fund it with the currency you want to exchange.

Remember, you must first buy Linden Dollars before you can purchase bitcoin. Once you get the hang of it, the process is fairly straightforward.

VirWox website

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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