VirWox Review

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Overview
Good

Offers multiple payment options for customers to make use of. This platform also comes forth with minimal verification hassles.

Bad

Customer support in several occasions can be an issue for individuals followed by higher processing fees.

Overall

VirWox is a reliable digital currency exchange with a lot of credibility to its name. This online service provider allows individuals to purchase Bitcoins via PayPal and that too without them having to worry about safety, security and stringent laws. In a nutshell, VirWox is an easy to use platform with a highly trusted modus operandi.

Detailed Review

VirWox is a centralized digital currency exchange with its roots in Austria. This firm has been existent since 2007 and specializes in SecondLife Lindens. When it comes to the processing fees, the company charges somewhere between 7-12 percent, depending upon the nature of transactions. Moreover, this is one great platform for quick Bitcoin conversions, keeping unnecessary verification laws at bay.

Understanding the 'Fee' Conundrum

This online exchange levies higher processing fees as compared to other service providers. However, there are a host of reasons that can readily justify the company’s credibility and the prices charged on transactions. Firstly, the PayPal to Bitcoin conversions and vice versa are quite intricate to execute and prone to higher risks of fraudulency. This in turn vindicates the higher fee range for the associated transactions as better services do come at a premium tick. Moreover, the initial motto of this exchange was not to trade Bitcoins but to process other forms of virtual currencies. Therefore, the existing SecondLife Linden gateway for making purchases results in slightly higher charges.

Lack of Competition

VirWox hasn’t been facing a lot of competition from other service providers as it is probably the only genuine platform to allow PayPal integration for Bitcoin purchases. This is why loyal customers are still willing to pay higher processing fees instead of opting for a competitor. Apart from that, this online client comes forth with a systematic calculator that helps individuals assess the rates and overhead costs before making the purchase. Moreover, calculating the rates is also a pretty simple process.

End-User Attractions

Unlike many digital currency exchanges, this firm has a lot to offer in terms of utility and functionality. New users need not wait long for account validation and even for verification purposes; only the basic details are required. Moreover, there is nothing like maximum or minimum deposit requirements for the Bitcoins. This is one globally recognized exchange which can seamlessly work with a host of fiat currencies, including the CHF, GBP, EUR and USD. Lastly, when it comes to assessing the withdrawal and deposit options, this virtual currency exchange supports a wide-range of selections, including PayPal, debit cards, credit cards, uKash, Skrill and several other avenues.

On How to Use the Exchange

There are two strategies for leveraging VirWox in the best possible manner. The first technique aims at helping the impatient users who need to accept the best market rates for quick remittance of the concerned currencies. The next approach targets customers who are willing to wait for better rates by placing limit orders and other metrics. This process depends on the end-user and an offer gets accepted only when someone else looks for something similar.

Legitimacy and Privacy

Here is an online platform that boasts of a secured user-interface and an extremely trusted framework. It is, however, advisable to select good and strong passwords for the account. User privacy is taken good care of as VirWox cuts off documentation from the scheme of things. Apart from that, the confidential details, if provided are handled with great care. In addition to that, this company doesn’t store credit or debit card information under any circumstance.

Bottom-Line

VirWox is a trusted client which offers the best possible deals on BTC exchanges. The rates are slightly on the higher side but this platform boasts of better services and a host of other features; only for a few extra bucks.

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