Quick BTC from Paypal via Virwox... | Bitcointalksearch.org

scintill

sr. member

Activity: 448

Merit: 254

Quote from: ryanAC on October 05, 2012, 05:55:52 PM

Quote from: scintill on September 21, 2012, 08:45:42 PM

Update on my review from earlier: I just found a foreign transaction fee on my credit card bill -- $1.04 for the $52 I deposited via MoneyBookers. The $52 charge says "MB*VIRWOX LONDON GBR" and I'm in the US. Maybe I could have avoided this somehow, but I wasn't aware of it until I saw it on my bill.

I didn't know you could get fees like this when you're transacting in your card's native currency! Another win for the truly international Bitcoin.

I feel like I had to specify that I wanted the transaction in USD, like perhaps it wasn't the default. Could that be why you got hit with a foreign transaction fee?

Maybe. Something to keep in mind for anyone thinking about doing this. I probably won't do it again since it was so expensive, at least from CC like I did.

ryanAC

member

Activity: 111

Merit: 10

Quote from: scintill on September 21, 2012, 08:45:42 PM

Update on my review from earlier: I just found a foreign transaction fee on my credit card bill -- $1.04 for the $52 I deposited via MoneyBookers. The $52 charge says "MB*VIRWOX LONDON GBR" and I'm in the US. Maybe I could have avoided this somehow, but I wasn't aware of it until I saw it on my bill.

I didn't know you could get fees like this when you're transacting in your card's native currency! Another win for the truly international Bitcoin.

I feel like I had to specify that I wanted the transaction in USD, like perhaps it wasn't the default. Could that be why you got hit with a foreign transaction fee?

scintill

sr. member

Activity: 448

Merit: 254

Update on my review from earlier: I just found a foreign transaction fee on my credit card bill -- $1.04 for the $52 I deposited via MoneyBookers. The $52 charge says "MB*VIRWOX LONDON GBR" and I'm in the US. Maybe I could have avoided this somehow, but I wasn't aware of it until I saw it on my bill.

I didn't know you could get fees like this when you're transacting in your card's native currency! Another win for the truly international Bitcoin.

finkleshnorts

sr. member

Activity: 336

Merit: 250

I bought 2 BTC from Virwox back when they were trading at 4.70. I paid 12 dollars total and felt ripped off. It turned out to be better than waiting a month for Dwolla verification. I'd recommend it to anyone in a pinch.

mobile4ever

hero member

Activity: 546

Merit: 500

This page:

https://www.virwox.com/faq.php#_manual

Says:

Quote

Withdrawals to bank accounts are usually processed on the morning of the next business day. While most withdrawals to PayPal, NETELLER, Moneybookers, and Bitcoin accounts are processed instantly, we manually check some of them for security reasons (for example of new accounts). They will be processed within 48 hours. In any case, you will receive an email confirmation when the withdrawal has been processed.

Zack

newbie

Activity: 14

Merit: 0

Fees seem pretty steep with them...

mobile4ever

hero member

Activity: 546

Merit: 500

Quote from: scintill on September 16, 2012, 08:44:05 PM

2 days. Edit: From ryanAC's post, it sounds like it may be quicker if they trust your account somewhat.

Okay, thanks... if it works, it beats waiting around here for people to stop watching the rate go up on BTC before they decide to respond.

scintill

sr. member

Activity: 448

Merit: 254

Quote from: mobile4ever on September 16, 2012, 08:37:52 PM

Quote from: scintill on September 14, 2012, 08:24:51 PM

Today I tried Virwox with a credit card, mostly for curiosity. After fees and commissions, I've picked up a few bitcoins at ~$17 ea. (maybe could have done better if I put limit orders instead of just using the market rates). But I'm waiting for some "manual step" on their side for them to allow the withdraw of BTC (I just created the account today.)

P.S. Not being able to buy fractions of bitcoins was annoying. I ended up with some SLL I didn't need, so I put in an order to buy 1 BTC with the leftover (quite a bit below market), maybe I'll get it someday.

Edit 9/16/2012 5pm: my withdraw went through! Kinda long, but not bad considering the risk they're taking.

So it took around a day to get it done, then?

2 days. Edit: From ryanAC's post, it sounds like it may be quicker if they trust your account somewhat.

mobile4ever

hero member

Activity: 546

Merit: 500

Quote from: scintill on September 14, 2012, 08:24:51 PM

Today I tried Virwox with a credit card, mostly for curiosity. After fees and commissions, I've picked up a few bitcoins at ~$17 ea. (maybe could have done better if I put limit orders instead of just using the market rates). But I'm waiting for some "manual step" on their side for them to allow the withdraw of BTC (I just created the account today.)

P.S. Not being able to buy fractions of bitcoins was annoying. I ended up with some SLL I didn't need, so I put in an order to buy 1 BTC with the leftover (quite a bit below market), maybe I'll get it someday.

Edit 9/16/2012 5pm: my withdraw went through! Kinda long, but not bad considering the risk they're taking.

So it took around a day to get it done, then?

scintill

sr. member

Activity: 448

Merit: 254

Today I tried Virwox with a credit card, mostly for curiosity. After fees and commissions, I've picked up a few bitcoins at ~$17 ea. (maybe could have done better if I put limit orders instead of just using the market rates). But I'm waiting for some "manual step" on their side for them to allow the withdraw of BTC (I just created the account today.)

P.S. Not being able to buy fractions of bitcoins was annoying. I ended up with some SLL I didn't need, so I put in an order to buy 1 BTC with the leftover (quite a bit below market), maybe I'll get it someday.

Edit 9/16/2012 5pm: my withdraw went through! Kinda long, but not bad considering the risk they're taking.

ryanAC

member

Activity: 111

Merit: 10

Quote from: Stephen Gornick on September 14, 2012, 07:06:02 PM

There had been reports that the withdraw isn't instant like that. Perhaps it varies based on factors such as payment method or customer status (e.g., new account). But yours could be withdrawn instantly?

Yes, I recall that it took a day to complete when I tried it 6 months ago. I also think I got an email from someone mentioning that they had to process the btc withdrawl manually. Perhaps having a seasoned account puts things into auto mode...

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: ryanAC on September 14, 2012, 05:15:17 PM

Just felt like trying this out... and took about 2 minutes to transact (but costs quite a bit - about 6% plus $2 i think).
Login to virwox. Buy SLL with PayPal. Then buy BTC with SLL. Then withdraw BTC.

There had been reports that the withdraw isn't instant like that. Perhaps it varies based on factors such as payment method or customer status (e.g., new account). But yours could be withdrawn instantly?

ryanAC

member

Activity: 111

Merit: 10

Just felt like trying this out... and took about 2 minutes to transact (but costs quite a bit - about 6% plus $2 i think).
Login to virwox. Buy SLL with PayPal. Then buy BTC with SLL. Then withdraw BTC.

Any reason why anyone would do this, other than the curious like myself?

-Ryan

Topic: Quick BTC from Paypal via Virwox... (Read 7650 times)