The Virtual World Exchange, popularly known as VirWoX, has been on a lot of people’s lips recently partly due to their expansion antics and partly due to public curiosity.
To break it down for those in the dark, VirWoX is a site that facilitates the buying (and transfer) of Bitcoins and Linden Dollars, or as they are known in technical circles, Second Life Lindens (SLL). The site was opened in 2007 with the primary purpose of enabling online gamers to acquire virtual currency in exchange for ordinary money.
It was, however, not until 2011, when they integrated the world’s premier virtual currency Bitcoin into their system that VirWoX became a global sensation. Fast forward to 2017, VirWoX is the go-to site for people in need of SLL and Bitcoin, particularly those who use PayPal.
Read through as we tell you more about the site and also whether it is a scam or not.
The Virtual World Exchange is registered under the business name Virtual World Services GmbH and is headquartered in Vienna, Austria.
VirWoX.com is a rather popular site, especially in the US. According to Alexa.com, they also get significant traffic from the UK, Germany, France and Brazil.
Apart from Bitcoin and Linden Dollars, VirWoX also offers Open Metaverse Currency (OMC) and Avination. Notably, the site does not sell Bitcoins as a primary currency but rather exchanges it for SLL. Thus, if you have some USD or Euro in your PayPal, you will need to first buy SLL then exchange them for BTC. Pretty inconveniencing right, but it’s probably to keep off the scammers and con artists.
The VirWoX exchange offers service for the following currencies:
SLL – EUR/SLL, USD/SLL, GBP/SLL, CHF/SLL, BTC/SLL
ACD – EUR/ACD, USD/ACD, SLL/ACD,
OMC – SLL/OMC, EUR/OMC, USD/OMC
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Is VirWoX Legit?
Well, there are so many factors to consider when trying to figure out whether a site is legit or not. One of them is the amount of time they have been in existence. On that count, VirWoX has been around for a decade so… On the legal aspect, VirWoX is officially registered and regulated and actually has a physical office. Most of the scams we have seen do not have physical addresses or phone numbers and most definitely don’t give their locations. One more reason to believe that VirWoX is legit and actually works.
We tried out the VirWoX exchange service and it worked well for us and we did get our BTC. Nonetheless, we found it a bit expensive, which was not a surprise considering that the process involves buying and exchanging two different cryptocurrencies, with transaction fees being charged on every step.
In our background checks, we did find some complaints from users/clients and they mostly had to do with the high transaction charges and the site’s tendency to ban accounts at the slightest provocation. On the latter, we found out that holders of banned accounts were refunded their money (through PayPal) less transaction charges so that’s really not an issue.
Also, we somewhat understand that the site is constantly under high risk of being defrauded by people taking advantage of PayPal’s buyer protection policy and they have to charge higher fees to serve as premium. We cannot really begrudge them for that.
That said, the customer service can do with some improvements – it took us several emails to get attended to, which is not exactly ‘service’ at all.
VirWoX Review Conclusion
In our opinion, and from our own experience, VirWoX is a legit service that we would recommend to all. It’s however not something we would use if we had a cheaper and more convenient option.
If you believe that VirWoX is a scam or if you have any feedback to provide about them, please let us know by commenting below this review or sending us an email.
Read other Bitcoin and Crypto Currency Exchange Reviews.
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