When I started this blog, OKPay was the only option for purchasing Bitcoins with a card. But the process of getting an account approved by OKPay was painful, to say the least. Plus, it doesn’t work for US residents so it was out of the question for me.
So at the time, the only other options I had was to go to my bank and physically put the cash into a Bitcoin Wallet that I had to apply for. Sometimes the funds would take a day or two to clear, and by then the value of the bitcoin had the potential to change quite a bit.
So I’m Pleased to announce…..
Now, at a time when Bitcoin is the hottest thing under the sun to invest in, you can conveniently purchase them with your Visa, MasterCard, PayPal and many other options!
Here is the incredibly EASY process to buy Bitcoins using your Credit Card or Paypal account:
Step 1: Click here to open VirWoX in a new window from your web browser.
Step 2: In the ‘Customer Login’ box located near the top left of this page, look below the ‘Login’ button and click Not registered yet?
Step 3: Fill out your information and then click Register!
Step 4: Your password will be sent to your e-mail address. Check your e-mail to retrieve password and confirm your registration if applicable.
Step 5: Go back to VirWoX and log in (Customer Login area in top left).
Step 6: On the left side of your Account page, look to the ‘My Account’ section and that is where you will find the options of interest including ‘Deposit’ and ‘Withdraw’.
Step 7: Before you can purchase Bitcoins, you will need to deposit currency into your VirWoX account (USD, EUR, etc). For our purposes, click the Deposit option.
Step 8: Here is the screen that changes the way we buy and sell Bitcoins for the better! From here, you can generate your VirWoX Bitcoin address at the click of a button and when you scroll down, you will see several options available to you for funding your account. Enter the amount of funds you would like to add to your account. In my screenshot below, I can only deposit a maximum of $3 USD because I maxed out my 24 hour deposit limit (couldn’t help myself!)
Step 9: Now you have funds in your account, but you need to exchange these funds for Linden Dollars before you can trade for Bitcoins. Not to worry; this is incredibly simple and fast. I like to think of it as going to the arcade as a child and exchanging my $5 for 20 tokens which are worthless outside of the arcade itself. Linden dollars are essentially your tokens that can be exchanged for Bitcoins or any other currency on the site.
To exchange your funds for Linden Dollars, locate the ‘Exchange’ section on the left sidebar and depending on whether you funded your account with USD, EUR, or GBP, you will click the appropriate link (i.e. USD/SLL) if you deposited USD. SLL stands for Linden Dollars.
Step 10: In the next page, enter the amount of available funds that you would like to exchange for Linden Dollars and click Next. The Linden Dollars will appear immediately in your account under the ‘Account Balance’ section whenever you are logged in (at the top of left sidebar).
Step 11: Now you can finally purchase Bitcoins! Go back to the ‘Exchange’ section we used a moment ago in Step 9 but this time you are going to choose BTC/SLL (Bitcoins vs. Linden Dollars).
Step 12: There are a couple things you can do now. You can either buy Bitcoins instantly at the current Market Price or you can place a ‘Limit Order’ in which you specify the amount you are willing to pay for ‘X’ amount of Bitcoins and if the Market Price of Bitcoin ever drops to that value, VirWoX will automatically execute your order and your Bitcoins will appear in your Account balance as usual.
Congratulations! You are now able to purchase Bitcoins with your Debit card, Credit card, or PayPal while others continue to rush to their local bank branches to make a deposit while they are at the mercy of some account holder on the other end. Come on guys, that is like using a FAX machine to send a letter to your friend in 2013. We have all been waiting for this option and now it’s here. Click here to take advantage!
UPDATE 3/4/14: Some people have asked me if it is possible to purchase Litecoin with PayPal or Credit Card also. The method shown below will also allow you to obtain Litecoin. You would purchase the Bitcoins as usual with the method above and once you have them, transfer the Bitcoins to a Litecoin exchange.