Success With​ RYAN THOMAS

Why exchange with VirWoX?

Best Rates

Regardless of whether you want to buy or sell Linden dollars for real-world currencies: Having others compete for your business will give you the best rate available at current market conditions, as determined by supply and demand. At VirWoX, you do not buy from us or sell to us or any other single source. Rather, we match orders from thousands of buyers and sellers. You can accept the current best offer, or even specify you own rate! See "How to Exchange" for more information on how this works.

Automatic Exchange at Low Commissions

Our fully automatic exchange helps to reduce human interventions to a minimum. This enables us to keep our (and your) costs low. And the more you exchange, the less you pay (see Commissions and Discounts).

Designed for International customers

VirWoX is the "Virtual World Exchange"; an alternative to the LindeX exchange for International customers. What makes it attractive for International customers?

 

 

• Currencies: Having to convert your local currency to US$ before converting to Linden dollars means additional cost to you. With VirWoX, you can eliminate this cost by directly trading the Euro (EUR), British Pound (GBP), and Swiss Francs (CHF) against the Linden dollar (SLL). Other currencies will follow based on demand.

• Languages: Our Web site and our in-world Terminals speak your language. Currently we offer English, German, French, Spanish, and Italian.

• Deposit and Withdrawal methods: Credit Cards and PayPal are available worldwide, fast and convenient. Unfortunately, they are also expensive and subject to fraud, which forces us to define limits. As an alternative commonly used throughout Europe, we offer direct bank transfers, cheap and without limits.

• Local Support: Located in the heart of Europe (Austria), our business hours are the same as yours.

Insurance against Currency Fluctuations

In the last 2 years, the Linden dollar has been tied to the US dollar. This is good if your "home currency" is the US dollar. But if you think in Euros, for example, the value of the Linden dollar (and therefore any investment you have in Linden dollar) has dropped by 25% in the same time period, together with the US dollar. By regularly changing your Linden dollars to Euros on VirWoX, you can eliminate this currency risk. You may even be able to take advantage of currency fluctuations of major European currencies against the Linden dollar by active trading.

Security

The Second Life virtual world can sometimes be a dangerous and fraudulent environment. VirWoX has been designed and implemented from the ground as a secure environment that deserves your trust. See "Security and Privacy" for detailed information on this topic.

 

Getting Started:

 

It requires just 4 simple steps to get started with VirWoX:

 

1. Register using the Registration page.

2. Login within 24 hours, using the temporary password sent to you by email.

3. Change your password using the Change Settings page. Please choose a strong password.

4. Validate the connection to your Second Life / Avination account. You do this by logging in to the Second Life / Avination world, and touching a VirWoX Terminal. Only after you have completed this last step, you will receive the welcome bonus of our introductory offer.

 

You then have an active VirWoX account. Typically you will then want to deposit money in one currency, place exchange orders, and withdraw money in some other currency.

 

How to Exchange:

 

Speed vs. Rate

There are two main ways of using VirWoX:

• You want your order executed immediately: In this case, you would simply accept the current best available rate, and place a "market order".

• You are willing to wait for an even better rate: In this case, you place a "limit order" and specify your desired rate. Of course, your order will only get executed if and when somebody is willing to accept your offer.

How does it work?

Say, you have 100 Euros in your VirWoX account and want to get Linden dollars for it. You check the current market and see that the rate is near 400 (Linden dollars per Euro). So you decide you want to sell your Euros for not less than 400 Linden dollars per Euro. Commissions aside, this would give you 40,000 Linden dollars if executed.

You go to the Exchange EUR/SLL page (EUR is the currency symbol for Euros, SLL for "Second Life Lindens") and enter an order to sell 100 EUR at a rate of 400 SLL per EUR. Of course, you can also do the opposite and buy Euros (=selling Linden dollars) by entering a "buy" order.

Once you have entered you order, it will be processed by our fully automatic order matching system. If and when there is an opposite order for the same rate, your order may get matched with it. Note that your order may be matched with more than one other order, i.e. there can also be partial executions. Until the order is fully executed, you have the option of cancelling (the remaining part of) it.

After you have exchanged your money to some other currency, you can request a withdrawal of that currency using the 'Withdraw' page. In case of a withdrawal of SLL to your SL acccount, this will be completed in a few seconds. Withdrawals to PayPal, Skrill, NETELLER, or bank account sometimes require a manual intervention and therefore may take a bit longer in this case.

 

Accounts:

 

Before you can place any orders, you will have to open an account, and fund it with the currency you want to exchange.

Welcome Bonus Gift Vouchers

Here is our special introductory offer: If you manage to be among the first 60,000 registered VirWoX customers, we will give you 8 "Welcome Bonus Gift Vouchers" worth 800 Linden dollars (SLL) in total (100 each: 50 for the giver and 50 for the receiver of the gift). The idea is that you can give these vouchers as a present to your SL friends. Whenever one of them registers, both you and your friend will receive 50 SLL each. This means that if all of your gift vouchers are used for registering a new account, you get 400 SLL (unless of course you yourself used a gift voucher upon registration, in which case you can get up to 450 SLL)!

The gift vouchers are uniquely identified by an 8-character code (in fact, the code is the gift voucher). You can pass this code on to your friend by any method you prefer. The code identifies the original owner of the voucher (i.e. you) for credit of the 50 SLL. This means that if your friend could not use the code (e.g. because your friend already is a VirWoX customer) and passed to code on to another friend, you will still get the credit for it.

You can check the status of your gift vouchers from the Account Overview page.

The following rules and conditions apply:

• One gift voucher code can of course only be redeemed once, and only be entered during registration on the VirWoX registration form.

• The 50 SLL each will be credited after the registration is completed, i.e. after the account has been activated (by logging in with the password supplied to that your address), and the link to an existing Second Life avatar has been validated.

• The Second Life avatar linked to the new account has to be "born" before the 1st of January, 2012 in order to receive the welcome bonus and the new gift vouchers.

• The gift vouchers expire at the end of the 5th day after they have been issued.

Levels and Limits

Depending on your "account level", certain limits to deposits using PayPal and Skrill exist. The account level is determined by the number of days since your first successful deposit using PayPal or Skrill, according to the following table:

 

Limits in EUR		Level 0	Level 1	Level 2	Level 3	Level 4
		immediately	after 10 days	after 60 days	after 90 days	on request
PayPal/SkrillDeposits	per 24 hours	60	100	200	300	8,000
	per 30 days	180	500	2,000	3,000	80,000

The amounts in the table are in EUR. For limits in other currencies multiply these numbers by 1.3 (for USD), 1.2 (for CHF), and 0.9 (for GBP). The Account Overview page shows your current account level and limits. The current 24-hour and 30-day limits are computed on a rolling basis based on your previous transactions, and are shown on the Transaction History.

Currently, no limits exist for withdrawals. However, SLL deposits are checked using Linden Lab's RISK API, and may be declined for that reason.

 

 

Security and Privacy:

 

At VirWoX, we take security and privacy seriously. The service is designed, developed, and operated by Virtual World Services GmbH, a real-world company founded in Austria specifically for the purpose of conducting business in virtual worlds and running services like VirWoX. You can find contact details here.

While it is part of our security policy not to reveal too many details about it, we would like to share some important aspects with you. Please also consult the section on Terminals for additional security information related to our terminals.

Protection of Passwords

The single most important thing you need to remember is to choose a strong password and keep it secure. Good passwords are:

• At least 8 characters long

• A combination of characters (uppercase and lowercase) and numbers that is hard to guess.

• Different from other passwords. In particular, you should not use your SL password for VirWoX also. This ensures that even if someone is able to steal you SL account, they cannot access your VirWoX money.

• Not written down. Should you forget your password, you can have it reset and a new password sent to your email address. It is therefore important that you use your real email address and keep it current. Note that we also do not store your password in clear text, so we cannot tell you what it is either.

Privacy

We need some personal information (such as your Name) in order to transfer real-world money to bank accounts. Also, we receive similar personal information when you transfer money using PayPal, Skrill, or NETELLER (no bank account or credit card numbers). We will take all reasonable efforts to keep this personal information safe, and will not sell or give such information to third parties, except if requested by public authorities. This does not apply to anonymous data for statistical purposes. We do not store any credit card information.

 

 

Terminals:

 

We operate a network of terminals in the Second Life virtual world. The Terminal Locations page contains an up-to-date list of them. You need them for two purposes: validation of your account and depositing Linden dollars (SLL) into your VirWoX account.

Validation

When you validate your account, you create a permanent link between your SL avatar and your VirWoX account. This is necessary for an effective and secure transfer of Linden dollars between your Second Life account and your VirWoX account. The process is fairly simple: After you have entered your SL first and last name on the VirWoX registration form, and after you have logged in to VirWoX for the first time using the temporary password sent to you by email, log in to the Second Life world, go to a VirWoX Terminal and simply touch it. If the terminal is a genuine VirWoX terminal, it will pop up a dialog telling you the VirWoX username you have chosen in VirWoX for this avatar. Once you confirm this is indeed your username, the link is made, and you are all set.

Important: If the terminal is not able to tell the correct username, it is probably not a real VirWoX terminal and you should not proceed!

 

How do you find a terminal?

On the Terminal Locations page, we maintain a list of currently available VirWoX terminals.

How can you tell it is a real VirWoX Terminal?

Have you ever wondered, why in the real world you have to prove your identity to an ATM (using your PIN), but the ATM never proves to you that it's a real ATM? In the Second Life world, this problem is even bigger because it is easy to build something that looks like a VirWoX terminal. Consequently, our terminals prove to you that they are real VirWoX terminals by greeting you with your VirWoX username plus your personal, secret TIN (Terminal Identification Number), that you can choose freely (and change it as often as you like) on the Settings page. Therefore, before you select "Pay" to pay something that looks like a VirWoX terminal, always touch it and check your username and TIN!

 

 

Fees:

 

Exchange Commissions and Discounts

 

Market Order:

A small commission will be charged for the service of matching and executing your order against others. The commmission for market orders consists of a fixed fee plus a variable percentage, according to the following table:

Currency	Fixed	Variable
EUR/SLL	50 SLL	2.90%
USD/SLL	50 SLL	2.90%
GBP/SLL	50 SLL	2.90%
CHF/SLL	50 SLL	2.90%
EUR/ACD	50 ACD	3.90%
USD/ACD	50 ACD	3.90%
SLL/ACD	25 ACD	3.90%
SLL/OMC	25 OMC	1.90%
EUR/OMC	50 OMC	2.90%
USD/OMC	50 OMC	1.90%
BTC/SLL	50 SLL	2.90%

No discounts are applied for market orders, but the commission paid counts towards discounts for limit orders (see below).

Limit Order:

The commission will only be charged if your order is actually executed. If executed partially, commission will only by paid on the part that has been executed. The base commission rate for all currently exchanged currencies is 3.9%. However, the more you exchange, the less you pay: The effective commission rate is determined by the base commission rate and your current discount on commission. The discount in turn is based on your trading activity (more precisely, the amount of SLL commission already paid) in the previous 30 days, according to the following table:

Commission paid(last 30 days)	Discount	EffectiveCommission
0 SLL	0%	3.90%
1,000 SLL	10%	3.51%
2,000 SLL	20%	3.12%
5,000 SLL	30%	2.73%
10,000 SLL	40%	2.34%
20,000 SLL	50%	1.95%
50,000 SLL	60%	1.56%
100,000 SLL	70%	1.17%
200,000 SLL	80%	0.78%

Please note that the discount rate applied to a specific order is the one that was in effect at the time when you have entered the order. If your discount rate changes after that time to your favour, you may of course cancel the order and re-enter it to take advantage of the higher discount level. Your current commission paid in the last 30 days and discount levels are displayed on the Account Overview page.

Deposits

• PayPal: Unfortunately, PayPal charges us fees for its services, which are deducted from your deposit. Also, the fee varies with currency, location of customer, payment method used, transaction size, and the size of our previous transactions with PayPal; so the exact fee is only known to us after the transaction has taken place. As an example, the current fee for deposits in Euro for customers with their PayPal account kept in Euro is 0.35 Euro plus 3.4% of the transaction.

• Credit/Debit Cards, Skrill (Moneybookers): Similar to PayPal, Skrill charges us fees for its services, which are deducted from your deposit. The current fee for deposits in Euro for customers with their Skrill account kept in Euro is 0.39 Euro plus 3.5% of the transaction.

• paysafecard: There are over 350,000 sales outlets where you can buy the paysafecard. For this service, paysafecard charges us a fee of 20%, which will be deducted from your deposit.

• Ukash: For this service, Ukash charges us a fee of 15%, which will be deducted from your deposit.

• NETELLER: For its service, NETELLER charges us a fee of 0.29 EUR/USD/GBP + 5.9% of the transaction value, which will be deducted from your deposit.

• DIRECTebanking: For this service, Payment Network AG charges us a fee of 2.5% of the transaction value, with a minimum of 0.25 Euro (if the transaction value is below 10 Euros), which will be deducted from your deposit.

• Other Deposits: Other deposits (i.e. deposits of SLL from SL or via bank transfer) are free.

Withdrawals

SLL withdrawals to your Second Life account and ACD withdrawals to your Avination account are free of charge.

A handling fee of 0.01 BTC per bitcoin withdrawal will be charged.

A handling fee of 1 EUR (1 USD, 1 CHF, 1 GBP) + 2% PayPal Fee per PayPal withdrawal will be charged.

A handling fee of 1 EUR (1 USD, 1 CHF, 1 GBP) per withdrawal will be charged for all other types of withdrawals (Skrill, NETELLER, Bank Transfers).

Send Money to other user

Sending virtual currency (SLL, ACD, or OMC) is free of charge. For payments in real currency, the recipient pays a fee of 4%.

Inactivity Fee

There is no fee just for maintaning your VirWoX account. However, if you have not used your VirWoX account for more than 12 months, we will charge an inactivity fee of 2 EUR (or the equivalent in other currency) per month, but only if there is a positive balance on the account.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Disclaimer: I take no credit for the above information as all of this information was given by VirWoX.