How to Exchange
Speed vs. Rate
How does it work?
Levels and Limits
Security and Privacy
Protection of Passwords
How do you find a terminal?
How can you tell it is a real VirWoX Terminal?
Exchange Commissions and Discounts
Send virtual currency to other user
It requires just 3 simple steps to get started with VirWoX:
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.
Before you can place any orders, you will have to
open an account, and fund it with the currency you
want to exchange.
There are two main ways of using VirWoX:
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, or bank account sometimes require a manual intervention and therefore may take a bit longer in this case.
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:
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.
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.
The single most important thing you need to remember
is to choose a strong password and keep it secure. Good passwords are:
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 or Skrill (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
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
validation of your account.
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!
On the Terminal Locations page, we maintain a list of
currently available VirWoX terminals.
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!
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:
No discounts are applied for market orders, but the commission paid counts towards discounts for limit orders (see below).
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:
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
A handling fee of 0.003 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, Bank Transfers).
Sending virtual currency (SLL, ACD, or OMC) is free of charge.
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.