One of the biggest obstacle people face when trying to get into the cryptocurrency space is the initial purchase Bitcoin.
Due to badly implemented regulations and fraudulent charge-back issue used by traditional financial services most exchange does not support PayPal, Credit Card and Debit Card transactions.
However there is ways around the issue, below we will share a 6 step guide on how to buy Dash with PayPal.
How to Buy Dash with PayPal – Summery
1. Visit Register with VirWoX
2. Deposit money to your Virwox account with Paypal
3. Buy SLL on the SLL/USD exchange
4. Buy Bitcoins with your newly purchased SLL on the SLL/BTC exchange
5. Withdraw your Bitcoins to your Bitcoin Wallet
6. Use ShapeShift to convert your Bitcoins to Dash
1. Visit Register with VirWoX
Visit VirWoX.com, click the link, “Not Registered Yet?” found in the top left corner. Enter the following credentials: email address, first name, last name, country, and desired language.
After the registration is completed, a temporary password will be sent to you by VirWox. Use the password to log into your account, then change the password in the “Change Settings” tab. If you forget to change your password your accounts gains the risk of being deleted.
You can Ignore the message saying “Your avatar connection has not been validated yet“. As you do not need to verify your avatar.
2. Deposit money to your Virwox account with Paypal
Click the “Deposit” link in the menu on the left side of the screen. Scroll down on the newly opened page and you’ll find the option for PayPal. Enter a desired amount to deposit and click the “Checkout with PayPal” button. VirWox will then re-directed you to your PayPal account, where you can login and complete the payment.
You can also choose checkout with American Express, Visa, Master Card, JCB or Diners. However, we recommend you to check out our guide on How to Buy Dash with Credit Card or Bank Transfer to get cheaper fees and better solutions while using traditional methods.
VirWoX also support a wide range of other payment processor like Paysafe Card, Money Bookers, Sofort banking, UKASH, Neteller and more.
Notice: Brand new VirVox accounts will have restrictions on how much you are able deposit.
3. Buy SLL on the SLL/USD exchange
Once your payment has been confirmed you will be re-directed back to the Virwox website. On homepage, click on the link that lists your currency’s trading pair with SLL (EUR/SLL, USD/SLL, GBP/SLL). For example, if you used PayPal to deposit USD to your VirVox account then click on USD/SLL. It will take you to a page that lets you trade your USD into Linden Dollars. The same goes for every currency deposited, find the same trading pair as the currency you transferred to your VirWox account.
Like on most exchanges there is two types of trades, market trade and limit trade. When trading at the “market price” you will trade your chosen currency for Linden Dollars at a price a buyer is willing to pay for it closest to the current market price.
If you want to specify a certain price that you are willing to pay, you will need to use a “limit trade“.
If you choose to use a limit trade, you must use the order book to your advantage. Place your trade limit closer to asking price of another buyer. This will increase the chances of someone else accepting your limit trade. Remember, this method can be time consuming as it will take longer until your price is met, however more profit is to be made.
4. Buy Bitcoins with your newly purchased SLL on the SLL/BTC exchange
Now that you have acquired the SLL, you can buy Bitcoin by using the same process as in previous step in the BTC/SLL trading pair to convert it into Bitcoin.
In the “BTC/SLL” section your bitcoin amount will default to the maximum you are able to purchase with your SLL balance. You can also change this to Limit Trade and set your own price.
5. Withdraw your Bitcoins to your Bitcoin Wallet
Now it’s time to transfer your Bitcoins from VirWox to your Bitcoin wallet.
In this example we will use a Bitcoin web wallet from Blockchain.info,
1. Create a wallet at blockchain.info/wallet/.
2. Enter your email credentials and choose a strong and unique password.
3. Click on Receive and copy the string of characters that looks similar to this: 1BJsAzr7UUARUm4BBEVrRYyTGEt1ggiGnm. That is your Bitcoin address that you’ll need for transferring bitcoins from VirWoX to your wallet.
When you completed these tasks, click “Done”.
Now it is time to move your bitcoins from the VirWox exchange to your blockchain.info wallet. By clicking the “Withdraw” button under the “My Accounts” tab you can do so by specifying the amount of bitcoins you would like to transfer. Then pasting your Bitcoin address that you generated at blockchain.info and click the “Withdraw” button.
You can follow the transaction on the Bitcoin blockchain by using the block explorer at blockchain.info. Simply add your address in the search bar to see sent and received transactions along with its confirmations.
Notice: For new VirWoX accounts, Bitcoin transfers can take up to 48 hours. You will get confirmation once your withdrawal has been processed. When you have received the Bitcoins, you can move to next step to convert your Bitcoins in to Dash.
6. Use ShapeShift to convert your Bitcoins to Dash
Get a Dash Wallet (if you don’t already have one)
When the transaction from VirWox to your blockchain wallet is completed it’s time to trade your BTC for DASH. We will use a tool called ShapeShift to do an instant trade at the current market price. Ofcourse you will need a Dash wallet to receive DASH, for a quick and setup we recommend you to use a 3rd party wallet provider. Both Exodus.io and Jaxx.io has a great reputation. These wallets are checked, tested and got positive reviews from the Dash community. You can also setup your own local Dash wallet on your PC, Mac or Linux.
Select Which Coins to Trade
Go to ShapeShift.io and select Dash as Receive and Bitcoin as Deposit by clicking on the currency logos as seen on the image on the right hand side, and then click “Continue”.
Add Your Addresses to Initiate the Trade
Shapeshift will now ask you for your Dash and Bitcoin addresses. The Bitcoin address is optional but highly recommended if the transaction would fail. Shapeshift will use your Bitcoin address to return your bitcoins in case of error. It is recommend you to generate an additional Bitcoin address for this purpose. You can do so in the same blockchain.info account that you generated your first address.
When you are ready, check and confirm the terms and click “Start Transaction”.
Finalize your ShapeShift Trade
In the next step it’s time to finalize your trade. A countdown timer is showing in the right hand corner applying that you got 10 minutes to do so. Information about miner fees (transaction fee) and amount of DASH to be received can also be find here. Send the specified amount of Bitcoin to the ShapeShift address displayed on the screen by following the next step.
Transfer the BTC from your Bitcoin Wallet To Shapeshift
Once again go to blockchain.info/wallet and locate the “Send” buttonin the top left corner. Paste the Bitcoin address given to you by ShapeShift into the “Recipient” box. Specify the amount of and then click the “Send Funds” button. As soon as you clicked the “Confirm” button your Bitcoin transaction to Shapeshift is complete.
As soon as your payment is confirmed on the Bitcoin blockchain, Shapeshift will send you the DASH to your Exodus wallet.
