PayPal/Skrill Transaction Limits
The Open Metaverse Currency (OMC) is a virtual currency. Its currency unit is the Open Metaverse Cent (OM¢). It is used to buy or sell virtual goods or services in virtual environments (worlds).
Unlike other virtual currencies it is accepted in a number of such worlds, not just one. Specifically, it is compatible with the OpenSim HyperGrid. This means you can go shopping with your avatar in any of the OMC-enabled grids, and pay in a single virtual currency from a single account. And if you run a business in one of those grids, you can receive OMC from users all around the hypergrid.
Payments made in OMC are free of charge for both the sender and the recipient.
Your virtual money is not really transferred between the OpenSim servers (which should not be considered a safe environment). Instead, it is kept securely in your VirWoX account, and every payment made in the virtual environment has to be authorized on our secure website with your username and password. Please be careful to choose a strong password and make sure that you enter it only on the VirWoX website!
The website also offers detailed reporting of payments sent and received. If you use multiple identities (avatars), you will need separate VirWoX accounts for them, but it is easy (and free) tosend OMC from one account to another.
Exchange to other currencies
OMC can be bought or sold for real-world currencies such as EUR and USD. It is also possible to directly exchange Second Life Lindens (SLL) for OMC and vice versa.
How to Exchange:
In order to buy OM¢ for real-world money (EUR, USD), please follow these steps:
- Deposit the real-world money from a credit card, PayPal, paysafecard, Skrill, or SOFORTbanking on the Deposit page.
- Place an order to SELL the real-world currency for your OM¢ at the corresponding “Exchange” page (e.g. Exchange USD/OMC for USD,Exchange EUR/OMC for EUR). See also “How to Exchange” for more information on how the exchange works.
What is the difference between market orders and limit orders?
Market orders are easier to use for beginners, as they are immediately filled and automatically give you the best exchange rate that is available at the moment. In contrast, limit orders give you full control over the exchange rate, but it can take some time until they are fully matched.
With limit orders, you will never get an exchange rate that is worse than what you specified. Because of this, it may sometimes take some time until an order is fully matched with counter-offers. In this case, you will get a message indicating that your offer has been partially filled.
You may either wait until the order is fully matched, or cancel the remainder of the order (by clicking on the symbol on the Order Status page), and place a new order at a different price.
For an indication of how many counter offers exist at a given exchange rate, you can look at the “Current Market Depth” displayed on the Exchange page when placing an order.
Withdrawals to bank accounts are usually processed on the morning of the next business day. While most withdrawals to PayPal, Skrill, and Bitcoin accounts are processed instantly, we manually check some of them for security reasons (for example of new accounts). They will be processed within 48 hours. In any case, you will receive an email confirmation when the withdrawal has been processed. Note: For security reasons, the first withdrawal of bitcoins will always be delayed by 48 hours.
The error message “A technical problem has occurred and your payment could not be processed.” is the result of a very general error code we receive from PayPal. The reason may be that something is wrong with the card you used for payment.
Using Mass Payments you can reduce PayPal fees, in particular for large transfers: You pay at most 1 USD to PayPal, instead of the usual 3.4%. However, Mass Payments can be made only from Business and Premier PayPal accounts, not from Personal accounts. Also, you can only pay from an existing balance on your PayPal account (not from credit or debit card), and the procedure is somewhat more complicated than the standard payment through our website:
To send a Mass Payment, log into your PayPal account, then click the “Mass Pay” link at the bottom of any page, and then click “Make a Mass Payment!” link at the left. Create a text file on your computer with the contents:
email@example.com 100.00 USD
The spaces between the items are tabs. Of course, you can specify other amounts and currencies (EUR, CHF, GBP). Save the file, then choose it for the file attachment on the Mass Payment page. Select “Email Address” as the Recipient Type, enter your VirWoX username in the “Email Subject” field, and your SL avatar name in the “Message to recipient” field. This will enable us to credit the payment to your VirWoX account.
Within the EU, we can send payments in Euro without banking fees.
For other currencies, and to non-EU countries, our bank charges us fees that we have to deduct from your withdrawal. These fees are 15 Euro for transfers up to 5.000 Euro, above that the fee is 30 Euro up to 10.000 Euro transfer amount. Transfers in USD cost 25 EUR (about 30 USD). It therefore only makes sense to transfer large amounts by bank. For small amounts, it may be cheaper to transfer to PayPal or Skrill, followed then a local bank transfer from there.