Lost $5280 due to stupid bitcoin fees. Read don't make same mistakes.

in bitcoin •  8 years ago 

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hi, i want you to tell about my own stupid mistake and that websites that ripe you off do exist.

First of all, i wanted to buy a few bitcoins make a profit when it rise back up and use the profit to invest into steemit.
O i did used my saving account to purchase 2 bitcoins. I decided to use virwox.com
paypal.jpg

For a reason i had to use paypal options since an account was not on my name. Virwox seemed high reputation website for such a purchase.I managed to create an account, after i press paypal and buy 2 bitcoins for a total $4800 dollars was price at the time.
I noticed paypal charged me for a $5280 instead went back to look again into the paypal option just to find out there is an unreal 10% on any transaction. I would understand 10% on $50...

Now i haven't received my bitcoins yet, contacted virwox.com spport and they claim it will take 48hrs for then to confirm my account. Im lost what to do.

Any ideas would be appreciated.thanks.

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For a second I thought you paid a fee of over $5k! Your best bet is to cancel the paypal transaction, and then open an account on an exchange that accepts USD, like Gemini. Good luck to you! Maybe you can make it back in STEEM if this post goes viral?

I agree. Create an account with Gemini and link your bank account with them. Never use Paypal for big money stuff lol. I got caught on the wrong side of the stick many times with sites like xcoins.io who use Paypal as form of payment.

Constantly support email....

If you absolutely must then use a credit card but pay back in your free allowance time (no fees), never Paypal, they are fee monsters on anything. They act like a bank but are not one, so bank laws don't apply to them. Pure evil.

Oh thanks guy never knew you can cancel paypal transactions. Going to try it out.

Sorry to hear that. Cancel if possible. If you want to buy fractions I recommend to buy via an exchange and to strore it cold afterwards.

Just cancel the transaction

Good luck!

I have made an order from them, they have transferred the bitcoins to my wallet after one day. The only downside is the fees you pay in the whole process.

Sorry to hear that, cancel the transaction.