Last updated on March 17th, 2015 at 05:37 pm
This article will show you how to instantly sell you Litecoins with Paypal and convert them to USD or EUR.
Note: If you’re looking to buy Litecoin with Paypal or a credit card for trading purposes only check out Plus500’s Litecoin CFD Trading.
The process explained here is the opposite of the article how to buy Litecoins with Paypal.
Important: This process holds within it more transaction fees than usual. It’s suitable mostly to people who want to cash out quickly and are willing to pay additional fees for it. If you have the time and patience I suggest using the normal bank transfer methods of your selected exchange.
Today there is a major problem with transferring and converting Bitcoins, Litecoins or any other crypto currency for that matter into your Paypal account. In the case of Litecoin it’s even harder because there is no LTC/USD or LTC/EUR exchange. So we will need to first exchange our Litecoins to Bitcoins, and then sell our Bitcoins through Paypal.
First you will need to create a VirWox account
VirWox (the Virtual World Exchange) is a website that allows to exchange mainly in SLL (Second Life Lindens), but also in Bitcoin (BTC). Click on the “not registered yet” link on the top left and fill out your personal details. Where it asks you for “Avatar name” you can just leave it at “no avatar”. The main things you need to fill out is a username and an email address.
Activate your account and change your password
Once you’ve registered you will be sent an email with your password. Log into VirWox and I strongly suggest you change your password (since you will be transferring money through this site).
Obtain a Bitcoin address at VirWox
Now you will need a Bitcoin address. Go to “Deposit” and scroll down to the “Bitcoin” section. Copy that Bitcoin address for later on.
Exchange your Litcoins into Bitcoins
Use whichever exchange your Litecoins are at (BTC-E, Vircurex) and exchange your Litecoins to Bitcoins
Move your Bitcoins into VirWox
Withdraw your newly purchased Bitcoins into the VirWox Bitcoin address you created.
Exchange you Bitcoins into SLL
You will now need to exchange your Bitcoins to SLL, this is done through the BTC/SLL exhcange
Exchange your SLL to USD or EUR
Now go to which ever exchange you desire and exchange your SLL into EUR or USD.
Withdraw your Dollars or Euros
You can now withdraw your funds into your Paypal account. Just go to “Withdraw” and use the “Withdraw to Paypal” option.