Few days back we had covered guide on how to setup virtual wifi on windows 7 using built-in windows 7 capabilities. If are finding it difficult to follow our guide then here is open source freeware tool Virtual Router which turns any Windows 7 or Windows 2008 R2 Computer into a Wifi Hot Spot using Windows 7′s Wireless Hosted Network (Virtual Wifi) technology.
The Wireless Network create/shared with Virtual Router uses WPA2 Encryption, and there is not way to turn off that encryption. This is actually a feature of the Wireless Hosted Network API’s built into Windows 7 and 2008 R2 to ensure the best security possible.
You can give your “virtual” wireless network any name you want, and also set the password to anything. Just make sure the password is at least 8 characters.