Connecting USB devices to VirtualBox using USB 3.0 ports

This took me quite a bit of time to figure out, hopefully someone finds the steps useful. Many of the wireless cards that support monitor mode are all USB 2.0 devices - e.g. Alfa AWUS036NHA, TP-LINK TL-WN722N and run into problems while connecting to newer laptops that come with only USB 3.0 ports. If you try to connect the wireless card to the USB 3.0 port and then try to attach it to VirtualBox VMs like Kali, it will not work straightaway.