How To Use Skrill To Buy And Sell Cryptocurrencies

How To Use Skrill To Buy And Sell Cryptocurrencies

Founded in 2001, Skrill is a provider of digital wallets that provides a variety of online payment, money transfer, and cryptocurrency exchange services.

Since its debut, Skrill has grown to operate in over 120 nations and offers its digital wallet in 40 different currencies. Customers have a variety of payment options for adding money to their Skrill wallets, including credit or debit cards, bank transfers, and several alternative payment options.

The money can then be transferred into cryptocurrency, which offers over 40 different types of cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, and Solana, or used to pay vendors or other Skrill users.

Skrill’s remittance service, Skrill Money Transfer, also provides cross-border payments. Customers can use their bank cards to send money using this service to an international bank account. In 2015, the Paysafe Group acquired Skrill, former rival Neteller and prepaid payment service Paysafecard.

On March 25, 2021, Paysafe the parent company of Skrill announced that it’s Skrill digital wallet has expanded its cryptocurrency offering to the U.S. in partnership with Coinbase, the digital cryptocurrency platform provider.

The deal sees Coinbase provide a new cryptocurrency white label solution to Skrill, continuing the digital wallet’s U.S. expansion by enabling customers across 37 states and territories to easily buy and sell multiple cryptocurrencies.

How can I get started using Skrill’s Cryptocurrency Platform?

To make cryptocurrency purchases, Skrill customers can use the money they already have in their local fiat currency (EUR, USD, etc.). With this, they can keep an eye on multiple cryptocurrencies simultaneously.

1. Deposit money to your Skrill account

You must first fund your account because you can only purchase cryptocurrency using the funds in your Skrill wallet.

When adding money to buy cryptocurrency, numerous payment options are available, including card, bank transfer, and various alternative payment methods.

2. Go to the crypto tab

Go to the dashboard on your home screen and choose Crypto from the left-side menu.
Here, we’ll ask you to agree to our terms of use and the risks they entail.

3. Select a cryptocurrency you would like to buy

Select the cryptocurrency you are interested in by clicking the Trade button under the “Market data” tab.

4. Enter how much you want to spend

You can view a real-time exchange rate on Skrill.
Skrill will calculate the amount you receive based on this rate when you enter the amount you wish to spend.

5. Double-check and confirm your crypto payment

Verify the amount and the exchange rate once more. To finish the transaction, click “Confirm” if you are happy to move forward.

Is a different Skrill wallet required to purchase or sell cryptocurrency interests?

Your existing Skrill account can be used instead of setting up a new one. Please be aware that the service is not yet available in all the countries supported by Skrill.

What are the minimum and maximum amount of cryptocurrency I can buy or sell

In most cases, the minimum amount required for a transaction will be close to one dollar (USD). Your account’s transaction limits will dictate the maximum amount of cryptocurrency you can purchase.

How soon can I expect to see my cryptocurrency balance in my Skrill account?

Your cryptocurrency balance will be updated within one or two seconds of the transaction being confirmed, as it is immediately completed.

What are the fees for using Skrill’s cryptocurrency services?

 SkrillerTrue SkrillerSilver VIPGold / Diamond VIP
Crypto Buy/Sell Transactions up to €19.99€0.99€0.70€0.50€0.50
Crypto Buy/Sell Transactions between €20 – €99.99€1.99€1.70€1.50€1.50
Crypto Buy/Sell Transactions above €1001.90%1.70%1.40%1.30%
Crypto P2P0.50 % per transaction   
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