Skrill is a digital wallet that allows you to buy, sell, and hold cryptocurrencies directly within your Skrill account. Skrill currently supports several popular fiat and cryptocurrencies, including bitcoin, GBP, and euro.
Is Skrill Good for Cryptocurrency?
Skrill’s cryptocurrency service offers several benefits for you. One key advantage is the ability to buy and sell cryptocurrencies using your Skrill account balance. This eliminates the need for additional exchanges or platforms to engage in crypto transactions. Additionally, Skrill offers the option to set up price alerts, ensuring that you stay informed about crypto exchange rates and can make timely decisions. With the ability to schedule conditional and recurring crypto orders, you can take advantage of favorable market conditions and grow your crypto portfolio regularly.
How to Start With Skrill Crypto
To begin using Skrill Crypto, you need to have a Skrill account. If you don’t have one, you can easily sign up for free on the Skrill website or mobile app. Once registered, you can navigate to the “Crypto” section within your Skrill account and proceed to complete the verification process, which will involve providing some personal information and completing identity verification procedures.
Skrill’s cryptocurrency service is currently available in select countries. If you can access the “Crypto” section in your Skrill account, it means that your country is supported, allowing you to participate in cryptocurrency transactions.
Skrill has made the decision to discontinue cryptocurrency trading services in the USA. As a result, the option to purchase cryptocurrency has been disabled. If you currently hold any cryptocurrency balance with Skrill USA, it is advised to sell it prior to midnight (EST) on July 26th, 2023.
How to Buy Crypto With Skrill
Skrill facilitates instant buying and selling of cryptocurrencies using your primary account balance in fiat currency (EUR, USD, etc.). You have the flexibility to set up price alerts, which will send you email and push notifications when a specific crypto exchange rate is reached. This feature ensures you stay informed about price movements and can make timely decisions.
You can buy bitcoin with Skrill using its recurring bitcoin buy feature (dollar cost averaging strategy with bitcoin). Skrill offers the functionality to schedule conditional and recurring crypto orders. These orders are automatically executed offline when a desired crypto exchange rate is met or as per your chosen recurring schedule. You also have the option to withdraw funds from your available fiat balance, such as EUR and USD, to an external crypto wallet.
How to Send Crypto from Skrill
There are two ways to send bitcoin from Skrill:
- Transfer section: Go to the Transfer section, select “Skrill to Skrill,” enter the recipient’s email, choose your crypto balance, and specify the amount.
- Crypto section: In the Crypto section, select your crypto balance, click Send, enter the recipient’s email, choose your crypto balance, and specify the amount.
If the recipient doesn’t have a Skrill account, they will receive an email invitation to sign up and claim the transfer. If the recipient with a non-registered email does not accept the transaction within 14 days, it will be automatically canceled.
Skrill currently does not support deposits from external crypto wallets, crypto withdrawals to external crypto wallets, or online payments using crypto balances in your Skrill account.
Skrill Crypto Fees
Skrill crypto charges fees for cryptocurrency transactions. Here is the table summarizing the fees for various crypto transactions with Skrill:
| Transaction | Fee |
|---|---|
| Buy crypto | 3.49% |
| Sell crypto | 3.99% |
| Trade crypto | 1.5% |
| Currency exchange | 4.49% |
| Withdrawal | Varies |
Skrill Crypto Review
If you’re looking for alternatives to Skrill specifically for cryptocurrency-related services, here are a few options:
Skrill Cryptocurrency Review
Skrill provides a convenient option for to buy, sell, and store cryptocurrency. While it is generally considered a safe platform, it’s important to note that Skrill crypto wallet is custodial, which means you don’t have direct control over your private keys. Furthermore, be aware of the fees associated with buying, selling, trading, and withdrawing crypto on Skrill. As with any financial service, it’s advisable to thoroughly research and compare Skrill with alternative platforms to ensure it aligns with your specific needs, security requirements, and is supported in your location.
Is Skrill good for cryptocurrency?
Skrill is a good option for cryptocurrency transactions. It enables you to buy, sell, and hold cryptocurrencies using your Skrill account balance.
How to withdraw crypto from Skrill
You can convert your fiat balance to crypto and send directly to a cryptocurrency wallet. You can also withdraw your crypto balance by selling it for fiat via Skrill crypto trade page. Furthermore, you are allowed to convert your crypto back into euros, dollars, and other fiat currencies.
How to sell crypto on Skrill
To sell cryptocurrency on Skrill, log in to your account, go to the cryptocurrency section, select the cryptocurrency to sell, enter the amount, review the details, and confirm the sale.
Is Skrill safe for cryptocurrency?
Skrill is widely regarded as a secure platform for cryptocurrency transactions. It uses security measures like two-factor authentication, encryption, and cold storage to safeguard your funds. However, the Skrill cryptocurrency service is not regulated by the Financial Conduct Authority.
Is Skrill a crypto wallet?
Skrill does offer a cryptocurrency wallet. You can store, buy, sell, and exchange various cryptocurrencies within Skrill wallet. However, it's important to note that when using Skrill crypto wallet, you don't have direct control over your funds.
How to transfer crypto from Skrill to Coinbase
You can send money from your available Skrill fiat balance to your crypto Coinbase wallet. Log in to your Skrill account, choose the crypto you would like to withdraw to, your fiat balance you wish to withdraw from, and provide your Coinbase wallet address and confirm the transaction.
What are Skrill Crypto supported countries?
Skrill allows its users to buy, sell, and withdraw cryptocurrencies in over 40 countries. Note that Skrill has discontinued cryptocurrency trading services in the USA.
Is Skrill a crypto exchange?
Skrill is not a cryptocurrency exchange. It is a payment processor that allows users to buy, sell, and withdraw cryptocurrencies via its partnership with cryptocurrency exchanges. Skrill routes your crypto order to a partner exchange for execution, which delivers the cryptocurrency to your Skrill account.