Skrill Payment System Allows Users to Exchange Cryptocurrencies Directly

Judy Rubio

Skrill payment system has fans around the world. The company is actively developing and offers customers ever new opportunities. One of them was the direct exchange of cryptographic currencies.

Cryptocurrency exchange in Skrill

In the past, the exchange of some digital assets for others was accompanied by the need to conduct several operations. To do this, intermediate national currencies were involved, as a result, users had to go to high transaction costs. Now all the assets that are available on the service can be exchanged with each other. This applies to Bitcoin, Ethereum, Bitcoin Cash and Litecoin.

In the summer 2018, Skrill implemented the functions of acquiring and selling cryptographic assets through over four dozen fiat currencies.

For operations with cryptocurrencies, you need to go to the Exchange section.

Representatives of Skrill company noted: “The ability to easily and quickly trade cryptographic currencies attracts new customers. Digital money are by ear. Many want to meet them, but do not know how to do it. The payment system has greatly simplified this process. ”

Today, trading cryptographic currencies with a Skrill wallet in 30 countries. Their number is constantly replenished.

How can I replenish and withdraw money from Skrill service

There are four ways to replenish a wallet:

  • using the NETELLER system;
  • by credit card;
  • BitPay cryptocurrency wallet;
  • transfer from the user's bank account. 

To replenish the account, click the “Deposit” button in your account. The user needs to select the optimal replenishment method and click Continue.

Next, indicate the details of the card or wallet from which the recharge will be made.

Skrill system allows you to withdraw money in the following ways:

  • transfer to a Neteller wallet;
  • output to Mastercard and VISA;
  • transfer to another wallet;
  • transfer to a bank account;
  • withdrawal to Skrill Mastercard (available only to residents of the European Economic Area).

Payment system commission

There is no fee for using Skrill for non-commercial private accounts. To do this, it is enough that the user conduct at least 1 transaction over the past year. If this condition is violated, then the service takes a monthly commission in the equivalent of 3 euros.

During the exchange, Skrill charges a commission of 3.99%.

Advantages of Skrill Payment System

Using the service has many advantages:

  • Simple and convenient Skrill interface.
  • Money in the account is protected by the Office of Financial Regulation and Supervision (UK).
  • Multicurrency. Cash in the account can be linked to dozens of currencies.
  • Technical support in various languages.

Disadvantages of Skrill Payment System

  • Restrictions on operations. To cancel them, user verification is required. To pass it you need to provide a scanned copy of your passport and certificates.
  • Ban exchange operations with other payment systems, the only partner is Neteller.
  • Each user can have a single account. If a person wants to open another account, both will be blocked.

Now there is a tendency to narrow the gap between cryptographic and fiat currencies. So, MyEtherWallet allows you to purchase Ethereum using MasterCard and Visa cards.

What you should know about buying and selling Bitcoins with Skrill

Transactions with cryptocurrencies are carried out in an amount not less than 10 euros. The maximum mark is set by limits, the value of which depends on the status of the Skrill account.

At what rate is the purchase / sale of digital money? Exchange is carried out at the average exchange rate, which is valid on the largest cryptocurrency exchanges. Money comes into the account almost instantly. Usually, the operation takes no more than 2 seconds.

Risks during the Transactions with Digital Money

The exchange, purchase and sale of digital currencies are associated with many risks. The most significant of these are the following:

  • Strong cryptocurrency rate fluctuations
  • British law does not regulate cryptocurrency transactions
  • Transaction security is guaranteed by a separate organization, not Skrill
  • Hackers regularly attack cryptographic exchanges
  • The possibility of bankruptcy of the trading floor

Encouraged by the success of Skrill in combining fiat and digital money, other services join it. One of them is MyEtherWallet.

Buying Ethereum for Fiat Money at MyEtherWallet

MyEtherWallet wallet is one of the most popular for ERC20 and Ethereum tokens. Its management announced the possibility of acquiring Ethereum through MasterCard and Visa. In the article “What is Ethereum?” you can learn more about the second most popular cryptocurrency in the world.

Cryptocurrency is acquired through the Simplex platform. Its important advantage is the use of artificial intelligence and advanced algorithms to detect fraud.

A prerequisite for acquiring cryptocurrency through a plastic card is verification. It is also important that the card issuing bank performs operations with cryptographic currencies.

The high popularity of MyEtherWallet leads to increased attention from hackers. Therefore, the service directs great efforts to ensure security.

More and more services are focused on cryptocurrencies. Skrill is trying to keep up with the times. The payment system is constantly expanding the list of services with digital money, introducing new tools and adding new coins. If you have an account with it, then you can directly execute transactions with cryptocurrencies from it. A relatively small commission will avoid additional costs associated with the withdrawal of funds and operations with them.