How to Buy Crypto with Skrill

Can I Buy Bitcoin with Skrill App?

Yes, Skrill allows customers to buy or sell 40 different cryptocurrencies through the app. We recommend avoiding this method as the platform charges up to 15% in costs, which includes 1% - 5% in deposit fees, 1.5% trading fee, 2% - 4% withdrawal fee, and a 3% accounting fee. For a more cost-effective, secure, and diverse trading experience, we suggest using a digital asset exchange in Europe, Asia, the US, the UK, Australia, or wherever you’re located. 

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How to Buy Crypto with Skrill

If you want to dive into the cryptocurrency market, using Skrill as your payment method can offer a secure and efficient experience. Kraken, regulated in 180+ countries, allows you to buy, trade, and hold a wide range of over 200 cryptocurrencies at competitive rates. With Kraken's integration of Skrill, you can easily transfer funds directly from your account using various fiat currencies, such as EUR, GBP, USD, INR, AUD, and more.

For investors who are keen on trading cryptocurrencies via Skrill, here's a straightforward guide:

1. Create an Account: The first step is establishing an account on Kraken. Complete the necessary identity verification process applicable to both individual and business accounts. 
2. Select Currency: Once you're logged in, go to the deposit section and choose your preferred currency, such as USD or EUR. 
3. Fund Account: Pick Skrill as your desired payment method and follow the prompts to deposit funds.
4. Execute Trade: The final step is to pick the cryptocurrency you're interested in and proceed with your trade.

Can I Withdraw Crypto from Skrill to an Exchange?

Yes, Skrill has recently enabled cryptocurrency withdrawals that will enable you to transfer your coins from your Skrill account to exchanges like Kraken, Bybit, and Binance. This means if you don't want to use the Skrill platform anymore because of their expensive fees, you can transfer the coins into a different wallet. The fees to withdraw assets from the app to an external wallet are 2%.

You can transfer coins from Skrill to an exchange like Kraken by logging into the app, selecting ‘Withdraw’, and then ‘Crypto Wallet’. Now, select the token you wish to transfer and the amount you want to withdraw. Enter your destination wallet address and confirm the transaction. Kraken is the best platform to trade crypto as it is registered as a Money Services Business with FinCEN, operating under Payward, Inc., with MSB Registration No. 31000239561651.

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What is Skrill?

‍Skrill is a digital payment platform that offers a wide range of financial services, including online money transfers, cryptocurrency trading, and prepaid cards. Founded in 2001 as Moneybookers, the company rebranded to Skrill in 2011 and has since become a popular choice for both individual users and businesses. 

Its user-friendly interface allows for seamless transactions across multiple currencies and payment methods, including bank transfers, credit cards, and more. The platform places a strong emphasis on security, employing advanced encryption technologies to protect user data and financial information. Skrill's versatility and commitment to providing a secure, efficient payment experience make it a go-to solution for those looking to manage their finances online.

Final Thoughts

To recap, Skrill is a costly option for investors wanting to buy cryptocurrency. While the platform does offer the ability to buy, sell, and even withdraw a variety of cryptocurrencies, the fees can be prohibitively high, up to 15% when all costs are considered. However, Skrill users can transfer funds to digital asset exchanges that accept deposits from the application. 

Our comprehensive review identifies Kraken as the top choice for Skrill users, thanks to its low fees, diverse cryptocurrency offerings, and robust regulatory compliance in over 180 countries. Kraken not only allows you to trade over 200 different cryptocurrencies but also offers the option to stake assets, all while adhering to stringent financial regulations.