Buying Bitcoin with Skrill is a somewhat popular method and can be done on a few European exchanges. The fees associated with this method are slightly higher than using a credit card or debit card, so consider using those if possible.
Due to the relatively low desire to purchase Bitcoin with Skrill, there are only a handful of exchanges or services that support it. Below, we’ll compare and contrast your options for purchasing Bitcoin with Skrill.
|Bitpanda||5%||Wherever Skrill is Accepted|
|Virwox||9%||Wherever Skrill is Accepted|
|LocalBitcoins||8.5%||Wherever Skrill is Accepted|
Bitpanda will most likely be your best choice for purchasing Bitcoin with Skrill. While it’s somewhat unclear what fees Bitpanda charges on Skrill transactions, expect around 5%. The reason why its hard to judge the fees is that that price typically has a premium, rather than a percentage fee.
Regardless, Bitpanda is easily the simplest and best way for you to buy Bitcoin using Skrill.
Virwox is an interesting exchange and has been around for a very long time. Virwox is a virtual exchange that sells several digital currencies. It even got started from the trading of video game currencies!
To purchase Bitcoin on Skrill, you must first convert Skrill balance to Second Life Lindens, a currency from a video game called Second Life. You can then instantly convert these to Bitcoin and withdrawal them from the exchange.
Just like buying Bitcoin with Paypal, Skrill sellers on LocalBitcoin will often charge some pretty large premiums due to the risk involved. With that being said, buying Bitcoin with Skrill on LocalBitcoins is certainly doable…
At press time, the price of Bitcoin is $3,720. The best offer on LocalBitcoins is currently $4026 which is equivalent to a 8.5% premium/fee. Please also note the incredibly low purchasing limits available. We’re not saying its impossible, just not recommended.
Frequently Asked Questions
What is Skrill?
Skrill is best described as Europe’s Paypal and is a popular online payment system that is currently used by over 35 million people! It’s simple to integrate into your website or business allowing over 200 countries and 40 currencies to transact.
The service features near instant payments with a fee of 1% or .50 Euros, whatever is cheaper. This makes it convenient and usable for small and large transactions.
Why is Buying Bitcoin With Skrill Not Supported Everywhere?
Similar to buying Bitcoin with Paypal, the issue is that Skrill and Paypal transactions are reversible while Bitcoin is irreversible. These do not mix well and can cause issues for merchants.
How to Buy Bitcoin with Skrill on Bitpanda
First, you must create an account on Bitpanda. Once logged in, click the deposit option near the navigation bar.
After depositing with Skrill, you’ll want to select the cryptocurrency you want to purchase.
If you’re reading this, you’ll most likely want Bitcoin, but Bitpanda has several altcoins available.
Select the coin you want, and purchase it using your Bitpanda balance! This is pretty much the same as all other methods once you have deposited the funds onto Bitpanda.
And there you have it! You have all the information you need to start buying Bitcoin with Skrill.