Now, this can all be done on Skrill!
The fees associated with this method are higher than using a bank account, so consider using one if possible.
Below, we’ll compare and contrast your options for purchasing Bitcoin with Skrill.
|Bitpanda||5%||Wherever Skrill is Accepted|
|LocalBitcoins||8.5%||Wherever Skrill is Accepted|
Skrill features over 100 payment methods that allow you to bring funds onto the platform. Once your account is funded, you’re free to purchase Bitcoin and other cryptocurrencies with Skrill.
Like all exchanges, we highly discourage the storage of cryptocurrency on exchanges for extended periods of time. Learn more about hardware wallets to understand why.
For fees, Skrill will charge no deposit fees but various fees depending on the nature of the transaction. If you transact with another user on their exchange, then expect to pay .5% fees which are fairly low. By interacting directly with Skrill, you’ll pay 3x-6x more fees.
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 it’s 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 LocalBitcoins 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 an 8.5% premium/fee. Please also note the incredibly low purchasing limits available. We’re not saying it’s impossible, just not recommended.
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.
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.
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.