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Skrill launches crypto trading offering

3min Read
Skrill launches crypto-trading offering

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Crypto investors now have a new way of buying some coins. The online payments service from Skrill has been extended to include the option of buying cryptocurrencies.
This move into the world of digital currencies means that the company’s 35 million account holders can easily buy Bitcoin, Ether and other coins directly from their Skrill wallet.

What is the Service All About?

At the moment, Skrill is offering the chance to buy Bitcoin, Bitcoin Cash, Litecoin and Ether. This can be done using more than 100 payment methods. Included in this list are 40 different fiat currencies.
Customers who open a Skrill wallet don’t need to carry out any additional identification checks to start buying and selling crypto coins. The commission rates stated on their site are 1.5% for buying and selling using US Dollars or Euros with 3% charges made on other currencies.
There are more than 30 countries covered by this new service. This includes the UK, Ireland, Canada, South Africa, France, and Spain among others. It is believed that the plan of Skrill is to introduce their crypto service to other markets later.
They are looking at putting the cryptocurrency buying and selling onto their mobile app. In addition, Skrill is also said to be planning to put it into the Neteller digital wallet that is operated by the same parent company, Paysafe Group.

Source: Pixabay

Source: Pixabay

How Popular Has Skrill Become?

Skrill started in 2001 as Moneybookers and changed over to its current name in 2013. Back in 2010, this was classed by the Sunday Times as being the number one private equity firm in the UK. It is typically used to transfer cash between friends or to pay online for goods and services.
As well as being used to send money from one person to another, this service is also popular for adding funds to accounts on third-party sites. Skrill is particularly popular on gaming sites that use accounts funded with real money. For example, at online Casino Cruise where you can play roulette online, you can use Skrill to fund your account so that you can play the likes of French Roulette, Immersive Roulette, European Roulette, and Rapid Roulette.
It is also an option for adding funds to some existing cryptocurrency exchanges and platforms. Skrill is accepted on sites such as eToro and BitPanda. They also offer a MasterCard linked to your account, to let you withdraw cash and spend in shops all around the planet.
It isn’t clear how many customers they have right now. Skrill stated that they have 35 million wallet holders, but it seems safe to assume that not all of them are active users.
The addition of this new service certainly opens up the world of cryptocurrencies to far more people. Anyone who has been wondering about how to get started on buying some digital coins might decide that this is the simplest way for them to do so.
Lorenzo Pellegrino is the CEO of Skrill. He said that the crypto world is “exciting and dynamic” right now. He went on to say that they have made the “entire process very straightforward”. Skrill says that they will be using “a recognized cryptocurrency exchange” to trade and hold the coins.


Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.
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