How can I buy Bitcoin with Skrill?
Skrill, formerly known as Monerybookers, now offers its customers the ability to instantly buy and sell cryptocurrencies through its platform.
Skrill is one of the leading online payment system providers and part of the well-known Paysafe Group.
And with more than 16 years on the online payment front, it has become one of the most used digital platforms on the Internet. In this guide, we will provide you with ways on how to buy Bitcoin with skrill.
Exchange your Skrill balance to Bitcoin through Skrill
Skrill has introduced a new feature that allows users to exchange fiat currencies like dollars and Euros to Bitcoin, Bitcoin Cash, Ethereum and Litecoin. However, the service is not available in all countries. So you check first if your country is supported.
Sign up or log in to your Skrill account.
In My Account find the dashboard on the left hand side.
On the Dashboard, scroll down to “EXCHANGE” and click it.
Select your currency of choice.
Enter the amount of money you want to exchange to Bitcoin.
Your balance will appear immediately after the exchange.
Skrill charges 1.5% to 3% for exchanging your balance to Bitcoin.
Buy Bitcoin with Skrill through Bitpanda
Bitpanda is a cryptocurrency exchange based in Australia. The platform allows you to trade Bitcoin (BTC), Ethereum (ETH), Litecon (LTE), and other coins. Bitpanda accepts Skrill and other payment methods like EPA and SOFORT. It also supports traditional payment methods like Visa and MasterCard.
- Create an account at Bitpanda
- Log in to your Bitpanda account and click “Buy”.
- Select the amount of BTC you want to buy.
- Select Skrill as your payment option.
- Receive your BTC and you are done.
Note that trading fees are incorporated in the platform’s prices for each cryptocurrency. Also, only EUR transactions are accepted, which suits the European buyers and sellers.
Buy Bitcoin with Skrill through VirWoX
VirWox is not a cryptocurrency exchange, rather an exchange platform dedicated to buying Life Lindens (SLL), a currency used in the virtual world Second Life. However, the platform has gained mainstream popularity after it made it possible to buy SLL with Skrill, and then trade the SLL for Bitcoin.
- Create a VirwoX account
- Fill the appropriate information and confirm your account via email
- Deposit money into your VirWox account through Credit/Debit card that you use with Skrill.
- You will be redirected to Skrill website where you can authorize the transaction.
- You will be able to trade your balances in your VirWox account for SLL
- Convert the balance into SLL after which an option to trade your SLL for Bitcoin will be presented to you.
- After converting your SLL to Bitcoin, it’s recommended you transfer your BTC to your personal wallet.
VirWox is the best option if you live outside the EU. If you live in the EU, Bitpanda is recommended. Unlike Bitpanda which requires a lot of identity verification, VirWox doesn’t require any verification.
Buy Bitcoin with Skrill at LocalBitcoins
LocalBitcoins is a peer-to-peer marketplace for trading Bitcoin locally for real-world currencies. To buy Bitcoin with Skrill:
- Create a LocalBitcoins account
- Fill all the required information
- Browse sellers pages. You may want to choose traders with a good reputation and positive reviews.
- Negotiate terms to purchase Bitcoin.
There are many traders at LocalBitcoins that will accept Skrill as a payment method. Also, check limits first because each trader has some limits.
It is worth bearing in mind there aren’t many options when it comes to buying BTC with Skrill and other similar payment systems like PayPal. This is because transactions carried out through these platforms are reversible. Bitcoin transactions, on the other hand, are irreversible. For this reason, crypto exchanges that accept Skrill and PayPal normally put an outrageous transactions fee to cover the potential risk of fraud.