Summary: While Skrill does offer cryptocurrency services directly through its app, it should be noted that buying crypto through the Skrill app is among the most costly methods out there. Therefore, to buy crypto with Skrill, we suggest investors sign up with a reputable multi-asset investment platform eToro and deposit funds through the Skrill app. After testing more than ten other trading platforms, we found it to be the best choice, as it offers lower trading fees, a wide selection of digital assets, and is trusted by over 30 million customers.
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Can you buy crypto with Skrill?
Yes, the Skrill app allows customers to trade 40 different digital currencies through a range of deposit methods, but its cryptocurrency service isn’t regulated by the Financial Conduct Authority (FCA), and users will incur multiple fees when trading cryptocurrencies through their platform. Therefore, a better option for buying crypto with Skrill is to use it as a funding method to deposit money to licensed cryptocurrency exchanges regulated by the FCA.
How to buy crypto with Skrill?
The best and most inexpensive way to buy crypto with Skrill is through a trusted broker like eToro, which is a widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as Copy Trading, which enables users to copy top-performing crypto traders, in addition to a custom watchlist, as well as advanced charts and technical analysis tools.
How to buy crypto with Skrill: Step-by-Step
You can buy crypto in just a few minutes with four simple steps:
- Step 1: Create an account on eToro and complete your verification (personal or company);
- Step 2: Enter the USD/GBP/EUR amount you want to deposit on the eToro platform;
- Step 3: Connect Skrill to deposit your selected fiat currency;
- Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.
Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
About Skrill
Skrill is an online payment system and electronic wallet established in 2001. The digital wallet is available in 40 currencies and operates in 131 countries. It also offers various online payment and money transfer services, ATM withdrawals, prepaid debit cards, and even cryptocurrency services.
Customers can add funds to their Skrill account using multiple payment options, such as credit or debit cards, bank transfers, prepaid cards, etc. Once the funds have been deposited, they can be used for online payments, purchasing cryptocurrency, or transferring funds to other accounts.
Note that Skrill applies various fees for its services, such as transaction and currency conversion fees, for which you can find detailed information here.
Note
Skrill crypto policy
Skrill is crypto-friendly and provides cryptocurrency services directly from its platform through partnering with third-party crypto exchanges. While it may seem like a convenient way to buy digital assets, it’s worth noting that the fees can get pretty steep. Therefore, Skrill crypto users should explore other options to buy Bitcoin or other cryptocurrencies.
Instead, to maximize the value of your funds when buying cryptocurrencies, it’s cost-effective and secure to use it as a funding method on viable platforms such as eToro. Not only do they offer lower fees, but their crypto trading platform is also superior.
How to buy crypto safely
Cryptocurrencies, as a relatively new and untested territory, are subject to high speculation and drastic price swings. This renders them considerably more precarious than conventional asset classes such as stocks or bonds. Additionally, the crypto sphere is rife with scams, frauds, and scandals, which further emphasize the importance of caution when starting out.
Tips when starting out with crypto
Fortunately, there are strategies you can employ to safeguard both yourself and your hard-earned cash, such as:
- Research the asset: Understand your chosen crypto;
- Use a secure device: Use your personal computer with a VPN for a safe connection, avoiding public Wi-Fi and computers;
- Pick a reputable exchange: Choose an exchange licensed by regulators in your country with a good track record. Read user terms and reviews for safety;
- Secure your account: Protect your account with two-factor authentication and a strong password;
- Choose the right wallet: Store your crypto in a secure hot (online) or cold (offline) wallet. For guidance, refer to our guide on crypto wallets;
- Invest wisely: Only invest what you can afford to lose due to market volatility. Check out our guide on investing mistakes to avoid;
- Monitor investments: Stay updated on market changes and the price of the cryptocurrency you’re investing in.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy crypto with Skrill:
How to buy crypto with Skrill?
You can buy crypto with Skirll directly from its app or use Skrill to deposit funds to a licensed third-party cryptocurrency platform.
Can you buy crypto with Skrill?
You can buy crypto with Skrill, either directly from its platform or through a licensed third-party crypto broker.
What crypto exchanges does Skrill allow?
Customers can deposit funds from their Skrill account to licensed cryptocurrency exchanges to buy crypto.
What is Skrill's crypto policy?
Skrill offers cryptocurrency services directly through its platform. In addition, Skrill allows its customers to use its services to buy, sell and trade digital assets through regulated exchanges.
