Skrill Payment Platform & Crypto Exchange Review

Skrill (originally Moneybookers) is a London-based electronic payment system found in 2001. Skrill offer an easy-to-use environment for making payments and receiving money from all around the globe.

 

Skrill Review at a Glance

Skrill allow users to use and manage an electronic purse for multiple purposes:

√ Deposit money via credit/debit cards or bank wire

√ Receive money from others

√ Make quick payments to other Skrill accounts

√ Buy online goods and services

√ Withdraw funds to bank accounts or to credit/debit cards

√ Withdraw funds via ATMs (via the Skrill Card)

√ Buy, hold, and sell cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

 

► Visit the Skrill Official Website

The Company

Skrill is based in London, UK and considered a safe electronic payment system. This is some basic information:

• Offices: United Kingdom, USA, Austria, Sweden
• Foundation: 2001
• Phone number: +44870383076
• Website Languages: English, Chinese, Spanish, German, French, Russian, Italian, Polish, Romanian, Czech, and Turkish

 

Skrill Review: Deposit & Withdraw Money

Skrill users can deposit/withdraw money in multiple ways:

1. Bank deposits

This deposit option is available for all countries as long as the bank transfer originates from a bank account held in your name. Note that local and international bank transfers take 2 to 5 business days (excluding weekends).

2. Credit/debit card deposits

-Credit/debit card deposits are instant

-Charges apply (check below for more information)

-The first deposit may require identity verification

Supported Cards: VISA, Mastercard, AMEX, JCB, Diners, Maestro, Laser, Carte Bleue, CartaSi, and Postepay

3. Deposit Bitcoin (BTC) and Bitcoin Cash (BCH)

Compatible wallets to deposit BTC are the following:

• BitPay Wallet
• Copay Wallet
• com Wallet
• Mycelium Wallet
• Edge Wallet (Formerly Airbitz)
• Electrum Wallet
• Bitcoin Core Wallet
• com Wallet
• BRD Wallet
• Bitnovo

 

Skrill Review: Fees & Expenses

These are the basic fees charged by Skrill.

Fees for receiving money?

Receiving money is always free of charge for individual accounts. Fees may apply for business accounts.

Fees for withdrawing funds?

The withdrawal fees vary depending on the withdrawal option.

• Withdrawal to Bank account– flat fee of EUR 5.50
• Withdrawal to VISA - 7.5%
• Withdrawal to mobile wallet - 1.45% (min. EUR 0.50)
• Skrill Prepaid Mastercard - 1.75%

What are the fees for sending money?

• The fee for sending money to another Skrill account depends on your country of residence
• Purchasing goods and services with your Skrill account and Skrill card products is free of charge on Skrill's end

What is the FIAT currency conversion fee?

For all transactions involving a currency conversion, a fee of 3.99% is added to Skrill's wholesale exchange rates.

Fees for the Skrill Prepaid Mastercard

• Annual fee (€10)
• For ATM usage (1.75% of the withdrawal amount)

Skrill Virtual Prepaid Mastercard

• The first Skrill Virtual Prepaid Mastercard is free, the cost of any subsequent card is 2.50 EUR

 

Investing in Cryptocurrencies with Skrill

Skrill allow users to buy and hold Bitcoin and other cryptocurrencies directly through their website. Users need just a simple account to be able to deposit funds and invest in cryptocurrencies. Skrill offer investing in the following cryptocurrencies:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Ripple (XRP)
• EOS (EOS)
• Stellar (XLM)
• Ethereum Classic (ETC)
• 0x (ZRX)

How Buying/Selling Crypto Works?

The Skrill crypto exchange can be used solely for investment purposes. Meaning you can buy, hold, and sell cryptocurrencies but you cannot withdraw them into a hardware/software wallet.

Practically, by going to the “Crypto” tab and choosing “Exchange” you can exchange your local currency to Bitcoin and other cryptos.  The fee when exchanging Euro or US Dollar is 1.5%, and when exchanging other FIAT currencies is 3.0%. There is also a tiny spread between ask/bid. When you want to exchange cryptocurrencies back to your local currency, you are going again at the “Crypto” tab and apply the exact opposite process.

 

Skrill Crypto Exchange Service Pros

• Invest via a simple and easy-to-use Skrill account
• Secure process (2-factor authentication)
• Buy and sell crypto in a few clicks
• Deposit Bitcoin & Bitcoin Cash
• Create auto-orders (pending orders for buying/selling crypto automatically)
• Offers Bitcoin plus many other hard-cap cryptocurrencies
• No need for a hardware wallet
• No overnight fees (as in the case of investing via CFDs)
• 100% fungible coins (you don’t have to worry where your cryptocurrency coins came from)
• Send Cryptocurrency instantly to another Skrill customer

 

Skrill Crypto Exchange Service Cons

• You can’t withdraw cryptocurrencies (for investment purposes only)
• Exchanging from Euro or USD costs 1.5%, but all other FIAT currencies have double fees

 

Supported Countries by Skrill (alphabetical order)

• Albania, Algeria, Andorra, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan
• Bahamas, Bahrain, Bangladesh, Belarus, Belgium, Belize, Bhutan, Bolivia, Bosnia & Herzegovina, Brunei, Botswana, Brazil, Brunei, Bulgaria
• Cabo Verde, Cambodia, Cameroon, Canada, Chile, China, Colombia, Costa Rica, Côte d Ivoire, Croatia, Cyprus, Czech Republic
• Denmark, Dominica, Dominican Republic, DR Congo
• Ecuador,
• Egypt, El Salvador, Estonia, Ethiopia
• Fiji, Finland, France
• Georgia, Germany, Ghana, Greece, Guatemala
• Haiti, Holy See, Honduras, Hungary
• Iceland, India, Indonesia, Ireland, Israel, Italy
• Jamaica, Jordan
• Kenya, Kiribati, Kuwait
• Latvia, Lebanon, Lesotho, Liechtenstein, Lithuania, Luxembourg
• Malaysia, Maldives, Malta, Marshall Islands, Mauritius, Mexico, Micronesia, Moldova, Monaco, Montenegro, Morocco, Mozambique
• Nepal, Netherlands, New Zealand, Nicaragua, Nigeria, Norway
• Oman, Pakistan, Panama, Paraguay, Peru, Philippines, Poland, Portugal
• Qatar, Romania, Russia, Rwanda
• Saint Lucia, San Marino, Sao Tome & Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Korea, South Sudan, Spain, Sri Lanka, St. Vincent & Grenadines, State of Palestine, Swaziland, Sweden, Switzerland
• Tanzania, TFYR Macedonia, Thailand, Tonga, Trinidad and Tobago, Tunisia, Turkey, Tuvalu
• U.S., Uganda, Ukraine, United Arab Emirates, Uruguay
• Vanuatu, Venezuela, Viet Nam, Zambia, Zimbabwe

 

► Visit the Skrill Official Website

 

■ Skrill Payment Platform & Crypto Exchange Review

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