Daniel Klein and Benjamin Kullmann founded Moneybookers in 2001, which eventually rebranded to Skrill as a digital wallet provider. Currently, it is under the Paysafe Group after acquiring Skrill and Neteller in 2015. It provides its users with various online payment solutions and money transfer avenues with regulation and licensing under the Financial Conduct Authority (FCA). It is a hassle-free deposit method through your mobile device offering over 40 currencies. The digital wallet is available in over 120 countries serving users hence has a wide market reach with several local payment solutions. These include paying merchants, bank transfers, depositing to other users, and funding into crypto.
Top 9 sites for buying, selling and trading crypto with Skrill
This is the toplist with the best sites to buy, sell or trade cryptocurrencies through Skrill. To learn more why a certain site is ranked the way it is, you can read our review by clicking the review button. We generally recommend using an exchange or platform with good track record, great reputation and positive feedback from its customers. The better option for you as customer, the better ranking we give them.
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- 1 Top 9 sites for buying, selling and trading crypto with Skrill
Above are the best crypto exchanges, platforms and brokers offering funding with Skrill.
It offers various convenient deposit methods. You can deposit funds through to your Skrill account in the following ways:
+Debit/Credit Card such as Visa and Mastercard.
It has a wide range of currencies it supports with a secure system. It has a two-factor authentication and a loyalty program for its users. Several exchanges support its deposits due to its penetration in several countries. Some of the most reputable crypto sites that accept Skrill include eToro, Skilling, Avatrade and LocalBitcoin. It grows popular on these sites due to instant trades, several secure payment options, and more fiat currencies.
+ Skrill provides secure deposits with strong encryptions and password protection
+It supports at least 40 currencies hence you can deposit local currency.
+Skrill offers a wide range of payment options hence ease of use.
+It offers chargeback option on all payments except via debit/credit card.
+Skrill Limited integrates with several exchange platforms hence the luxury of options.
-Skrill has a tedious verification process to open an account.
-It does not offer a LiveChat feature which limits its customer service.
-Skrill charges an increased commission for double conversion of currency.
-It only offers prepaid cards to European members.
-The payout fee using VISA card is relatively high.
What is Skrill?
It is an online payment provider for international transfers. It allows instant transfer of funds between merchants and customers while allowing inter-transfers between its accounts. It also facilitates users to trade cryptocurrencies in various exchanges and pay for items online. It is unique in offering many payment options in over 40 currencies. It has a loyalty programme, Knect, that rewards users points for each transaction they make. Users can exchange these points for cash rewards and bonuses. It also allows users to manage their crypto portfolio in real-time and execute strategies. The biggest usage for Skrill is when you have money in there, you can easily transfer it to one of the top crypto sites. Some examples include Skilling, that got a huge amount of cryptocurrencies and very low spread. Another option is eToro (review) – where you can copy a huge amount of traders automatically. Try eToro today!
International bank transfers are free with other payment methods such as Paysafecash and debit cards incurring up to a 1% charge. To send funding via credit cards results in up to 2.99%. The exchange rate markup fee on international transfers is up to 4.99% per transaction while the same currency transfer incurs the same charge. Domestic transfers charge a fee of up to 2% whereas sending money to other accounts costs up to 2.99% per transaction. In addition, the platform also charges deposit and withdrawal fees depending on the payment method used. There is also a currency conversion fee of up to 3.99% and additional trading crypto fee charges. It has relatively lower fees on crypto and does not charge users for receiving money. It is advisable to keep your account active at least every 6 months otherwise you incur 5 Euro service per month.
Transaction speed for Skrill
Its transaction speed is instant, especially with money transfers for domestic payments and Skrill to Skrill transfers. International Bank transfers and Rapid transfers take two to three business days. Refunds to your account are also fast taking one to two business days. Generally, the period of funding your account is dependent on the payment method you use. The fast transfer speed in domestic payments is of interest to several of its users.
1. Select Skrill from the list of deposit options.
2. Select from the available deposit methods. These include bank transfer, rapid transfer, Paysafe Card, and debit/credit card.
3. Input the deposit amount to top up your wallet.
4. Complete the transaction by verifying it with your PIN code.
Which are the main countries where Skrill is used?
It is available in several countries including the United Kingdom, USA, France, Germany, South Africa, Australia, India, and Singapore. However, some countries do not have access to the platform. These include Japan, North Korea, Seychelles, and several others.
Can you withdraw with Skrill?
Yes, you can use various payment methods to withdraw. You incur a withdrawal fee based on which method you select. There are withdrawal limits based on the type of account you have and the country of residence. You may be required to verify your identification upon withdrawal. In addition, the minimum withdrawal amount is 10 USD while the maximum amount is 10,000 USD.
Reputation of Skrill
It receives rave reviews on the fast and secure transfer of funding. Its penetration in the crypto market is much welcome with users trading at ease. In Skrill vs Neteller debate, Skrill comes out top due to its lower fees. On the flip side, some users complain of the tedious verification process and its high fees. These include chargeback fees and withdrawal on VISA cards. The deposit fee is also high.
Paypal (review here) is a more established alternative for deposits, where more users got money. However, other users appreciate the platform due to its boldness in operating in countries and industries where other digital wallets do not work.
Here are some of the most frequently asked questions about deposits and transfer to Skrill with or into cryptocurrencies.
Is it safe to use Skrill for cryptocurrencies?
Yes, it is safe to use the platform. It has secured encryption and two-factor authentication and password to protect users’ data from scammers. Additionally, it is licensed and regulated by the Financial Conduct Authority in the UK.
How do I set up Skrill?
Visit the official website and select register in the upper right-hand corner. Input your personal information to verify the account. These include your name, email address, and password. Confirm by selecting register. With that, the account setup is complete.
Is Skrill instant?
Domestic transfers are instant, especially on Skrill to Skrill accounts. It is also rapid in Money transfers locally. This is a significant feature that attracts several users. International transfers can take up to 3 business days depending on the payment method.
When was Skrill founded?
It was founded in 2001 as Moneybookers and later rebranded to Skrill in 2013.
Where is the mother company based?
Paysafe is the platform’s mother company based in London, UK.
What is the difference between Skrill and Neteller for crypto deposits?
It is more affordable than Neteller for crypto deposits. It does not charge deposits via bank transfers whereas Neteller charges between 3% and 7%.