Buy Bitcoin with Skrill

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If you've ever wondered how to use Skrill to buy Bitcoin, we'll cover everything you need to know in this article. We'll explain what Skrill is, four ways to buy Bitcoin with Skrill, whether you should use it to buy crypto, and answer some frequently asked questions.

Best Overall Exchange
eToro
5.0
etoro logo

Discover cryptocurrency trading that’s secure, smart, and seamless with eToro. It is one of the best platforms to buy and sell crypto for both beginners and professional traders.

Summary of Best Crypto Exchanges to Use With Skrill

Best Overall

Fees
None
trading fees
Account Minimum
$200
Promotion
Earn $10 when you signup and deposit money into your account
Coinmama
Coinmama logo

Best for High Limits

Fees
5.50%
trading fees
Account Minimum
$0
Promotion
No deposit or withdrawal fees for individuals who open a new account
Bitpanda
Bitpanda logo

Most Secure

Fees
1.49%
trading fees
Account Minimum
$0
Promotion
Earn $10 when you signup and deposit money into your account

What Is Skrill?

Skrill is a company that offers fast, instant, and secure optimized payment solutions for all businesses. A business owner can enable more than 100 payment options, such as credit cards, e-wallets, and direct bank transfers, among others.

With just one account, you can manage over 40 currencies, making international payments simpler. Skrill offers fast check out, electronic wallets, fast bank transfers, and shopping carts to their e-commerce customers.

These features make checkout simple for their customers.

Four Ways To Buy Bitcoin with Skrill Instantly

You can buy Bitcoin with Skrill instantly in four different ways.

Buying Bitcoin with Skrill Directly

To buy Bitcoin with Skrill directly, follow these steps:

  1. Create an account and deposit funds into it.
  2. Select crypto and agree to the risks.
  3. Select the "Market data" tab, select Bitcoin as your cryptocurrency, then click the purple "Trade" button.

Once you click the Trade button, you'll see the current exchange rate. Skrill automatically calculates how much you will receive based on this rate when you enter how much you want to spend.

Be sure to check the exchange rate and the amount. Click "Confirm" if you're okay with it.

Sending Bitcoin with Skrill

Follow these steps to send Bitcoin with Skrill:

  1. Log into Skrill and fund your account.
  2. Click "Withdraw," then "Crypto Wallet.” 
  3. You will be prompted for your withdrawal amount.
  4. Click "Withdraw" and confirm the amount.

Buying Bitcoin with Skrill on eToro

  1. Join eToro and open an account.
  2. Verify it by uploading proof of ID and your address.
  3. Deposit at least $10.
  4. Search for Bitcoin - it will be BTC in the eToro dashboard, then click "Trade."
  5. Enter the amount of Bitcoin you want to buy, then click "Open Trade."

Buying Bitcoin with Skill on Bitpanda

  1. Create a Bitpanda account.
  2. When logged into your account, go to "Buy" and choose Skrill as the payment option.

The only downside to using Bitpanda is that you can't see how much you'll pay in fees directly. They incorporate the fees in the final amount. Usually, BitPanda charges a 4% fee for using Skrill.

How To Buy Bitcoin with Skrill

  • Open a Skrill account.  Go to the Skrill website and click "Register". You'll have to provide your first and last name, country, state, and currency, email, password, and click a box confirming you've read their Terms of Use.
  • Add your payment methods.  Go to "Deposit" and choose the payment method you want to add. The safest payment method is a bank account - according to Skrill's website, other payment methods may fail.
  • Deposit funds in your local currency.  If you use your bank account, it can take up to three business days to see the funds in your account. If you choose debit or credit card, you'll see the funds right away if the transaction goes through.
  • Choose an exchange. Once you've deposited money in your account, go to "Crypto" and choose "Bitcoin." Enter the amount you want to spend.
  • Complete the exchange process.  After entering the amount, click "next." Double-check the exchange rate and amount and confirm the transaction.

Should You Use Skrill To Buy Crypto?

Yes, Skrill is a very secure way to buy crypto. It's been around since 2001 when it was initially called Moneybookers. Skrill was founded in the United Kingdom, where the Financial Conduct Authority regulates it and it operates under UK law.

According to its website, it is also licensed to do business in all states except Hawaii. If you want to use Skrill to buy crypto and don't already use one of the websites mentioned here, check them out and decide which one is best for you based on your budget.

Skrill FAQ's

Here are the answers to some frequently asked questions about Skrill:

Can I send money from Skrill to a Bitcoin wallet?

Yes, it's easy to complete a money transfer (even international transfers) from Skrill to a Bitcoin wallet:

  1. Log into Skrill.
  2. Top up your account.
  3. Click "Withdraw," "Crypto wallet."
  4. Enter the amount you want to withdraw.
  5. Choose the destination for your crypto and confirm the withdrawal.

Is it safe and secure to use Skrill?

Yes. The Financial Conduct Authority has regulated Skrill since it started, following some stringent rules and regulations. It does everything it can to protect its users' money.

Users are the only ones who determine the safety of the service. You're at risk if you forget your password or lose your device or if the wireless network you're connecting to is unsecured.

It uses a few techniques to mitigate this risk, however. For example, it tries to recognize the device and IP while asking for two-factor authentication, but you have to allow them to work, so use them responsibly.

Is Skrill good for buying crypto?

Yes. Many platforms accept Skrill for crypto purchases, and Skrill is secure, making it an excellent way to buy crypto.

Are there minimums when buying Bitcoin with Skrill?

Yes. The minimum depends on the Bitcoin broker you choose. For reference, here are the minimums for a few Bitcoin brokers:

  • eToro: $200 minimum deposit.
  • Coinmama: $100 minimum deposit.
  • Paybis: $50 minimum deposit.
  • Bitpanda: €25 ($26) minimum deposit.

eToro

eToro is a social trading company that focuses on providing copy trading services that has registered offices in Cyprus, Israel and the United Kingdom.