Cryptocurrency service within Skrill and NETELLER
You can find the “Crypto” tab in your account menu (if you don’t see it, this service is currently not available for your country of residence*). So there’s no need to register an account anywhere else, pass additional verifications, etc. Just use your account balance to trade crypto, as simple as that. Skrill and NETELLER claim that their rates are very competitive by comparison to the average market rates. Currently, it’s possible to buy and sell the following cryptocurrencies:
- Bitcoin (BTC);
- Bitcoin Cash (BCH);
- EOS (EOS);
- Ethereum (ETH);
- Ethereum Classic (ETC);
- Litecoin (LTC);
- Stellar Lumens (XLM);
- XRP (XRP);
- 0x (ZRX).
This list is continually expanding.
How does it work?
The process is very similar to the exchange. Let’s see how it looks like at Skrill (it’s almost the same for NETELLER users).
- Select the cryptocurrency you’d like to buy:
- Enter how much you want to spend:
- Double-check and confirm:
It works the same way when you sell cryptocurrency. There’s also a mobile app so that you can trade on the go.
Limits and fees
The exact minimum amount depends on the relevant cryptocurrency but will be approximately equal to €10. The maximum amount depends on the transaction limits associated with your account.
Fees are quite simple to understand:
Skrill account holders can make free p2p transfers in cryptocurrency. Also, when you buy or sell crypto using your Skrill wallet, these transactions count towards the threshold to receive VIP status. It seems like NETELLER users will be offered similar conditions shortly.
The Two Factor Authentication, also known as 2FA, is an extra layer of security that requires not only a password and email address but also a 2FA code sent to your mobile device through a software security token. So your funds are safe and secure.
Both systems allow customers from EEA countries to apply for prepaid Mastercard that gives instant access to the funds in your account balance. So you can spend your cryptocurrency or poker profits anywhere Mastercard is accepted. If you prefer cold hard cash, withdraw it via ATM.
Most online poker rooms accept Skrill and NETELLER. So if cryptocurrency is also your thing, you can hold your token portfolio along with fiat currency balance within a single e-Wallet.
* Cryptocurrency service is currently available in the following countries: Argentina, Armenia, Australia, Austria, Belarus, Belgium, Brazil, Bulgaria, Canada, Colombia, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Luxembourg, Malta, Mexico, Netherlands, Norway, Peru, Poland, Portugal, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, UAE, UK, Ukraine. Skrill and NETELLER are constantly working on expanding this list.
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