Bitcoin(BTC) price movement is topic about which we can read news almost on a daily basis in all media. Until a few years ago, very few people ever heard of the concept of cryptocurrency and Bitcoin, and today BTC has become the most desirable thing to invest. Many believe that Bitcoin has the potential to become more valuable than gold within next decade. Currently, the value varies between 50 and 60 thousand dollars, and according to certain predictions, in the next 5 years, 1 BTC may be worth even up to a million dollars.
That is why everyone wants to invest and buy at least a fraction of Bitcoin. The whole procedure of buying BTC, although it seems complicated, does not have to be that way at all. Especially today when you can find many different ways to buy BTC, some of which are very simple and you can finish everything in a short time. One such way is to buy Bitcoin with Skrill. What is Skrill, how to buy BTC with Skrill and what are the best places to spend Skrill for Bitcoin, read below.
What is Skrill?
Skrill is one of the first and most popular digital wallets in Europe and in the world. If you don’t know what a digital wallet is, also known as “e-Wallet”, it is a special type of online service that allows you to buy various things and services online or by using a smartphone in a brick and mortar store. Skrill was created in 2001, when the Internet and everything else related to it was still in its infancy, and smartphones did not even exist yet.
Until 2010, Skrill was known by name Moneybookers. Skrill operates in over 100 countries and over 40 different currencies are used. You can upload money in various ways, from classic ways such as bank payments, to various other alternative payment methods. Once you have uploaded money, you can pay for services, goods and transfer money to other Skrill users. What interests us most today is possible from 2018, and that is to buy and trade cryptocurrencies with Skrill.
How to buy Bitcoin with Skrill?
The whole process is very simple. The first thing you need to do is create your Skrill account if you don’t already have one. Once you have done this, you will link your credit card to your account. Then you will deposit funds in any currency you want. After that, you should connect Skrill account and account to one of the platforms that allow you to purchase BTC. We talk about best platforms to do so in the following paragraph. Once you do all the necessary steps, Skrill funds will be available for you to buy cryptocurrencies. There is a special section on the Skrill website that is dedicated to cryptocurrencies. Click on the “crypto” tab and you will find everything you need.
Best places to spend Skrill for Bitcoin
Scams always happen. You have to be especially careful when it comes to investments of several tens of thousands of dollars, like when you are investing in BTC. That’s why it is important to choose only reliable platforms and exchanges which are around for a long time. Following are the most reliable platforms and exchanges that you can easily and quickly connect to your Skrill account and buy BTC.
Payabis is an online crypocurrency exchange, where you can buy and sell over 10 available cryptocurrencies, which includes Bitcoin, as well as the second most popular cryptocurrency, Ethereum. They support the use of different currencies and a very wide range of payment options. They are very reliable and their customer ratings are high.
What is stated as a disadvantage is high commissions and fees, but that is the price you have to pay to keep your money and cryptocurrencies safe. You should also know that it does not work in all US states, so make sure that Payabis works in your state before you decide to deposit your Skrill funds there.
You’ve probably heard of the Etoro platform, as they have invested a lot in marketing in recent years so you can see many ads on TV. Etoro is a very reliable platform, which you can use not only as an exchange to buy or sell cryptocurrencies, but also to invest in the stock market. It is popular among all those who trade Contract for differences.
You can make a deposit using your Skrill eWallet, and you can withdraw all funds whenever you want, without fees. Privacy is at a very high level and Etoro rightly has a reputation as one of the most reliable trading platforms. According to the smartbitcoininvestments, Bitcoins can only be withdrawn in the form of fiat currency which is considered to be the only disadvantage of Etoro.
3. Hodl Hodl
If you want a completely decentralized and anonymous exchange, you won’t find a better one than Hodl Hodl. They accept fiat currency and you will easily and quickly create an account and link it to your Skrill eWallet. There are no deposit and withdrawal fees, which is another plus. Hodl Hodl has never been hacked, so it is very safe. The only reason why people are sometimes reluctant to use Hold Hold is because it is a relatively new exchange office, operating for only 5 years.
BitPanda has been around since 2014 and is located in Austria. BitPanda is so easy to use that you buy bitcoins with Skrill in under 10 seconds. You can use EUR, USD, CHF, and GBP, and when you use Skrill you do not pay any additional fee to make a deposit. They are very reliable and trusted. What some users resent about them is that fees aren’t shown separately, but are automatically included in the buying price. This does not mean that they are not transparent, but some users believe that they could change this practice.
Using Skrill to buy Bitcoin is a very efficient and fast way. Just be sure to use reliable platforms so that hackers do not steal your money.