Skrill is widely recognized as a major online payment processor. However, it has expanded its offerings to include cryptocurrency trading, enabling users to buy and sell digital assets without leaving its platform. This comprehensive review covers all the essential details about Skrill's crypto services, from features and fees to security and supported countries.
For those new to digital currencies, trading cryptocurrencies can seem intimidating due to their complexity, volatility, and security considerations. This guide aims to clarify how Skrill works for crypto transactions and what users can expect.
Understanding Skrill Crypto and Its Core Features
It is important to note that Skrill is not a dedicated cryptocurrency exchange, nor does it function as a private crypto wallet. Instead, it allows users to buy and sell interests in specific cryptocurrencies. This means your assets are held in a pooled account under Skrill’s custody, which limits how you can use or transfer them.
Main features include:
- Ability to buy and sell crypto interests with as little as $1.
- Option to transfer crypto to other Skrill users.
- Capability to send cryptocurrencies to external wallet addresses (available only in select regions).
How Skrill Stacks Up Against Other Platforms
When compared to other popular cryptocurrency trading platforms, Skrill stands out due to its strong presence in the online gambling and sports betting industries—a niche many competitors do not target. The introduction of crypto services has allowed Skrill to attract new users and retain existing ones.
It is worth noting that the fees listed here apply to basic accounts without subscription plans.
Ideal for:
International investors
Demo account:
Not offered
Risk warning:
Do not invest unless you are prepared to lose all your money. Cryptocurrency investments are high-risk, and there are no guarantees of protection if things go wrong.
Among comparable platforms, eToro tends to have lower fees. Still, it is essential to understand exactly how Skrill’s fee structure works.
Breaking Down Skrill’s Cryptocurrency Fees
Trading crypto on Skrill involves several types of fees, not all directly tied to buying or selling digital assets. Below is a detailed look at each fee category.
Cryptocurrency Trading Fees
The most relevant charge for crypto traders is the exchange fee, which varies by account tier:
| Account Tier | Crypto Buying / Selling Fee |
|---|---|
| Skriller | 1.50% |
| True Skriller | 1.50% |
| Silver VIP | 1.40% |
| Gold/Diamond VIP | 1.30% |
Skrill partners with external crypto exchanges to provide these services. While these fees may seem high, they reflect the costs Skrill incurs when executing trades on your behalf.
Deposit Fees
Funding your Skrill account also incurs fees, which differ based on the payment method:
| Funding Method | Fee | Processing Time |
|---|---|---|
| Wire Transfer | 0.00% | 2–5 days |
| Credit or Debit Card | Up to 1.00% | Instant |
| Bank Link (Trustly, etc.) | Up to 1.25% | Instant |
| Paysafecash | Up to 2.50% | Instant |
| Paysafecard | Up to 5.00% | Instant |
Withdrawal Fees
Cashing out from Skrill also comes with costs:
| Withdrawal Method | Fee |
|---|---|
| Wire Transfer | 0.00% |
| SWIFT | GBP 4.66 (EUR 5.50) |
| Credit/Debit Card | Up to 3.99% |
| Neteller | 3.49% |
| Crypto Wallet | 2.00% |
Is Skrill a Safe Platform for Cryptocurrency?
Skrill adheres to industry-standard security practices to protect user accounts and transactions. However, cryptocurrency services on Skrill are not regulated by central authorities like the Central Bank of Ireland. This means there is an additional layer of risk compared to traditional financial services.
Since Skrill is not a crypto exchange but a facilitator, users do not hold private keys to their assets. Instead, cryptocurrencies are held in a pooled account. If Skrill’s service is disrupted, users could temporarily or permanently lose access to their holdings. There is also market risk—if a partner exchange delists a cryptocurrency, Skrill may require users to sell it within 14 days.
Cryptocurrencies Supported on Skrill
Skrill offers a broad selection of cryptocurrencies. Below is a list of some supported assets:
| # | Name | Symbol |
|---|---|---|
| 1 | Bitcoin | BTC |
| 2 | Ethereum | ETH |
| 3 | Litecoin | LTC |
| 4 | Bitcoin Cash | BCH |
| 5 | Cardano | ADA |
| 6 | Polkadot | DOT |
| 7 | Solana | SOL |
| 8 | Dogecoin | DOG |
| 9 | Shiba Inu | SHB |
| 10 | Chainlink | LNK |
| 11 | Uniswap | UNI |
| 12 | Avalanche | AVX |
| 13 | Polygon | MAT |
| 14 | Stellar Lumens | XLM |
| 15 | Tezos | XTZ |
This is only a partial list; Skrill supports over 40 cryptocurrencies in total.
How to Buy Bitcoin on Skrill
Purchasing cryptocurrencies on Skrill is straightforward. Before you begin, make sure you have:
- Created and verified your Skrill account.
- Deposited funds using one of the available payment methods.
Steps to buy crypto:
- Navigate to the Crypto section.
Log in to your Skrill account via the mobile app or website and select “Crypto.” - Choose a cryptocurrency.
Browse the list of available assets and click “Buy” next to your preferred cryptocurrency. - Enter the purchase amount.
Specify how much you want to spend or how much crypto you want to buy. - Review and confirm.
Check the transaction details, including fees, and confirm if you agree. - Complete the purchase.
Your crypto will be credited to your Skrill account almost instantly.
👉 Compare crypto trading platforms
Withdrawing Cryptocurrency from Skrill
Skrill allows crypto withdrawals to external wallets, but this feature is only available in certain countries. Withdrawals may take up to 24 hours to process.
To withdraw funds to a bank account, you must first sell your cryptocurrency for fiat currency (such as USD or EUR). You can then withdraw the fiat balance via bank transfer or other methods.
Countries Where Skrill Crypto Is Available
Skrill’s cryptocurrency services are available in most countries where Skrill operates, including:
Albania, Australia, Austria, Belgium, Brazil, Canada, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Ireland, Italy, Japan, Kenya, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Poland, Portugal, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Uganda, United Arab Emirates, United Kingdom, United States, and many others.
Note that Skrill has temporarily stopped accepting new users from Russia. Always check the latest terms and conditions on Skrill’s website for updates.
Frequently Asked Questions
Can I buy cryptocurrency with Skrill?
Yes, Skrill supports buying and selling a variety of cryptocurrencies. You can also use Skrill to deposit funds into other trading platforms.
Is Skrill a good option for cryptocurrency trading?
It depends on your goals. Skrill is convenient for beginners and those who want to hold cryptocurrencies short-term. However, if you plan to trade actively or use decentralized applications, you may need a dedicated exchange or private wallet.
What are the main risks of using Skrill for crypto?
The main risks include lack of regulatory protection, reliance on Skrill’s liquidity partners, and the inability to control private keys. Market volatility and asset delisting are also possible concerns.
Are crypto withdrawals available worldwide?
No, withdrawing cryptocurrencies to external wallets is limited to selected countries. Check Skrill’s website for the latest availability.
Can I use Skrill to send crypto to friends?
Yes, you can transfer cryptocurrencies to other Skrill users instantly and without fees.
Does Skrill charge fees for holding cryptocurrencies?
No, Skrill does not charge storage fees for holding cryptocurrencies in your account.