How to Buy Crypto with Skrill

About buying crypto with Skrill

Skrill is a digital wallet run by Paysafe. You fund it from a bank account or a card, hold a balance in one of many currencies, and pay merchants from it without handing over your bank details. It works in more than 200 countries and can hold money in over 40 currencies.

Paying a crypto exchange with Skrill means the money moves from your wallet to the exchange after you log in and approve it. You don’t share your card or bank details with the exchange. You do need a verified Skrill account in your own name, and the name on it has to match your exchange account. Payments out of Skrill are generally final once sent.

The list at the top of this page shows the exchanges that accept Skrill.

Skrill history

Skrill started on 27 July 2001 in the United Kingdom under the name Moneybookers, as a digital wallet provider. In February 2013, by then rebranded as Skrill, it acquired the Austrian prepaid method paysafecard. In 2015 Skrill was bought by Paysafe, alongside NETELLER and paysafecard, and became one of Paysafe’s core wallet brands. Since then it has added cryptocurrency features and cross-border money transfers. For someone paying today, what matters is that Skrill is a long-established wallet backed by a larger payments company, with a mature verification process and a wide currency range.

Skrill and crypto

Skrill has its own crypto service built into the account. You can buy or sell crypto through an instant-order tool in the Crypto section. It supports a growing list of coins, and anything you buy there is held for investment inside your Skrill account.

Skrill also lets you move crypto out: a withdrawal through a merchant is free, while a direct withdrawal to an external wallet costs 2.00%. A foreign exchange fee of 1.5% applies when your account currency isn’t EUR for crypto transactions. This in-app service is separate from using Skrill to fund an exchange account, which is what the rest of this page is about.

How to buy crypto with Skrill

These steps work at any exchange that accepts Skrill.

1. Pick an exchange. Choose one from the list at the top of this page.
2. Set up Skrill. Open and verify a Skrill account in your own name, and fund it.
3. Verify the exchange account. Complete the exchange’s identity checks before you try to deposit.
4. Choose Skrill. On the deposit or buy screen, select your currency and pick Skrill.
5. Approve the payment. Log in to Skrill and authorise it from an account in your own name.
6. Buy your crypto. Once the balance appears, place your order.

Can you buy crypto instantly with Skrill?

A Skrill payment is a push transaction you approve yourself, so it usually credits the exchange within minutes. It’s one of the quicker non-card options. A first-time payment can take longer while checks run, and weekends or bank cut-off times can slow down the step of getting money into the wallet in the first place. Once the balance is in Skrill and the exchange accepts it, the deposit itself is fast.

Fees when buying crypto with Skrill

Paying with Skrill can involve more than one charge. First there’s getting money into the wallet: a bank transfer into Skrill is free, while a card top-up can cost up to 1.25% on the EU fee schedule and is free on the USA one. Second, the exchange may add its own deposit fee for wallet payments. Third, Skrill applies a currency conversion markup whenever the currency you’re paying in differs from your wallet balance, and on any sizeable deposit that’s usually the biggest cost. Check the full total on the exchange’s confirmation screen before you commit.

Getting money back out

Whether you can withdraw to Skrill is a separate question from whether you can deposit with it, and some venues support only the first. Check the withdrawal methods before you fund, particularly if Skrill is the only rail you have.

Getting money out of Skrill itself is straightforward, to a bank account or a card, but each route carries its own fee and its own timing, and a card payout is generally slower than it sounds. A bank transfer withdrawal costs 1.75%, with a minimum of 3.50 EUR.

If your goal is eventually to hold cash in a bank account, a venue that pays out by bank transfer removes a step and a fee from the chain.

How to choose an exchange that accepts Skrill

Between exchanges that accept Skrill, compare the total cost shown before you confirm, since that’s what you actually pay. Check how long account verification takes, and whether you can withdraw back to Skrill rather than only deposit with it. Look at which coins each one offers and at its security record. The currency the exchange charges in matters too, because that decides whether you pay Skrill’s conversion markup. The list at the top of this page shows the exchanges that accept Skrill.

Skrill pros and cons

Questions

Skrill FAQ

Does the Skrill account have to be in my name?

Yes. The personal details on the wallet must match your exchange account. A payment from someone else’s account will usually be rejected.

Can I withdraw from an exchange back to Skrill?

Sometimes. Being able to deposit with Skrill doesn’t guarantee you can withdraw to it. Check the exchange’s withdrawal methods before you fund.

How fast is a Skrill deposit?

Usually within minutes, because you approve each payment yourself. A first payment or a weekend top-up into the wallet can add a delay.

What happens if a payment fails or comes from someone else?

A payment from an account that doesn’t match your exchange details will generally be rejected and returned. Skrill payments are treated as final once sent, and a chargeback situation carries a 25 EUR fee.

How do I avoid the conversion markup?

Hold a balance in the same currency the exchange charges in. The markup only applies when the two currencies differ.

What if an exchange doesn’t offer Skrill?

Use another method it does accept, such as a bank transfer or a card. The list at the top of this page shows which exchanges take Skrill.