How to buy Bitcoin with Skrill in 2024

This introductory guide explains how to buy Bitcoin with Skrill. Follow our simple three step guide to make your first purchase.
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Updated: Jan 29, 2024
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Trade your favourite markets with our top-rated broker, Plus500.

4.5/5

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Firstly, the most important question to answer is: can I buy Bitcoin with Skrill?

Yes, you can purchase cryptocurrency on the Skrill app. You can also use Skrill to fund a trading account and buy Bitcoin that way.

How to buy Bitcoin with Skrill – a step-by-step guide

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It takes about 15 minutes to buy BTC with Skrill. Have a copy of your photo ID to hand and follow this guide to get started.

Step 1. Sign up with Plus500

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We recommend Plus500 as the best platform to use to buy BTC with Skrill.

1
Min. Deposit
$ 100
Best offer
User Score
10
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker – FCA, ASIC, CySEC (license number 250/14)
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2. Create an account

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You need an account before you can buy anything. Sign up with your contact details and a form of ID for verification.

Step 3. Make a deposit via Skrill

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Enter how much you want to deposit and select Skrill as your payment method from the list of options.

Step 4. Use the search box to find Bitcoin

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Use the search box on the home page to search for Bitcoin and the currency you want to pay in (such as GBP).

Step 5. Make your purchase

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Enter how much Bitcoin you want to buy, check the details and process the transaction. Once the payment goes through, your new Bitcoin will show up in your exchange account.

Top Bitcoin platforms that accept Skrill

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1. Plus500. Best for international CFD trading*

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From 2%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to over 2800 instruments, including CFDs on stocks, forex, commodities, and cryptocurrencies among several others.

Plus500 has something for all types of traders, no matter what level of experience. It’s zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% or 0.9 pips and varies depending on the instrument. Additional fees include overnight funding which is dependant on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. KuCoin. Best social trading altcoin exchange

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...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Anonymous trading with up to 2 BTC withdrawals/24 hours Wide variety of cryptocurrencies No deposit fees
Low trading volumes not suitable for big traders Doesn’t support U.S. customers You might experience delays and lags during high-traffic times.

Overview

We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.

KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.

The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.

Highlights

Visit KuCoin KuCoin Review

3. OKX. Best for futures and margin trading

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...

Fees

...

Minimum deposit

...

No. assets

No

Demo/virtual account

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods
Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools. 

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Highlights

Visit OKX OKX Review
Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.

Quick answers to key questions

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Can I buy crypto with Skrill?

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Yes, you aren’t limited to buying Bitcoin alone. The only limit is which coins are available on the exchange you’ve chosen. Most crypto exchanges that support Skrill as a payment method offer 50+ cryptocurrencies and many offer hundreds more.

Is Skrill safe?

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Yes, it’s completely safe to use Skrill. The only risk to look out for is to make sure you sign up to a regulated Skrill Bitcoin broker when buying Bitcoin. Using an unregulated broker platform can put your money at risk.

How can I buy crypto on the Skrill app?

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There are more than 40 cryptocurrencies available to buy on the Skrill app. Follow the steps in the guide below to learn how to buy crypto on Skrill app:

1. Download the Skrill app and create an account. 

Download the Skrill app from your mobile device app store and follow the instructions to create an account. Add funds to your Skill balance using a range of payment methods including credit/debit cards and bank transfers. 

2. Navigate to the ‘Crypto’ tab

Tap the ‘crypto’ tab within the Skill app and search for the coin you wish to buy. 

3. Buy crypto on Skrill

Now simply enter how much crypto you want to purchase and hit the buy button. You can monitor your position in the Skrill app and make any changes such as buying more or selling.

How much does it cost to buy Bitcoin via Skrill?

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Each regular crypto transaction is charged a 1.5% fee. Crypto P2P (peer to peer) transactions are charged 0.5%. 

Premium members access better fees, up to a best of 1.3% for Skrill Gold or Diamond VIPs.

Can I store Bitcoin in my Skrill account?

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Yes, you can store Bitcoin and any of 40+ cryptocurrencies on Skrill. Skrill is a digital wallet that also acts as a crypto wallet as well as storing fiat currency.

Why don’t more crypto platforms support Skrill?

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Many do, including leading platforms like Binance. For ones that don’t, it often means they only accept a small number of payment methods, such as a bank transfer and leading debit cards.

Should I buy Bitcoin using Skrill?

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Skrill is a good option to remain semi-anonymous, as you can avoid providing any bank details when you buy Bitcoin. You can also buy directly through the Skrill app, which is convenient if you already use the digital wallet.

Here is a quick list of the pros and cons of using Skrill to buy Bitcoin.

Pros

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  • Buy Bitcoin direct through the Skrill app and store it in the same place
  • Low minimum purchase of just $1
  • Can use Skill to send Bitcoin to other people

Cons

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Is there an alternative to buying cryptocurrency with Skrill?

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There are plenty of alternatives, whether you want to pay through an online payment provider or go down a more traditional route. Here are some of the different ways to pay for your Bitcoin purchase.

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FAQs

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Can I buy Bitcoin with Skrill on Coinbase?
Can I buy Bitcoin with Skrill on Cash App?
How do I fund my crypto account with Skrill?
Can I buy Bitcoin with Skrill instantly?
Can I buy Bitcoin with Skrill anonymously?
Are there low fees when using Skrill?
Can I get other cryptos using Skrill?
Is Skrill the easiest way to get Bitcoin?
What’s the biggest pro and con of using a peer-to-peer exchange?
How easy is it to find a peer-to-peer exchange that accepts Skrill?
Is using Skrill recommended for beginners?
Is using Skrill a more viable strategy if you plan to hold Bitcoin for the long term?
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Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.