Skrill has announced that it will support the buying and selling of virtual currencies on its platform. The company has over 30 million users and the move is expected to enhance the accessibility of Cryptocurrencies in more countries. Some virtual currency trading platforms like eTor and BitPand allow their customers to send and receive payments through Skrill.
Another Cryptocurrency Trading Platform
Skrill has become the latest company to allow Cryptocurrency trading on their platform. Customers will now use the Skrill ap to buy virtual currencies such as Ethereum Classic, Litecoin, Bitcoin Cash, Ethereum, and Bitcoin. The Crypto sector has had its eyes on the company with over 30 million active users to enhance the penetration of Cryptocurrency trade.
Since its establishment in 2001, Skrill has been trying to improve financial transaction. The company supports over 40 fiat currencies allowing fast transfers across different countries. The iGaming community loves the platform and has recently demonstrated an interest in virtual currencies. Skrill is popular in this industry because it facilitates transacts at lower charges than banks.
Skrill has not revealed the Cryptocurrency exchange that is supporting this feature. However, the company has said that the existing customers will not be required to sign up afresh to enjoy this service. Those wishing to join the platform will have to register and verify their accounts. The company has said it will charge 3 percent for purchasing the virtual currency and 1.5 percent for selling for USD and EUR transactions.
How The Crypto Market Will Benefit
Skrill is a large company with over 30 million active customers across the world. The company supports over 40 fiat currencies in the different countries where it operates. Its entrance in the Crypto sector will enable more people around the world to access the virtual currencies using their local currencies.
Furthermore, Skrill will also provide Cryptocurrency storages services to its customer. This will mean after buying Bitcoin, Ethereum, and other fast-emerging altcoins, customers will have a safe place to store their assets. The platform will provide almost similar services to those offered by Cryptocurrency ATMs. The company will play a major role in enhancing the use of virtual currencies around the world.
Skrill Not New In Cryptocurrency
Skrill has been in the virtual currency for some time but in a different way. Various Cryptocurrency trading platforms like eToro and BitPanda allow their customers to deposit and withdraw fiat currency using the platform. Lorenzo Pellegrino, the company’s CEO recently said the virtual currency sector is “exciting and dynamic.” The popularity of the company has been growing every year, especially after it rebranded from Moneybookers to Skrill in 2013.
Skrill has provided a highly intuitive platform that will make it easy even for those new in the sector to buy and sell different altcoins. Given that the platform supports many fiat currencies, users will be able to participate in Crypto space without any difficulty. Skrill could be seen to be taking the advantage of the exit of Stripe in the sector. The e-wallet has been supporting Crypto trading until it stopped providing these services this year.