Skrill Now Allows Buying All Available Altcoins with Bitcoin

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Thu, 11/28/2019 - 06:57
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Alex Dovbnya
Skrill adds a new crypto-to-crypto buy and sell option to its digital wallet
Skrill Now Allows Buying All Available Altcoins with Bitcoin
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Global payment provider Skrill has made an announcement about adding a new new feature that allows buying all cryptocurrencies available on the platform directly with Bitcoin. Hence, it eliminated the need for converting crypto into fiat in order to make a purchase. The press release states that a similar feature will be added to be added to the NETELLER wallet in the next few months. 

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Paysafe-owned Skrill launched its cryptocurrency service back in July 2018. The London-based firm gave its customers an opportunity to buy "interests" in various digital assets, including less popular altcoins like Ethereum Classic and 0x, with local fiat currencies and hold an interest.

The obvious downside of such services is that you do not physically own your coins. Cryptocurrencies are held on the customer's behalf in a pooled account. 

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Skrill CEO Lorenzo Pellegrino acknowledges that crypto is an important part of their business, and they want to make it easier for their customers to interact with the new asset class. 

Cryptocurrency is an important part of what we do in digital wallets and using our scale and vast experience of the payments industry, we’re continually enhancing our service to help our customers get the most out of the crypto ecosystem.”

As reported by U.Today, Dan Schulman, the CEO of Skrill's heavyweight competitor PayPal, recently revealed that he owned Bitcoin. However, as of now, the biggest online payment system in the world chooses to stay away from crypto.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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