How to buy Bitcoin (BTC) with Skrill from the USA

By   |   Verified by Andrew Boyd   |   Updated 29th August 2022

As well as being able to buy crypto on Skrill itself, a number of crypto exchanges also support deposits made with Skrill.

Scroll down for a list of crypto exchanges that accept Skrill and our comprehensive guide to buying Bitcoin with Skrill in the US.

Unsure about what exchange to use?

Where to buy Bitcoin with Skrill

eToro Crypto

On eToro's website

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk."

eToro Crypto

Highlights

  • Buy $100 worth of crypto and get a bonus of $10.
  • Trade and stake a range of crypto assets with low fees.
  • Copy successful traders. Practice with a demo account.
  • eToro is regulated by CySec, FCA and ASIC.

Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.
Binance

Binance

Highlights

  • Trade over 50 cryptocurrencies with low trading fees.
  • Uses state-of-the-art storage technology to protect your cryptocurrency and USD assets
  • Earn rewards for holding coins and tokens.
Paxful

On Paxful's website

Paxful

Highlights

  • Buy and sell digital currencies using over 350 different payment methods.
  • Supports peer-to-peer trading.
  • Get a full-featured, secure wallet app.

Pros

  • Multiple deposit options are available.
  • Low fees.
  • Free wallet.
  • Rewards program.

Cons

  • Limited number of coins.

First time buying?

How to buy Bitcoin with Skrill

Step 1: Pick an exchange that supports Skrill deposits

First, you have to sign up with an exchange where you can buy Bitcoin and accepts deposits via Skrill. You can compare options on this page.

When you’re comparing crypto exchanges, consider their trading fees or spread, tradable coins, minimum deposits, and fees to withdraw fiat currency from your account.

Step 2: Confirm your identity

After setting up your account, verify your identity with an image of your driver’s license, or any other official form of photographic ID.

Step 3: Decide how much to invest

There’s an inherent risk in Bitcoin investments since the cryptocurrency constantly moves between bull and bear markets. Make sure you invest only what you can afford to lose if the price drops after you buy.

Step 4: Fund your exchange wallet

To deposit funds into your exchange wallet via Skrill, go to your account’s dashboard and choose ‘Skrill’ as a payment method. The flow from here on may vary depending on how the exchange has integrated with Skrill, but generally a new window will open so you can log into your Skrill account and transfer funds.

It can take up to 2 business days for funds to clear into your account.

Step 5: Make an order

Market orders require practically no configuration and are easiest to set up. Depending on the exchange, you may also be able to configure a recurring order (to buy more Bitcoin periodically) or a trigger order (so you can buy at a certain price in the future).

Step 6: Buy

The final step is to fill out the order form and buy Bitcoin. Once processed, your Bitcoin will be available in your wallet at the exchange.

Still not sure?

Pros and cons

Pros

  • Safe and secure. Skrill has been regulated by the UK’s Financial Conduct Authority (FCA) since its launch. It uses two-factor authentication and end-to-end encryption to keep your data safe and your funds secure.
  • Convenient. Buying Bitcoin with Skrill is very easy, especially if you can link your Skrill account with your exchange wallet for additional purchases in the future.
  • Privacy-preserving. Paying with a service like Skrill, PayPal, Venmo, or Zelle means you do not have to divulge your credit card details.

Cons

  • Not widely accepted by exchanges. Skrill is not widely accepted by crypto exchanges and brokers despite being available in more than 120 countries and territories.

Extra help

FAQs

How long does it take for funds to transfer using Skrill?

It can take up to 2 days for funds to clear into your exchange account, especially for the first deposit.

Can I buy Bitcoin with Skrill anonymously?

Yes, you can buy Bitcoin with Skrill anonymously. Skrill allows users to create an account and send and receive funds without verifying their identity. However, the amount of funds an anonymous user can transfer is limited. Furthermore, some peer-to-peer exchanges such as Paxful — which you can use without verification — also accept Skrill deposits.

Can I buy other cryptocurrencies with Skrill?

Yes, you can buy other cryptocurrencies with Skrill. Just select the desired cryptocurrency on the order form and make a purchase.