Crypto Basics Cryptocurrency

Best Way to Buy Bitcoin with Skrill Instantly and Safely

March 13, 2019


Best Way to Buy Bitcoin with Skrill Instantly and Safely

Since 2018, users can buy bitcoin directly through Skrill’s website so long as they have a credit card. Unfortunately, this feature has two key drawbacks.

First, this service is only available in a handful of countries. If you happen to be outside the EU and North America, chances are, you won’t be able to use it to buy bitcoin. Countries excluded from the service include large economies like Japan, which is a bit of a problem.

Another problem is that the system is designed to let users invest in cryptocurrencies. If you want to withdraw your coins, you’ll find it difficult or impossible to do so. This is a problem because virtually anything you might want to do with bitcoin involves withdrawing it from Skrill.

With that in mind, it’s good to have another option that does let you manage your money fully: CoinCola.

Enter CoinCola

CoinCola is a hybrid platform that combines 2 technologies. One is a crypto exchange; the other is an OTC marketplace that connects crypto buyers and sellers, letting them trade various cryptocurrencies.

Buying bitcoin using Skrill is easy with CoinCola. Furthermore, the commision fee is just 0% for buyers and 0.7% on advertised trades, which makes CoinCola one of the cheapest places to buy bitcoin. And with over 100,000 transactions per month, there are always buyers and sellers online.

Here’s how the process works.

Step 1: Create an Account and Verify It

1. Open or in your browser.

2. Click through “sign up”.

3. Verify your mobile number and log into CoinCola.

4. Go to the “user center” website section, or the “settings” tab in your “me” screen if you’re using the app.

5. Click “authentication” or “real name verified” depending on which version of the service you’re using.

6. Confirm your identity by uploading photographs and keying in your data.

7. Wait for confirmation.

Step 2: Trading Bitcoin for Skrill

  1. Go to the “OTC” section of CoinCola.
  2. Click “buy BTC”

3. Find a seller that accepts Skrill transfers and click on them.

4. Choose how much BTC you’d like to buy or how many Skrill dollars you’d like to sell.

5. Open the trade, talk to the seller, and complete payment once you have an agreement.

6. Click “mark as paid” and wait for your coins to get released.

7. At this point, you’ll have successfully exchanged your Skrill money for Bitcoin. Congratulations!

Frequently Asked Questions

Q: Is it safe to buy Bitcoin using Skrill on CoinCola?

A: So long as you read the instructions on the website carefully, the process is 100% safe. However, if you release your money before opening a trade, you could lose your funds. Make sure a trade is open and that its terms are clear before taking action.

Q: Why do so few websites let people buy bitcoin with Skrill?

A: Bitcoin transfers are irreversible. Skrill transactions, on the other hand, are easy to reverse. This means that many people are afraid of selling their bitcoin this way, since customers can just ask for their money back (and receive it) using Skrill.

Q: What are the advantages of disadvantages of using Skrill to buy bitcoin?

A: A major advantage is speed and convenience. The downside is that converting Skrill to bitcoin and vice versa can cost more than doing so with, say, credit card transfers.

In conclusion

Finding a place to buy bitcoin using Skrill dollars can be tricky. Now that you know you can do so using CoinCola, what are you going to do next? Leave a note below and let us know!