How can I buy bitcoins from Skrill

Buy Bitcoin with Skrill: Get your first coins in a flash

Bitcoin, Ethereum, Ethereum Classic, Ripple, Litecoin, Dash
  • Regulated and reputable provider
  • Trade bitcoins
  • Invest in bitcoins
Bitcoin, Ethereum, Ripple, Dash, Litecoin
  • Fast and secure withdrawals
  • Competitive spreads
  • 24/5 trading
Bitcoin, Ethereum, Ripple, Litecoin, Dash, IOTA, Monero, OmiseGo, Zcash, Santiment
  • Regulated and reputable provider
  • 24/7 trading
  • Debit and Credit Cards

With Skrill you can buy bitcoins quickly and safely. The payment method is accepted by many brokers and exchanges and enables 24/7 payments in real time. Skrill is also safe: you don't need to provide any sensitive account or card information. We have taken a close look at the best providers for a Bitcoin purchase with Skrill.

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Table of Contents

Buy Bitcoin at eToro: Our favorite

eToro has been offering CFDs since 2007 and has meanwhile also integrated crypto currencies into the catalog of underlying values. The broker is EU-regulated, offers a mature trading platform and has been working with customers from Germany for a long time.

 

The most important facts abouteToro

  • Flat-rate account management fees: None
  • Immediate account opening possible: Yes
  • Buy Bitcoin from: 200 USD
  • Commissions: None
  • Bitcoin Spread: 1.50%
  • Financing costs: None (when purchasing)
  • Leverage: None
  • Number of coins besides Bitcoin: 10
  • Deposit options: credit card, PayPal, Skrill, NETELLER, bank transfer, Giropay, instant transfer
  • Free demo account: Yes
  • Regulation: EU license (CySEC supervision)

Instructions: Open an account with eToro, deposit and trade

Call up the German-language homepage of the broker and click on the CFD Broker eToro solution button at the top right.

Account opening at eToro

A login window for existing customers will now appear. As a new customer, click on “Register now” below this window.

Registration with eToro

 

The registration form will appear. Enter your first and last name, a valid email address, a telephone number and a combination of your own nickname and password. Confirm the terms of use by clicking on the corresponding check mark and complete the step by clicking on the "Create account" button. Immediately afterwards you will find yourself in the main view of your temporarily opened eToro account.

Account opening form at eToro

 

In order to buy, you must first deposit funds. To do this, click on the corresponding button.



The account is not yet fully verified. You can deposit a maximum of 2000 EUR. You can start the process at any time by clicking on the "Edit" button. However, if you do not want to deposit more than EUR 2,000 immediately, this step can be postponed. As part of the verification, you have to answer a few legally required questions and confirm your identity by uploading a copy of your ID and proof of address.

The just opened eToro trading account

 

By clicking on "Deposit money" you open the deposit form. Select Skrill as your preferred deposit method and enter the amount above. Enter your Skrill email address below and then click on "send". You will then be redirected to Skrill.

Deposit at eToro with Skrill

 

Enter your login details and confirm the payment. If you have enough credit, you do not need to save any further means of payment. If the balance is insufficient, Skrill will ask you to select a bank account or card to top up with.

The payment is now complete. You will now be directed back to eToro. The deposited amount is already available in your trading account. Skrill will inform you of the deposit via email.

With the deposited balance, you can now buy Bitcoin immediately. You need the order mask for the purchase. You can reach this from the main view of the account by first clicking on "Markets" on the left and then on the menu item "Crypto" at the top.

Select Bitcoin as the base value

 

As a result, only CFDs relating to cryptocurrencies such as Bitcoin are shown in the main view. About a dozen different coins can be traded as CFDs at eToro.

Bitcoin is displayed at the top left. Click on the “Buy” button to open the order mask. Pay attention to the course displayed. The price in the “Buy” button is the ask price. This is the price at which you can currently open a long position in a CFD on eToro. The price of the “sell” button, on the other hand, is the bid price. At this price you can close an existing long position on eToro or open a new short position. The ask price is always higher than the bid price. The difference between the ask price and the bid price is also known as the spread and is one of the main sources of income for CFD brokers like eToro.

List of crypto underlyings at eToro

After clicking on "buy", the order ticket opens automatically. Here you determine the amount you want to invest in Bitcoin. The minimum amount to open a Bitcoin position on eToro is 200 USD or approx. 175 EUR. You can switch to another input mode by clicking on the "Units" button. Then do not enter the amount, but the number of units to be purchased. Click on “Open Trade” below to submit the order. Execution usually takes place immediately and the position is displayed in the list of open positions.

A Bitcoin trade is placed on eToro

eToro in portrait

eToro has been on the market since 2007 and is one of the best-known CFD brokers worldwide. The company is based in the EU member state of Cyprus. eToro is regulated by the Cypriot financial supervisory authority CySEC and is therefore subject to the provisions of the EU financial market directive MiFID. The German Commerzbank has also been involved in eToro via a subsidiary since March 2015.

In addition to crypto currencies, CFDs on numerous other underlying assets can also be traded at eToro. These include stocks, indices, commodities and currencies. The core of the offer is the copytrader. This is a social trading platform. This allows you to automatically copy other users' trades to your own account.

Buy Bitcoin at eToro: what does it cost?

There are costs involved in trading Bitcoin CFDs with eToro. The lion's share of the cost is due to the spreads. The spread in Bitcoin CFD is 1.5%. You only have to pay financing costs when you open a short position. Long positions are free of financing costs as eToro does not provide leverage. There are no deposit fees. However, 25 USD are charged for each payout. If you are not actively trading for a longer period of time, you should withdraw funds or close the account. The reason: eToro charges an inactivity fee of ten USD per month for long periods of abstinence.

Buy Bitcoin at 24Option

24Option, like eToro, is a CFD broker that accepts Skrill as a deposit method. Opening an account is also very easy and only takes a few minutes.

The most important facts about 24Option

  • Flat-rate account management fees: 10 EUR / month
  • Immediate account opening possible: Yes
  • Buy Bitcoin from: 200 USD
  • Commissions: None
  • Bitcoin spread: variable, 1.20% typical
  • Financing costs:
  • Leverage:
  • Number of coins besides Bitcoin: 10
  • Deposit options: Credit Card, Perfect Money, Bank Transfer, Skrill, Neteller, Sofortüberweisung, Giropay, Paysafecard
  • Free demo account: Yes
  • Regulation: EU license (CySEC supervision)

Instructions: Open an account with 24Option, deposit and trade

To start opening an account, visit the broker's homepage. This is completely available in German. Click on the button CFD Broker eToro a solution in the upper right corner.

24Option has a German-language homepage

 

A short registration form will then open. Enter the necessary data (name, email address and telephone number), check the terms and conditions and, if necessary, the newsletter and click on "Act now".

Open an account at 24Option

 

You are already in the account immediately afterwards. At 24Option you now have to answer a few questions first. The questions are part of the verification process. Among other things, you will be asked about your income and financial situation, your previous experience in CFD trading and your financial goals. For complete verification, just like with eToro, you must upload a photo of your ID and a photo of proof of residence (e.g. electricity bill). However, you can do this at a later point in time.



After answering the questions, you will be automatically redirected to the deposit form. Select Skrill as the desired deposit method, enter the desired deposit amount (at least ten euros) and click on "Submit". You will then be redirected to Skrill. Log in there with your access data and confirm the payment. As long as there is sufficient credit in your Skrill account, you do not need to enter any additional means of payment.

Deposit with Skrill at 24Option

 

The deposited amount is immediately available in your account. This is one of the greatest advantages of making a deposit with Skrill. You can now buy bitcoin.

After the deposit process is complete, you will be automatically redirected to the main account view. At the top left you will find a filter for the base values ​​to be displayed in the list. Select cryptocurrencies here. Now you have to choose a specific CFD contract from the list. There are several CFDs on Bitcoin. The contract BTCmUSD refers to exactly 1.0 Bitcoin per whole contract. Other contracts each relate to ten units of the cryptocurrencies.

In the next step, choose how many contracts you want to trade. The smallest possible position size is 0.01 contracts. Then decide whether to buy or sell. Finally, enter Stop Loss and Take Profit. Then click on “trade” to open the position. The order is executed immediately and appears in the list of open trades.

The user interface in the 24Option account

 

Who is 24Option?

24Option is a CFD broker based in Cyprus. The owner of the 24 Option brand is Rodeler Limited. As a financial company, 24Option is subject to supervision by the Cypriot financial supervisory authority CySEC. In addition to crypto currencies, the underlying catalog also includes indices, commodities, fiat currencies and various other underlying assets. The broker has been active on the market since 2013. Rodeler Limited is part of a group of companies headquartered in Belize.

Buy Bitcoin at 24Option: what does it cost?

Like most CFD brokers, 24Option does not charge any explicit commissions. Trading costs arise from the spreads between the bid and ask prices. The costs depend, among other things, on the payment made. In the best case, the value in the CFD on Bitcoin is only 1.2% and thus less than with many other brokers. Note that there is a $ 10 monthly maintenance fee. In addition, the broker charges inactivity fees if you do not trade for a long period of time.

Buy Bitcoin at IQ Option

IQ Option, like eToro and 24 Option, is a CFD broker based in Cyprus.

The most important facts about IQ Option

  • Flat-rate account management fees: None
  • Immediate account opening possible: Yes
  • Buy Bitcoin from: 1 USD
  • Commissions: none for long positions, 2.90% for short positions
  • Bitcoin Spread: 2.30%
  • Financing costs: 0.045%
  • Leverage: None
  • Number of coins besides Bitcoin: 11
  • Deposit options: Credit Card, Skrill, NETELLER, Bank Transfer, Sofortüberweisung, WebMoney, Trustly
  • Free demo account: Yes
  • Regulation: EU license (CySEC supervision)

Instructions: how to buy Bitcoin from IQ Option

First, look for the broker's homepage (there is a German-language version) and click on the CFD Broker eToro a solution button at the top right. Then enter your name, email address and password, accept the terms and conditions and click on “Open an account”. Alternatively, you can enter your data via Facebook or Google.

Opening an account at IQ Option

 

Then click on the "trade" button. You will now be redirected to a download page. The IQ Option trading platform is not web-based, but must be downloaded. This takes less than 1 minute and requires less than 20MB of disk space. Follow the instructions on the download page. After the download is complete, you will be redirected to the login page. Enter your email address and password there.

Now you need to deposit funds in order to trade Bitcoin CFDs. The necessary button is located at the top right and opens after clicking on the deposit form. Select Skrill as your preferred deposit method and enter the amount you want to view. IQ Option requires a minimum deposit of ten euros.

Deposit with Skrill at 24Option

 

You will now be redirected to Skrill. Log in there with your Skrill access data and confirm the payment. If there is enough credit in your Skrill account, no further means of payment are required. The deposited amount is immediately credited to your trading account at 24Option.

After the payment you will be redirected to the main view of the account. From there, start your Bitcoin purchase. To do this, click on the plus sign in the upper toolbar and select the categories "Account" and "Bitcoin" one after the other.

The IQ Option trading platform

 

The order mask now appears on the right-hand side. Enter the desired investment amount, define Stop Loss and Take Profit if necessary and then click on "Buy". The position should appear in the list of open positions a few seconds later.

Who is IQ Option?

IQ Option operates from Cyprus and has been licensed as a broker there since 2014. The company started out as a binary options broker and, like many competitors, later switched to CFDs. Finally, CFDs on cryptocurrencies were added to the range. The broker initially started in four CIS countries and then expanded strongly. IQ Option became known in Germany not least through advertising with very prominent athletes.



Buy bitcoin at IQ Option: what does it cost?

At IQ Option, trading costs consist of several components. On the one hand, there are spreads: in Bitcoin CFD, the bid / ask spread is typically 2.3%. When opening a short position, you will have to pay an additional 2.9% fee. The financing cost for leveraged positions is 0.045% per day. Inactivity fees may apply after a long period of inactivity.

Buy real coins with Skrill: The best providers

Skrill is not only accepted by CFD brokers. You can also buy Bitcoin on crypto exchanges and pay with Skrill.

Bitpanda

Bitpanda is an example of this. Bitpanda GmbH, based in Vienna, was founded in 2014 and enables trading in various crypto currencies. Skrill is accepted along with various other deposit options. A fee of 1.49% is typically charged for a purchase and a fee of 1.29% for a sale. These are added or deducted.

 

 

VirWoX

VirWox is not a crypto exchange, but an exchange for virtual currencies that play a role in computer games. Linden dollars from Second Life, for example, can be traded. It is possible to exchange such Linden Dollars in Bitcoin and then pay out the Bitcoin to your own wallet. To do this, money must first be paid into the VirWox user account. After that, Linden dollars are bought. In the next step, the Linden dollars are exchanged for Bitcoin. The fees for the various transactions add up to approx. 10% ...

CFDs Broker vs. Crypto Exchange: Where Are the Best Places to Buy Bitcoin?

If you want to invest in Bitcoin, you can opt for CFDs and real coins. It is not possible to say in general which variant is best for you. We have therefore compared the advantages and disadvantages of CFDs and real Bitcoin.

When you buy real coins on a crypto exchange like Bitcoin, you get Bitcoin in your wallet. The transaction is recorded in the blockchain. You can transfer your inventory to another wallet at any time.

A Bitcoin CFD has nothing to do with the blockchain. When you open a CFD position, there is only trade between you and your broker. A CFD is a contract for mutual settlement of differences. If you own a CFD on Bitcoin and the price rises, you are entitled to compensation.With a CFD on Bitcoin, you participate in price changes in the cryptocurrency just as much as when buying real Bitcoins.

Buying real coins has two main advantages. First, you actually own the cryptocurrencies and not just a derivative on it. Second: You can sell the coins on any exchange. On the other hand, if you open a CFD position with a broker, you can only close it with this broker.

CFDs also have some advantages. The brokers are regulated financial companies under official supervision. In contrast to the still very young crypto exchanges, many providers have been present on the market for a very long time.

A very important advantage of CFDs: There is no risk of hacker attacks. Real bitcoins can be stolen from your wallet by hackers.

Another benefit of CFDs is leverage. CFDs are traded “on margin”. If a CFD broker offers you a leverage of 1:10, you only have to invest 700 EUR at a Bitcoin rate of 7000 EUR in order to participate fully in the performance. However, always keep in mind that the leverage also works in the other direction and, in addition to disproportionate profits, disproportionate losses are also possible.

Another important advantage: You can speculate not only on rising, but also on falling prices. This is important, for example, if you want to temporarily hedge an inventory of real Bitcoins against price losses.

Investment with diversification: crypto copy funds

Diversification plays a major role in successful investments. For example, successful investors in the stock market never invest everything in one stock, but instead buy a large number of stocks or diversify by buying funds and ETFs. The same principle also applies to investments in cryptocurrencies.

As great as the potential of Bitcoin appears, it is just as important to invest in other cryptocurrencies. A portfolio of different coins makes sense. Ideally, this portfolio is composed according to fixed, qualitative or quantitative rules and regularly adjusted.

With Crypto Copy Funds, the CFD broker eToro has developed a solution for the diversification requirements of many investors. The products are not funds or ETFs, but CFD-based portfolios. You can call up the list of available products in the eToro user interface on the left as shown in the image below.

eToro offers CopyFunds

In the figure below, the CryptoFund has been marked as an example for Crypto Copy Funds.

The composition of the CryptoFund in August 2018 can be seen in the figure below as a diagram.

A cryptocurrency is only included in the portfolio if it has a market capitalization of at least USD 1 billion and the average daily trading volume does not fall below USD 20 million. This means that the Krypto Copy Fund relies on large and liquid coins.

The composition of the CryptoFund in August 2018

Alternatives to buying Bitcoin with Skrill

A big advantage of buying Bitcoin with Skrill is that the deposit amount is immediately credited to the provider. Other deposit methods also offer this advantage. You can choose between payments by credit card, instant transfer, Giropay or Netteller. These means of payment are also frequently accepted by CFD brokers as well as crypto exchanges.

We have tested all of the payment methods that you can use to deposit with CFD brokers and exchanges.

What is Skrill and how safe is it to buy Bitcoin?

Skrill is operated by Skrill Limited based in London. Until 2010, Skrill operated under the name Moneybookers. The company is regulated as an e-money institution. The payment service provider enables real-time payments via the Internet. Registered users can transfer money within seconds.

The Skrill account does not necessarily have to have a credit balance. Users can use means of payment such as B. deposit a credit card, which will be debited from the Skrill account when making a transfer. Since payments cannot be reversed without the recipient's consent, there is a high level of security for payees such as brokers or stock exchanges.

Skrill is part of the Skrill Group, which also includes PaySafe. The group operates in more than 180 countries. Skrill has grown significantly in reach over the past few years. Around 150 million online transactions with a cumulative transaction volume of EUR 13 billion are carried out every year.

Conclusion

With Skrill you can pay at CFD brokers and many exchanges. Payments are credited to your account immediately, so you can basically buy Bitcoin 24/7. As long as there is sufficient credit in your Skrill account, you do not need to save any further means of payment.


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