Payments App Skrill Introduces Cryptocurrency Trading for Bitcoin, Bitcoin Cash, Litecoin, and Ether

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Payments App Skrill Introduces Cryptocurrency Trading for Bitcoin, Bitcoin Cash, Litecoin, and Ether

Skrill, the popular online payments processor firm that enables users to send and receive money seamlessly over the internet, has now added support for bitcoin, bitcoin cash, ether, and litecoin, to make life easier for users and retain its customers. As announced by the firm on July 25, 2018, holders of the Skrill wallet will now be able to buy or sell supported cryptos from some parts of the world.

Skrill Joins the Bitcoin Movement

According to a Finance Magnates report, users of the Skrill wallet can now conveniently purchase or sell bitcoin and altcoins such as bitcoin cash, litecoin, and ether.

As stated on its website, cryptocurrency investors can now make use of the over 100 alternative payment methods and 40 fiat currencies supported by the platform, to buy blockchain-based digital coins instantly from more than 30 countries of the world, excluding the United States and Russia.

CEO of Skrill, Lorenzo Pellegrino, stated:

“The world of cryptocurrency trading is exciting and dynamic, and our digital wallet service very much lends itself to this environment.”

More Crypto Ambition

Interestingly, the Skrill team have made it clear that in the coming months, they would extend their crypto offering to additional markets that are not currently covered and would also add the digital currency functionality to the Skrill mobile wallet as well as the NETELLER digital wallet, which is also a brainchild of Paysafe.

Additionally, Skrill will soon make it possible for users to carry out peer-to-peer transfers of cryptocurrency and pay with cryptos at supporting merchants globally.

Established in July 2001, the London-based firm has more than 700 employees and boasts of an annual revenue of over $300 million.

Skrill functions as a payment gateway, a payment service provider, and offers users digital wallets as well as prepaid cards to ease withdrawals.

Disrupting the Fintech Industry

At a time when distributed ledger technology (DLT), bitcoin, and other cryptocurrencies are disrupting Fintech industries and the global finance system, Skrill’s crypto compliance appears a sensible move, as it would help the company remain very relevant in a long time to come.

Similarly, on July 25, 2018, reports emerged that international mobile payments firm TransferTo had formed a strategic alliance with, the parent organization of the stellar lumens (XLM) altcoin, to facilitate cost-effective, fast, and frictionless cross-border payments for clients.

It’s no news that the crypto revolution is already upon us, with forward-thinking institutional investors latching onto the bitcoin bandwagon.

BTCManager informed on July 26, 2018, that Galaxy Digital LLP, the merchant bank of bitcoin big whale Mike Novogratz, had pumped in a whopping $52.5 million into BlockFi, to boost cryptocurrency lending.

Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.