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I have a few hundred pounds sitting in Skrill from some freelance work a while back. Normally I would just withdraw it to my bank and buy crypto from there, but my bank has been declining crypto purchases for months now, so that route is basically closed. That leaves me two options: leave the money in Skrill and buy BTC directly with it, or withdraw to the bank and find another way, which given the declines probably means another payment method entirely.
What I cannot work out is whether going Skrill to BTC directly is actually cheaper, or whether I am just paying a different set of fees in a different order. Skrill charges something for the payment, the platform charges something for the service, and then there is the network fee on top. Compared with a bank transfer plus a card purchase, I genuinely do not know which is worse. Has anyone actually compared the two properly?I went through the same decision and ended up using https://paybis.com/buy-bitcoin-with-skrill/ rather than moving money back to my bank. What made it workable is that the fee breakdown is shown before you start the transaction, so you can see the platform fee and the network fee together rather than discovering them at the end. Skrill’s own charge is separate and comes from their side, so you will want to check that in your Skrill account before committing.
Two things worth knowing before you start. First, buying with Skrill still requires identity verification, so it is not an anonymous route and the first transaction takes a few minutes longer because of it. Second, the Skrill balance goes straight to the wallet address you provide, so the coins never sit in a platform account waiting for you to withdraw them, which was the part I cared about most. Compare the total across both routes with a small test purchase first, because the answer depends on how much you are converting and what Skrill charges you.
