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Skrill Users Can Purchase Altcoins Using Bitcoin

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The global and recognized payment solutions provider Skrill informed that they are now offering users the possibility to purchase altcoins using Bitcoin (BTC). 

This could be very positive for the whole community considering it would not be necessary to use fiat currencies to purchase other altcoins in the market. Users will simply be able to do so by exchanging Bitcoin for another crypto. 

Skrill Adds New Solutions For Users

Since July 2018, Skrill is allowing users to buy what they call ‘interests’ in different cryptocurrencies. Although this came in the middle of a bear market, it has certainly attracted the community. 

However, users are not able to own the coins they purchased on the platform. Indeed, the funds are controlled by the company on behalf of the user. 

Now, users can start purchasing altcoins using the largest cryptocurrency in the market. This would make the whole system more efficient without having to sell their interest in a specific cryptocurrency, purchase fiat currencies and then move into another digital asset. 

Skrill is working with the payments platform Paysafe that has been providing different payment services for a wide range of companies and firms. 

The company knows that users want to have more access to cryptocurrencies considering the interest in the market has been steadily growing over the last few years. 

The CEO of Skrill, NETELLER and Income Access at Paysafe, Lorenzo Pellegrino, explained about this:

“We know that our customers want more functionality to make it even easier for them to access and interact with cryptocurrency. Cryptocurrency is an important part of what we do in digital wallets and using our scale and vast experience of the payments industry, we’re continually enhancing our service to help our customers get the most out of the crypto ecosystem.”

The company is planning to launch the crypto-to-crypto solution in the NETELLER digital wallet solution in the next few months. 

There are several platforms that are allowing users to purchase cryptocurrencies using other digital assets. However, it is always advised for individuals to be the owners of their own private keys. 

Individuals and investors should be responsible for the custody of their cryptocurrencies considering that hackers could eventually steal the funds from a hot wallet related to an exchange or wallet provider. 

The new decision to help users exchange cryptocurrencies using Bitcoin through Skrill will certainly have a positive impact on the company and its customers. 

Jide Idowu

Jide Idowu

Cryptocurrency freelance writer. Many hours dedicated to researching on cryptocurrencies, the blockchain, and so on has increased my experience in this field.

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