Skrill digital wallet supports buying and selling of cryptocurrencies: The market remains in the green
|- Bitcoin, Ethereum, Bitcoin Cash and Litecoin can now be bought and sold on Skrill.
- Skrill currently has support for more than 40 fiat currencies on its digital wallet platform.
The digital wallet, Skrill has recently announced that it is adding support for various cryptocurrencies. The platform boasts of having active users in more than 30 countries around the world. Skrill is a subsidiary of Paysafe Group, besides it has grown tremendously to become a leading payment service provider. The cryptos to be supported are Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
Skrill currently has support for more than 40 fiat currencies on its digital wallet platform. The cryptocurrencies' buy and sell service has been made available through collaboration with a cryptocurrency exchange. However, the exchange’s identity was not made public in the announcement and remains anonymous. This ‘unnamed’ exchange will be holding the virtual currencies for Skrill customers. The service does not currently support paying with cryptocurrencies. Similarly, the users will not own the cryptocurrencies they buy for now, but all these services will be made available in future.
The process of buying or selling cryptocurrencies on the platform is not complicated. Once users have logged into their accounts, they only need to select ‘exchange’, followed by a few more clicks to buy, hold and sell digital assets. The CEO of both Skrill and NETELLER, Lorenzo Pellegrino said in a quote:
“The world of cryptocurrency trading is exciting and dynamic, and our digital wallet service very much lends itself to this environment. I’m confident that the ability to trade in cryptocurrencies quickly and easily through Skrill will appeal to consumers both now and in the future.” Lorenzo went ahead to say that people “want to experiment with cryptocurrency trading,” but don’t know where to start doing so. As such, he said, the company.”
The cryptos' buy and sell service will be rolled out into the company’s mobile application alongside Paysafe’s NETELLER wallet in the coming months.
Many payment service providers are diving into the cryptocurrency ecosystem. For instance, Robinhood commission-free trading app has been expanding its service in the United States. Another platform, Square’s Cash app has already begun offering crypto buy and sell services to its customers.
Market Overview
The crypto market is slightly bullish on Thursday. Most of the digital assets are trading in the green while NEO is the biggest gainer among the top 20 cryptocurrencies. EOS is up over 5% on the day while IOTA is also correcting higher with a 4.57% rise in value at the time of press. Top three cryptos, Bitcoin, Ethereum and Ripple are up more than 1% on a daily basis. The slight bullish trend is reflected across the board.
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