Paysafe’s Skrill partners up with Coinbase to launch a new white-label solution, enabling customers across certain areas in the world’s largest economy to efficiently trade multiple cryptocurrencies.
Such collaboration bolsters Skrill British based payment platform presence as customers benefit from faster transactions And Lower Fees
Skrill digital wallet will help facilitate such services at the world’s biggest cryptocurrency market.
READ: U.S Government to unveil Crypto nemesis before end of July
The company’s Skrill digital wallet solution will be teaming up with Coinbase, a popular exchange platform provider.
This first phase of Skrill’s expansion into the US cryptocurrency market strengthens American access to digital wallet availability, with support for other states expected soon.
The fast-growing rate of crypto adoption in the United States provides a new avenue for Paysafe to add to its global consumer base. Residents of Alaska, Colorado, Kansas, Kentucky, Maryland, New Hampshire, South Dakota, Tennessee, Virginia, Vermont, and Wyoming will now be able to take advantage of the Skrill crypto wallet, which commenced in 2018 and already serves users in over 30 countries.
READ: DEAL: Kuda Bank raises $25 million Series A funding led by Valar Ventures
In his announcement, Lorenzo Pellegrino, CEO of Skrill, mentioned: “We’re delighted to better serve our customers’ needs by launching our Skrill crypto offering in the country in partnership with Coinbase. Powered by Coinbase’s sophisticated platform, our crypto offering is just Skrill’s latest US move to provide consumers with a best-in-class digital wallet.”
With this new white-label solution, Skrill’s US customers can use the digital wallet to instantly buy and sell cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
READ: Coinbase executes over $1 billion Crypto trades for world’s biggest clients
Head of Institutional Trading at Coinbase, Brett Tejpaul, commented: “As we focus on building the .crypto-economy, we look to partner with leaders like Skrill who can white-label our turnkey solution to provide and support digital assets to their clients.”
FAQs
Transferring bitcoin from Coinbase to Skrill is a relatively easy process. To do so, you will need to first create a Skrill account and then link it to your Coinbase account. After that, you can transfer the funds from Coinbase to your Skrill wallet.
Is Skrill good for cryptocurrency? ›
The Skrill app makes it simple for you to convert your crypto back into a fiat currency of your choice. You can also convert your funds to crypto with Skrill and send directly to a cryptocurrency address*.
Does Skrill support crypto withdrawal? ›
Skrill Crypto Withdraw is a secure hosted payment page, where you can redirect customers from your website to withdraw funds to a crypto address via Skrill.
What crypto asset service does Coinbase offer? ›
Coinbase offers a wide range of crypto asset services, including buying, selling, and storing a variety of cryptocurrencies. In addition, Coinbase also offers staking, which allows users to earn rewards by staking their cryptocurrency.
Which crypto wallet accepts Skrill? ›
SpectroCoin is an exchange and wallet provider that allows you to buy certain cryptocurrencies with Skrill including Bitcoin, Dash, Ethereum, XEM, Banker and Tether.
Does Skrill receive bitcoin? ›
Transferring bitcoin from Coinbase to Skrill is a relatively easy process. To do so, you will need to first create a Skrill account and then link it to your Coinbase account. After that, you can transfer the funds from Coinbase to your Skrill wallet.
Can I trust Skrill? ›
Skrill accounts are protected by two-factor authentication. Your account login, personal details and transaction details are secured using Secure Socket Layer (SSL) technology with high-security 128-bit encryption, certified by VeriSign.
Does Skrill need verification? ›
All members go through the same verification process by providing valid proof of their identity and address documents. If you are facing technical or other difficulties with the verification process, please contact our Help Team to assist you with it.
Is it easy to withdraw from Skrill? ›
Go to the Withdraw section of your Skrill account. Click Withdraw Now under Bank Account. Choose a bank account and click Next. If you haven't registered a bank account, click Add a Bank Account to submit your bank details.
Why can't I withdraw money from Skrill? ›
Skrill may restrict withdrawals if your account is not fully verified. — The withdrawal method you are using may have issues. Ensure that the withdrawal method you've selected is active and supported by Skrill. Additionally, check if there are any issues with the linked bank account or card.
Quarterly periods:
| Non-VIP | VIP |
|---|
| Daily ATM withdrawal limits for Skrill Visa® Prepaid Card | $1,000 | $1,000 |
| Monthly ATM withdrawal limits for Skrill Visa® Prepaid Card | $10,000 | $10,000 |
| Skrill Wallet FX rates | 3.99% | 3.99% |
| Skrill Visa® Prepaid Card FX rates | 0% | 0% |
4 more rowsLearn about crypto and get rewards
- Watch videos. We've created educational tutorials to teach you about different cryptocurrencies.
- Complete a quiz. After each tutorial you'll receive a simple quiz testing what you've learned.
- Earn. You'll receive crypto in Coinbase for every quiz you complete.
- Start today.
At Coinbase, we're committed to security by using industry best practices and storing up to 97% of bitcoins in encrypted, geographically separated, offline storage. To further protect our customers, all of the bitcoins stored in online computers are insured.
Should I take my crypto off Coinbase? ›
Coinbase has excellent security measures to ensure its users' funds are safe. However, we recommend moving your crypto assets off any exchange into a self-custodial hardware wallet.
What bank does Coinbase use for Direct Deposit? ›
You'll be able to see the Direct Deposit funds once your paycheck has been deposited and accepted by our bank partner, Pathward®, N.A. Note that this process can take 3-5 business days from the day that your paycheck was processed by your employer.
Why can't I withdraw from Coinbase? ›
Funds on hold
When you use a linked bank account (ACH) to buy crypto or add cash to your account balance, the funds are placed on hold and won't be immediately available to send or cash out. Think of this like depositing a check to your bank account and having to wait for it to clear before you can remove the funds.
Where to use Skrill? ›
Skrill is accepted by over 100 million merchants worldwide including eBay, PayPal, Amazon and many others, though its focus is the facilitation of gaming and online trading.
