Skrill has rolled out a new crypto-to-crypto trading feature, allowing users to use the bitcoin (BTC) held in their wallets to buy and sell eight other supported cryptocurrencies, including bitcoin cash (BCH). The update expands the digital asset functionality inside the company’s app and removes the need for users to first convert crypto back into fiat before making another trade.
For users of digital wallets and payment apps, in-app coin swaps can simplify portfolio changes and potentially reduce the number of separate transactions required to move between assets. In Skrill’s case, the new option builds on the crypto services it had already introduced earlier, when it began allowing users to buy, hold, and sell cryptocurrencies directly through its platform.
A Traditional Payments Brand Expands Its Crypto Offering
Skrill, formerly known as Moneybookers, is a well-known online payments provider in Europe. The service is used for payments with roughly 15,000 merchants and also supports international money transfers. Over the past several years, established payment companies have gradually become more open to digital assets, and Skrill is one of the firms that has moved in that direction.
The company announced the feature through its official channels, describing it as a way for users to use their BTC balance to buy and sell the other cryptocurrencies available on the platform. That means existing bitcoin holders inside the Skrill ecosystem can now rotate into other listed assets without relying on a separate exchange workflow involving fiat conversion.
This matters because moving from one crypto asset to another often involves multiple steps on traditional platforms: selling one coin for fiat, then using the fiat proceeds to buy another. By introducing a direct swap-like function inside the app, Skrill is streamlining that process for its users.
Supported Assets and App Availability
Skrill’s mobile app is available on both Android and iOS. According to the source material, the platform lets users purchase crypto through more than 100 payment methods and supports conversion from 40 different fiat currencies into a selection of digital assets.
The list of supported cryptocurrencies mentioned in the report includes BTC, BCH, EOS, ETH, ETC, LTC, XLM, XRP, and ZRX. With the new crypto-to-crypto feature, users holding bitcoin on Skrill can now more easily move into these other assets from within the same environment.
That broader support reflects Skrill’s attempt to position itself not just as a payment wallet with limited crypto exposure, but as a more flexible platform for users who want access to multiple digital assets alongside conventional money transfer services.
Account Setup and Verification Requirements
To use the service, customers need to create an account and provide basic information such as their name, country of residence, local fiat currency, and a valid email address. As a regulated financial business, Skrill applies security controls and identity checks as part of its compliance framework.
However, the company’s website stated that buying cryptocurrency does not require additional verification. That point may be relevant for users comparing onboarding friction across payment platforms and crypto services, especially in jurisdictions where extra compliance checks can slow access to trading functions.
Even so, the existence of standard account procedures means Skrill continues to operate within a regulated framework rather than offering an unrestricted crypto experience. The appeal here is convenience inside a familiar payments interface, not a fully decentralized trading environment.
Fees Remain a Central Consideration
While the addition of crypto-to-crypto functionality improves convenience, Skrill’s fee structure remains an important part of the user experience. The report outlines a tiered schedule for crypto purchase and sale transactions.
For trades of up to €19.99, the fee is €0.99. Transactions ranging from €20 to €99.99 incur a charge of €1.99. For trades above €100, Skrill charges a 1.50% commission. In addition, peer-to-peer trades are subject to a flat 0.50% fee for transactions denominated in euros, U.S. dollars, or other currencies.
The article also notes withdrawal costs. Transfers to a local bank account or through global Swift transfers are charged €5.50, while withdrawals to a Visa card account carry a much higher fee of 7.50%.
These figures indicate that although the platform is becoming more flexible for crypto users, trading and cash-out costs can still materially affect the economics of smaller transactions. For retail users, convenience may come at the expense of paying more than they would on lower-cost specialist exchanges.
Planned Fee Changes Were Also Highlighted
The source further points to fee changes scheduled to take effect on January 15, 2020. Under those changes, the upload funds fee for users in non-EEA countries would rise to 2.50%. Before that adjustment, the regular upload fee for local and global payment methods, including BTC, was listed at 1.00%.
In addition, the domestic transactions fee was set to become 2% per transaction, while the currency conversion fee could reach as high as 3.99% per transaction. These details are significant because they show that even as Skrill broadened crypto access, pricing remained a moving target and an essential factor for users evaluating the platform.
Regulated Status and Group Structure
Skrill and the better-known e-money service Neteller are both part of the London-headquartered Paysafe Group. Skrill Limited, the operator behind the service, is registered as a money service business and is regulated by the UK Financial Conduct Authority (FCA). It is also licensed to operate within the European Economic Area (EEA).
That regulatory status helps explain both the appeal and the limitations of the platform. On the one hand, users may view a regulated, established brand as more accessible and trustworthy than a standalone crypto exchange. On the other, regulatory compliance, account controls, and fee schedules are built into the model.
What the Feature Means for Users
The launch of direct crypto-to-crypto functionality marks a practical expansion of Skrill’s digital asset offering. For users already holding BTC on the platform, the ability to move into BCH and seven other supported cryptocurrencies within the same app can reduce friction and simplify execution.
More broadly, the update reflects a trend in which mainstream payment companies incorporate crypto tools not as a separate specialist service, but as another feature within a broader financial app. Skrill’s move does not transform it into a full-scale exchange, but it does make the platform more useful for customers who want exposure to several digital assets without leaving the payments ecosystem they already use.
Still, the overall value proposition depends on user priorities. Those who favor simplicity, app-based access, and integration with conventional payments may see the new feature as a meaningful improvement. Those more focused on minimizing fees or seeking a wider range of tokens may continue to compare Skrill against dedicated crypto trading venues.
In short, Skrill’s latest update strengthens its position as a hybrid payments-and-crypto platform: regulated, accessible, and increasingly versatile, but still defined by the cost structure and operating rules of a mainstream financial service.