Since its early days, Bitcoin has become a viable payment method for users all over the world. Today, the popular cryptocurrency is not only used to exchange value across the web but is also a great long-term investment.
However, even though people know that Bitcoin is valuable, many do not understand what it is or how it works.
How does Bitcoin work?
Basically, Bitcoin is a virtual currency that solves the problems many people face today, when dealing with traditional money. More specifically, here is what we mean by that
- Bitcoin is not controlled by anyone. In comparison to traditional money, there is no central authority that prints money on demand. Instead, Bitcoin is minted by the crowd that uses it. In addition to that, no one can mislead, change or reverse transactions made with Bitcoin. The only person responsible for their Bitcoin is the person who owns them.
- Bitcoin is anonymous. All users of the network can to access the ledger and see the details of each Bitcoin transaction, including the amounts sent and the participating wallets. However, each wallet is represented by a series of random letters and numbers, which allows their owners to remain anonymous.
- Bitcoin can be used worldwide. You can send Bitcoin to anyone around the world within a few seconds at any time of the day or week, including weekends and public holidays. And, as if that was not enough, transactions made with Bitcoin are cheaper than any other money order made on the web.
- Finally, Bitcoin has a very limited supply because it is capped at 21 million coins. With a steady increase in demand and a fixed supply, the value of each coin has seen a huge growth over time, making it an excellent investment opportunity.
What is Skrill?
Aside from Bitcoin, there are many other payment systems that allow users to send and receive money online. Most of these services provide users with virtual wallets, which they can use to store, send and receive funds, making them a great alternative to traditional online banking.
From all the payment systems available, a UK-based company called Skrill has grown in popularity, becoming one of the most well-known options for online money transfers.
Formerly known as Moneybookers, Skrill relabeled in 2013, which helped the company grow its user base and improve its offer. Today, the service provides low-cost internet transactions to both consumers and merchants from all over the world.
Because of its popularity, many people are now wondering how they can use Skrill to buy and sell Bitcoin. Thankfully, there are many ways to buy Bitcoin with Skrill, and the steps you need to follow are fairly easy.
Create a Bitcoin wallet
For starters, all Bitcoin transactions require a Bitcoin wallet. So, if you haven’t got a wallet yet, now is the time to create one.
There are four main categories of Bitcoin wallets, and your choice will highly depend on your preference and the amount you are looking to invest.
For small amounts, the best option would be to create an online wallet. These wallets are the easiest to set up and get a hold of. After you create an account, you will be able to access it from any device that has an internet connection. However, even though these wallets are practical and convenient in their use, they do need more layers of security, as they are often a target for cyber criminals.
If you prefer a somewhat safer option, you may want to downloading a desktop wallet. All you need to do is install it on a device of your preference, set it up and use it to store your coins. If you choose this option, make sure to properly care for your computer, as any damage done to it may affect the safety of your Bitcoin.
If you are looking to invest a large amount of money, it’s best to choose a wallet that offers maximum protection of your coins. In cases like these, hardware wallets are your best bet. These small devices are quite expensive, ranging anywhere from $70 to $200, but their security features make up for it. Because of their physical nature and the manual authorization required for each transaction, they are practically unhackable. Apart from that, most hardware wallets can store a large number of coins, ensuring that your complete portfolio is in safe hands.
Finally, aside from the three options described above, there is one more wallet option that has often been described as the safest of them all: a paper wallet. These Bitcoin wallets are nothing more than a printed sheet of paper that contains your wallet’s public address and private key. All you need to do is send money to your public address and access your funds using your private key.
After you choose a wallet that suits your needs, it’s time to buy Bitcoin with Skrill. To do so, you will have to find a cryptocurrency exchange that supports Skrill to Bitcoin transactions.
Where to exchange Skrill to Bitcoin (BTC)
A cryptocurrency exchange is an website that allows users to buy and sell cryptocurrencies for other assets, such as traditional money or other digital currencies.
While there are many available options, it is best to find an exchange that has a satisfied customer base, an interface that is easy to use, and a strong support team.
Use Paybis to buy Bitcoin (BTC) with Skrill
At Paybis, we know first-hand how important it is to find the right place for your Bitcoin purchases. Our exchange offers everything you need to make this and every following order a success.
- To start off, Paybis is designed to make each transaction easy, even for complete beginners.
- All users who buy Bitcoin with Skrill need to go through a process that is used to verify their identity. This step, from start to finish, takes no longer than five minutes to complete and allows you to complete all your future purchases in less than five minutes.
- We are well-known for our personal approach to each and every one of our users. Our support team stands ready at all times to help you with questions or doubts. Feel free to check out all the positive reviews we have received on Trustpilot, where we maintain an excellent for our continuous efforts.
So, let’s see how making an order looks like in practise.
How to buy Bitcoin with Skrill
Follow the steps below to get started.
Step 1: Go to Paybis.com and start a Skrill to Bitcoin transaction.
Step 2: Enter the amount you want to spend using Skrill and provide your Bitcoin wallet address so we can deliver your coins.
Step 3: You will now be asked to verify your ID. Go through the process and provide the necessary information to continue.
Step 4: Once that is done, complete your payment.
Step 5: Within minutes, we will send the Bitcoin to your wallet.
If you’d like to get a better idea of how this process works, you can check the detailed steps in the section below.
If you still have questions after that, feel free to contact our support team. Our agents, who speak many different languages, stand ready during all times to help you out
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Select ‘Skrill’ on the left-hand side and "Bitcoin (BTC)" on the right of the Paybis home page.
Enter the following data into the form:
You will land on Transaction Details page. Make sure to:
Once you are redirected to payment page, you will need to:
Once your Skrill payment is processed, your order is complete!
