Popular Online Payments Operator Introduces Cryptocurrency Wallet

Online payments operator Skrill has announced a new product its customers can take advantage of — the Skrill Wallet. 

More Ways to Buy and Sell Cryptocurrencies

Skrill, formerly known as Moneybookers, has marked its first foray into the field of cryptocurrencies. The company announced July 25 that it has launched a new product which allows its users to buy and sell digital currencies.

The Skrill wallet, as the new service is dubbed, allows users to buy and sell bitcoin, ether, litecoin, and bitcoin cash. Users can do so by using more than 40 different fiat currencies.

The new service was launched in more than 30 countries, including the UAE, the UK, Australia, and Canada. Nevertheless, the United States and Russia are among the key markets which have yet to be included.

Limited Capabilities

While Skrill has made a name for itself by offering transactions focused on sports betting, poker, and casino rooms, its new cryptocurrency wallet won’t provide options of the kind. In fact, for the time being, users can only purchase and sell cryptocurrencies — they won’t be able to transfer their holdings to other users or transact with them in any other ways. Supposedly, these features will come in the future.

Skrill’s CEO, Lorenzo Pellegrino — who’s also the CEO of NETELLER and Income Access — holds that the new service will make the buying and selling of cryptocurrencies a lot easier for the regular user, stating:

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. We know many people want to experiment with cryptocurrency trading but don’t know where to start and we’ve made the entire process very straightforward.

The news comes shortly after Coinbase announced that it would allow users to spend their cryptocurrencies on e-gift cards, which could then be used for payments to various popular merchants like Uber and Nike — providing yet another point of access to the cryptocurrency field.

What do you think of the new Skrill Wallet? Let us know in the comments below! 

Images courtesy of Shutterstock.

Source: Bitcoinist

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Litecoin is similar to Bitcoin, and in some ways a direct competitor. Like Bitcoin, Litecoin exists as a blockchain where participating nodes process transactions, and miners provide security and verification for each of those transactions. Litecoin was originally conceived and developed by Charlie Lee in 2011. For a period of time, Charlie was a Director of Engineering at Coinbase, having joined our team in 2013. Since its launch in 2011 Litecoin has seen steady adoption with an active community of traders, merchants, and developers. We believe Litecoin is here to stay and will continue to play an important role in cryptocurrency and digital asset development.
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