- Mar 22, 2013
- 9,150
- 10,490
What's the most painless and fee-free way of turning my Skrill USD into Cardano?
Buy Cardano with Skrill?
- Thread starter Scorpion Ghost
- Start date
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 715
I don't use Skrill but it seems they have the option to buy cryptos. Buy any crypto they have (pick one where network fees are low, like DOGE or Tron or whatever else is available), then withdraw to Binance and exchange to Cardano. An extra step may be required on Binance if the pair is not supported, then you should convert to BNB or BTC or USDT(or BUSD or other variant lol) first and only then to buy ADA.
- Mar 22, 2013
- 9,150
- 10,490
I was pretty sure Skrill had the "gaypal model" of crypto. You can have crypto in your account, but you can't withdraw it to an external wallet or exchanger, fuck you.
But I just did a google search, and:
For the first time, Skrill customers are able to instantly convert and withdraw their fiat balance to an external cryptocurrency wallet by entering an address. The feature can be accessed when a customer goes to withdraw funds in their account and selects 'Crypto Wallet'.
https://www.finextra.com/pressarticle/86288/skrill-debuts-fiat-to-crypto-withdrawal-service
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 715
I don't even know why would you use Skrill, that thing was made a million years ago to compete with PayPal and failed. I thought they closed, but apparently it's you who keeps them running. Stop paying them fees lol
shiboshy
Elite Member
- Dec 17, 2011
- 4,607
- 2,308
There is no PayPal in most Eastern European countries so people use Skrill. You would be actually surprised how many people use it. + It's gambling friendly and people in Eastern Europe love to gamble.
OP you can use Binance and exchange USDT to ADA.
Beware ADA jumped a lot, so if there is a dip it can go as low as $0.50 easily, not the best time to buy. Unless you hold it for 5 years where the real potential is - $10
- Mar 22, 2013
- 9,150
- 10,490
I believe in diversification, especially when it comes to payment processors. I use as many of them as my head can handle
The money in my skrill acc is not money I deposited or anything, it's payments for customers over the last 2 years or so.
Skrill, Perfectmoney, Bank transfer, Toilet paper, toothbrushes, toothpicks, full frontal nudity - I'll take any form of payment, as long as it's valuable
- Mar 22, 2013
- 9,150
- 10,490
That's the plan. Buy for $300, hold in forever.
If it goes to $10 I got $3.000, if it goes to $100 I have $30,000, and so on and so forth.
Plus I heard someone mention in a video something about staking, and if you do it you can get more Cardano just by having your Cardano be part of the staking thing. Anyway I gotta look into that, but since I'm not gonna trade with it, I'll probably do the staking thing, assuming there is no risk for me losing my Cardano, and assuming I can actually make some profit doing it.
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Back to the point...
Can I deposit money in Binance with Skrill though?
shiboshy
Elite Member
- Dec 17, 2011
- 4,607
- 2,308
No you can't. You can withdraw to your bank and do a bank deposit though or find a local to exchange (available on binance). LocalBitcoins also has that option, and maybe someone offers Skrill to USDT on LocalBitcoins, pretty sure a lot of exchangers are there in your country - you buy USDT then convert to ADA.
ADA gives a lot for staking, but exchanges (Coinbase, Binance) and wallets like Atomic and Exodus take a cut of your staking.
You should use the official Cardano wallet by the Cardano foundation, to save these from stealing your staked rewards:
https://daedaluswallet.io/
Make sure you verify the download though and use linux. Good luck and that's a plan!