Converting Neteller/Skrill to BTC?

[jerry0]

So I have some funds in neteller.  I noticed a while back, neteller and skrill which seem to be owned by same company now allow you to buy or sell neteller/skrill for btc and vice versa.  Also could do that with few other altcoins as well.  I do see there is a daily limit for each transaction.


Does anyone know if there is a weekly or monthly limit?  Such as how much neteller/skrill can you convert to btc each day, or week or month etc?


Anyone who done this have any opinions?

[1714561360]

1714561360

[1714561360]

1714561360

[1714561360]

1714561360

[famososMuertos]

I was a user but nothing to do with it today. There are so many alternatives to leave these two companies behind that just mentioning them proves to be very uninformed, but the reality is that because they are two of the oldest ewallets that exist, they are kept alive by the old commercial relationships that still exist in the Fiat model.

https://www.skrill.com/en/siteinformation/fees/#buy-and-sell-cryptocurrency

In the same way, it is best to go to the FAQ and you get the answer or on the same page when using it, a message should appear.

Skrill and Neteller continue to exist due to misinformation from companies and ordinary people as to what bitcoin offers as the real best alternative.

[jerry0]

Yea i know.  But i wanted to know what are the max limits per day/week/month.  Such as does it depend on someones user vip level?


Im only silver level so im curious but the max amount you can convert... if you could do that each day or if there is a weekly or monthly limit.

[RickDeckard]

In their FAQ page[1] regarding this service they do not give you a clear answer regarding your question OP:

What's the minimum and maximum amount of cryptocurrency I can buy or sell?

The exact minimum amount depends on the relevant cryptocurrency but will be approximately equal to 10 EUR. Maximum amount depends on the transaction limits associated with your account.

So I set out to see if they would specify this "risk profile" a bit more in the cryptocurrency terms of use[2] but I also hit a wall there. Here's the relevant quote (Section 12, subsection 12.3 and 12.4):

12.3 We may apply limits to the number or value of Cryptocurrency Transactions or P2P Transfers you are able to undertake (e.g. limiting the amount of the interest in Supported Cryptocurrency you are able to buy or transfer in a single transaction) if we reasonably think it would help to manage any risk in a proportionate way.

12.4 Any limits as described in subsection 12.3 above will be communicated to you within your Skrill Account while using the Instant Buy/Sell service prior to any proposed transaction being confirmed by you.

Also note that Skrill doesn't include miner fees in their fees showed previously and will most likely also make you pay a higher fee (such as Coinbase and others) just to milk you even more for profit:

17.7  For Withdraw to Crypto, in addition to the fees payable to Skrill, we may also charge a network fee (also known as the ‘mining fee’) which will be deducted from your total withdrawal amount. The network fee is not a Skrill fee and is paid to miners in order to facilitate your transaction on the blockchain network. We will calculate the network fee based on current market conditions and will notify you of the amount before you confirm the transaction.

[1]https://www.skrill.com/en/skrill-cryptocurrency/
[2]https://www.skrill.com/en/footer/terms-conditions/skrill-cryptocurrency-terms-of-use/

[Stedsm]

I don't know much about Neteller, but I've personally used Skrill and would warn you against their cheap tactics at charging you very high fees whole you transact there. It's better to find a forex site, use Neteller/Skrill to deposit there, then deposit through Bitcoins and then withdraw all using BTC. You must first ask and confirm this with their customer support whether they allow withdrawals in crypto or not? If they do, do they allow complete withdrawal of whatever is available on your account or you will only get it proportional to your deposit types.

And I guess your thread belongs to "Exchanges" section.

[Slow death]

i used neteller and skril in the past and they didn't allow people to withdraw bitcoin from the skrill account to the bank, well it was in the past, maybe now they allow people to withdraw bitcoin from skrill to the bank, but in the past the limit was $5000 to $10,000 monthly, maybe now the limit is higher. my skrill account was verified account.

ask support what is your limit

[coupable]

So I have some funds in neteller.  I noticed a while back, neteller and skrill which seem to be owned by same company now allow you to buy or sell neteller/skrill for btc and vice versa.  Also could do that with few other altcoins as well.  I do see there is a daily limit for each transaction.


Does anyone know if there is a weekly or monthly limit?  Such as how much neteller/skrill can you convert to btc each day, or week or month etc?


Anyone who done this have any opinions?

I can well understand your concerns, but why not choose better alternatives? I use Neteller and Skrill since years and i worked as local btc trader. So why not looking for local sellers. I guess many of them accept neteller/skrill as paiement. However, if you are willing to buy considerable amounts of bitcoin, then better to follow advices in above comments.

If you can subscribe to localbitcoins or paxful, i am pretty sure that you will find neteller/skrill offers that matche your needs .

[jerry0]

Well I have neteller/skrill funds that I would like to convert to btc.


The thing is im abroad though... and the only bank account i have is an american bank account.  Thus I want to turn the neteller/skrill into btc.  Then once i have btc, i could then use coinbase/gemini to sell it to my us bank account.


I cannot send these neteller/skrill funds to my US bank account since its not allowed.  I know for europeans that is how you do it.  I do trade my neteller/skrill with other people for zelle/boa but most of the time they don't need it.  And since neteller/skrill allows you to trade for btc, i thought that would be good since i could get btc.  So i wanted to know the limits for neteller/skrill.

[GbitG]

Well I have neteller/skrill funds that I would like to convert to btc.


The thing is im abroad though... and the only bank account i have is an american bank account.  Thus I want to turn the neteller/skrill into btc.  Then once i have btc, i could then use coinbase/gemini to sell it to my us bank account.


I cannot send these neteller/skrill funds to my US bank account since its not allowed.  I know for europeans that is how you do it.  I do trade my neteller/skrill with other people for zelle/boa but most of the time they don't need it.  And since neteller/skrill allows you to trade for btc, i thought that would be good since i could get btc.  So i wanted to know the limits for neteller/skrill.

You are repeating your question again and again, but surely you will not have any positive reply about this because most of the members don't know about these limits your best option is just sent a support ticket to them, they will give you all details about your daily/weekly/ monthly limits then you can exchange them.
Second option is just gone to Currency Exchange section and do your exchange without any limit, but for this please use escrow and take all required measurements for this because sometimes we have difficult time with these all exchanges.

[jerry0]

Okay so if you buy btc for neteller/skrill or vice versa, the btc stays in your neteller account?  I am taking a look at the site and i'm confused by this.  So you cannot send the btc to your own hardware wallet or another exchange?


Surely that is not true or i'm reading this incorrectly?

[GbitG]

Okay so if you buy btc for neteller/skrill or vice versa, the btc stays in your neteller account?  I am taking a look at the site and i'm confused by this.  So you cannot send the btc to your own hardware wallet or another exchange?


Surely that is not true or i'm reading this incorrectly?

Today I was checking my account, but sadly I have no option for buying/selling cryptocurrency mean it's not for all countries they have this feature for very few countries or having any special requirement for this just because of this I send a ticket to support now waiting for reply hopefully as I have some update I will give you details about this all until you have to search by yourself for this all or try to send ticket for all details if its also not work then there have feature with FAQ please check this also hopefully this will work for you to understand this all.

I read somewhere they have withdrawal option but not sure about this, if you are unable to have any better view about this then try through twitter also because they are active on this site for some time.

[noorman0]

-snip-
So you cannot send the btc to your own hardware wallet or another exchange?

What I understand, you can't do it based on their terms of service.

12.1 You may only use your e-money balance in your NETELLER Account or, in the case of a Crypto to Crypto Transaction the interests in your Cryptocurrency Account, to buy and sell interests in Supported Cryptocurrencies. You may not use your NETELLER Account or Cryptocurrency Account to buy interests via any cryptocurrency exchange that we do not partner with.

And also strengthened by this terms

12.2.3 transfer any interest in Supported Cryptocurrency held with a third party (e.g. in a cryptocurrency wallet you may hold with another provider) into your Cryptocurrency Account; or
12.2.4 transfer any interest in Supported Cryptocurrency from your Cryptocurrency Account to any other account (e.g. a cryptocurrency wallet you may hold with another provider).

Don't know how their service works yet, because they also charge mining fees, which means you should be allowed to send to any wallet. My assumption is that they don't collect funds in a central wallet and they actually send bitcoins to their partnered merchants onchain behind the scenes.

https://www.neteller.com/en/policies/cryptocurrency-terms-of-use

[jerry0]

So what would be the purpose of buying/selling btc then on neteller/skrill?  Makes no sense if you can't send it to your own wallet etc.

[cashfairy]

So what would be the purpose of buying/selling btc then on neteller/skrill?  Makes no sense if you can't send it to your own wallet etc.

it has purpose of trading for difference
i know it can be confusing because they represent it as "buy crypto"

but ... they have (it is suspended for now in my location) one real function for BTC
it is uploading funds with BTC what is inherently a sale. i.e. you send BTC to Skrill or Neteller and they convert it to fiat via 3-d party(BitPay)

[jerry0]

So I have access to neteller at the moment.  I do see option to buy/sell crypto in neteller.  But I cannot send the crypto I buy to my own btc address?


I heard some countries do allow you to withdraw the crypto to your own wallet.  But I can't do this?  Does anyone have the full list of countries where you could actually withdraw crypto to your own wallet?  Otherwise this would be useless as it would be similar to like paypal.

[jerry0]

I found out that I cannot withdraw any btc from neteller to my own crypto wallet.  Neteller support tells me the country that I'm located in and thus registered with... does not allow this option.  I think very few countries allow this option as I read online, its not many countries that support it.  Basically you can buy btc with neteller funds... but the issue is you cannot withdraw the btc to your own crypto wallet... which makes it pointless.



Does anyone have any other options?  The only one seems to be paybis?  But when you factor in the fees... its around 8% total?  That is a lot of fee to pay to convert neteller usd funds to btc.  Certainly there has to be places that allow you to convert for less?  This makes zero sense why it cost this much to convert neteller to btc?



Is there any other options?  Again I'm an American that relocated outside the US years ago and thus have a non US neteller registered account for years that I been using for mainly depositing/withdrawing into gambling sites.  I cannot use binance because I'm an American.  So what options do I have here?  Again I have neteller USD and want to swap it for either boa/zelle or crypto.  I would prefer crypto more.  Now if I could withdraw crypto from neteller, then this would be very simple but I cannot.



Anyone have any options here?



Normally I swap my neteller funds for boa/zelle funds with no fee.

[jerry0]

Anyone have any other options here?  I want to convert my neteller USD gambling funds into crypto.