Skrill is used as online money transfer platform by millions of users across the world. The ease of use and lower commissions compared to other online money transfer platforms, has led to increased acceptance of Skrill. The platform offers unmatched support for trading and transfers in cryptocurrencies. With increase in trading activity among cryptocurrencies other than Bitcoin, like Ethereum, Litecoin, Ripple, NEO and IOTA, the usage of apps for inter-currency transfers has increased manifold in the recent years.
Skrill VIP offers many benefits for users of the platform including higher bank transfer limits and faster processing of transactions. Skrill VIP Silver and higher levels can use multi-currency options as well. The transaction fees are lower for users with VIP status on Skrill. Users on Skrill VIP also receive reliable 24/7 support. Skrill VIP provides free Mastercard and lower ATM fees. Gold members also receive dedicated personal account manager for quick resolution of any issues. The account balance can be used online and anywhere MasterCard is accepted.
While Bitcoin faced a massive decline after the most popular cryptocurrency touched $19,783 in January 2017, it has seen an increase in valuation after COVID-19 pandemic in March 2020. With increase in valuation of Bitcoin and other cryptocurrencies in the recent months, the need for platforms like Skrill India VIP has increased even further.
For cryptocurrency transactions, Skrill VIP account status can be gained by transacting €6,000 (or equivalent amount in other currencies) within a quarter. For any quarter that a user crosses the limit of 6,000 Euros, the account will retain Skrill VIP up to the next quarter.
However, Skrill VIP accounts are available in select countries at the moment. Skrill VIP program offers four levels namely Bronze, Silver, Gold and Diamond. For Bronze, the transactions should be above Euro 6000 per quarter. Skrill Silver VIP account status holders must transact above Euro 15,000 in a quarter. For Gold and Diamond status, the transactions should be above Euro 45,000 and Euro 90,000 per quarter respectively.
For Skrill Silver and higher account status, sending money is free and there are no bank withdrawal charges. Forex fees can be as low as 1.99 percent for Diamond account holders. For all Skrill VIP account holders, the BUY / SELL fee for cryptocurrency is 1.5 percent in case the account currency is USD or Euro. For other wallet currencies, the fee is 3 percent for trading in cryptocurrencies.
There are many other options to transfer money online but Skrill has better support and lower fees. The fees are even better in case of higher usage. In the recent times, Skrill has been gaining market share as it has wonderful support of cryptocurrency trading.
Many other apps like TransferWise and Revolut are also available but TransferWise doesn’t support cryptocurrencies. On Revolut, the fees for cryptocurrency trading is higher and Skrill VIP. In the recent years, the usage of ewallets, money transfer apps have increased at a much higher pace, mainly due to hefty charges levied by traditional banks. Popular apps like TransferWise also offer fee withdrawal up to Euro 200 per month to users at any ATMs. And, their cards are accepted at all the locations where credit or debit cards are accepted.
The fin-tech segment has witnessed a revolution in the recent years and with better use of security features and technology, these financial services apps are making life easier for users.