Neteller Rolls Out Crypto Exchange Service

Neteller users can now buy and sell digital currencies straight from their wallets.

Leading online money transfer service and digital wallet provider Neteller has allowed its crypto wallet users to buy and sell virtual currencies directly from the wallet. According to an October 19 press release issued by mother company Paysafe, the company states:

“As of today, NETELLER users can buy, hold and sell cryptocurrencies via a recognised cryptocurrency exchange including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin, purchased using any one of 28 fiat currencies available in the NETELLER wallet.”

This is a more convenient way for e-wallet users to buy and sell digital currencies. Customers no longer need to open an account on a crypto exchange while existing ones do not have to go through additional verification processes.

E-wallet users can purchase Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. At the same time, customers will be able to pay with any of the 28 supported fiat currencies and 100 alternative deposit methods. This feature has been allowed by activating with a still to be “recognized cryptocurrency exchange.”

In a Twitter post, Paysafe says:

Today, @NETELLER has launched its in-wallet buy and sell #crypto feature, enabling users to buy, hold and sell cryptocurrencies including #Bitcoin, #Ethereum, and Litecoin using 28 fiat currencies. Find out more here:

— Paysafe (@PlugIntoPaysafe) October 19, 2018

Meanwhile, another service owned by Paysafe, the Skrill, has previously incorporated the feature in July, a move which proved to be well received by its customers.

Skrill, Neteller, and Income Access CEO Lorenzo Pellegrino states:

“The large amount of investment in technology and overall innovation in cryptocurrency has led to the rapid evolution of this space. As cryptocurrencies are increasingly embraced by businesses and consumers alike, this is an industry where we continue to strengthen our presence.”

Pellegrino further says:

“As digital finance leaders, we believe we can play a significant role here and create value for both the industry and consumers. Connecting the dots between cryptocurrencies and traditional money in an efficient and user-friendly way is needed for cryptocurrencies to gain real traction amongst consumers. At Paysafe, we are in a great position to facilitate that through our leading digital wallets and other payment products.”

Users, who want to purchase any of the supported digital wallets, must first log into their own Neteller account, then choose the “Crypto” option. Customers may complete their transaction by indicating the exact amount of the digital currency they want to purchase.

Users will be charged 1.5 percent for the Buy and Sell orders if they are using Euro or U.S. Dollars. For other currencies, the transaction fee is 3 percent.

The new feature is now available in ten countries. The company aims to make the service available in 50 more countries in the coming months. Even though the feature is presently available only on its web app, the company states that the feature will soon be added to the Neteller mobile app as well.

The support of popular e-wallet providers like Skrill and Neteller makes cryptocurrency trading more accessible and convenient for crypto wallet users, which is good for the industry.