Neteller Gets Into Cryptocurrencies

An online fiat wallet provider has launched its Cryptocurrency exchange. Neteller users can now purchase, sell, and store virtual currencies such as Litecoin, Ethereum Classic, Ethereum, Bitcoin Cash, and Bitcoin on the platform. The company has joined Skrill, which recently launched a similar program on July 25.

Nettler To Make Cryptocurrencies More Accessible

Neteller has become the latest company to add the virtual currencies after the company announced the launch of its exchange on Friday. Although the firm is present in more than 200 countries, the program has only gone live in 10 countries with plans to include another 50 plus in the future. The new feature will allow users to purchase, sell, and hold various digital assets like LTC, ETC, ETH, BCH, and BTC on the platform.

On its website, the company stated that the Cryptocurrencies can be bought in 28 fiat currencies supported by the provider. However, the firm said it will add more currencies in the new future. No additional verification will be required for the registered users. Some of the fiat currencies currently supported include Mexican pesos (MXN), U.S. dollars, British pound, and Russian rubles among others.

Using Neteller For Crypto Trading

Neteller is optimistic that it is in the capacity to compete with well-established Cryptocurrency exchanges. The company said its rates are competitive and it is hopeful that this will be the driving force behind its success. When buying and selling virtual currencies using EUR or USD, the company will charge 1.5 percent. A 3 percent charge will apply when purchasing and selling the coins in the other default fiat currencies.

The company has also said the minimum amount that can be used to buy or sell the virtual currencies is around 10 EUR. This will make it possible for more people to get into the Cryptocurrencies, especially those who want to test how it works. The firm has not given the maximum stating that such an amount will depend on different accounts.

Neteller allows its users to fund their accounts via local bank deposits, Paysafecard, Epay, and Pay by Mobile. Bitcoin is another funding method supported on this platform. The company also works with online banks such as Nordea, Itau, HSBC, and Banco do Brasil, allowing users to top up their accounts through such banks.

Who Is Neteller

Neteller is a company that allows millions of users around the world to send and receive money in their local currencies. The company is run by Paysafe Financial Services Ltd., which was established in 1999 by Paysafe Group Limited. The company provides alternative payments methods through the internet. Paysafe Group operates under the U.K. Financial Conduct Authority (FCA). Neteller users have no difficulty in withdrawing or spending their money as the company has various online locations, ATMs, and point-of-sale to facilitate these transactions.

The recent move by Neteller to get into Cryptocurrencies is expected to have a significant impact on the entire market as the company has a large customer base and is present in many countries. The company has joined Skrill, another fiat currency provider owned by Paysafe to get into the virtual currencies. The entrance of more firms and people into the Crypto sector is expected to boost its growth by making the market more accessible.