Hi everyone,
With the new higher fees for Bitcoin, I'm looking at Skrill as an alternative as I'm outside the US. Mostly a question for those who use Skrill as a payment option where currency conversion applies.
This link states that a 3.99% conversion fee applies to currency conversion https://www.skrill.com/en/siteinformation/fees/#Currency-conversion
Chaturbate fee: Payment by Skrill (1.25% Processor Fee, $25 max)
Will this conversion fee apply on top of the chaturbate fee? Any knowledge or confirmation of this would be really appreciated as I'm trying to weigh up the cost of fee between Bitcoin & Skrill. I'll put what I know down in case anyone else wants to know or add to!
Let's do a value of $1000
Bitcoin:
0.0005 BTC Network Fee (current time of writing) 28.6 USD (20.61 GBP / 23.80 EUR) + your exchange/wallet fees whatever they may be.
So looking at around 971.4 USD... Not the worst ever all things considered.
Total Fee (at time of not including exchange fees): 28.6 USD / 20.60 GBP / 23.80 EUR
Skrill:
1.25% of value at $12.5 = $987.50
(Potential) currency conversion fee 3.99% of $987.5 = $39.4
Withdrawal fee: 6.63 USD / 4.77 GBP / 5.50 EUR
Total fees: 58.53 USD / 42.13 GBP / 48.69 EUR
Total fees without currency conversion: 19.13 USD / 13.78 GBP / 15.92 EUR
SO, and I am literally the worst person in the world for maths & fees! If I did this correctly the currency conversion fee is the killer here. Hopefully this may help someone out! Typing it out helped me for sure!
Just really want to know if that conversion fee will be applied, my guess is yes it will but I'm terrible at knowing these things!
@punker barbie would you know if that currency conversion fee would be applied? Thank you!
With the new higher fees for Bitcoin, I'm looking at Skrill as an alternative as I'm outside the US. Mostly a question for those who use Skrill as a payment option where currency conversion applies.
This link states that a 3.99% conversion fee applies to currency conversion https://www.skrill.com/en/siteinformation/fees/#Currency-conversion
Chaturbate fee: Payment by Skrill (1.25% Processor Fee, $25 max)
Will this conversion fee apply on top of the chaturbate fee? Any knowledge or confirmation of this would be really appreciated as I'm trying to weigh up the cost of fee between Bitcoin & Skrill. I'll put what I know down in case anyone else wants to know or add to!
Let's do a value of $1000
Bitcoin:
0.0005 BTC Network Fee (current time of writing) 28.6 USD (20.61 GBP / 23.80 EUR) + your exchange/wallet fees whatever they may be.
So looking at around 971.4 USD... Not the worst ever all things considered.
Total Fee (at time of not including exchange fees): 28.6 USD / 20.60 GBP / 23.80 EUR
Skrill:
1.25% of value at $12.5 = $987.50
(Potential) currency conversion fee 3.99% of $987.5 = $39.4
Withdrawal fee: 6.63 USD / 4.77 GBP / 5.50 EUR
Total fees: 58.53 USD / 42.13 GBP / 48.69 EUR
Total fees without currency conversion: 19.13 USD / 13.78 GBP / 15.92 EUR
SO, and I am literally the worst person in the world for maths & fees! If I did this correctly the currency conversion fee is the killer here. Hopefully this may help someone out! Typing it out helped me for sure!
Just really want to know if that conversion fee will be applied, my guess is yes it will but I'm terrible at knowing these things!
@punker barbie would you know if that currency conversion fee would be applied? Thank you!
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still the best option overall! Just have to watch out for any Bitcoin crashes lol
