One useful feature of NETELLER is that it allows you to buy and sell cryptocurrency. Cryptocurrency is an internet-based form of currency that fluctuates in value. Many people choose to trade various forms of cryptocurrency; they buy when the prices are low and sell once the value has risen. This buy/sell process gives you an opportunity to make the most out of your funds. In this guide, we will show you how to buy and sell crypto on NETELLER.
How to Buy Cryptocurrencies on NETELLER
If you want to buy crypto on NETELLER, it doesn’t have to be a confusing process. We will walk you through the steps you need to take in order to buy crypto.
First, you need to login to your account. Next, click the Crypto tab listed on your account page. Input the exact amount of money that you are wanting to exchange, and then choose the type of cryptocurrency that you desire the amount to be converted from (or to). After making your selection, you will see a message pop up, giving the fee for processing and any other relevant info you could need about the transaction. Finally, give the Complete button a click.
And there you have it; your crypto transaction is complete! Once it has processed, you will be directed to a summary page that gives details about the transaction you just made. Your crypto’s current balance will appear in your account in just a few seconds.
If you want to check your crypto balance at any point, just turn your gaze towards the upper left-hand side of your dashboard and look for the Available balance section. Click the arrow there, and it will tell you how much crypto you currently have.
Which Cryptocurrencies Are Available for Buying
NETELLER has 9 official cryptocurrencies available for buying and selling:
Cryptocurrency Limits on NETELLER
NETELLER does have minimum deposit limits for cryptocurrency, but it depends on the type of crypto you are trying to upload. All you have to do to check your chosen crypto’s minimum limit is to go to your NETELLER account’s Deposit tab. You will be able to see the figure there – typically, it should be around 10 EUR.
On the other hand, your crypto’s maximum transaction is dependent on your NETELLER account capabilities, rather than the individual cryptocurrency. `
Cryptocurrency Transaction Fees on NETELLER
Crypto fees on NETELLER are dependent on what currency your account is set to; if you are set up with EUR or USD, then crypto buy/sell fees are set at 1.5%. If your account is set to any other type of currency, then your crypto buy/sell fees will be 3%.
Keep in mind that all transactions in NETELLER are automatically in euro. So, if your wallet uses a different kind of currency, there will first be a conversion fee ranging from 1.99% to 3.99%, depending on the current status of your wallet.
Pros and Cons of NETELLER Crypto
So, what are the advantages and disadvantages when you buy and sell NETELLER crypto? The high points include the easy and quick transaction, the fact that you can take advantage of the exchange market to make a profit, and the fact that there are several cryptocurrencies available to buy and sell. The downside, however, is that cryptocurrency trading is inherently risky. It is possible that you will lose out on your investment. Furthermore, crypto exchange is not regulated by the FCA. This means that European citizens are not protected by the government for such transactions.
FAQ about NETELLER Crypto
Can I Buy and Sell Cryptocurrency In My Country?
Only certain countries can use NETELLER’s Cryptocurrency Service. If your account has a Crypto section, then you are able to exchange cryptocurrencies via NETELLER.
Can I Send the Cryptocurrency I Buy to Other People?
Currently, you cannot send cryptocurrency to a merchant, crypto trading platform, or a friend. You may only hold the crypto that you buy in your account or exchange it for other currencies.
Can I Make a Withdrawal of Crypto?
If you are wondering if you can make a withdrawal of crypto, it depends on what you have in mind. You cannot make a crypto withdrawal via ATM. Furthermore, you cannot make a withdrawal of crypto to complete POS transactions. One thing to keep in mind is that you can’t make withdrawals of interest of support cryptocurrencies in order to complete transactions.
Of course, you don’t have to make any kind of crypto withdrawal right away. You can hold the balance in your account and keep an eye on the exchange rate, before trading the cryptocurrency for a different kind of currency. Then, the value of your wallet will be higher, and you can make an advantageous withdrawal.
Can I Suspend My Cryptocurrency Services?
In the case of an involuntary account permission withdrawal, NETELLER does its utmost to provide customers with notice in advance regarding the suspension. Furthermore, they will attempt to give insight into the nature of the withdrawal, unless the law prohibits them from doing so.
If you are looking for an exciting, easy, and fast way to try your hand at cryptocurrency trading, NETELLER has you covered. With nine cryptocurrencies available to buy and sell, you have a high level of flexibility. Keep an eye on the exchange rate and try your hand at making a profit with NETELLER’s Cryptocurrency Service today!