Cryptocurrency Neteller Fees?

Has anyone here exchanged neteller funds for cryptocurrency and if so, can someone explain to me how much fees one has to pay? I'm currently gold level in neteller so I know I pay a discounted fee. I never exchanged neteller for cryptocurrency before. From playing around with Neteller, it seems the fee I have to pay is 1.4%. If I put buy $1000 worth of BTC, it would show the fee as $14 which is 1.4%.


However, is the buy/sell spread on neteller much higher than a regular exchange? I never bought cryptocurrency from an exchange before but know that some exchanges have better spreads than others. I took a look and the buy price for BTC is $89,350 and the sell price is $88,428 on Neteller.. When I go to coinbase which seems to be the most popular exchange, it shows the mid price as $88,907. So that means neteller has a huge spread right? But what is the spread on coinbase here?


I'm American that is outside the US. I have accounts on non US sites because I was verified with them a while back. Back then you needed to give them a non US utility bill which I had so I could play on these sites. I play on pokerstars Non US. I use neteller as an ewallet to move funds from sites.


Back then, I would cashout by doing swaps with people who I done trades with. So for example, if I had $1000 worth of pokerstars funds and someone has $1000 worth of zelle, I would trade with them. In the end, I want funds back to my US bank account. I know that there are Americans that travel outside the US to play on ggpoker and pokerstars and for them to do that, you have to get verified with a utility bill which many people do. The thing is to get funds on pokerstars, that person would have to do a trade with another user as you can't send funds to pokerstars from a US bank account. I believe with ggpoker, you can use cryptocurrency so that would mean someone could just deposit and withdraw using cryptocurrency.


The issue is I'm having a bit of trouble finding people that needs pokerstars funds and has zelle which is how I cashed out many times to my US bank account. I know that for US players who play in the US on say ACR or Bovada, they would use cryptocurrency so there is no issue with depositing and withdrawing. Since pokerstars does not offer cryptocurrency, what other ways can I cash out without having to trade with someone? The only other method I can think of is withdraw the funds to Neteller and then swap it for cryptocurrency like bitcoin or litecoin? Then send that to coinbase and then cashout to US bank account? The thing is I'm not sure if the spread that is used on Neteller is very high or not as I'm not that familar with cryptocurrency trading. I do know that with me being Gold level in Neteller, it seems I pay 1.4% in fees. I entered buy $1000 worth of bitcoin with Neteller and it showed the fee for selling $1000 worth of Neteller for Bitcoin would cost $14 so 1.4%. However, since there is a spread of I think 0.5%, it looks like I would pay around 2% to convert neteller to bitcoin? Then send the cryptocurrency to coinbase and you pay another fee there. So it will cost roughly 2.5% to 3% of the total amount? I'm curious if it makes sense to pick litecoin instead as the sending fees are less than bitcoin?

I just noticed that if I click on the Withdraw to crypto wallet and click try it out, I get a message of


We need to collect some additional information to allow you to trade crypto in line with regulations.


It shows a drop-down menu for tax residence country and US is an option. So I just click that and then click submit? I know I leave the I also pay taxes in another country blank. The thing is once I do this, I can now convert Neteller into cryptocurrency? Or I need to send more information? My Neteller account has been verified a while back already. But will I need to send in more documents to trade crypto?

From checking google, it would seem I wouldn't even be able to buy crypto with neteller funds because I'm a US resident? The thing is I spend most of the year outside the US but I'm a US resident though. My address on file with neteller is non-US as I been verified with neteller a while back.


Does this mean I can't use their cryptocurrency services because of this?

I exchanged money for cryptocurrency, but in the skrill payment system. As I understand it, these are basically similar payment systems. If I'm not mistaken, I paid a commission of about 2.5-3%, which in my opinion is quite a lot.

What cryptocurrency did you exchange for? Was it bitcoin or another one? You could withdraw bitcoin or whatever cryptocurrecny to an external wallet address right? Back then I remember it said you couldn't transfer bitcoin out of neteller which would make it useless.


Are you vip in Skrill and if so what level? I'm Neteller gold and it seems I would pay 1.4% in fees. However, when I look at the buy and sell price spread for bitcoin, it's several hundred dollars off. So that means neteller uses a big spread then? I know the BTC to USD on Google and on coinbase is the mid market number but neteller is charging a few hundred dollars more in price for BTC or not?


I checked and it would seem like being neteller gold, in addition to the 1.4% fee, the spread probably would charge another 0.5 to 1 percent so most likely it will be 2 to 2.5% then? Your example of it being 2.5 -3% I assume is because you are not vip in Skrill right so that is why it is higher?