· Published 06.10.2020 · last updated 29.11.2020

Neteller quietly adjusts the guidelines on bitcoins

Neteller has adjusted the conditions on the use of Bitcoins for all users. Before now, it was possible to exchange BTC worth several thousand dollars or Euros, but the new limit allows you only to exchange a maximum of €900 per day. However, that’s not the only big change. Deposits via Bitcoin can no longer be used to make a transfer to another user. Neteller has also ensured purchases or withdrawals from an ATM isn’t possible. You can only deposit money through a dealer, i.e., a poker room, casino, sports betting provider, and so on.

With these changes, Neteller is probably reacting to the many fraud attempts by criminals who try to convert their BTC into real money via Neteller. For users who honestly use this feature to exchange their BTC, this is not good news.

The current guidelines at a glance:

  • Bitcoin / Bitcoin Cash deposits can be used immediately for transfers to NETELLER merchants.
  • Bitcoin / Bitcoin Cash deposits cannot be used for transfers to other Neteller members.
  • Bitcoin / Bitcoin Cash deposits cannot be used to make purchases or withdrawals using your Net + card.
  • Any change to a requested amount in your Bitcoin / Bitcoin Cash wallet requires manual processing and can cause your transaction to be delayed until the next working day. Please wait one working day before asking us questions about underpayment or overpayment on deposit amounts. If your underpayment or overpayment amount has not been deducted from your account after one working day, please only contact NETELLER.

The fees, however, have remained the same and Neteller continues to charge a fee of 2.5% of the total amount, as before. If you want to deposit Bitcoin with a provider and this is not possible, Neteller is, of course, still the best alternative as a middleman. If you just want to exchange it for real money, Neteller is unfortunately no longer an option.

YourPokerDream recommendation: It is best to create a wallet at Wirex. With the associated prepaid card (Visa), you always have immediate access to your account balance, and you can also make a payout to your bank account. So if you want to continue to exchange Bitcoin without any problems, Wirex is the best option

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