It's a fine job you've done bring these informations to our notice on a much needed and used services. First with PayPal and now Skrill. Of a truth, most of us takes these TOS so simple that we fail to go in-depth and search on ways that we can maximize the use of the available services by make ng threads of it makes reading much easier.
Suppose a user is temporarily suspended from using the crypto service. In that case, Skrill reserves the right to sell some or all the interests of that user. Customers might lose money this way because Skrill might sell off your interests at a time when the value of the purchased interests has dropped.
Once your purchase is completed, Skrill will hold the purchased interests on your behalf pooled together with the interests of all other Skrill users. That means you will never own the real assets or have access to the private keys protecting them. Only Skrill will.
[/quote]
Seeing terms like these makes my question myself on what's the point owing an interest when your not allowed to be in total control on how to use your interest. One of the points or privacy crypto enthusiast enjoy is the privilege of being your own bank and with Skrill in control of the interest fells more like that right is being faulted and it isn't cool.
Coupled with the fact that, should you be suspended as stated above, your interest could be transacted in ways that best suits Skrill. A mean, no one does business that isn't in their favour and with the way I see it, that doesn't favour the owner of the interest. I think that term is very much against users.
Some of the things you can’t do with the Skrill crypto interests:
- Upload or spend your crypto interests via Skrill Mastercards.
This is a much more needed service and it would do the company a thing of good to enable it to best serve there patronizers. Else, what's the point in owning the damn card anyway!
I find this part of their TOS a bit worrying, not sure how to interpret this correctly:
8.1. We make no guarantee that you will be able to buy or sell an interest in a Supported Cryptocurrency or make a P2P Transfer at the time of your request. We will only reflect the purchase or sale of your interest in your Skrill Account if we have been able to fulfil the Order with the Cryptocurrency Exchange.
Why would they not be able to fulfil a user’s order? Problems with liquidity? I highly doubt it. Could they maybe use this part of their TOS as an excuse to limit certain orders at certain price ranges that might not be aligned with their best interests? Who knows?
I think it's about the liquidity at this point. Supposing the network is way too congested, reflecting the transaction only prevents you from placing other ones while you a wait a confirmation on the other hand supposing it's a service within it's terms. I'm not sure but, this is what I could deduce from that.