How to Buy Crypto or Bitcoin with PayID

Can I buy cryptocurrencies with PayID?

Yes, PayID is supported on many Australian-based cryptocurrency exchanges like SwyftX and CoinSpot. We suggest using CoinSpot as it is Australias most secure cryptocurrency platform and is also the most affordable place to buy Bitcoin with PayID.

On CoinSpot, AUD deposits are free and instant for PayID, and it only costs 0.1% to buy Bitcoin (BTC) on CoinSpot. Which is the lowest price to buy Bitcoin in Australia. In addition to unbeatable fees, CoinSpot also offers cryptocurrency staking, an NFT Marketplace with BAYC, Azuki and CoolCats, crypto ETFs and more.

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How to buy Bitcoin and Crypto with PayID

In this example, we show Australians how to buy Bitcoin with Australian dollars using the PayID deposit method. You can also deposit AUD on CoinSpot via cash, POLi, BPAY and Osko. Follow the steps below to get started.

1. Sign up to CoinSpot and complete the instant verification. 
2. Select ‘Deposit Funds’ and choose ‘PayID’.
3. Open your banking app and select ‘Pay Anyone’ and enter this for CoinSpots PayID ‘deposit@coinspot.com.au’ and enter your unique description/reference number provided in the PayID Deposit Funds page on CoinSpot.
4. Tap the ‘Markets’ tab and select the ‘BTC/AUD’ market.
5. Enter the amount of AUD you want to spend and click ‘Buy BTC’.

What are the Deposit Fees?

Fortunately for CoinSpot users, PayID or Osko deposits are completely free and instant. You can also increase your deposit limit to over $100,000 AUD per day if you contact support and complete extra verification information.

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About PayID

PayID is a unique identifier that allows you to receive payments from anyone, anywhere. It's like an email address for your money. You can use PayID to send and receive payments in Australian dollars (AUD), New Zealand dollars (NZD), Canadian dollars (CAD), US dollars (USD), Euros (EUR) and British pounds (GBP).

To create a PayID, all you need is a bank account and an email address or mobile number. Once you've created your PayID, you can start receiving payments from anyone, anywhere in the world.

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Final Thoughts

PayID is an easy and secure way to buy Bitcoin and cryptocurrencies in Australia. When using PayID, deposits are free and instant on CoinSpot. In addition to unbeatable fees, CoinSpot also offers cryptocurrency staking, an NFT Marketplace with BAYC, Azuki and CoolCats, crypto ETFs and more.