Summary: If you're looking to buy cryptocurrencies such as Bitcoin using a POLi deposit, the first step is to register with a digital asset exchange endorsed by AUSTRAC. By employing this technique, you can deposit AUD onto a trading platform via POLi, then exchange these funds for digital currencies. Selecting a platform that's licensed with ASIC or AUSTRAC is crucial for regulatory compliance.
After thoroughly examining premier cryptocurrency exchanges that accept POLi deposits, we have identified Bybit as the leading choice. Bybit facilitates swift and cost-free AUD deposits through POLi, enabling you to buy digital currencies at a minimal fee of just 0.1% of your total transaction amount. It is the fastest and most affordable method to acquire crypto in Australia.
- Free and instant Australian Dollar (AUD) deposits via POLi.
- Buy, sell and trade over 770 cryptocurrencies and stablecoins.
- Regulated and trusted exchange with over 18 million users.
Can I Buy Bitcoin with POLi?
Absolutely, POLi is supported by a multitude of cryptocurrency exchanges in Australia. The process involves making an AUD deposit via POLi, which can then be used to acquire Bitcoin directly. It's crucial to use a secure and legitimate platform licensed and regulated in Australia, thereby ensuring the protection of your assets and compliance with the local laws and regulations as put forth by AUSTRAC and ASIC.
How to Buy Crypto with POLi
One of the most simple and quickest ways for Australians to acquire cryptocurrencies, such as Bitcoin, using POLi is via the Bybit exchange. Bybit facilitates swift transactions in Australian dollars through POLi, allowing users to buy, sell, trade, and stake from a wide selection of over 770 cryptocurrencies with low fees.
You can begin trading hundreds of cryptocurrencies on Bybit by following this simple guide:
- Register on Bybit using your email address and set up a password.
- Click on 'Buy Crypto', followed by 'One-Click Buy', and choose 'AUD' as your preferred currency.
- Opt for 'POLi' as your deposit method and search for your chosen cryptocurrency.
- Enter the quantity you wish to buy and click on 'Buy'.
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POLi Cryptocurrency Policy
POLi is presently partnered with more than 20 cryptocurrency exchanges across the globe, functioning as a major AUD payment gateway. As a dominant pathway into the crypto market in Australia, it has helped Australians to effortlessly engage with the digital asset ecosystem. POLi is fully compatible with all trading platforms registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
What is POLi Payments?
POLi is an online payment system used in Australia and New Zealand. It is a popular payment option for individuals and businesses to make secure, real-time bank transfers. It operates as a ‘direct bank transfer’ system, which means users are able to transfer funds directly from their bank account to the payee's account without the need for a credit card.
To use POLi, customers simply select the POLi payment option at checkout and then log in to their online banking. They can then select the bank account they wish to use for the transfer and complete the payment. POLi is accepted by a range of merchants, including airlines, utility companies, government agencies, and online retailers.
Final Thoughts
To recap, POLi is a supported payment method on most major digital asset exchanges in Australia. After completing a detailed investigation into the top platforms, we found that Bybit is the best option thanks to its user-friendly interface, diverse range of cryptocurrencies, low trading fees, and commitment to security and transparency. To learn more about this exchange, visit our detailed Bybit Review.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
