Buy Crypto with BPAY in Australia

Buy Crypto with BPAY in Australia

Fact Checked
Jan 2, 2023

Summary: The best way to buy Bitcoin and cryptocurrencies with a BPAY deposits is through an AUSTRAC-licensed exchange. With this method, you can directly deposit AUD via BPAY to securely buy and sell digital assets.

Our top pick for BPAY users is CoinSpot. They are Australia's largest and most popular exchange that offers fast and cheap BPAY deposits to trade 370+ crypto assets with low fees.

Table of Contents

Best Crypto Exchange for BPAY Deposits

Platform Highlights

  • Instant Australian Dollar (AUD) with BPAY to buy and sell over 370 cryptocurrencies.
  • Regulated by AUSTRAC as a Digital Asset Service Provider and licensed by ASIC.
  • Wide variety of features including Crypto Staking, NFT Marketplace & Wallet, Crypto ETFs and more.

Is it possible to buy crypto with BPAY?

Yes, you can buy cryptocurrencies with BPAY through a secure, regulated and licensed cryptocurrency investing platform. Many Australian cryptocurrency exchanges support BPAY as an AUD deposit method. You can choose from multiple exchanges but the best platform to buy crypto with BPAY is without a doubt, CoinSpot.

On CoinSpot, users have access to multiple AUD deposit methods including BPAY, POLi, PayID, Osko, Bank Transfer, Credit/Debit card and Cash deposit. Additionally, it offers cryptocurrency trading for a competitively low 0.1% when you use Market buy and 1% when you use Instant Buy.

CoinSpot is widely regarded as the best cryptocurrency investing platform in Australia. It offers high security and has obtained the ISO27001 certificate aswell as many useful features including Bundles (similar to ETFs), an NFT marketplace with popular projects like Bored Ape Yacht Club and much more. To learn about CoinSpot, visit our CoinSpot Review.

CoinSpot Exchange.
CoinSpot Trading Platform.

How to Buy Crypto with BPAY

The best crypto exchange in Australia to buy and sell digital assets with BPAY deposits is CoinSpot. Their platform offers the fastest and lowest fee BPAY deposits at 0.9% to trade over 370 cryptocurrencies. CoinSpot is the largest and most trusted exchange in the country with over 2.5 million users on the platform.

Follow the steps below to begin investing with BPAY:

  1. Create an account on CoinSpot and complete verification.
  2. Click 'Deposit Funds' and select 'BPAY'.
  3. Copy your Unique Biller Code & Reference number into your banking app and send your desired amount of AUD to CoinSpot. 
  4. Go to the ‘Markets’ tab and find the cryptocurrency you want to buy.
  5. Enter the amount of AUD you want to invest and execute your trade.
Deposit Funds with BPAY.
Deposit BPAY to buy Crypto.

What are the fees involved in buying crypto?

This depends on what platform and deposit method you choose to buy cryptocurrencies with. Most exchanges will typically charge between 0.5% - 2% in trading fees and 1% - 4% in deposit fees.

However, on CoinSpot users can invest in Bitcoin and other cryptocurrencies for 0.1% when they purchase the token via the 'Markets' feature or 1% when they use the 'Buy/Sell' (Instant Buy) feature. As for deposits, CoinSpot charges 0.9% when you deposit via BPAY. But, there are many free AUD deposit methods including POLi, PayID, Osko & Bank Transfer.

About BPAY

BPAY is a payment method/platform that allows customers to pay their bills using their phone or online banking. It's a convenient way to manage finances and avoid late payments, as you can schedule payments in advance and track them all in one place. Plus, BPAY users can earn rewards points for every BPAY transaction they make.

To use BPAY, simply register your details with your bank or financial institution. When you receive a bill with a BPAY logo, you can pay it using your phone or online banking. Most major banks and financial institutions in Australia offer BPAY. Plus, there are no additional fees for using BPAY - you'll just be charged the standard transaction fee by your bank.

Final Thoughts

BPAY is a convenient and secure way to buy cryptocurrencies in Australia. With CoinSpot, you can securely purchase Bitcoin and other tokens with BPAY and get access to a wide range of features including low fees, bundles & an NFT marketplace. To learn more about how to buy crypto with BPAY, read our comprehensive CoinSpot review.


Sara White

I fell into crypto during the 2017 mania and have been around ever-since. I now write, research and publish my own reports on the digital asset ecosystem.

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