Home
»
Guides
»
How to buy Crypto with BPAY in Australia

How to buy Crypto with BPAY in Australia

Sara White
Fact Checked
August 14, 2022

Summary: The best way to invest in Bitcoin and other cryptocurrencies with BPAY is by going through Australia's largest and most secure cryptocurrency-investing platform, CoinSpot. On CoinSpot users can invest in Bitcoin and many other tokens with a small 0.1% trading fee.

Table of Contents

Platform Highlights

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 Exchange.

How to buy Bitcoin & Crypto with BPAY

The easiest and most affordable way to invest in Bitcoin and other cryptocurrencies with BPAY is through the CoinSpot exchange. In this method, we show Aussies how to buy Bitcoin with BPAY for just 0.1% trading fees. 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. 
Deposit Funds with BPAY.
  1. Go to the ‘Markets’ tab and select the ‘BTC/AUD’ pair. 
  2. Enter the amount of AUD you want to invest and tap ‘Buy BTC’.
How to buy Bitcoin & Crypto with BPAY.
How to buy Bitcoin & Crypto with BPAY.

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.

CoinSpot Fees Schedule.
CoinSpot Fees Schedule.

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.

Share

Sara White

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

Twitter
View Posts