Summary: If you're looking to buy cryptocurrencies like Ethereum using POLi, the first step is to register with a digital asset exchange licensed by ASIC. By employing this technique, you can deposit AUD onto a trading platform with the payment method and swap your funds for digital currencies. Selecting a platform overseen by the ASIC or AUSTRAC is crucial for regulatory compliance.

After thoroughly evaluating the various exchanges that accommodate POLi, we find eToro to be the most appropriate choice. eToro offers an extensive selection of more than 3,000 digital currencies, stocks, ETFs, indices, and commodities at competitive fee rates. The platform promptly processes deposits in AUD through POLi and is registered with AUSTRAC.

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Can I Buy Bitcoin with POLi Payments?

Absolutely, those utilising POLi can purchase and trade cryptocurrencies such as Bitcoin on trustworthy digital asset platforms in Australia. It's crucial to choose an exchange that aligns with local financial regulations to guarantee both regulatory compliance and the safety of your investments. We recommend selecting one that is overseen by the Australian Securities and Investments Commission (ASIC).

How to Buy Crypto with POLi

If you want to expand your financial portfolio with digital currencies, you can do so directly with POLi. You can securely acquire various cryptocurrencies through reliable exchanges compliant with Australian financial laws that accept the payment method. We recommend eToro as it has competitive fees, ASIC licensing, and extensive asset selection. The platform enables prompt deposits in AUD through different channels, including POLi payments.

To kick off your investment adventure, just follow these four straightforward steps:

  1. Create an Account: Register for an eToro account and go through the essential identity verification procedures. 
  2. Pick Your Currency: Once you hit the ‘Deposit Funds’ option, choose ‘AUD’ as your preferred currency. 
  3. Initiate the Transfer: Select POLi as your desired payment method and transfer funds to the platform.
  4. Execute the Trade: Utilise the search function to pinpoint the cryptocurrency you aim to invest in and complete your transaction.
How to Buy Crypto with POLi.
How to Buy Crypto with POLi.

‍POLi Cryptocurrency Policy

POLi focuses on simplifying monetary transactions in Australia, while scrupulously adhering to financial regulations set by the Australian Securities and Investments Commission (ASIC). We recommend eToro as an excellent and regulated choice for your crypto trading pursuits. The platform operates under ASIC with license number AFSL 491139 and has its registered office at Level 3, 60 Castlereagh Street, Sydney NSW 2000, Australia.

Digital Asset Investing Fees

If you're thinking about venturing into the digital asset space, you'll want to understand the various costs that may come your way. Let's break down the typical fees you'll see on trading platforms:

  • Trade Costs: Making a purchase or sale of a digital asset on platforms like eToro generally incurs a fee of approximately 1% for each transaction.
  • Deposit Fees: The cost to add funds to your account can differ depending on the payment method you select. Options like bank transfers, POLi, and PayID are often more affordable, whereas using a credit or debit card could incur fees above 2%.
  • Withdrawal Expenses: The fee for cashing out your digital assets depends on the specific cryptocurrency involved. For instance, a standard fee of 0.0005 BTC is usually charged for Bitcoin withdrawals by many platforms.

Regulated by ASIC and monitored by AUSTRAC, eToro provides a broad spectrum of digital assets at competitive pricing, establishing itself as a reliable choice for POLi users.

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 it, 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. It is accepted by a range of merchants, including airlines, utility companies, government agencies, and online retailers. 

Final Thoughts

To wrap up, if you're an Aussie interested in buying cryptocurrencies like Ethereum or Bitcoin, using POLi as your payment method is both practical and secure. The key is to select a digital asset exchange that is licensed by ASIC to ensure regulatory compliance and safeguard your investments. 

eToro is our recommended choice for its extensive selection of digital assets, quick POLi deposit processing, live customer support, copy trading services, and competitive fee structure. Just remember, while the fee rates for trading and transactions may vary, eToro offers some of the most competitive rates in the market.