How to Buy Crypto with PayID in Australia

Where to buy crypto with PayID

To invest in cryptocurrencies in Australia, you will need to use a secure cryptocurrency exchange. There are several cryptocurrency investing platforms that allow the depositing of Australian dollars with PayID. The supporting exchanges are Binance, CoinSpot, Cointree & Paxful.

We recommend using CoinSpot as it offers free and instant deposits via PayID and the lowest cryptocurrency trading fee at 0.1%.

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How to buy cryptocurrencies with PayID

In this guide we show Aussies how to buy cryptocurrencies with PayID. On CoinSpot you can deposit Australian dollars via PayID, POLi. BPAY, Osko and cash deposit. Follow the below steps to get started.

1. Sign up to CoinSpot
2. Select ‘Deposit Funds’ on the top left-hand corner of your screen and tap ‘PayID’
3. Open up PayID in your banking app and put in “[email protected]” as the payee and enter your unique description/comment number

4. Search for the cryptocurrency you like in the Buy/Sell tap
5. Input the amount of AUD you want to spend and tap ‘Buy’

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What is CoinSpot?

CoinSpot is the largest cryptocurrency exchange in Australia in terms of user base and supported cryptocurrencies. On CoinSpot you can trade over 370 cryptocurrencies and you can stake over 30. In addition to trading and staking cryptocurrencies, you can invest in popular NFTs like Bored Apes Yacht Club with any of the 370 tokens CoinSpot offers, directly on the exchange.

It is also the only high-security exchange in Australia and the only one to have obtained the ISO 27001 Standard Security Certificate. If you would like to learn more about CoinSpot and its security, fees and features, visit our CoinSpot Review.

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What are the fees to buy crypto with PayID?

When buying cryptocurrencies, it's important to consider the fees that are involved. Most exchanges will charge around 0.5% - 2% to deposit via PayID, CoinSpot however doesn't charge any fees. In addition to free deposits, CoinSpot offers the lowest trading fees in Australia at 0.1% when you use the Market Buy feature. When you buy crypto via the Instant Buy feature, it will cost 1%.