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%.
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.
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.
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%.
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