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Buy Crypto With PayPal in Australia
This comprehensive page provides all the vital information on where you can buy cryptocurrencies with PayPal in Australia. We have reviewed the industry-leading exchanges, brokers, and apps to help you identify what works best for you.
The platforms in this post have been shortlisted based on essential parameters like security level, reputation among users, user experience, fee structures, and much more. To save you time, the top three providers for buying crypto with PayPal in Australia are eToro, Paxful, and LocalCoinSwap.
Top Crypto Brokers That Accept PayPal in Australia
eToro – The Overall Best Platform to Buy Crypto With PayPal in Australia
eToro is universally considered a top-tier crypto trading platform in Australia for users depositing with PayPal. Users can trade crypto for as little as $10, so beginners can start with little investment. Also, eToro customers can mirror other traders that have successful track records via the CopyTrader feature.
đ° Trade Values: | CFDs, Cryptocurrencies, Commodities, Stocks, Indices, ETFs |
đ Software: | Website, Web app, Mobile app |
đ Demo Account Available: | Yes |
đș Ease of Use: | Very Good |
â Our Rating: | 5.0 / 5.0 |
đ± App Available: | iOS & Android |
𧩠Regulation: | CySec, FCA and ASIC |
đ° Fees: | 1% Transaction Fee |
đ CFDs Available: | Yes |
✠Social Trading: | Yes |
Best Ways to Buy Crypto With PayPal in Australia
There is a long list of methods available for buying crypto with PayPal. Here is a list of the top methods, and each comes with its own set of pros and cons:
Cryptocurrency Brokers
Cryptocurrency Derivatives such as CFDs
Cryptocurrency Exchanges
Cryptocurrency P2P Services
Cryptocurrency Apps
Buy Cryptocurrency Directly on PayPal
Best Brokers to Buy Cryptocurrency With PayPal in Australia
Using a broker is an excellent method of buying cryptocurrency, especially for beginners who are new to cryptocurrencies. The broker charges a fee to facilitate the process of buying and selling on behalf of the customer.
At the time of writing this post, only eToro is providing investors with the option to fund their accounts using PayPal to buy cryptocurrency. eToro has established a rock-solid presence in Australia by providing competitive fintech solutions at a competitive quote.
Provider | PayPal Fee (AUD 1000) | Get Started |
đ„ eToro | $0 | Start with eToro now |
eToro – Itâs the Safest Platform Because of Strict Regulations
We recommend eToro to our readers because it is highly regulated by trusted organizations like FinCEN, FINRA, CySEC, ASIC, and the FCA. Moreover, the unique CopyTrader feature from eToro enables you to mimic the trading pattern of other users. Itâs an excellent feature for beginners aspiring to get involved with cryptocurrencies but doesnât have the experience.
However, some of the downsides include an inactivity fee and a withdrawal fee of $5.
Buy Crypto on eToro With PayPal: Step-By-Step Guide
In this section, we will share step-by-step instructions to help you buy crypto on eToro. The information will save you time and get you off the ground as soon as possible.
Step 1: Create an eToro account
Click on the green âStart Investingâ button on the eToro homepage. This will take you to the âSign Upâ page where you will need to fill out basic information. Alternatively, you can use your Google/Facebook account to sign up on eToro.
Step 2: Deposit funds with PayPal
Now, you will need to press the blue âDeposit Fundsâ button in the left navigation menu.
You will be presented with the Fund Your Account modal window. Note that PayPal can only be used after your 1st deposit, which can be made using a debit/credit card, Trustly, or bank transfer. Once you have entered the correct transaction details, click on the green âDepositâ button.
Step 3: Select crypto
Once you have funded your account, use the search bar at the top of the page and enter the cryptocurrency you want to buy for example- âBitcoinâ.
Step 4: Initiate trade
If you selected Bitcoin, then click on the âTradeâ button on the top right-hand side of the page and a popup will appear where you can buy/sell Bitcoin using the funds in your account.
You can select trade to buy Bitcoin at current market conditions or place an order to buy Bitcoin at a later date when the price reaches the desired amount.
Step 5: Send crypto to a wallet
Carrying forward the example of Bitcoin, you can send Bitcoin to a wallet of your choice by clicking on the âPortfolioâ button in the left-hand side navigation menu and clicking anywhere on the Bitcoin row. Next, click on the âTransfer to Walletâ button and specify the amount to send.
Note that once you send Bitcoin to the wallet, you cannot send it back to the eToro trading platform.
Best CFD Brokers to Buy Crypto With PayPal in Australia
With CFD brokers, you can enter into a contract with a broker to settle on the difference between the value of the cryptocurrency at the time of buying and when the contract ends. This enables you to profit from price movements by betting on if the cryptoâs trading value will go up or down over a specified time period.
The table below highlights the top 3 CFD brokers to buy crypto with PayPal in Australia.
Provider | PayPal Fee (AUD 1000) | Get Started |
đ„ eToro | $0 | Start with eToro now |
đ„ Plus500 | $0 | Start with Plus500 now |
đ„ Eightcap | $0 | Start with Eightcap now |
The CFD brokers listed above were chosen because they charge no deposit fees followed by a wide variety of investment options and mobile apps for faster access to charts, notifications, updates, and more. Executing your first Bitcoin CFD trade on these platforms is a straightforward process because of the simple navigation menus.
Plus500 – Top Choice for Easy Account Openings in Australia
Plus500 has arguably the most user-friendly interface, so itâs the ideal choice for beginners who are trying to climb the ropes of buying and selling cryptocurrency. Also, the mobile app is easy to use, so youâll be getting a consistent experience across multiple devices.
The fast account opening process means that the barrier to entry has never been lower. You can start buying cryptocurrency with PayPal within minutes of landing on the homepage. Also, the spreads on Plus500 are close to the industry average, so you can expect a good deal.
The drawbacks are a lack of educational content that beginners need to learn about the markets.
Buy Cryptocurrency on Plus500 With PayPal in Australia: Step-By-Step Guide
In this section, we will outline step-by-step the process of buying your first cryptocurrency on Plus500 with PayPal.
Step 1: Register with Plus500
Register with Plus500 by navigating to the homepage and clicking on the blue âStart Trading Nowâ button. You will be navigated to a screen where you need to enter your email and create a password. Alternatively, you can also authorize Plus500 to create your account through your personal Google, Facebook, or Apple account.
Step 2: Fund your account using PayPal
Click on the Funds button from the left sidebar. You will be asked to complete your account creation process by entering personal information and sharing answers to some basic questions. Once you hit submit you will be taken to the deposit page where you can select PayPal.
Enter the amount you wish to transfer and the available currency depends on your location.
Step 3: Buy crypto
To buy cryptocurrency, you will need to click on the Trade button from the left and search for the cryptocurrency you want to buy (e.g. âBitcoinâ) in the search bar at the top. You will be presented with a screen where you can see a list of cryptocurrencies.
Here you can see the Bitcoin row with a Buy button where you can purchase the cryptocurrency. You can also see the cost of Bitcoin and the corresponding chart underneath shows how the currency has changed price over a specified period.
Best Cryptocurrency Exchanges to Buy Crypto with PayPal in Australia
Cryptocurrency exchanges are platforms that can be used to buy and sell cryptocurrencies like Bitcoin, Ethereum, Dogecoin, etc., using fiat currencies or altcoins. The platform acts as an intermediary to manage the process of buying and selling cryptocurrencies.
Exchange | PayPal Fee (AUD 1000) | Get Started |
đ„ eToro | $0 | Get started with eToro now |
eToro is an industry leader offering robust security, top-notch features, and a wide user base. The user interface is intuitive, hence, even a beginner using the platform will not have a tough time understanding different functionalities
How to Buy Crypto With PayPal on an Exchange in Australia
You can buy Bitcoin in Australia or other Altcoins from eToro using PayPal as a deposit method. You can initiate your journey by registering a new account and completing the KYC verification process.
PayPal is not available at every cryptocurrency exchange, so you should research the possible payment methods for making the deposit at other exchanges before registering an account. Once you have logged into your new account, navigate to the deposit page and choose PayPal as the payment method.
How to Find Cryptocurrencies on an Exchange: To find a specific cryptocurrency on an exchange, you will need to navigate to the trading section of the platform and use the search bar to find a specific cryptocurrency. Popular cryptocurrencies like Bitcoin, Dogecoin, Ethereum, and Litecoin can be found at the top of the list of available cryptocurrencies.
If you would like to know more, we created the following guide on the best Bitcoin Exchanges.
Altcoins and Bitcoin
Some altcoins cannot be purchased directly with fiat currencies, but you can buy them with cryptocurrencies like Bitcoin. Therefore, buy Bitcoin as outlined in the steps above and look for the altcoins you wish to buy. Click on the buy button and specify the amount of the altcoin you want to trade for Bitcoin.
Coinbase – Top Choice for Massive Cryptocurrency Selection
Coinbase supports over 200 cryptocurrencies, hence providing users with a lot of diversity as far as trading and investment options are concerned. In addition to providing a massive number of cryptocurrencies, the users can enjoy other exclusive benefits and products from this platform including but not limited to Coinbase Learn, Coinbase NFT, Coinbase Wallet, and more.
The limitations include high transaction fees ranging from 0% to 0.6% and the inability to use PayPal as the deposit method in Australia.
Can I Use Decentralized Exchanges With PayPal?
Decentralized Exchanges (DEX) first appeared in 2014 and revolutionized the way users can trade cryptocurrencies in a peer-to-peer ecosystem without the involvement of an intermediary. Decentralized exchanges don’t require account registration or KYC verification, hence creating room for anonymous trading and investment.
To trade cryptocurrencies on DEXs, you will need to connect to a DeFi wallet like MetaMask which opens up many possibilities like sending/receiving tokens and broadcasting transactions.
Hence, itâs not possible to use PayPal to interact directly with any DEX. Instead, you must store tokens on a DeFi wallet to start trading on a DEX. However, you can use PayPal to buy cryptocurrencies from a centralized exchange and then move those crypto assets to your DeFi wallet.
Best Crypto P2P Platforms to Buy Crypto With PayPal in Australia
P2P platforms allow buying and selling of crypto between the users directly. You can search for offers that match your requirements concerning coin price, payment method and allowed transfer time.
Exchange | PayPal Fee (USD 1000) | Get Started |
đ„ Paxful | $0 | Get started with Paxful now |
đ„ LocalBitcoins | $0 | Get started with LocalBitcoins now |
đ„ LocalCoinSwap | $0 | Get started with LocalCoinSwap now |
The listed P2P platforms above were chosen because these providers are known for having a high trading volume, which means you can find more offers to buy cryptocurrencies. Moreover, these platforms accept a wide range of payment methods, including PayPal. These platforms are heavily regulated, hence the users can rely upon them to fulfil their needs of buying crypto in Australia.
LocalBitcoins – Has the Highest Trading Volume
LocalBitcoins was founded in Finland in 2012, so it has the best longevity out of any other P2P exchange. During its initial years, the platform acquired the biggest pool of customers with the largest trading volume, which is important for an exchange of this type.
It offers a variety of payment methods, including PayPal, and there is no transaction fee for buying or selling Bitcoin on the platform. Therefore, you will save a large sum of money compared to other platforms.
However, the drawback of LocalBitcoins is that it only supports Bitcoin. Also, they ask for a lot of private information, which is not ideal for those seeking anonymity.
Buy Bitcoin on LocalBitcoins With PayPal: Step-By-Step Guide
In this section, we summarise the process of buying Bitcoin with PayPal on the LocalBitcoins platform. This will save newcomers time and get you started without getting confused.
Step 1: Sign up for LocalBitcoins account
Click on the blue âSign Upâ button in the top right-hand corner of the homepage. You will be presented with an 8-step process that requests various information. Also, you will need to complete a KYC verification process.
Step 2: Search for an offer
Now you need to find a suitable offer for buying Bitcoin posted by other LocalBitcoins users. Enter the details as requested in the form to narrow your search for finding the offer. You will see a list of offers – choose one by clicking on the Buy button on the right-hand side.
Step 3: Inspect offer and confirm
When inspecting an offer, you need to look at the Bitcoin price and make sure that PayPal is an accepted payment method. Also, pay attention to the payment window so that you send the money in time.
Step 4: Make a payment
Once you have agreed to the deal, then complete the purchase using PayPal.
Best Apps to Buy Crypto With PayPal in Australia
Mobile apps allow users to buy and sell cryptocurrency from the convenience of their smartphone. Most apps provide the same functionality as you get on the website using a desktop browser. In the table below, you will find the mobile apps for buying and selling Bitcoin with PayPal.
Provider | OS | PayPal Fee (AUD 1000) | Get Started |
đ„ eToro App | Android / iOS | $0 | Start with eToro now |
đ„ LocalBitcoins | Android / iOS | $0 | Start with LocalBitcoins now |
đ„ Paxful | Android / iOS | $0 | Start with Paxful now |
eToro has been listed in the table above because it offers competitive fees, a large selection of cryptocurrencies and is considered a safe platform. Also, this platform has low account minimums, which is perfect for new users that want to give the platform a test drive.
Take a look at the complete guide we created on the best Bitcoin apps in Australia.
eToro App – Top Choice for User-Friendliness in Australia
The eToro mobile app has been fine-tuned to provide an intuitive experience with a short learning curve for beginners. Also, it delivers the same functionality as you can find on the desktop. There is a 2-step authentication process to safeguard the login in mechanism and when executing transactions. The payment methods at eToro are also more extensive in the industry. However, eToro could improve the quality of its customer service team and provide lower fees to be more competitive with alternatives.
Buy Crypto on eToro App With PayPal in Australia: Step-By-Step Guide
Now, we will share the steps you need to follow to buy Bitcoin on the eToro App with PayPal. This section is handy for beginners who are trying to figure out how to get started.
Step 1: Download the eToro app and register an account
Download the eToro mobile app by visiting Google Play or the App Store, depending on your smartphoneâs operating system. Install the app and start the registration process by following the on-screen instructions. You can provide your email address and create a username/password, or use the Google or Facebook buttons to share your social media profiles.
Step 2: Fund your account
Now, itâs time to fund your account with PayPal by clicking on the menu button in the top left-hand corner and then clicking the blue Deposit Funds button. You will be taken to the screen (as shown below) where you can make your deposit. Note that you can only use PayPal after making your first deposit with a credit/debit card, Trusty, or bank transfer.
Step 3: Buy crypto
Once you have money in your eToro account, click on the Discover button in the bottom left-hand corner of the appâs homepage. Next, in the search bar, type Bitcoin or any other crypto and choose the currency from the list. Now click on the blue Trade button, and you will see the screen below where you can buy Bitcoin.
Buy Crypto Directly on the PayPal App in Australia
Customers with a PayPal app in the United States can buy Bitcoin directly without the need for exchanges or brokers but this facility is not available for the residents in Australia.
If you want to buy different cryptocurrencies in Australia but you are not sure which ones , take a look at the following step-by-step guides:
How to buy Ripple in Australia
Should You Buy Crypto With PayPal in Australia
PayPal is a good choice for users that already have the app and want to test out buying Bitcoin with the low minimum deposit of $1. Therefore, it is convenient to use PayPal if itâs an app that is already on your mobile device.
Also, PayPal is a trusted company with decades of experience, so you can safely store cryptocurrency on its platform. Additionally, you can enjoy fast withdrawals or send the coins to friends who are also using PayPal.
The biggest drawback is the fact that the residents of Australia cannot buy Bitcoin directly from the PayPal app.
- Widely available
- Low minimum of $1
- Trusted company
- Fast Withdrawals
- Fees
- Limited cryptocurrencies
- Crypto section not available in Australia
Exchange or a Broker: What Are the Differences When Buying Crypto With PayPal?
Exchanges and brokers are excellent methods of buying crypto with PayPal, but there are important differences. We will explore them in the following section to help you determine if the method matches your requirements.
Buying Crypto With PayPal Using Exchange in Australia
Exchanges are centralised platforms where you can use funding methods like PayPal to purchase crypto.
- Convenient
- Reliable
- Lots of choices
- Many cryptocurrencies available
- Excellent user interfaces
- Hacking possibility
- Transaction charges
Buying Crypto With PayPal Using a CFD Broker in Australia
Crypto CFD brokers allow investors to profit from betting on if the price of crypto will increase or decrease over a specified time period. This transaction type does not provide ownership of the asset – itâs purely a speculative transaction.
- No stamp duty
- Low barrier to entry
- Can invest in rising and falling markets
- High leverage
- Investors pay the spread
- Poor regulation
- High volatility
Is It Worth Buying Crypto With PayPal in Australia?
In this section, we will provide our opinion on if you should use PayPal as a deposit method for buying crypto in Australia. Overall, it is a good choice because it is one of the most popular payment processors with wide availability on the top platforms.
However, the residents of Australia cannot directly buy cryptocurrency from PayPal.
Is PayPal the Fastest Way to Buy Crypto in Australia?
Transaction speed is an important factor to ensure you can get your hands on crypto faster. PayPal offers instant payment processing in most cases. Occasionally a transaction may get held for verification by the customer service team.
Is PayPal the Safest Way to Buy Crypto in Australia?
PayPal is considered a safe method of buying cryptocurrency because it is a trusted money transfer provider with decades of experience and is also regulated by the top regulators in all regions of the world where they operate. Also, they use 2-factor authentication to ensure that the transaction is completed by the authentic account holder. However, the residents of Australia cannot directly buy cryptocurrency from PayPal.
Is PayPal the Cheapest Way to Buy Bitcoin in Australia?
When buying Bitcoin using platforms like eToro, there is no fee attached to PayPal. Therefore, it is one of the cheapest options in the industry.
What Are the Fees When Buying Crypto With PayPal in Australia?
Now let us take a look at the fees when buying, selling or transferring crypto with PayPal.
Provider | eToro | Plus500 | Binance |
Deposit Fee | No Fee | No Fee | N/A |
Buying Bitcoin Fee | 1% | 0.6 Pips | N/A |
Transfer to wallet Fee | No Fee | No Fee | N/A |
Selling Bitcoin Fee | 1% | 0.6 Pips | N/A |
Payout Fee | $5 | No fee | N/A |
Inactivity Fee | $10 After 12 Months | $10 After 3 Months | N/A |
PayPal purchase fees | $0 | $0 | N/A |
PayPal Purchase / Sell Fees or Any Other Fees? | |||
PayPal Purchase / Sell Fees or Any Other Fees? | |||
Total fees |
Is Buying Crypto With PayPal Anonymous?
In most cases, buying crypto with PayPal is not anonymous, as you will learn in the following section.
Can You Buy Crypto With PayPal Without Verification or KYC in Australia?
The majority of crypto buying methods with PayPal require verification of your identity. This includes buying from brokers and exchanges. However, if you use decentralised exchanges, then you can buy crypto without the need to use PayPal.
Can You Buy Crypto With PayPal Without Registration in Australia?
No, you will need to register an account with PayPal to enjoy using the payment processors for buying crypto. Also, you will need to register with the platforms where you want to buy crypto. For example, companies like LocalBitcoins have a lengthy registration process and a photo ID verification step before you can buy Bitcoin.
Reason to Buy Crypto With PayPal in Australia
When choosing a payment processor to buy cryptocurrency, you need to consider the top reasons to figure out the best methods. PayPal is a good choice because it is widely available, there is no deposit fee, and the transaction is processed instantly.
Alternative Payment Options to Buy Crypto With AUD
You might not have access to a PayPal account or dislike the services, so choosing an alternative will be your next step. In this section, we offer a range of alternatives to provide options for everyone.
Buy Crypto With Debit Card, Credit Card, or Amex in Australia
Buying crypto with a debit or credit card also provides instant transaction processing, and they are widely available on most platforms. Also, you most likely have one of these cards in your possession, which means there is no need to register for a new account. Top cards you can choose to buy Bitcoin include PaySafeCard and Prepaid Card.
Buy Crypto With Bank Transfer in Australia
Almost everyone has a bank account, which means you can put it to good use for buying cryptocurrency. Some cryptocurrency exchanges in Australia like Swyftx provide the option to fund the account using a bank transfer.
Buy Crypto With PaySafeCard in Australia
PaySafeCard is a good option to buy crypto if you do not have a bank account and want anonymity. No personal information is attached to PaySafeCard purchases, so you can buy cryptocurrency without revealing your identity.
Buy Crypto With PayPal on Digital Wallets in Australia
Buying crypto with digital wallets like Apple Pay, Google Pay, Zelle, Venom, and Neteller typically requires a low number of steps, and the transactions are processed instantly. However, we couldnât find digital wallets that allow buying crypto using PayPal in Australia.
What to Consider When Buying Crypto With PayPal
Before buying crypto with PayPal, you need to be aware of a few considerations. These ensure you understand the process and what to expect:
Must Support PayPal: Make sure to choose a provider that supports PayPal as a method of adding funds.
Fees: Most providers do not charge a fee for adding money with PayPal. However, a fee might be charged for withdrawals to PayPal. Compare these extra fees to get the best deal.
Taxes: Australian Taxation Office (ATO) requires individuals to pay tax on net capital gains from selling, trading, spending or gifting cryptocurrency like Bitcoin. It is to be noted that the amount of tax is calculated based on your tax bracket and how long you hold. For more information, you should check the official website of ATO.
Safety: Consider where you will keep the crypto after the purchase. Decide if you want to hold it on the platform or transfer it to a wallet for safekeeping.
Amount: Crypto is relatively volatile compared to fiat currency. Therefore decide on the amount of crypto that you are comfortable with buying.
How to Sell Crypto Using PayPal in Australia
In this section, we share the details of how to sell Bitcoin using PayPal. The simple process allows users to take money off the platform once they are done trading. In this example, we use Plus500, but you can expect a similar process with others.
Step 1: Find crypto in the UI
Once you have logged into your Plus500 account, you need to locate the cryptocurrency page you want to buy (e.g. Bitcoin), click on the Trade icon, and search for Bitcoin or press on the Open Positions button.
Step 2: Choose the amount of crypto to sell
Now; itâs time to specify the amount of crypto you would like to sell by clicking on the sell button in the Bitcoin row. On the right-hand side, a pop-up will appear that provides details about the transaction, which includes the price.
Step 3: Withdraw to PayPal
Once you have sold the Bitcoin, navigate to the Funds page and click on the Withdraw button. You will be asked to verify your account if this step is incomplete.
The money will then land in your account, or you will have to claim the money by logging into your PayPal account.
Do All Platforms Accept PayPal to Buy Crypto in Australia?
PayPal is not available on all cryptocurrency exchanges, which you should know about before registering an account to set the right expectations.
Provider | PayPal Accepted | Review |
Coinbase | No | Read Coinbase review |
Binance | No | Read Binance review |
Luno | No | Read Luno review |
Wirex | No | Read Wirex review |
Poloniex | No | Read Poloniex review |
Should I Buy Crypto With PayPal?
In conclusion, buying crypto with PayPal is a great choice because of the wide availability, no deposit fees, and instant processing time. You canât buy Bitcoin directly on most platforms since you first need to fund the account and then use the balance to buy coins.
PayPal is a popular payment processor, so you will find a lot of platforms that offer it as a funding method. Some of the top ones include eToro, Plus500, and LocalBitcoins.
Can I Buy Any Other Cryptocurrencies With PayPal in Australia?
You can buy any cryptocurrency you want from an exchange, broker, or P2P platform with PayPal as long as it offers support for PayPal deposit and payment. Please note that you cannot buy cryptocurrency directly from the PayPal app in Australia.
FAQs
Where is the best place to buy crypto with PayPal in Australia?
The top places to buy crypto with PayPal are eToro, Plus500, and LocalBitcoins. The platform you choose should be based on your specific requirements. For example, if you are looking for an intuitive user interface, then eToro is a great choice. However, LocalBitcoins is more suitable for individuals seeking anonymity.
Does PayPal accept crypto as a deposit method in Australia?
No. This feature is available only in the United States.
Is it illegal to buy Bitcoin with PayPal in Australia?
No. You can legally buy Bitcoin in Australia; however, you may need to share the transaction details with tax authorities.
Can you send Bitcoin with PayPal in Australia?
No. Unlike the United States, the residents of Australia cannot use the cryptocurrency section of PayPal; hence, they cannot send Bitcoin to other PayPal users.
Can you store Bitcoin on PayPal in Australia?
No. Unlike the United States, the residents of Australia cannot use the cryptocurrency section of PayPal; hence, they cannot store Bitcoin on PayPal.
Can you buy Bitcoin with PayPal under 18 in Australia?
You must be 18 years of age to use any services at PayPal, including the buying of Bitcoin.
Can you buy Bitcoin with PayPal on the blockchain?
PayPal or any other centralised application cannot directly interact with a blockchain network, hence you cannot buy Bitcoin with PayPal directly on the blockchain.
