Buy Bitcoin With PayPal in Australia

This comprehensive guide will help you explore the best and most reliable methods of buying Bitcoin or trading it with PayPal in Australia through leading exchanges, brokers, and apps. The platforms covered in this post have been cherry-picked based on multiple parameters, including but not limited to fees, user interfaces, reputation among the customer base, and more.

To save you time, the top providers for buying Bitcoin with PayPal are eToro and LocalBitcoins, while the top PayPal-accepting provider of Bitcoin CFDs is Plus500.

Top Bitcoin Brokers in Australia That Accept PayPal

	Name	Score	Visit	Disclaimer
	1eToro	8.7	Visitetoro.com					Don’t invest unless you’re prepared to lose all the money you invest.
	2Plus500 CFD Broker	9.8	Visitplus500.com					82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
	3Pepperstone	9.0	Visitpepperstone.com					Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
	4Eightcap	8.8	Visiteightcap.com
	5Webull	8.3	Visitwebull.com
	6Coinbase	8.4	Visitcoinbase.com
	7Changelly	7.4	VisitChangelly.com
	8Trading 212	8.4	Visittrading212.com					CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Ways to Buy or Trade Bitcoin With PayPal in Australia

There is a wide range of methods available for buying Bitcoin with PayPal, or trading Bitcoin after funding your account through PayPal. Here is a list of the top methods, and each comes with its own set of pros and cons:

• Bitcoin Brokers

• Bitcoin Derivatives such as CFDs

• Bitcoin Exchanges

• Bitcoin P2P Services

• Bitcoin Apps

• Buy Bitcoin Directly on PayPal

Best Brokers to Buy Bitcoin With PayPal in Australia

Using a broker is an excellent method of buying Bitcoin, especially for beginners who are new to the cryptocurrencies. The broker charges a fee to facilitate the process of buying and selling on behalf of the customer.

The providers listed in the table above were chosen over competing alternatives because they charge the lowest fees, offer the best user interface experiences and have great reputations with their customer base. Also, they provide a wide range of cryptocurrencies if you want to take a break from Bitcoin.

eToro - It’s the Safest Platform Because of Strict Regulations

	Name	Score	Visit	Disclaimer
	eToro	8.7	Visitetoro.com					Don’t invest unless you’re prepared to lose all the money you invest.

We recommend eToro to our readers because it is highly regulated by trusted organisations like FinCEN, FINRA, CySEC, ASIC, and the FCA. Also, you can buy Bitcoin with PayPal without getting charged a fee because of the spread-based structure.

eToro offers the unique CopyTrader feature, which enables you to mimic the trading pattern of other users. It’s an excellent feature for beginners aspiring to get involved with cryptocurrencies but doesn’t have the experience.

However, some of the downsides include an inactivity fee and a withdrawal fee of $5.

Buy Bitcoin on eToro With PayPal: Step-By-Step Guide

In this section, we will share step-by-step instructions to help you buy Bitcoin 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 “Start Investing” button on the eToro homepage. This will take you to the “Sign Up” page, where you will need to fill out basic information or use the Google/FaceBook buttons to share your social media profiles.

Step 2: Deposit funds with PayPal

Now, you will need to press the blue “Deposit Funds” 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, bank transfer, or PayPal. Once you have entered the correct transaction details, click on the green “Deposit” button.

Step 3: Select Bitcoin

Once you have funded your account, use the search bar at the top of the page and enter the keyword “Bitcoin” to navigate to the Bitcoin page.

Step 4: Initiate trade

On the Bitcoin page, click on the “Trade” button on the top right-hand side, 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 Bitcoin to a wallet

To send Bitcoin to a wallet of your choice, click on the “Portfolio” button in the left-hand side navigation menu and click anywhere on the Bitcoin row. Next, click on the “Transfer to Wallet” 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 Trade Bitcoin With PayPal in Australia

Although you can't actually buy or sell Bitcoin through a CFD broker, you can speculate on its price. By creating a "buy" or "sell" order, you are really predicting whether its price will go up or down in the future. The difference between BTC's price when you open and close a position decides how much profit you make when your prediction was right or how much loss you incur when your prediction was wrong.

The table below highlights the top 3 CFD brokers in Australia.

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 trading Bitcoin CFDs in Australia

	Name	Score	Visit	Disclaimer
	Plus500 CFD Broker	9.8	Visitplus500.com					82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Plus500 has a user-friendly interface, so it’s the ideal choice for traders who want an intuitive CFD trading experience. Also, the mobile app is an intuitive platform, so you’ll be getting a consistent experience across multiple devices. However, remember that CFDs are complex instruments that involve significant risks, regardless of the platform, so should only be traded by experienced traders.

You can open a demo account in minutes if you want to get familiar with the platform and test out your strategies virtually without risking any money. Once you've been approved for a real account, you can fund it with PayPal without difficulty. 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.

Trade Bitcoin on Plus500 With PayPal: Step-By-Step Guide

In this section, we will outline step-by-step the process of speculating on the price of Bitcoin on Plus500 with PayPal.

Step 1: Register with Plus500

Register with Plus500 by navigating to the homepage and clicking on the blue “Start Trading Now” button. You will be navigated to a screen where you need to enter your email and create a password. Alternatively, you can also authorise 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: Trade Bitcoin CFDs

You will need to click on the Trade button from the left and search for “Bitcoin” 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 "Buy" and "Sell" buttons. Click on one of these buttons if you would like to open a long or short CFD position.

Best Bitcoin Exchanges to Buy Bitcoin with PayPal in Australia

Bitcoin exchanges are platforms that can be used to buy and sell Bitcoin using FIAT currencies or altcoins. The platform acts as an intermediary to manage the process of buying and selling cryptocurrencies like Bitcoin.

The Bitcoin exchange featured in the table 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

Also, the low-trading fee is a competitive deal compared to some of the more expensive methods of trading Bitcoin. The customer support team is great because they are responsive and quick to reach, so you’re never more than a few clicks away from assistance.

How to Buy Bitcoin With PayPal on an Exchange in Australia

Bitcoin is the most popular cryptocurrency, so you will readily find it on almost any crypto exchange in Australia, which includes Capital.com and eToro. To buy Bitcoin with PayPal on these exchanges, you will need to register for a new account and complete the KYC verification process to start depositing funds.

Note that not all Bitcoin exchanges accept PayPal as a deposit method, so you will need to confirm the accepted payment methods before creating an account. Once the account is created, you will need to navigate to the deposit page and select PayPal as the payment method. There might be some limitations regarding accepted fiat currencies based on your location and a limit on how much you can deposit in one transaction.

How to find Bitcoin on an exchange: To find Bitcoin on an exchange, you need to navigate to the trade section of the platform. Since Bitcoin is the most popular cryptocurrency, it might automatically appear or you will need to search it using a search bar.

Altcoins and Bitcoin

Some altcoins cannot be purchased directly using fiat currency in your account, but you can buy them with Bitcoin. Simply buy the Bitcoin by following the steps outlined in the process above and search for the altcoin you wish to acquire. Next, click on the buy button and choose the amount of Bitcoin you would like to trade for the altcoin.

Likewise, you can buy Bitcoin with other cryptocurrencies that you are holding without the need for PayPal. To complete this process use the search bar to find Bitcoin on the trading platform. Select the buy button and choose the cryptocurrency you would like to trade for Bitcoins. Note that the available cryptocurrencies for trading with Bitcoin will differ between exchanges.

Coinbase - Low Minimums Are Perfect for Beginners

	Name	Score	Visit	Disclaimer
	Coinbase	8.4	Visitcoinbase.com

Coinbase allows customers to get started with as little as $2 to start trading. This is perfect for beginners interested in figuring out if cryptocurrency trading is the right game for them without making a big investment. Also, the platform provides over 150 cryptocurrencies to choose from, which is more than most.

The platform offers a simple user interface and makes the process of exchange between cryptocurrencies convenient. Therefore, new users will not have a long learning curve on their first day.

However, Coinbase has relatively higher fees than most, which go upto 0.60%, depending on the size of the transaction. Most importantly, the residents of Australia cannot use PayPal to fund their Coinbase accounts.

Can I Use Decentralised Exchanges With PayPal?

First appearing in 2014, decentralised exchanges opened the gates for the users to trade cryptocurrencies in a peer-to-peer and non-custodial model without the involvement of any third party. There is no need to complete the registration process to use a decentralised exchange - not even an email address is required to interact with them.

All you have to do is connect your decentralised wallet and access a world of opportunities like broadcasting the transactions, sending tokens, receiving tokens, and more anonymity is one of the core benefits of decentralised exchanges.

Hence, now you can understand why it is not possible to use PayPal directly with a decentralised exchange. You need to store some tokens in your decentralised wallet before you can start using a decentralised exchange. This means you can indirectly use PayPal to buy the crypto and then use the same to fund your wallet before using the decentralised exchanges.

Best Bitcoin P2P Platforms to Buy Bitcoin With PayPal

P2P platforms connect users directly to buy and sell cryptocurrencies such as Bitcoin. In the table below, you can see the top 3 Bitcoin P2P platforms:

The P2P platforms above were chosen because they have the best reputation in the industry. Also, a wide number of payment methods and coins available on these platforms means you can buy Bitcoin or a range of other popular cryptocurrencies.

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 “Sign Up” 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 Bitcoin With PayPal

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.

eToro has been listed in the table above because it offers competitive fees, 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.

eToro App - Top Choice for User-Friendliness

	Name	Score	Visit	Disclaimer
	eToro	8.7	Visitetoro.com					Don’t invest unless you’re prepared to lose all the money you invest.

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 Bitcoin on eToro App With PayPal: 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 smartphone’s 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, it’s 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 Bitcoin

Once you have money in your eToro account, click on the Discover button in the bottom left-hand corner of the app’s homepage. Next, in the search bar, type Bitcoin 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 Bitcoin 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. The low minimum deposit of just $1 means users can get started with little investment. However, the residents of Australia cannot buy Bitcoin directly from PayPal yet.

You can buy Bitcoin on your PayPal app using your balance or a payment method like a credit/debit card or a bank account. The newly acquired crypto can be sold to fill up your PayPal balance, or you can send it to friends that are using the payment processor.

Should You Buy Bitcoin 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 it’s an app that is already on your mobile device.

Also, PayPal is a trusted company with decades of experience, so you can safely store Bitcoin on their 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.

Exchange or a CFD Broker: What Are the Differences?

Exchanges and CFD brokers provide methods of buying Bitcoin and speculating on its price, respectively, but there are important differences. We will explore them in the following section to help you determine if the method matches your requirements.

Buying Bitcoin With PayPal Using Exchange

Exchanges are centralised platforms where you can use funding methods like PayPal to purchase Bitcoin.

Trading Bitcoin With PayPal Using a CFD Broker

Bitcoin CFD brokers allow investors to bet on if the price of Bitcoin will increase or decrease over a specified time period. This transaction type does not provide ownership of the asset - it’s purely a speculative transaction.

Is It Worth Buying Bitcoin With PayPal in Australia?

In this section, we will provide our opinion on if you should use PayPal as a deposit method for buying Bitcoin 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 Bitcoin in Australia?

Transaction speed is an important factor to ensure you can get your hands on Bitcoin 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 Bitcoin in Australia?

PayPal is considered a safe method of buying Bitcoin 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 Trading Bitcoin With PayPal in Australia?

Now let us take a look at the fees when buying, selling or speculating on Bitcoin with PayPal.

Is Buying Bitcoin With PayPal Anonymous?

In most cases, buying Bitcoin with PayPal is not anonymous, as you will learn in the following section.

Can You Buy Bitcoin With PayPal Without Verification or KYC in Australia?

The majority of Bitcoin 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 Bitcoin without the need to use PayPal.

Can You Buy Bitcoin With PayPal Without Registration in Australia?

No, you will need to register an account with PayPal to enjoy using the payment processors for buying Bitcoin. Also, you will need to register with the platforms where you want to buy Bitcoin. For example, companies like LocalBitcoins have a lengthy registration process and a photo ID verification step before you can buy Bitcoin.

Reason to Buy Bitcoin With PayPal

When choosing a payment processor to buy Bitcoin, 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 Bitcoin 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 Bitcoin With Debit Card, Credit Card, or Amex in Australia

Buying Bitcoin 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 Bitcoin With Bank Transfer in Australia

Almost everyone has a bank account, which means you can put it to good use for buying Bitcoin. Banks are a relatively safe place to hold money because of the strict regulations. Some banks offer convenient mobile apps that simplify the process of buying Bitcoin while on the move.

Buy Bitcoin With PaySafeCard in Australia

PaySafeCard is a good option to buy Bitcoin if you do not have a bank account and want anonymity. No personal information is attached to PaySafeCard purchases, so you can buy Bitcoin without revealing your identity.

Buy Bitcoin With PayPal on Digital Wallets in Australia

Buying bitcoin with digital wallets typically requires a low number of steps, and the transactions are processed instantly. Most provide highly-rated mobile apps that come with intuitive user interface designs. Some of the top options include Apple Pay, Google Pay, Zelle, Venom, and Neteller.

What to Consider When Buying Bitcoin With PayPal

Before buying Bitcoin 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 Bitcoin after the purchase. Decide if you want to hold it on the platform or transfer it to a wallet for safekeeping.

• Amount: Bitcoin is relatively volatile compared to fiat currency. Therefore decide on the amount of Bitcoin that you are comfortable with buying.

Do All Platforms Accept PayPal to Buy Bitcoin in Australia?

PayPal is not available on all Bitcoin exchanges, which you should know about before registering an account to set the right expectations.

Should I Buy Bitcoin With PayPal?

In conclusion, buying Bitcoin with PayPal is possible on some platforms and provides a convenient option. However, the limited number of platforms that accept means it may not be the best option for many users.

Our top choice of places to buy Bitcoin with PayPal is eToro, as it provides free deposits, a demo account, and unique features like copy trading.

	Name	Score	Visit	Disclaimer
	eToro	8.7	Visitetoro.com					Don’t invest unless you’re prepared to lose all the money you invest.

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