A Complete Guide on Using BPAY to Purchase Bitcoin

As a cryptocurrency specialist, I recognise the value of locating simple and safe ways to purchase Bitcoin. In Australia, BPAY, a well-known payment facilitation service, provides a quick and easy way to have your invoices sent right to your online banking account. Although BPAY is mostly used for paying bills, it can also be used to buy Bitcoin on specific cryptocurrency exchanges. Let’s look at some of the major BPAY-accepting Bitcoin exchanges in 2023:

(Recommended) Swyftx

(Recommended) Swyftx

The most popular cryptocurrency exchange in Australia is Swyftx, which has a user-friendly layout for both novice and experienced investors. The site distinguishes out for its wide variety of features that make investing in Bitcoin transparent and reasonable.

Australian users will have a flawless transaction experience thanks to this exchange’s support for local deposit choices. Swyftx offers cost-effective trading solutions with minimal trading fees of just 0.6 percent every deal. Additionally, their top-notch mobile app and 24-hour customer service enhance the user experience.

Swyftx was developed to address the liquidity problems in global cryptocurrency trading marketplaces and to comply with the intricate tax and legal framework in Australia. Along with its streamlined and sophisticated cryptocurrency trading platform, Swyftx also provides full brokerage services to accommodate traders of all experience levels and corporate entities. Notably, Swyftx offers a dedicated cryptocurrency self-managed super fund, a feature that sets it apart from other Australian cryptocurrency exchanges and makes it simple for investors to set up accounts that are compliant with superannuation laws so they may access the cryptocurrency market.


Australian cryptocurrency exchange CoinSpot was founded in 2013 and has retained market dominance despite the arrival of rivals. By enabling consumers to acquire Bitcoin and more than 290 other cryptocurrencies with a single click, CoinSpot streamlines the purchasing process. There is no need to wait for talks with other dealers or e-commerce competitors, unlike peer-to-peer trades. For speedier transactions, CoinSpot keeps cryptocurrencies in its own wallets.

A user-friendly interface provided by CoinSpot makes it simple for beginners to discover the world of cryptocurrency. Advanced traders get access to extra technical analysis price chart windows. This function is available on the desktop and mobile apps for CoinSpot.

CoinJar CoinJar, established in 2013 in Melbourne, offers a simple way to purchase, swap, or sell Bitcoin using Australian dollars, New Zealand dollars, or US dollars. The transfer mechanisms PayID, BPAY, and Blueshift are all supported.


Through CoinJar, individuals can purchase Bitcoin, but SMSFs, corporations, and trusts are not allowed. The website provides a mobile app that makes buying Bitcoin simple. Similar to the majority of cryptocurrency exchanges, CoinJar allows funding from Australian local bank accounts. Bitcoin deposits are needed for users who are located outside of Australia. After funding your account, you can purchase and sell cryptocurrencies.

CoinJar also offers brokerage services and supports crypto-to-crypto pairings. Once you’ve bought cryptocurrency, you can keep it in your CoinJar wallet or withdraw it to personal Bitcoin wallets. Through transaction fees, CoinJar makes money and offers real-time technical charts to assist in decision-making.

Since short-selling is not possible while trading Bitcoin and other cryptocurrencies on CoinJar, a longer-term strategy is advised. Platforms like Coinbase can be utilised for short selling.

Recognising BPAY

Recognising BPAY

In Australia, BPAY is a well-known payment facilitation service that makes it simple and secure for businesses to arrange payments. BPAY has been in use for more than 20 years and works with more than 45,000 Australian businesses, making it a popular option for processing payments. Customers can transfer money directly from their bank accounts to specified business accounts using this service. Savings accounts, check accounts, and credit cards are all acceptable forms of payment, however because of the fees involved, most consumers choose to use their savings accounts.