Summary: Unfortunately, POLi Pay does not allow customers to trade cryptocurrencies on its platform directly. Instead, customers can use a third-party crypto broker to buy Bitcoin (BTC), Ethereum (ETH), and other crypto using their POLi Payments banking account.
To buy crypto with POLi Pay, we suggest using a reputable multi-asset investment platform eToro. After analyzing over ten popular trading platforms, we concluded eToro to be the best option, as the platform offers 80+ digital assets and low trading fees. Therefore, it is a cost-effective and safe option for POLi Pay customers.
Best Crypto Exchange for Intermediate Traders and Investors
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Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
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0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
Can you buy crypto with POLi Payments?
You can buy crypto with POLi Payments, but you need to connect to a licensed cryptocurrency exchange that accepts AUD through POLi Pay. As mentioned above, this is because POLi does not offer the buying and selling of cryptocurrency directly through its platform.
How to buy crypto with POLi Payments?
The best way to buy Bitcoin or any other cryptocurrency with POLi Pay in Australia is through a renowned broker like eToro, which is a widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as “Copy Trading,” which enables users to copy top-performing crypto traders, in addition to a custom watchlist, as well as advanced charts and technical analysis tools.
How to buy crypto with POLi: Step-by-Step
You can get started in minutes with four simple steps:
- Step 1: Create an account on eToro and complete your verification (personal or company);
- Step 2: Enter the AUD amount you wish to deposit on the eToro platform;
- Step 3: Log into your bank account through the POLi platform and deposit your selected fiat currency;
- Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.
Disclaimer: eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Crypto assets are unregulated and highly speculative. There is no consumer protection. You risk losing all of your capital. Refer to eToro’s Terms and Conditions. See full disclaimer.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Take 2 mins to learn more.
Best Crypto Exchange for Intermediate Traders and Investors
-
Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
-
0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
About POLi
POLi Pay is an online payment service in Australia and New Zealand. It enables customers to pay for goods or services directly from a merchant’s website or online store without needing a credit card but by using a direct connection to their internet banking. The service is free, and registration is not required. POLi Payments is a subsidiary of Australia Post.
POLi crypto policy
You can use POLi pay to deposit funds into regulated exchanges directly from your online banking portal. Conveniently, POLi doesn’t require registration, so none of your bank account information is stored, and POLi crypto customers can freely make crypto transfers to their preferred investing platform.
Therefore, POLi is a crypto-friendly bank with no limitations or bans on transferring funds to crypto exchanges. Furthermore, POLi is even offering their clients the opportunity to sign up with their POLi crypto payments service, a digital payments solution to facilitate customers to make digital currency payments.
How to buy crypto safely
Cryptocurrencies are still in their infancy and thus highly speculative and subject to extreme price volatility, making them much more unpredictable than traditional asset classes such as stocks or bonds. In addition, the crypto market seems particularly vulnerable to fraud and cybercrime, putting both seasoned and inexperienced investors at risk.
Furthermore, although cryptocurrency broker-dealers in Australia are required to register with AUSTRAC, ensuring anti-money laundering (AML) and counter-terrorism financing (CTF) procedures are in place, digital assets themselves are not regulated in Australia.
Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Let’s look at a few tips on what you should do when getting started with digital assets and how to best protect yourself and your money.
How to buy crypto safely – tips
- Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are;
- Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
- Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
- Secure your account: Use two-factor authentication and a strong password to protect your account;
- Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
- Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
- Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy crypto with POLi:
Can you buy crypto with POLi?
While POLi doesn’t offer crypto trading directly through its own platform, customers can use licensed third-party crypto brokers to buy digital assets by depositing AUD through POLi.
Can you buy Bitcoin with POLi?
Yes, POLi crypto customers can buy Bitcoin with their POLi bank account. However, the bank does not offer Bitcoin or any other crypto directly through its banking platform; therefore, POLi crypto customers can use a licensed third-party crypto broker by depositing AUD through POLi.
How to buy crypto with POLi Payments?
You can use the POLi interface to fund your trading account directly from your internet banking portal.
What is POLi's crypto policy?
POLi allows its customers to use its services to buy, sell and trade digital assets through regulated exchanges.
Best Crypto Exchange for Intermediate Traders and Investors
-
Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
-
0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
