While US residents are able to purchase Bitcoin (BTC) through the PayPal app, Australian residents are not currently able to do that.
So while you can't use the PayPal app to buy Bitcoin directly, you can still use it as a payment method to buy Bitcoin on a few crypto trading platforms in Australia.
Where to buy Bitcoin with PayPal in Australia
Here's a list of some of the platforms that let you buy Bitcoin with PayPal in Australia.
All of the trading platforms in our list support free PayPal deposits, have been vetted by Finder and are registered with AUSTRAC or ASIC.
Why don’t more exchanges offer PayPal?
This is mainly due to one simple fact: PayPal supports chargebacks, which is a problem when purchasing cryptocurrencies.
This is because Bitcoin and other crypto transactions are irreversible.
As a result, someone could theoretically buy Bitcoin with PayPal, complain that they never received the BTC they purchased and ask for a chargeback. That way scammers can keep their money and essentially get Bitcoin for free.
Because of this heightened risk of fraud, there are only a handful of crypto trading platforms and exchanges that accept PayPal deposits.
Is there any risk buying Bitcoin with PayPal?
There are always risks involved with buying and selling Bitcoin, but none specific to using PayPal as a deposit method.
Once you've purchased your Bitcoin, consider moving it off the platform you bought it on and into a non-custodial wallet to reduce counter-party risks.
Pros and cons of buying crypto with PayPal
If you already have a PayPal account, payment is quick and convenient
Safe and secure payment method
Allows you to buy crypto with Australian dollars (AUD)
Only supported by a small number of platforms
May not be able to withdraw your funds back to your PayPal account
Foreign exchange fees apply on some platforms
"While it can be convenient to buy crypto using PayPal, depending on the platform, it's not always the cheapest option. Make sure to compare deposit method costs and remember that PayPal may also charge a currency conversion fee. "
No, Coinbase does not currently accept PayPal transfers. At the time of writing, the only supported payment methods for Australian buyers are debit card or bank deposit.
Not really. While there are some platforms that allow you to buy cryptocurrency without providing any proof of ID, PayPal isn’t an anonymous payment method. This is due to the fact that you’ll need to fund your PayPal account from a linked bank account or credit card, which will in turn be linked to your identity.
Yes. One option is to sell Bitcoin through a peer-to-peer marketplace that accepts PayPal, such as LocalBitcoins or Paxful, or place a trade on an exchange like VirWox. Another alternative is to use an exchange where you can sell Bitcoin for AUD, then withdraw your dollars to the credit card or bank account linked to your PayPal balance.
No, you can’t fund your PayPal wallet with Bitcoin and BTC cannot be stored in your PayPal wallet. Your BTC will instead need to be held in a dedicated cryptocurrency wallet.
Yes, there are several crypto exchanges that offer fiat-to-crypto trading and accept deposits via bank account transfer, BPAY, POLi Payments, credit card, debit card and even cash.
PayPal now offers the ability to purchase Bitcoin and several other cryptocurrencies through the PayPal app, however, this feature is not available to residents outside of the US. PayPal has not announced any plans to rollout the feature in Australia.
You cannot buy Bitcoin or any other cryptocurrency directly with PayPal if you're an Australian resident. However, US citizens now have this option.
As you can't buy Bitcoin directly with PayPal in Australia, it does not charge any fees. However, if you're topping up your trading platform with PayPal in order to buy Bitcoin, you may get charged a currency conversion fee if the account is not in AUD.
Sources
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
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To make sure you get accurate and helpful information, this guide has been reviewed by
Kylie Purcell, a member of Finder's
Editorial Review Board.
James Edwards is a seasoned cryptocurrency expert and content creator with over a decade of experience in blockchain, DeFi and Web3. An early adopter of Bitcoin, he has contributed to major outlets like Nasdaq, CoinDesk, and The Street, and has reported at leading industry events such as TechCrunch Disrupt and CoinDesk Consensus. James has produced over 200 YouTube videos, including interviews with influential figures like Changpeng Zhao (CZ) and Tim Draper, and holds a Bachelor of Liberal Arts & Sciences in Psychology from the University of Sydney, along with a Tier 1 Generic Knowledge certification in compliance with ASIC standards. James created cryptocurrency content at Finder as a video producer, writer and editor from 2018 to 2023.
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Buy Bitcoin in Australia with your preferred payment method and find the lowest fees in this step-by-step guide.
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