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How to buy Bitcoin with Afterpay in 2023
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Firstly, the most important question to answer is: can I buy Bitcoin with Afterpay?
No, Afterpay doesn’t allow you to purchase cryptocurrency. However, you can use Afterpay to fund a trading account and buy Bitcoin that way.
You just need a crypto exchange that accepts Afterpay deposits. And we’re here to help.
How to buy Bitcoin with Afterpay – a step-by-step guide
It takes about 15 minutes to buy BTC with Afterpay. Have a copy of your photo ID to hand and follow this guide to get started.
Step 1. Sign up with eToro
We recommend eToro as the best platform to use to buy BTC with Afterpay.
Step 2. Create an account
You need an account before you can buy anything. Sign up with your contact details and a form of ID for verification.
Step 3. Make a deposit via Afterpay
Enter how much you want to deposit and select Afterpay as your payment method from the list of options.
Step 4. Use the search box to find Bitcoin
Use the search box on the home page to search for Bitcoin and the currency you want to pay in (such as GBP).
Step 5. Make your purchase
Enter how much Bitcoin you want to buy, check the details and process the transaction. Once the payment goes through, your new Bitcoin will show up in your exchange account.
Top Bitcoin platforms that accept Afterpay
1. eToro. Best for beginners, copy-trading & demo-account
Pros & Cons
We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.
As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.
The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.
2. Public. Best for sharing beginner trading ideas
Pros & Cons
We love Public because it’s a social platform where you can share trading tips and get ideas from other people. Public offers 9,000+ financial instruments, including cryptocurrencies and stocks from around the world.
Alongside a community of other investors all sharing their ideas, Public offers real time news and information so that you can see the full picture before you invest. And the assets don’t just include your run-of-the-mill assets; you can make alternative investments in things like handbags and comic books as well.
The fees: Cryptocurrency trades are charged a 2.5% fee per transaction.
3. Bitstamp. Best for professionals & trading with APIs
Pros & Cons
We love Bitstamp because it’s one of the original crypto exchanges and keeps 95% of all assets in offline cold storage. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand.
Bitstamp was one of the first crypto trading platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on the fact the exchange hardly ever experiences any downtime and offers a sliding scale of fees so that high volume traders get the best rates.
The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.
Quick answers to key questions
Can I buy crypto with Afterpay?
Yes, you aren’t limited to buying Bitcoin alone. The only limit is which coins are available on the exchange you’ve chosen. Most crypto exchanges that support Afterpay as a payment method offer 50+ cryptocurrencies and many offer hundreds more.
Is Afterpay safe?
Yes, it’s completely safe to use Afterpay. The only risk to look out for is to make sure you sign up to a regulated Afterpay Bitcoin broker when buying Bitcoin. Using an unregulated broker platform can put your money at risk.
How much does it cost to buy Bitcoin via Afterpay?
The only cost is the trading fees, which are between 1-2% with most crypto brokers. There’s no additional fee for using Afterpay, and it does not charge any interest.
The caveat is that you must obviously pay each of the instalments in time. You will be charged a late fee of up to 25% of the order value if you miss a payment.
Can I store Bitcoin in my Afterpay account?
No, Afterpay is a buy now, pay later (BNPL) platform, not a crypto wallet.
However, that might change in the future. Jack Dorsey’s crypto-friendly company, Block, acquired Afterpay in 2021, and the long term goal is to link it to another of his companies, Cash App, which does allow you to buy and hold Bitcoin.
For now, though, it’s impossible to hold Bitcoin in your Afterpay or Clearpay account.
Why don’t more crypto platforms support Afterpay?
Many do, because you can link your Afterpay/Clearpay account to Google Pay or Apple Pay and use that to make a deposit.
Should I buy Bitcoin using Afterpay?
It can be a good way to spread the cost of your Bitcoin purchase out over a few weeks. You can buy as soon as you see an opportunity, rather than having to worry about whether you can afford the whole cost right now.
However, be very careful when buying crypto this way. BNPL is a useful tool for occasional purchases, but don’t rely on it. Buying volatile cryptocurrencies on credit can be dangerous and you must always make sure you can make your payments on time to avoid very costly fees.
Here are some of the pros and cons of using Afterpay.
- Spread the cost of buying Bitcoin out over a series of instalments
- Zero interest Bitcoin purchases
- As it’s owned by Block, Afterpay is likely to add more crypto options in future
- Can link Afterpay to your Apple/Google Pay wallets to buy Bitcoin easily
Is there an alternative to buying cryptocurrency with Afterpay?
There are plenty of alternatives, whether you want to pay through an online payment provider or go down a more traditional route. Here are some of the different ways to pay for your Bitcoin purchase.
- Buy Bitcoin with Afterpay
- Buy Bitcoin with American Express
- Buy Bitcoin with Apple Pay
- Buy Bitcoin with bank transfer
- Buy Bitcoin with cash
- Buy Bitcoin with Cash App
- Buy Bitcoin with Discover Card
- Buy Bitcoin with gift card
- Buy Bitcoin with Google Pay
- Buy Bitcoin with Neteller
- Buy Bitcoin with Payoneer
- Buy Bitcoin with PayPal
- Buy Bitcoin with Paysafecard
- Buy Bitcoin with Paytm Wallet
- Buy Bitcoin with Revolut
- Buy Bitcoin with Skrill
- Buy Bitcoin with Swish
- Buy Bitcoin with Venmo
- Buy Bitcoin with Zelle
- Buy Bitcoin with Zippay
Yes, you can buy Bitcoin with Afterpay on Coinbase.
Yes, you can buy Bitcoin with Afterpay on Cash App.
Go to the account settings to make a deposit. Enter the details and choose Afterpay from the list of payment options. If it is available, you’ll then be asked to add your Afterpay account details before confirming the payment.
Yes, you receive your Bitcoin as soon as you pay. It’s merely the cost that is spread out over a few weeks.
No, you must provide ID to set up an Afterpay account. When you buy Bitcoin on credit, you have to give up some of your privacy.
Yes, through its European/UK brand name, Clearpay. Look for both names when you’re searching through the different payment methods.
Yes, through its European brand, Clearpay. It’s worth checking for both names under the accepted payment methods on your crypto exchange.
Yes, Clearpay is the European brand name for Afterpay. Afterpay is the brand name it uses in Australia, as well as North America. It’s the same company, and you may see it referenced by both names on your crypto exchange.
More ways to buy cryptocurrency
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