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How to buy Bitcoin with POLi in 2023

This introductory guide explains how to buy Bitcoin with POLi. Follow our simple three step guide to make your first purchase.

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Updated: May 25, 2023

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Firstly, the most important question to answer is: can I buy Bitcoin with POLi?

No, POLi doesn’t allow you to purchase cryptocurrency. However, you can use POLi to fund a trading account and buy Bitcoin that way.

You just need a crypto exchange that accepts POLi deposits. And we’re here to help.

How to buy Bitcoin with POLi – a step-by-step guide

It takes about 15 minutes to buy BTC with POLi. Have a copy of your photo ID to hand and follow this guide to get started.

Step 1. Sign up with InstaForex .

We recommend InstaForex as the best platform to use to buy BTC with POLi.

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 POLi.

Enter how much you want to deposit and select POLi 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 POLi

Quick answers to key questions

Can I buy crypto with POLi?

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 POLi as a payment method offer 50+ cryptocurrencies and many offer hundreds more.

Is POLi safe?

Yes, it’s completely safe to use POLi. The only risk to look out for is to make sure you sign up to a regulated POLi 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 POLi?

The average fee is about 1% of the total transaction amount with a maximum of $3 per transaction. The exact fee is different, depending on which broker you use, but anything more than 2% is expensive.

Can I store Bitcoin on my POLi account?

No, POLi is a payment processing service and you cannot store Bitcoin on it. The two easiest ways to keey your cryptocurrency safe are storing it on the exchange you used to buy it, or transferring to a dedicated Bitcoin wallet.

Why don’t more crypto platforms support POLi?

POLi is an online payments company that is based in Australia. It only accepts customers that are located in Australia and New Zealand. Crypto platforms that accept users from Australia and New Zealand such as eToro, accept POLi. Platforms that do not accept users from these countries, are unlikely to accept POLi as a payment method.

Should I buy Bitcoin using POLi?

Yes, POLi is a convenient and easy way to buy Bitcoin. Buying Bitcoin with POLi is much faster than other methods and payments can be made directly from your bank account. Usually, your payment is processed instantly.

The POLi system has a large range of banking partners in Australia and New Zealand. This means you will be able to buy Bitcoin and make deposits if you are resident in either of these countries. Here is a summary of the pros and cons of buying Bitcoin with POLi.

Pros

Payments can be made directly from your bank account
Funds are transferred almost instantly
Transaction fees are cheaper than other methods

Cons

Only available to users in Australia and New Zealand
Few crypto platforms accept POLi

Is there an alternative to buying cryptocurrency with POLi?

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.