How to buy Bitcoin with PayID/Osko

By   |   Verified by Debbie Duncan   |   Updated 2nd March 2022

How to buy Bitcoin (BTC) with PayID + Osko
  • Buying Bitcoin in Australia is simpler, fast and cheap with PayID or Osko.
  • Many crypto exchanges and brokerages fully support PayID or Osko as a payment method to get AUD to Crypto.

Buying cryptocurrencies in Australia might have been a bit intimidating years ago, especially when little information about the process was available.

Crypto exchanges and brokers now have streamlined this process, with the aim of getting as many people into the world of crypto as possible. Specifically, over the past few years, we have seen a lot of exchanges allow users from Australia to buy buy Bitcoin using PayID or Osko.

With that in mind, here is a step-by-step guide to teach you everything you need to know about buying Bitcoin in Australia using PayID or Osko as an alternative to Bank Transfer, POLi, credit card, or debit card.

What is PayID or Osko?

Osko is a secure payment service by BPAY, which allows you to send and receive near real-time payments. PayID, on the other hand, is personal information, such as your phone number or email address, which is linked to your bank account and makes it possible for you to receive payments.

Once PayID is linked with Osko, you can simply provide PayID for payments instead of handing out your account number. When you want to buy Bitcoin on supporting exchanges, this can save you a lot of time and hassle, making it a recommended payment option.

Crypto exchanges that accept PayID or Osko

There are multiple exchanges that fully support and accept PayID or Osko as a payment option. These include the following options.


On Swyftx's website


  • Receive $10 worth of BTC when you sign up and verify your account.
  • Trade over 260 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
  • Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
  • New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.

On CoinSpot's website


  • Buy Bitcoin, Ethereum, XRP and over 360 other digital currencies.
  • Refer a friend and earn $10 BTC.
  • Get 24/7 helpdesk support.

On Cointree's website


  • Buy, sell and trade on Australia’s best crypto exchange - Get free $10 BTC after verification. Just use promo code 10BTC.
  • Secure, Safe & Easy - Trade 280+ cryptocurrencies, including Bitcoin, Ethereum, Ripple and Dogecoin
  • Crypto investing for your SMSF with detailed ATO compliant reporting – Get started in 5 minutes

On Coinbase's website


  • Buy and sell popular digital currencies, keep track of them in the one place.
  • Invest in cryptocurrency slowly over time by scheduling buys daily, weekly, or monthly.
  • Maintains crypto insurance and all USD cash balances are covered by FDIC insurance, up to a maximum of $250,000.

On CoinJar's website


  • Buy and sell digital currency on desktop and mobile devices with a flat 1% fee.
  • Buy digital currencies using your Visa or Mastercard with a low fee of 2%.
  • Set up price alerts so you never miss a well-timed opportunity.

Ultimately, you should look out for the deposit fees and the features available to you when you pick an exchange to use.

Banks that use PayID or Osko

There are many banks that use PayID or Osko, and to make things easier, we've created a list that you can review and follow:

  • ANZ
  • Australian Unity
  • Bank Australia
  • Bank of Melbourne
  • BankSA
  • Bankfirst
  • BankVic
  • Bankwest
  • Beyond Bank
  • BCU
  • Big Sky Credit Union
  • Bendigo Bank
  • Commonwealth Bank
  • Citi
  • Coastline CU
  • Catalyst Money
  • Community First CU
  • Credit Union SA
  • Great Southern Bank
  • Defence Bank
  • Endeavour Mutual Bank
  • Greater Bank
  • G&C Mutual Bank
  • HSBC
  • Heritage Bank
  • Hume Bank
  • ING
  • IMB
  • Macquarie Credit Union
  • ME Bank
  • MyState Bank
  • NAB
  • Newcastle Permanent
  • Orange Credit Union
  • P&N Bank
  • People's Choice Credit Union
  • Police Bank
  • Police Credit Union
  • Queensland Country Credit Union
  • RACQ
  • Comtax Credit Union
  • SCU
  • South West Credit Union
  • St.George
  • Teachers Mutual Bank
  • UniBank
  • Unity Bank
  • Warwick Credit Union
  • WAW Credit Union
  • Westpac

How to buy Bitcoin with PayID/Osko

Here is a step-by-step guide on how you can buy Bitcoin with PayID or Osko:

  • Step 1: Log into your exchange account.
  • Step 2: Select Accounts on the top page, and on the Account Balance table, click on Deposit.
  • Step 3: Find the PayID/Osko deposit option, where you will either see a unique PayID email address or a unique reference code.
  • Step 4: Open your Mobile Banking Application or Internet Banking web app and proceed to Pay Someone by Email Address.
  • Step 5: Paste the PayID email address of the exchange you are using, and enter the amount you would like to transfer. If you have a unique reference code, paste that into the “Description” section or “Message” field. If you are unsure where to enter the reference code, enter it across all tabs just to be sure.
  • Step 6: Once the transfer is successfully cleared from your bank, your AUD balance will be updated in the Account Balance section of the exchange. You can now use this balance to buy Bitcoin (BTC) on the exchange directly.

Pros and cons


  • Payments are nearly instant and you can transfer money in minutes.
  • It's simple to use as you do not have to remember your BSB and account number - you simply enter the number or email that you have set in the past.
  • BPAY fully backs Osko/PayID, and the receiver will get a confirmation for your payment.


  • Not every exchange will support Osko/PayID as a payment onramp option.
  • You will be required to submit documentation and confirm your identity in order to use this as a payment option.


There are many exchanges, brokerage, and banks that fully support Osko/PayID as a payment option, so by following this guide, buying Bitcoin (BTC) should be a hassle-free process.