How to Buy Bitcoin with PayID

PayID, offered by over 100 banks, credit unions, building societies and other organizations, is a unique identifier linked to your transaction account. Millions of Australians choose it because they can use their mobile number, email address, ABN, ACN or organization ID to receive fast payments. This means you don’t have to worry about sharing your BSB and account number. However, this tool is not only suitable for receiving but also for sending funds from bank accounts.

A Guide on How to Buy Bitcoin with PayID

Australians use it for personal and business transactions, including buying cryptocurrency. Therefore, PayID can also be used to purchase the well-known Bitcoins. Below we will explain how to buy via Pay ID crypto.

Setting Up Your PayID

In order to buy Bitcoins with PayID you should first set up your PayID account. To do this, open your bank's mobile app or website and go to settings. Please note that the setup process differs on all platforms: somewhere you will only need to activate PayID, and somewhere you will have to set it up yourself.

Choosing the Right Exchange: Platforms that Support Buying Bitcoin with PayID

The first step is done. You've set up your smart address for payments, such as your mobile number, email address, ABN or company name that can be securely linked to your bank account. Now it's time to choose a platform where you can buy Bitcoin with PayID.

Often beginners and experienced traders choose P2P exchanges to buy cryptocurrencies. After all, they are characterized by such parameters as:

  • Low fees: Compared to centralized exchanges, P2P exchanges usually have lower fees because they only need to cover the costs of transactions.

  • Absence of Intermediary: P2P exchange users can choose who they want to trade with and negotiate the terms of transactions, including price, payment method and other details.

  • Localized Services: Users can search and post offers within their region, local currencies and preferred payment methods.

  • Support for Numerous Payment Methods: When you buy Bitcoins with PayID, it's important to choose platforms that support a wider range of payment methods, including bank transfers, PayPal and other online payment systems. And as a rule, P2P exchanges fit these criteria perfectly.

How to Buy Bitcoin with PayID

Safely and Securely Purchasing Bitcoin with PayID

Don't go far and choose our Cryptomus P2P exchange to buy PayID crypto, because it meets all of the above characteristics. So let's not wait and find out how to buy Bitcoin and crypto PayID.

  1. Register on Cryptomus.com and pass 2FA and KYC-verification, to safely operate on the platform.
  2. Select the P2P trade wallet on the left side of your personal profile. You will be taken to a page where you can find out the address of your wallet and view the history of successful transactions. Next, click on Trade now.
  3. An exchange with current offers for buying and selling will open on the screen. You need to select an offer, fill in the details of the amount and payment method and click on Buy. Then you will be able to discuss with the seller and other terms of the transaction in the opened chat.
  4. After agreeing the deal, wait for payment confirmation and check your crypto wallet for Bitcoins.

Congratulations! You managed to buy crypto Payment ID.

How PayID Enhances Confidentiality in Bitcoin Purchases

PayID is a simple and inexpensive digital payment tool for receiving and making quick payments. Once set up, you can display your crypto PayID on your website and on your invoices, without the fear of your personal bank account details being in the public domain. To be more specific, you don’t have to worry about sharing your BSB and account number – you can just share your crypto Payment ID (your mobile number or email address). You can also give it to your cryptocurrency seller and increase the privacy and confidentiality of the Pay ID crypto transaction.

Tips on Successfully Buying Bitcoin with PayID

Follow these tips on how to buy Bitcoin with PayID:

  • Buy Bitcoins and crypto on safe and trusted exchanges;

  • Learn all the nuances of buying Pay ID crypto;

  • Get help from exchange managers if you have any questions about buying PayID crypto;

  • Once you buy Bitcoins, ensure their safe storage and do not disclose data about private keys and seed phrases;

  • Check the sellers' rating on the exchange and avoid suspicious merchants.

Well, we have come to the logical conclusion of our article on how to buy Bitcoin via PayID crypto solution. Thank you very much for reading. Share your thoughts below in the comments.

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