POLi is an Australian payment method owned by Australia Post. It allows you to make instant purchases using your bank account. Bank transfers usually take a couple of days, but when you pay by POLi the entire process is instant.
Bitcoin is a hugely volatile currency. And if your payment method takes days to clear, by the time you’ve purchased the Bitcoin, the market will have moved on. That’s why POLi makes a lot of sense for buying Bitcoin.
Buying Bitcoin with POLi
The place to buy Bitcoin with POLi is through CoinSpot. I’ve been using CoinSpot for the past 12 months, and found it to be an excellent exchange.
Buying Bitcoin with PoLi on CoinSpot is really easy, here’s how:
- Join CoinSpot for Free
- Complete verification – this is fairly painless and completed quickly.
- Deposit via PoLi
- Buy Bitcoin!
It really is that simple.
Fees and Limits
Depositing via PoLi on CoinSpot is completely free. There is a fee when you actually buy Bitcoin. This fee is inline with what other exchanges charge. I compared buying similar amount across Australian exchanges, and the amounts come out to be pretty similar.
There is a daily deposit limit of $10k via POLi. Most people aren’t going to have any issue with this!
Buying Alt-Coins with POLi
As well as Bitcoin, Coinspot offer dozens of other coins that you can buy. These include all the big popular coins such as Litecoin, Ethereum and Ripple and lots of more obscure coins. So if you’ve been thinking about investing in Altcoins, then CoinSpot is perfect for this.
What I like about Coinspot:
A quick overview of what I like about trading cryptocurrency on Coinspot:
- Secure – They have a good reputation and offer 2 factor authentication via Google Authenticator.
- POLi – obviously! Allows me to make instant purchases
- Cloud Wallets – Easily store Bitcoin and all your altcoins in the cloud. You can easily send and receive Bitcoin, so you can use it for purchases, gambling etc etc.
- New coins added regularly – Coinspot is continuously adding new coins. They are quite selective about what they add.
- Great interface – Coinspot has a great interface that is easy to use. Much better than most exchanges.