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How to Buy Bitcoin With Afterpay in 2024

By Rebecca Campbell - Updated 22 May 2024
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Afterpay is one of the big “buy now, pay later (BNPL)” companies out there, and now crypto enthusiasts can take advantage of their payment method services to buy Bitcoin and other cryptocurrencies.

If you want to fund your Bitcoin wallet using Afterpay, this article is for you. We’ve compiled all the information you want to know about buying Bitcoin with Afterpay from how to buy Bitcoin with Afterpay to how to know if Afterpay is the right financing option for you.

We’ll start with the most pressing question you have: Does Afterpay allow users to buy Bitcoin? The answer is no. You cannot directly buy crypto on Afterpay. However, you can fund your trading account with Afterpay and then buy Bitcoin.

Before we go further, here’s a quick summary of what you should know about buying Bitcoin with Afterpay:

  • You can’t buy crypto directly on Afterpay; at least for now
  • You can fund exchanges with Afterpay

Let’s see how this is possible…

How To Buy Bitcoin With Afterpay

1. Choose A Platform

The first thing to do is to choose a platform. Keep in mind that the platform you choose should be reliable to avoid any future complications. We’ve done all the heavy lifting for you and have created a list of reliable platforms.

Visit the websites of any of them and click on the sign-up button. Follow the instructions and submit all required information. You might need to verify your email address and phone number.

1
Min Deposit
$ 100
User Score
5
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Visit Site
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2
Min Deposit
$ 100
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
3
Min Deposit
$ 10
Promotion
User Score
4.7
Offers an intuitive and easy-to-navigate platform, making it accessible for both novice and experienced traders
Global audience, providing various deposit options and allowing users to cash out directly to their bank accounts
Cold storage for funds and two-factor authentication to ensure the safety of users’ assets
Visit Site
Description:
Bitstamp, established in 2011, is a pioneer in the cryptocurrency exchange world, offering a secure and straightforward platform for trading a variety of digital currencies. It’s known for its user-friendly design, robust security measures, and global reach, making it a preferred choice for crypto traders worldwide.
Payment Methods:
Apple Pay, Bank Transfer, Credit Card, Cryptocurrencies, Debit Card, Google Pay, SEPA
Full Regulations:
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong

2. Fund Your Account With Afterpay

After you sign up, the next step is verification. You’ll need to submit some documents and once you’ve been verified, you can deposit and use your account. Go to the deposit page. Enter the amount you want to deposit and click on deposit.

3. Buy Bitcoin

Once the money has entered your wallet, you can then buy Bitcoin. Simply, find the trading pair for your currency and BTC. For example, if you deposited dollars, find a dollar and BTC pair. Type in the amount you wish to purchase and execute the transaction by clicking “Buy”. Your BTC would be sent to your account as soon as possible.

Table of Contents

Where to Buy Bitcoin With Afterpay

Trading platforms and cryptocurrencies abound where you can buy BTC with Afterpay. Which of the crypto platforms you choose to patronise may be purely preferential. However, we’ve curated a list of some of the best platforms to buy Bitcoin below:

1
Min Deposit
$ 100
User Score
5
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Visit Site
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
2
Min Deposit
$ 100
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA
3
Min Deposit
$ 10
Promotion
User Score
4.7
Offers an intuitive and easy-to-navigate platform, making it accessible for both novice and experienced traders
Global audience, providing various deposit options and allowing users to cash out directly to their bank accounts
Cold storage for funds and two-factor authentication to ensure the safety of users’ assets
Visit Site
Description:
Bitstamp, established in 2011, is a pioneer in the cryptocurrency exchange world, offering a secure and straightforward platform for trading a variety of digital currencies. It’s known for its user-friendly design, robust security measures, and global reach, making it a preferred choice for crypto traders worldwide.
Payment Methods:
Apple Pay, Bank Transfer, Credit Card, Cryptocurrencies, Debit Card, Google Pay, SEPA
Full Regulations:
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong

Pros and Cons of Using Afterpay to Buy Bitcoin

Pros

  • You can invest in cryptocurrencies and pay in instalments.
  • No application fees when signing up and no interest rates on the staggered payments.
  • Afterpay links to Google Pay and Apple Pay wallets for stress-free Bitcoin purchases.
  • Setting your account up is easy and you can start using the service immediately.
  • Afterpay is owned by Block and Jack Dorsey, CEO of Block, who plans to add more crypto options in the future.

Cons

  • Afterpay charges a fee for late and missed payments. Too many missed payments can add up to a huge amount of costly fees.
  • Afterpay doesn't support many crypto purchases and has limited crypto functionality at the moment
  • Relying on the ‘buy now, pay later’ model can encourage impulse spending and lead to debt

What is Afterpay?

Afterpay is a digital payment system that enables customers to purchase items when they want to, without having to worry about the cost. The customers then pay for their purchases in installments over a short period of time, a repayment business model known as ‘buy now, pay later’.

The company was founded in Melbourne, Australia in 2015 and allows users of the platform to pay for their items in equal installments. All customers who pay on time are not liable for any additional charges, however, if a customer is late in making payment, they will be subject to interest fees.

 

Is Buying Bitcoin With Afterpay Right for Me?

AfterPay offers an excellent service by letting people purchase Bitcoins with the Afterpay app and pay later in instalments. It relieves the pressure of paying for your Bitcoin and other crypto purchases at once and allows people who may only have part of the amount to invest.

Their staggered payment plan with zero interest is one major benefit an Afterpay account has over credit cards and ensures that if you pay on time, you won’t have to pay anything extra in the long run.

All these services and benefits are fantastic but are they perfect for you?

That’s a question you’ll have to answer for yourself but we can help you with a few guiding factors to consider.

1.Your Spending Habits

A BNPL service is great but not when you have poor spending habits. If you struggle with impulse buying, or other poor spending habits, using a service like Afterpay as a payment method can encourage you to develop more damaging habits. You may enter into further debt if you can’t afford to pay on the due dates. On the flip side, people who make healthy financial decisions will benefit from the ease of payment options Afterpay offers.

2.Your Repayment Habits

For Afterpay to work for you, you need to have good payment habits. The Afterpay platform  might not charge you interest for the instalment payments but if you pay late or skip their warning period, they charge an extra late fee. This wouldn’t be a problem if you have healthy money payment habits. If you can’t afford to pay 25% upfront and the rest over two weeks, Afterpay may not be the best BNPL option for you.

The payment option services offered by Afterpay are beneficial to everyone but if your spending and payment habits are not ideal, you’re better off using another option to avoid going into debt.

Is Buying Bitcoin With Afterpay Safe?

Yes, buying Bitcoin with Afterpay is safe. To start with, Afterpay employs a high level of cyber security measures to protect its users’ data. So, you can be certain, your data won’t fall into the wrong hands.

The only other risk in using Afterpay lies in the user and the third-party exchange platform. As long as you use a regulated exchange account platform, you won’t run into any problems. We recommended a few regulated Bitcoin exchanges above that you can use for safe transactions of digital assets.

Lastly, users have a part to play in their safety while using Afterpay. There is a risk of debt and incurred fees when using Afterpay. To avoid these risks, you should pause using Afterpay if you don’t have regular income to pay off your instalments or control your spending.

Can You Buy Bitcoin With Afterpay?

Yes, you can. You can buy Bitcoin with Afterpay, but not as a direct purchase on Afterpay, but as a payment channel on a crypto exchange.

Purchasing Bitcoin through Afterpay requires a trustworthy exchange that accepts Afterpay deposits. Be careful choosing a trustworthy crypto exchange. You can choose an exchange from the list above.

Fees for Buying Bitcoin With Afterpay

There aren’t any extra fees for buying Bitcoin with Afterpay. The only cost is two standard fees and these are – trading fees and the cost of the Bitcoin you want to purchase.

The standard trading fees remain the same at 1-2% and when you buy with Afterpay, you won’t need to pay any interest fees like you would if you used a credit card.

Outside the 25% deposit on the Bitcoin, and the 4-part instalment pay spanning two weeks, there are no hidden or extra fees to buy crypto with Afterpay.

Fees  Fee Breakdown
Trading Fees  1-2% 
Afterpay Fees  Upfront 25% and two-week instalments of the remaining 75%
Interest Fees  No interest fees

What are the Alternative Methods to Buy Bitcoin?

Using Afterpay is still a relatively new option for purchasing Bitcoin. There are so many other options if you don’t want to use Afterpay. From traditional to non-traditional, we’ve compiled a list of other safe options for buying Bitcoin and how to use them.

FAQs

Is it easy to buy Bitcoin with Afterpay?
Yes, it is easy to buy Bitcoin with Afterpay. The process is short and easy to follow.
Can I buy other cryptocurrencies with Afterpay?
Yes. With Afterpay, you can buy other cryptocurrencies apart from Bitcoin.
Can I buy Bitcoin with Afterpay instantly?
Yes, you'll receive the Bitcoin you want to purchase as soon as you pay with Afterpay. However, you'll pay the balance in instalments spread out over two weeks.
Can I buy Bitcoin with Afterpay anonymously?
No, you can't. If you using Afterpay, you'll be required to provide identification documents. You can't purchase Bitcoin anonymously with Afterpay.