Paid By Coins review – 2022

Pay your bills online using 5 leading cryptocurrencies.

Paid By Coins is a bill payment service that lets you pay Australian bills through a choice of 5 prominent cryptocurrencies. It's designed for the payment of any bill featuring the BPAY logo or that requires you to transfer funds to an Australian bank account.

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Name Paid by Coins Cryptocurrency Bill Payment Platform
Spread ~2.76%
Platform fees Spreads dynamically calculated based on current exchange rate
Bill types BPAY
Credit card
Bank account
Processing times 1 hour payment processing before COB


  • Simple and straightforward to use
  • Competitive spreads and no extra fees
  • Quick and easy way to use your crypto in the real world
  • Supports several popular cryptocurrencies


  • Other bill payment services support a wider range of coins
  • $2,000 transaction limit for cryptos other than BTC and ETH
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

How does Paid By Coins work?

Paid By Coins is an Australian cryptocurrency bill payment service that lets you pay bills with 5 digital currencies:

  • Bitcoin
  • Ethereum
  • XRP
  • Bitcoin Cash
  • Litecoin

How it works is straightforward:

  1. Select the cryptocurrency you want to pay your bill with.
  2. Provide the details of your bill, including the payment amount and either the biller's bank account information or BPAY details.
  3. Paid By Coins provides you with a cryptocurrency wallet address where you can transfer the required amount of digital coins or tokens.
  4. Paid By Coins converts your cryptocurrency into Australian dollar (AUD) and pays the bill on your behalf.

Paid By Coins is a venture of the Lakeba Group, a Sydney-based tech company established in 2013. The bill payment service is also a member of the Australian Digital Commerce Association (ADCA).

What can you use it for?

Paid By Coins can be used to pay any bill that either:

  • Features the BPAY logo; or
  • Requires payment to any Australian bank account

This means you can use the service to pay a wide range of everyday bills, including:

  • Credit card
  • Council rates
  • Car rego
  • Insurance premiums
  • Electricity and gas bills
  • Phone and Internet bills
  • Rent

Rates and fees

Paid By Coins does not charge any transaction or payment fees. However, the service makes a profit on the spread, which is the difference between the price at which Paid By Coins buys and sells cryptocurrency. To get a true idea of how much it costs to pay a bill through this service, you'll need to check how the exchange rate you're quoted compares to the current market rate.

Paid By Coins says that it dynamically calculates the current exchange rate in real-time to make sure you get the best exchange rate.

Example: How do I work out how much it costs to use Paid By Coins?

As Paid By Coins doesn't charge any transaction fees, you'll need to check the exchange rate the service offers you to find out how much it'll cost you to pay a bill.

To do this, head to the Paid By Coins website and enter the details of the bill you want to pay. Once you've chosen your desired cryptocurrency, verified your email address and set up a 3-digit PIN, you'll be shown the exchange rate for your transaction.

For example, on 4 September 2018, the price of bitcoin was AUD$10,110.61. On the same date, Paid By Coins quoted us an exchange rate of 1 BTC = AUD$9,799.77. This means the platform charges a spread of approximately 3%. Compare this with the spreads of other bill payment services to find out whether it represents good value for money.

* This is a fictional, but realistic, example.

Transfer times and limits

If you make a payment before 5pm on a business day, the payment will be sent on the same day. However, payments made after 5pm or during weekends will be received on the next business day. Please note that payment processing can take up to an hour in some cases.

The minimum bill amount you can cover using Paid By Coins is $30, while a $50,000 maximum limit applies to BTC and ETH transactions. A maximum limit of $2,000 applies when transacting other cryptocurrencies.

Where can you use this platform?

Paid By Coins allows Australian users to pay Australian bills.

Security and privacy

Paid By Coins says that all transactions completed through its platform are entirely secured by crypto payments service Quixxi. It also promises that all information is kept confidential. You can also find the Paid By Coins privacy policy at the bottom of its website. Other than that, there's limited information provided about the security features on the platform.

Pros and cons


  • Simple and straightforward to use
  • Competitive spreads and no extra fees
  • Quick and easy way to use your crypto in the real world
  • Supports several popular cryptocurrencies


  • Other bill payment services support a wider range of coins
  • $2,000 transaction limit for cryptocurrencies other than BTC and ETH

How to get started with Paid By Coins

If you've compared Paid By Coins with other bill payment services and decided that this is the right platform for you, click through to the Paid By Coins website to start the payment process. After entering the details of your first bill, you'll need to enter your email address and create a 3-digit PIN. Once you've verified your email address, you'll be shown the amount of digital currency you need to send and the correct transfer address.

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Images: Shutterstock, Paid By Coins

Disclosure: At the time of writing, the author holds ADA, ICX, IOTA and XLM.

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