Can you Buy Crypto with ANZ Bank?
Yes, ANZ Bank customers can invest in digital assets by utilising a safe and regulated cryptocurrency exchange in Australia. ANZ account holders can convert AUD to acquire crypto assets by opting for a reliable, ASIC-regulated platform. We recommend choosing an exchange that abides by ASIC or AUSTRAC guidelines to guarantee the security and protection of your investments.
How to Buy Crypto with ANZ Bank
ANZ customers can buy cryptocurrencies using a secure and regulated digital asset exchange. As stated above, the best option is the eToro platform. ANZ Bank account holders can deposit funds to eToro via POLi, Bank Transfer, Credit/Debit Card, Skrill, or PayPal.
Follow this step-by-step guide to get started:
- Create a free account on eToro and complete the sign-up process.
- Tap 'Deposit Funds’, pick a method, and send AUD from ANZ Bank.
- Head to the search bar, find your desired token, and click 'Trade'.
- Enter the amount you want to invest and tap the 'Open Trade' button.
What are the fees?
The fees to invest in Cryptocurrencies vary depending what digital asset exchange you use. If you use eToro, the fees are considerably lower than popular Aussie exchanges like CoinSpot. For example, CoinSpot charges fees to deposit AUD to their platform, whereas eToro does not charge any deposit fees. The only fee applied when buying Crypto is the trading (buy/sell) fee, which is a flat 1%.
Is ANZ Bank Crypto-Friendly?
Although, the bank does not currently support the buying, selling, or trading of cryptocurrencies through its platform, it does recognise the potential benefits and opportunities digital assets can bring to the financial landscape. ANZ is closely monitoring developments in this space and remains open to exploring potential partnerships in the future. It is considered a crypto-friendly bank.
Nothing stated in ANZ’s banking policies would prohibit its users from investing in digital assets. Furthermore, there have been zero reports of users' funds being frozen when transferring AUD to a secure crypto exchange. In the meantime, customers can access their cryptocurrency holdings through ASIC-regulated third-party providers like eToro.
In conclusion, ANZ does not offer direct cryptocurrency investment services through its bank. However, its customers can access digital assets through regulated third-party exchanges such as eToro. eToro is a multi-asset exchange that supports over 3000 assets across six asset classes. It offers free and instant AUD deposits for ANZ customers to buy and sell crypto.