How to Buy Crypto with ANZ Bank

Summary: Unfortunately, ANZ does not support directly investing in cryptocurrencies through its online platform. The only way to buy crypto in Australia is through a secure digital asset exchange that is properly regulated and licensed to operate under Australian consumer laws.

Following a thorough investigation of over 40 trading platforms in Australia, our team has identified eToro as the best Cryptocurrency exchange for ANZ customers. Founded in 2007, eToro is the oldest trading platform in the world and is regulated in over 140 countries globally, including Australia, where it is licensed with ASIC.

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Website

Top Platform for ANZ Bank

5.0 out of 5.0 by Datawallet

eToro is the best option for ANZ Bank customers for several reasons including its wide selection of over 4000 assets, competitively low fees, regulatory compliance with ASIC, 24/7 multilingual customer support, various features like copy trading, plus much more.

Licensing & Regulation

Registered with the Australian Securities and Investments Commission (ASIC).

Available Assets

Buy and sell 90+ Cryptos an 3,000 other assets.

AUD Deposit Methods

POLi, Bank Transfer, Debit Card, Credit Card, PayPal, Skrill and more.

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.

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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.

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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%.

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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.

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Bottom Line

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.

Author

Tony Kreng

Lead Content Editor

Tony Kreng has an MBA in Business & Finance and has been writing as a financial analyst in traditional finance for over a decade. He is the lead content editor and fact-checker for the team at Data Wallet.