Can I buy Bitcoin on BOQ?

As stated above, it is not possible to buy Cryptocurrencies directly through the Bank of Queensland. If BOQ customers want to invest in the asset class, they must deposit AUD from their accounts or card to a secure and trusted exchange in order to buy Cryptocurrencies. CoinSpot is a licensed digital asset exchange in Australia that supports a wide range of tokens and the lowest trading fees in the country.

How to buy Crypto with Bank of Queensland

The most secure and cost-effective way to invest in Cryptocurrencies with BOQ is by going through the regulated exchange, CoinSpot. Bank of Queensland customers can securely deposit AUD through a variety of payment methods including Bank Transfer, Osko, Credit/Debit Card, PayID, POLi, BPAY, or Cash.

BOQ customers can begin trading 470+ tokens with this easy guide:

  1. Open a free account on CoinSpot and complete the sign-up process.
  2. Click ‘Deposit Funds’, select a method, and deposit AUD from BOQ.
  3. Head to the 'Markets' or 'Buy/Sell' tab and find the token you want to buy.
  4. Input the amount of AUD you wish to invest and click the 'Buy' button.

Is BOQ Crypto-Friendly?

Yes, the Bank of Queensland (BOQ) has taken a positive stance on Cryptocurrency, recognising the growing demand for digital assets among its customers. While BOQ does not provide direct access to Cryptocurrency investing, the bank acknowledges that Crypto is a legitimate investment option.

BOQ allows for their users to freely send and receive funds to regulated and AUSTRAC-licensed digital asset exchanges. There is nothing stated in the bank's policies or terms that would prohibit customers from investing in Cryptocurrency.

‍What are the fees to invest in Cryptocurrency?

When buying Crypto through a digital asset exchange like CoinSpot, the fees are relatively low. This is because CoinSpot offers multiple free AUD deposit methods for BOQ customers including Bank Transfer, Osko, PayID & POLi. There is however a 0.9% fee for BPAY, a 2.5% fee for cash, and a 2.58% fee for card deposits. As for trading fees, they vary from 0.1% to 1% depending on your trading method.

Our team of experts compared CoinSpot with other popular Australian exchanges like SwyftX and eToro and found that its fees were considerably lower. For example, SwyftX has a 0.6% fee and 1% - 2% spread for trading, and eToro also has a 1% fee and 2% spread for trading. We discovered that it was much higher than CoinSpots fees, which is one of the reasons we picked it as the best option.

About Bank of Queensland

‍Bank of Queensland (BOQ) is an Australian financial institution based in Queensland that provides a range of banking services to customers, including personal banking, business banking, and insurance services. The bank has a long history dating back to 1874 and has grown to become one of the largest regional banks in Australia, with over 160 branches and more than 2,000 employees.

BOQ is committed to providing its customers with a personalised banking experience and offers a range of products and services to meet the needs of its customers. These include home loans, credit cards, personal loans, savings accounts, and more. In addition to traditional banking services, BOQ also offers digital banking services, allowing customers to access their accounts online or via mobile devices.

Bottom Line

After finishing a thorough analysis of multiple trading platforms in Australia, our team has determined that CoinSpot is the best digital asset exchange for Bank of Queensland (BOQ) customers. CoinSpot is the recommended platform for BOQ customers, as it supports trading and staking on 370+ Cryptocurrencies, 24/7 customer support, and the lowest trading fees in Australia.