How to Buy Crypto with Bendigo Bank

Can I Buy Bitcoin with Bendigo Bank?

Yes, Bendigo Bank customers can transfer funds to Australian cryptocurrency exchanges to buy and trade assets like Bitcoin. Choosing an investment platform registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) is required for maintaining regulatory compliance in the country. The bank supports AUD deposits through several methods, including bank transfers, PayID, and debit or credit cards.

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How to Buy Crypto with Bendigo Bank

For ‍Bendigo Bank clients wanting to buy digital assets, we recommend using CoinSpot, the most popular Australian exchange with over 2.5 million users. This platform gives access to more than 450 digital assets for trading and staking. It provides free AUD deposits through various methods, including bank transfers, PayID, BPAY, credit cards, debit cards, and cash.

Begin your cryptocurrency investing journey by following these steps:

1. Open Account: Create a free account on CoinSpot and complete the verification process.
2. Deposit Funds: Go to the 'Deposit Funds' section in your dashboard.
3. Send Funds: Choose 'AUD' and transfer funds from your Bendigo Bank.
4. Execute Trade: Once your deposit is confirmed, go to the ‘Buy/Sell’ section to purchase the token you desire.

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What are the Fees?

There are several types of costs involved with using cryptocurrency exchange. These fees can include deposit and withdrawal charges, transaction fees, and the spread, which is the difference between the buying and selling prices.

Bendigo Bank customers should consider using CoinSpot for its competitive fee structure and free PayID deposits. However, transferring AUD through a debit or credit card may incur costs of up to 2%. CoinSpot offers trading fees as low as 0.1%, making it an affordable option.

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Is Bendigo Bank Crypto-Friendly?

Bendigo Bank adopts a progressive approach towards cryptocurrency, facilitating customer engagements in the crypto market. The bank offers multiple avenues for customers to transfer funds to digital asset exchanges registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC).

The bank's strategy allows its clients to explore digital asset investments within a secure and regulated framework. Complying with AUSTRAC's strict guidelines, the bank ensures a way for individuals looking to diversify their investment portfolios with cryptocurrencies.

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About Bendigo Bank

Bendigo Bank, one of Australia's most trusted financial institutions, offers a wide range of banking products and services designed to meet the needs of individuals, businesses, and communities. Known for its strong customer focus, it provides personal banking solutions such as the Bendigo EasySaver account, Bendigo Complete Home Loan, and the Bendigo Platinum Rewards Mastercard.

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Bottom Line

Bendigo Bank makes it easy for clients to invest in digital currencies by supporting transfers to AUSTRAC-registered crypto exchanges like CoinSpot. With over 2.5 million users and access to more than 450 cryptocurrencies, CoinSpot is a top choice for Bendigo Bank customers. Offering free AUD deposits and competitive trading fees, it provides a seamless way to buy, trade, and stake digital assets.