How to Buy Crypto with CommBank

As outlined above, the best way to invest in Crypto assets with a CommBank Netbank account is with a regulated exchange in Australia. CoinSpot is our top pick for Aussie investors because they boast the widest variety of crypto assets and other features like crypto staking, an NFT marketplace, crypto bundles and much more.

Follow the simple guide below to get started:

  1. Sign Up: Create an account on CoinSpot and complete the verification process.
  2. Deposit Funds: Click ‘Deposit Funds’, pick a method and send AUD from CommBank.
  3. Find Token: Select buy/sell and find the crypto asset you want to buy.
  4. Buy Crypto: Enter the amount you want to purchase in AUD and execute your trade.
Deposit Funds and Invest with CoinSpot via CommBank.

Is CommBank Crypto-Friendly?

Yes, CommBank is one of the most crypto-friendly banks in Australia. They are one of the first banks to publically announce that they are working on integrating a crypto exchange into the CommBank app that is expected to be released sometime in 2023 or 2024. They also allow customers to buy and sell digital currencies through AUSTRAC-licensed exchanges like CoinSpot, SwyftX or eToro.

What are the Fees to Invest in Crypto?

Fortunately for CommBank account holders, CoinSpot charges zero AUD deposit fees when depositing funds via PayID or Bank Transfer (over $1,000 AUD). When it comes to trading fees, CoinSpot has some of the lowest fees in Australia starting at 0.1% for maker trades and 0.2% for taker trades.

They also offer a tiered fee structure that lowers your trading costs even further as you trade more frequently. You can learn more about their fees here.

About Commonwealth Bank

Commonwealth Bank of Australia (CBA) is an Australian multinational bank with businesses across New Zealand, Asia, the United States and the United Kingdom. As one of the Big Four banks in Australia, it provides banking and financial services to more than 16 million customers. The Commonwealth Bank has a long history dating back to 1911 when the Australian government established the Commonwealth Bank of Australia to take over the functions of the then-defunct Federal Reserve Bank.

CommBank

The bank has grown steadily over the past century and now offers a full range of banking and financial services, including personal banking, business banking, corporate banking, investment banking, wealth management and insurance. The Commonwealth Bank is headquartered in Sydney and has branches in all major Australian cities and towns. It also has a large network of ATMs and over 4,000 branches across Australia.

The bank is listed on the Australian Securities Exchange (ASX) and is a member of the S&P/ASX 200 index.