Table of Contents
- Can I buy Crypto with a Bank of Melbourne account?
- How to buy Bitcoin with Bank of Melbourne?
- Bank of Melbourne current stance on Crypto Currency
- Current price of Bitcoin in AUD
Can I buy Crypto with a Bank of Melbourne account?
Although Bank of Melbourne is crypto-friendly, it does not yet support Bitcoin or cryptocurrency exchanging directly through the Bank of Melbourne online platform.
The easiest and safest way to purchase Bitcoin with your Bank of Melbourne is by using an exchange such as CoinSpot.
This Australian exchange offers secure cryptocurrency trades with bank-level security, directly from your Bank of Melbourne account.
How to buy Bitcoin with Bank of Melbourne?
Step 1: Create an Account - If you don't already have a CoinSpot account, it's easy to create one. Simply visit CoinSpot and click on the Register button in the top right corner of the site.
Step 2 - CoinSpot also requires you to complete their verification process before you can deposit funds.
- This is required under law and simply involves entering your mobile number and confirming your identity by uploading some identification documents. Don't worry if you get stuck, they have a great support team who will be happy to help!
Step 3: Deposit AUD or NZD into Your Account
- Now that you have verified your account, you can log in and navigate to your Wallet.
- From here, click on the Deposit button next to Australian Dollars (AUD) or New Zealand Dollars (NZD).
- You will then be presented with a list of different ways that you can send funds into CoinSpot.
- These include bank transfers, POLi Payments, BPAY and Cash Deposits at partner banks. If using bank transfer or POLi payments we recommend using PayID for faster processing time and lower fees.
Step 4: Buy Bitcoin or other cryptocurrencies
- Once you have funded your wallet go to the "BUY/SELL" page and purchase your Cryptocurrency.
Bank of Melbourne current stance on Crypto Currency
Bank of Melbourne does not have any policies that prohibit their customers from depositing AUD or NZD to licensed and regulated cryptocurrency exchanges in Australia and New Zealand. Customers can trade digital assets like Bitcoin, Ethereum or Solana with confidence.
The bank has been closely monitoring the digital asset space and is working with regulators to ensure that its customers are protected. Now, Bank of Melbourne has clarified its stance on digital assets, by stating that customers can transfer funds to crypto exchanges.
Bank of Melbourne is a public company headquartered in Melbourne, Australia, and is a wholly owned subsidiary of Westpac Banking Corporation. It primarily operates in Victoria, with some branches located in New South Wales. The bank offers financial services to consumers, broker-dealers, businesses and corporations.
Current Price of Bitcoin in AUD
