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How to buy Crypto with Bankwest

How to buy Crypto with Bankwest

Andrew Chen
Fact Checked
Feb 6, 2023

Summary: Bankwest does not currently support the direct investing of Cryptocurrencies through its online banking platform. The only way to trade Crypto in Australia with Bankwest is by going through an AUSTRAC-regulated digital asset exchange.

The most secure trading platform in Australia is CoinSpot. It offers a vast array of features including trading and staking services, an NFT marketplace, a Crypto Card, plus Crypto ETFs (Bundles) for those who want exposure to Cryptocurrencies but are unsure what asset to buy.

Table of Contents

Best Crypto Exchange for Bankwest Customers

Platform Highlights

  • Free and instant AUD deposits with for Bankwest users.
  • Trade 370+ Cryptocurrencies with fees starting from 0.1%.
  • NFT Marketplace, Crypto Staking, Crypto ETFs and more.

Can I buy Crypto on Bankwest?

Unfortunately, Bankwest users cannot invest in Bitcoin and other tokens directly through the online banking portal. Bankwest has not publicly stated its stance on Crypto, but there's nothing stated in its policies that would prohibit its customers from investing in digital assets through regulated and licensed exchanges.

As stated above, we recommend using the CoinSpot platform. On CoinSpot, users can purchase over 370 cryptocurrencies and stake over 30 tokens. If you would like to learn more about this exchange and its fees, assets, security, and features, we recommend visiting our CoinSpot Review.

How to buy Bitcoin with Bankwest

The best and fastest way to buy Bitcoin and other Cryptocurrencies with a Bankwest account or card is through CoinSpot. On CoinSpot, Bankwest customers can deposit AUD via Credit/Debit Card, Bank Transfer, Osko, POLi, PayID, BPAY, and Cash.

Follow the guide below to securely buy Bitcoin:

  1. Create a free account on CoinSpot and complete the onboarding process.
  2. Tap 'Deposit Funds', select a method, and send funds from Bankwest.
  3. Go to the 'Buy/Sell' tab, look for Bitcoin, and click 'Buy BTC'.
  4. Input the amount of AUD you want to invest and click the 'Buy' button.
How to buy Bitcoin with Bankwest.
How to buy Bitcoin with Bankwest.

Is CoinSpot a secure Cryptocurrency exchange?

CoinSpot is by far the best and most secure Cryptocurrency investing platform in Australia. It's the only exchange to have been awarded the ISO 27001 standard security certification by undergoing an SCI Qual International security audit. This audit determines if CoinSpot’s information security management systems are highly secure, and eliminate unauthorised access, modification or use for malicious intent.

About Bankwest

Bankwest is an Australian bank founded in 1895 and is a subsidiary of the Commonwealth Bank of Australia. The bank has over 1.6 million customers and operates in all states and territories of Australia except for Victoria and Tasmania. It has won numerous awards including Canstar's 'Bank of the Year' award in 2015 and 2016. In 2017, Bankwest was named 'Best Regional Bank' by Mozo Experts Choice Awards.

The bank has over 700 branches across Australia and provides personal, business, and corporate banking services. Bankwest has a wide range of products and services that cater to the needs of its customers, including savings accounts, transaction accounts, home loans, personal loans, credit cards, and more. The bank also offers a mobile app and online banking services.


Final Thoughts

In conclusion, Bankwest does not currently support the direct investment of Crypto through its online banking platform. To trade digital assets in Australia, Bankwest users must go through an AUSTRAC-regulated digital asset exchange. The most secure platform for Crypto trading in Australia is CoinSpot, which offers many features such as staking services, an NFT marketplace, a crypto card and more.


Andrew Chen

Former Bitcoin Maximalist turned multi-chain enjoyer. I hunt down the best yields across AVAX, Solana, Fantom and other networks.

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