Summary: At the moment, Bankwest doesn't offer the option to invest directly in cryptocurrencies via its online banking system. In order to trade cryptocurrencies in Australia, investors must use a digital asset exchange that is regulated by AUSTRAC. Selecting a properly licensed platform in the country is essential to guarantee the safety of your assets.

After a detailed analysis of the best cryptocurrency exchanges in Australia, our team has determined that CoinSpot is the number one pick for Bankwest customers. The platform provides Aussies with free and instantaneous AUD deposits to buy, sell, hold and stake various digital assets, including stablecoins, altcoins, Metaverse and NFT coins.

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.
Table of Contents

Can I buy Bitcoin with Bankwest?

Bankwest does not facilitate direct investments in Bitcoin or other digital assets via its online banking platform. However, its customers can still explore the vast world of cryptocurrencies through an AUSTRAC-registered cryptocurrency platform in Australia. This method lets investors transfer AUD from a Bankwest account or card to purchase cryptocurrencies directly.

How to buy Bitcoin or Crypto with Bankwest

The most efficient method to purchase Bitcoin and other cryptocurrencies with a Bankwest account or card is via CoinSpot. This platform allows Bankwest users to deposit AUD through Credit/Debit Card, Bank Transfer, Osko, POLi, PayID, BPAY, and even Cash.
Bankwest customers can follow these simple steps to get started:

  1. Create a free account on CoinSpot and complete the verification requirements.
  2. Click 'Deposit Funds', select a method and transfer money from Bankwest.
  3. Go to the 'Buy/Sell' tab, find the token you want and click 'Buy'.
  4. Input the AUD amount to invest and execute the trade.
How to buy Bitcoin or Crypto with Bankwest.
How to buy Bitcoin or Crypto with Bankwest.

Is Bankwest Crypto-Friendly?

Although Bankwest doesn’t offer direct cryptocurrency investing services through its online banking platform, it certainly accommodates the evolving financial preferences of its customers. The bank's policies don't hinder customers from exploring the dynamic world of digital currencies through regulated cryptocurrency trading platforms. 

What is Bankwest?

Bankwest, a renowned Australian bank established in 1895, is a subsidiary of the Commonwealth Bank of Australia. The bank boasts a customer base exceeding 1.6 million and is in every Australian state and territory, barring Victoria and Tasmania. Its services have earned it numerous accolades, such as Canstar's 'Bank of the Year' award in 2015 and 2016, and the 'Best Regional Bank' title from Mozo Experts Choice Awards in 2017.

With an extensive network of over 700 branches countrywide, Bankwest provides a comprehensive range of banking services. These include personal, business, and corporate banking and various products to meet its customers' needs. Customers have options from savings and transaction accounts, home and personal loans, to credit cards, among others. 

Final Thoughts

To wrap up, Bankwest can securely invest in cryptocurrency by going through a digital asset exchange regulated by AUSTRAC. CoinSpot is widely regarded as the safest platform for cryptocurrency trading in Australia. Offering several features, including staking services, an NFT marketplace, a crypto card, an OTC desk, Bundles (Crypto ETFs) and much more.