Can I buy Bitcoin with Bendigo Bank?
If you are wanting to invest in Bitcoin or any cryptocurrency directly through the Bendigo Bank platform, you will be unsuccessful. This is because most major banks in Australia do not currently support a cryptocurrency investing feature on their platforms.
Not to worry, there are alternative and secure options for Bendigo Bank account holders to invest in Bitcoin. You simply need to link your Bendigo Bank account with a secure, licensed cryptocurrency exchange
How to buy Bitcoin & Crypto with Bendigo Bank
As mentioned above, the best platform to buy and sell cryptocurrencies in Australia is the CoinSpot exchange. They offer free and instant AUD deposits from Bendigo Bank to trade over 350 cryptocurrencies with low fees. Their platform also has been audited to show full proof-of-reserves of customer assets, making them a safe exchange.
You can get started on a trusted exchange with this simple guide:
- Sign up to the CoinSpot Australia platform.
- Deposit Australian Dollars (AUD) from Bendigo Bank via Bank Transfer, Debit Card, Credit Card, POLi, PayID and other methods.
- Find the cryptocurrency on the exchange you want to buy (pick from over 350 assets).
- Input the AUD amount you want to buy and execute the trade.
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Bendigo Bank Crypto Policy
Bendigo Bank have not issued any official statements in regards to cryptocurrencies and no reports have been issued of users accounts being frozen when investing in cryptocurrencies. They do not have any policies that would prohibit their account holders from trading any form of digital asset or cryptocurrency.
Meaning that Bendigo Bank will not stop you from depositing and withdrawing funds from licensed digital asset exchanges.
Fees - Deposit & Trading
When investing in Bitcoin, there are two fees investors need to consider when depositing with Bendigo Bank.
- Deposit Fee - This fee is charged when you deposit AUD into your exchange account
- Trading Fee - This is the fee you will incur when trading your AUD for Bitcoin (BTC)
However, with the CoinSpot platform, depositing AUD from your Bendigo Bank account is completely free. To make it better, CoinSpot also do not charges low fees starting at 0.1% per trade, which is the industry leading rates for exchanges in Australia. For a comprehensive review of the platform, please visit our CoinSpot Review page.
