How to buy Bitcoin with ME Bank
The best way to purchase Bitcoin and other Cryptocurrencies with ME Bank is by going through CoinSpot. ME Bank customers can deposit AUD to CoinSpot via multiple payment methods which include Bank Transfer, POLi, Credit/Debit Card, BPAY, Osko, PayID or Cash.
Follow the below steps to get started.
- Sign up to CoinSpot and complete the verification process.
- Click 'Deposit Funds', select a payment method, and transfer AUD from ME Bank.
- Go to the 'Markets' tab, find the 'BTC/AUD' market, and click 'View BTC/AUD Market'.
- Input the AUD amount you want to invest in Bitcoin and click 'Buy BTC'.
Can I legally buy Cryptocurrencies in Australia?
Yes, it is completely legal to invest in digital assets in Australia as they are treated as legal tender, meaning you need to pay taxes on your crypto profits. There is no risk in purchasing Cryptocurrencies, as long as you use a regulated and licensed exchange like CoinSpot. It is the most secure and trustworthy trading platform in Australia and has been awarded the ISO27001 Standard Security Certificate.
Is it expensive to invest in Crypto?
It can be expensive depending on what trading platform you use to purchase tokens. For example, popular exchanges like eToro will charge two fees (a 1% trading fee and a 1% - 2% spread fee) just to buy or sell a token, in addition to a deposit and withdrawal fee. However, CoinSpot is the most cost-effective option for ME Bank customers as it offers multiple free AUD payment methods and the lowest trading fee in Australia.
About ME Bank
ME Bank is an Australian bank that was established in 1994. It operates as a digital, online-only bank and offers a range of banking products and services. It is a subsidiary of the Bank of Queensland Limited. The bank offers a variety of banking products and services including transaction accounts, savings accounts, term deposits, home loans, personal loans, credit cards, insurance, and financial planning services.
The bank's digital platform offers customers 24/7 access to their accounts and allows them to perform a range of banking activities, including transferring money, paying bills, and managing their accounts. ME Bank prides itself on its customer-centric approach to banking and offers a range of customer support services, including a call centre, live chat, and an online help centre.
ME Bank does not currently offer Cryptocurrencies directly through its online banking portal. To buy Bitcoin or other tokens with ME Bank, customers will need to use a digital asset exchange like CoinSpot. It's the leading Crypto trading platform in Australia and offers features that include competitively low fees, multiple AUD payment methods, Crypto staking, an NFT marketplace and more.
If you would like to learn about the CoinSpot exchange and its features, visit our detailed CoinSpot Review.