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How to Buy Crypto with Suncorp

How to Buy Crypto with Suncorp

Karen Tren
Fact Checked
Feb 7, 2023

Summary: Unfortunately, Suncorp Bank does not support Cryptocurrency trading directly through its internet banking portal. The only method available for Suncorp customers to buy Bitcoin and other Crypto is by going through an AUSTRAC-licensed digital asset exchange.

CoinSpot is the most secure and affordable option for Suncorp customers as it offers multiple free AUD payment methods and has the lowest trading fee in Australia starting from 0.1%. Additionally, it offers a vast array of features such as staking on multiple tokens, an NFT marketplace with popular projects like BAYC and Crypto Punks, a Crypto Mastercard, Bundles (Crypto ETFs) and more.

Table of Contents

Best Exchange for Suncorp Bank

Platform Highlights

  • Instant and free AUD deposits via Suncorp Bank transfers with multiple deposit options.
  • 370+ Cryptocurrencies to trade starting at 0.1% fees (industry-leading).
  • Feature-rich with an NFT Marketplace, Crypto Staking platform, Crypto ETFs, SMSF Support and more.

How to buy Bitcoin and Crypto with Suncorp Bank

The easiest way to buy Cryptocurrencies in Australia with a Suncorp Bank account is through CoinSpot. Their platform offers over 370 cryptocurrencies including Bitcoin, Ethereum, Solana and more. Suncorp customers can deposit AUD to CoinSpot via a variety of methods which include PayID, POLi, BPAY, Osko, Credit/Debit Card, Bank Transfer or Cash.

You can get started with these four simple steps:

  1. Create a free account on CoinSpot and complete the onboarding process.
  2. Tap 'Deposit Funds', select a method and send AUD from Suncorp.
  3. Go to the 'Buy/Sell' tab, find Bitcoin (or the token you want) and click 'Buy BTC'.
  4. Input the AUD amount you want to invest in Bitcoin and click the 'Buy' button.
How to buy Bitcoin and Crypto with Suncorp Bank.
How to buy Bitcoin and Crypto with Suncorp Bank.

Suncorp Bank Cryptocurrency Policy

Suncorp Bank does not have any policies that would prohibit their users from trading any form of digital asset when going through an AUSTRAC-licensed exchange like CoinSpot. However, they may stop any transactions going to unregulated exchanges like Binance or HotBit. There have been no reports of Suncorp customers' funds being frozen when transferring to any secure Australian platforms like CoinSpot.

Is it expensive to invest in Cryptocurrencies?

It can be expensive to invest in Crypto when you use platforms like eToro, which charge multiple fees to trade tokens including a trading fee of 1% and a spread fee of 1% - 2%, plus deposit and withdrawal fees. CoinSpot however, offers industry-leading fees with zero fees on deposits (via select methods) and withdrawals. In addition to only one trading fee, which varies between 0.1% - 1% depending on your method.

About Suncorp Bank

Suncorp Bank is an Australian bank serving more than nine million customers throughout the country. Suncorp has a long and proud history dating back to 1902 when it first began operations as the Queensland Insurance Company. Suncorp Bank is a subsidiary of Suncorp Group Limited, an ASX-listed company with more than $95 billion in assets.

The bank has grown significantly over the years and today offers a full range of banking and financial services products, including savings and transaction accounts, credit cards, personal loans, home loans, car loans, term deposits, and superannuation. Suncorp also offers insurance products ranging from home and contents insurance to life insurance and travel insurance.

Suncorp
Suncorp Bank.

Final Thoughts

Suncorp Bank does not offer a direct way for its customers to buy Cryptocurrency. The only method available for Suncorp users is buying through an AUSTRAC-licensed exchange like CoinSpot. We recommend this platform because it offers the lowest trading fees in Australia and multiple free AUD payment methods. If you would like to learn more about this exchange, visit our CoinSpot Review.

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Karen Tren

Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.

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