Summary: AMP Bank does not offer any investment features through its platform. The only way Aussies can invest in cryptocurrency is by transferring funds from an AMP account or card and depositing it into a licensed digital asset exchange. Finding a platform that is registered with AUSTRAC is vital for ensuring the security of your assets.
Our team has evaluated the best digital asset exchanges in Australia and has come to the conclusion that CoinSpot is the most trusted and reliable option. It offers AMP Bank customers free and instant AUD deposits to trade over 380 cryptos. CoinSpot also offers the lowest trading fees out of any Australian exchange, starting from a competitively low 0.1%.
Best Crypto Exchange for Australian Investors
- Free and instant AUD deposits via PayID, POLi & Bank Transfer.
- Lowest trading fees in Australia starting at a low 0.1%.
- Buy and sell over 370 Cryptocurrencies and stake over 20 tokens.
Can I Buy Bitcoin with AMP Bank?
While AMP Bank does not directly offer cryptocurrency investing services through its platform, it allows you to transfer your assets to a regulated digital asset exchange in Australia. This is how the bank makes it possible for its customers to participate in crypto while benefiting from a compliant and financially regulated environment.
How to Buy Bitcoin and Crypto with AMP Bank
The best way to purchase Cryptocurrencies like Bitcoin or Ethereum with AMP Bank is through CoinSpot. AMP Bank users can deposit AUD to CoinSpot via POLi, PayID, BPAY, Osko, Bank Transfer, Credit/Debit Card, or Cash.
Below is a short and simple guide to buying Crypto with AMP.
- Open a free account on CoinSpot and complete the verification requirements.
- Click 'Deposit Funds', pick a method, and transfer money from AMP Bank.
- Go to the 'Markets' tab, find Bitcoin, and tap 'View BTC/AUD Market'.
- Input the amount of AUD you want to invest and select the 'Buy BTC' button.
Is AMP Bank Crypto-Friendly?
AMP Bank has not publicly stated what its stance on cryptocurrency is, but there is nothing stated in its policies that prohibits its users from investing in digital assets through an AUSTRAC-regulated exchange like CoinSpot. Furthermore, there have been no reports of AMP Bank account holders' funds being frozen when transferring to a secure, regulated, and licensed trading platform.
About AMP Bank
AMP is a financial institution in Australia that provides banking and financial services to individuals, businesses, and corporate clients. The bank was founded in 1849 and has grown to become one of the country's leading banks. Its products and services include savings accounts, transaction accounts, term deposits, personal loans, home loans, and credit cards.
One of the unique features of AMP Bank is that it is owned by the AMP Group, a leading provider of financial services that operate across Australia and New Zealand. This structure allows AMP Bank to offer a wide range of financial products and services to its customers, leveraging the expertise of the larger AMP Group.
To sum up, AMP Bank addresses the need for more direct access to digital currencies with straightforward solutions. One of these solutions is using Australia’s most secure and trusted cryptocurrency exchange, CoinSpot. AMP customers can transfer funds for free from the bank to the regulated platform to buy and sell cryptocurrencies with low trading fees.