Home
»
Crypto Banks
»
How to buy Crypto with AMP Bank

How to buy Crypto with AMP Bank

Alysha Jane
Fact Checked
Oct 12, 2022

Key Takeaways: AMP Bank or 'Australian Mutual Provident Society Bank', is a financial institution in Australia that offers traditional banking services and products. Unfortunately it does not currency offer any investment features, so you cannot buy crypto directly through AMP Bank.

Not to worry, there are alternative methods to purchasing cryptocurrencies with AMP Bank. Simply create an account on a secure and regulated crypto exchange, send money from your AMP Bank account to the platform and buy tokens there. The most secure and reliable exchange in Australia is the CoinSpot platform.

Table of Contents

Best Exchange for Australian Investors

Platform Highlights

  • Fast and Instant AUD Deposits.
  • Lowest trading fees in Australia at 0.1%.
  • Largest Cryptocurrency exchange in Australia.

Can I buy Crypto and Bitcoin on AMP Bank?

No, AMP Bank does not offer any kind of investing feature through its online banking platform. The only way to invest in cryptocurrencies with an AMP Bank account is by going through a secure crypto exchange.

CoinSpot is Australia's most secure and trusted cryptocurrency investing platform, it offers free and instant AUD deposits for AMP Bank account holders. It also has the widest selection of crypto with over 380 tokens you can buy and sell. To learn more about CoinSpot, visit our CoinSpot Review page.

CoinSpot Exchange.
CoinSpot Exchange.

How to buy Bitcoin & Crypto with AMP Bank

The best way to purchase cryptocurrencies like Bitcoin & Ethereum with AMP Bank is through the CoinSpot exchange. AMP Bank users can deposit funds to CoinSpot via POLi, PayID, BPAY, Osko, Bank Transfer, Credit/Debit Card and Cash. Follow the guide below to buy crypto with AMP Bank for 0.1% trading fees.

  1. Sign up to CoinSpot with your email address and complete your verification.
  2. Click 'Deposit Funds', pick a method and transfer money from your AMP Bank account.
  3. Go to the 'Markets' tab, find the 'BTC/AUD' and tap 'View BTC/AUD Market'.
  4. Input the amount of AUD you want to invest and select the 'Buy BTC' button.
‍How to buy Bitcoin & Crypto with AMP Bank.
How to buy Bitcoin & Crypto with AMP Bank.

Is it expensive to buy crypto with AMP Bank?

Not when you use the CoinSpot exchange as it offers the lowest trading (crypto buying) fees in Australia. In addition to low trading fees, CoinSpot offers multiple free AUD deposit methods for AMP Bank account holders. Refer to the below list for a quick summary of CoinSpot's Fees.

  • Trading Fees: 0.1% for Market Buy and 1% for Instant Buy.
  • Deposit Fees: Free for PayID, POLi, Osko & Bank Transfer.
    0.9% fee for BPAY Deposits.
    2.5% fee for Cash Deposits.
    2.58% fee for Card Deposits.

Most cryptocurrency exchanges will typically charge anywhere between 1% - 3% in trading fees, and deposits are generally not free. For deposits, most exchanges will take 1% - 4%, depending on the deposit method. CoinSpot is Australia's most affordable exchange.

AMP Bank Cryptocurrency Policy

AMP Bank have not publicly stated what their stance on cryptocurrency is. However, there is nothing stated in its policies that prohibit their users from investing in digital assets. Furthermore, there have been no reports of AMP Bank account holders funds being frozen when transferring to a secure, regulated and licensed crypto exchange like CoinSpot.

Share

Alysha Jane

I am a Finance graduate and market analyst that enjoys researching and writing about digital assets and how they intersect with Macro.

Twitter
View Posts