Summary: NAB Bank does not offer services for customers to buy or sell Bitcoin and cryptocurrencies directly through its online banking platform. The bank's customers need to transfer AUD from their accounts or cards to an AUSTRAC-licensed exchange in Australia to securely trade crypto.
Our team has assessed the top-performing crypto exchanges in Australia and has determined that CoinSpot is the best option for NAB customers. It's the largest exchange in the country and offers Aussies free and instant AUD deposits to buy, sell, hold and stake over 380 cryptocurrencies. It also supports an NFT market with popular projects like BAYC and Crypto Punks.
Best Crypto Exchange for NAB Bank
- Instant and Free AUD deposits from NAB Bank via multiple payment methods.
- 370+ Cryptocurrencies, Crypto Staking, Crypto ETFs, NFT Marketplace & more features.
- Licensed and Regulated by ASIC & AUSTRAC with Audited Proof-of-Reserves of customer funds.
Can I Buy Bitcoin with NAB Bank?
The National Australia Bank does not support direct cryptocurrency purchases on its platform. To buy cryptocurrencies, NAB customers should register with a licensed cryptocurrency platform in Australia and deposit AUD from their bank account or card to buy or sell cryptocurrencies like Bitcoin, Ethereum, Solana and more.
How to buy Bitcoin or Crypto with NAB Bank
The easiest and safest way to buy Bitcoin or crypto using a NAB Bank account is through the CoinSpot exchange. They provide instant and free AUD deposits from NAB through Bank Transfer, POLi, Osko, PayID, Credit Card, Debit Card or Cash.
NAB account holders can start trading crypto with this quick guide:
- Create a free account on CoinSpot and complete the verification requirements.
- Click 'Deposit Funds', select a method and transfer money from NAB.
- Go to the 'Buy/Sell' tab, find the token you want and click 'Buy'.
- Input the AUD amount to invest and execute the trade.
Is NAB Crypto-Friendly?
Nothing is mentioned in the National Australia Bank's policies prohibiting its clients from investing in digital assets by sending funds to regulated and licensed cryptocurrency exchanges. In addition, there have been no reports of NAB customers' funds being frozen when transferring AUD to secure and AUSTRAC-registered platforms.
What is National Australia Bank (NAB)
National Australia Bank (NAB) is among Australia's top four financial institutions. NAB serves over 12 million customers and employs more than 35,000 people across Australia, New Zealand, Asia, the UK, and the US. NAB's history dates back to the National Bank of Australasia in 1858, and in 1982, it merged with the Commercial Banking Company of Sydney. As one of the "Big Four" banks, NAB offers services like retail banking, commercial banking, wealth management, and investment solutions for individuals and businesses.
To recap, NAB does not support cryptocurrency transactions directly on its platform. Although, it does permit clients to invest in the asset class by transferring AUD to secure and regulated cryptocurrency trading platforms. CoinSpot is the best digital asset exchange for NAB customers as it offers free and instant AUD deposits to trade hundreds of tokens with low fees.