Summary: The only method for purchasing cryptocurrencies using UBank is via a secure and licensed cryptocurrency trading platform in Australia. Although Ubank is a digital bank, it does not provide services for digital asset trading. Choosing a cryptocurrency exchange that is registered with AUSTRAC is crucial to ensure the platform's security and integrity.
We have compared Australia’s leading digital asset exchanges and found that CoinSpot is the best cryptocurrency trading platform for UBank account holders. CoinSpot gives investors free and fast deposits to purchase 380+ cryptocurrencies with fees of 0.1%. In addition to trading digital currencies, it offers a crypto card, an NFT marketplace, a staking feature and much more.
Best Crypto Exchange for UBank Customers
Platform Highlights
- Free and instantaneous AUD deposits with for UBank users.
- Trade 370+ Cryptocurrencies with low fees starting from 0.1%.
- NFT Marketplace, Crypto Staking, Crypto ETFs and more.
Can I Buy Bitcoin with UBank?
UBank, a digital banking platform, currently doesn't facilitate the purchase, sale, or storage of cryptocurrencies such as Bitcoin and Ethereum. Consequently, to engage in crypto trading, customers need to deposit AUD from their UBank account into a secure, AUSTRAC-registered cryptocurrency platform in Australia. Once funds have been deposited on the exchange, users have direct access to crypto.
How to Buy Bitcoin or Crypto with UBank
The easiest way for UBank customers to purchase cryptocurrencies, such as Bitcoin is through the CoinSpot exchange. UBank customers can transfer AUD to CoinSpot using various methods, including PayID, POLi, BPAY, Osko, Bank Transfer, Credit Card, Debit Card, or cash.
Ubank account holders can follow these easy steps to start trading crypto:
- Create a free account on CoinSpot and complete the verification requirements.
- Click 'Deposit Funds', select a method and transfer money from UBank.
- Go to the 'Buy/Sell' tab, find the token you want and click 'Buy'.
- Input the AUD amount to invest and execute the trade.
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Is UBank Crypto-Friendly?
Yes, UBank is a crypto-friendly bank in Australia that enables its customers to freely buy, sell and trade digital assets with the funds in their UBank account and cards. The only relevant policy UBank account holders must consider is the bank's rule against off-shore and unregulated digital currency exchanges.
What is UBank?
UBank is a fully digital Australian neo-bank, providing customers with the convenience of managing their banking needs around the clock, regardless of location. Its products include savings accounts, transaction accounts, plus personal and home loans. The company also offers a range of unique features, such as round-up savings, which allow customers to save their spare change automatically.
Final Thoughts
In conclusion, UBank's online platform doesn't facilitate the purchase, sale, or storage of digital currencies. To engage in cryptocurrency transactions with UBank, customers need to use a licensed digital asset exchange regulated by AUSTRAC. CoinSpot is our top pick due to its diverse features, industry-low fees in Australia, and being the safest trading platform for UBank clients.
