Can I buy Cryptocurrency on UBank?
The UBank digital bank does not offer any services for its customers to buy, sell or store digital currencies like Bitcoin, Ethereum, and more. Their online banking app does not have the infrastructure needed to support Cryptocurrency applications like a wallet or exchange.
This means you will need to deposit AUD from your UBank account into a secure and reliable digital asset exchange in Australia. CoinSpot is the best Cryptocurrency investing platform and has over 2.5 million registered Aussie investors. It offers a variety of features which includes trading and staking services, an NFT marketplace and more. To learn more about this exchange, visit our CoinSpot Review.
How to buy Crypto with UBank Online
The easiest way to buy Cryptocurrencies like Bitcoin and Ethereum with UBank Online is through CoinSpot. UBank users can deposit AUD to CoinSpot via PayID, POLi, BPAY, Osko, Bank Transfer, Credit Card, Debit Card or Cash to buy and sell over 370 tokens.
Follow these simple steps to get started.
- Create a free account on CoinSpot and complete the verification process.
- Tap 'Deposit Funds', select a deposit method, and send AUD from UBank.
- Go to the 'Buy/Sell' tab, find the cryptocurrency you want to buy, and tap 'Buy'.
- Input the AUD amount of the token you want to buy and execute your order.
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 need to consider is their rule against staying away from off-shore and unregulated digital currency exchanges. CoinSpot is the best platform for UBank customers as it is regulated and licensed with AUSTRAC and is based in Australia.
What are the fees involved in buying Crypto?
The fees to deposit AUD from UBank to CoinSpot are completely free if you use the PayID, POLi, Osko, or Bank transfer method. However, BPAY charges a 0.9% fee, Credit/Debit Cards are 2.58% and Cash deposits are 2.5%. AUD withdrawals are completely free. As for the trading fees, CoinSpot charges 0.1% for a Market Order or 1% for an Instant Order buys.
UBank is an Australian neo-bank that is 100% online and mobile, which means customers can do their banking anytime, anywhere. 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 allows customers to automatically save their spare change.
The bank is committed to providing excellent customer service and was awarded Canstar's Bank of the Year in 2019. The company has also won numerous other awards for its products and services.
UBank does not support the buying, selling, or storing of digital currencies through its online platform. To purchase Cryptocurrencies with UBank, you must use a licensed and AUSTRAC-regulated digital asset exchange. CoinSpot is the most highly recommended platform as it offers a wide variety of features, has the lowest fees in Australia, and is the most secure trading platform for UBank customers.