Summary: Bank of Queensland acknowledges the rising popularity of digital assets and permits its clients to engage with this dynamic sector. BoQ doesn’t directly process these transactions, but it ensures smooth fund transfers to certified digital asset platforms under the regulations of Australian authorities like ASIC and AUSTRAC. This strategy enables its customers to seamlessly trade popular cryptocurrencies such as Bitcoin.
We analysed many popular exchanges and found eToro as the top choice for BoQ clients. Our experts chose eToro because it offers quick and easy AUD deposits and a vast selection of over 4,500 financial instruments available at low fees. Beginners can also benefit from the platform’s strong community of over 30 million investors worldwide, adding to its appeal.
- Regulated by the Australian Securities and Investments Commission (ASIC).
- Buy, sell and trade over 4,500 Cryptocurrencies, Stocks, ETFs and more.
- Fast AUD deposits from Bank of Queensland via POLi, bank transfer and debit card.
Your capital is at risk. AFSL 491139. See eToro PDS and TMD.
Can I Buy Bitcoin with Bank of Queensland?
Definitely, Bank of Queensland allows its customers to swap their AUD for Bitcoin and other digital assets. For this purpose, the bank partners with licensed cryptocurrency exchanges in Australia. Its users can transfer funds to these platforms and diversify their investments, but it is important to focus on exchanges under the supervision of the Australian Securities and Investments Commission (ASIC) for compliance with regulatory standards.
How to Buy Crypto with Bank of Queensland
Bank of Queensland customers have the option to invest in digital assets using registered Australian exchanges. Our research points to eToro as a preferred choice due to its compliance with ASIC guidelines and its extensive range of more than 4,500 financial instruments, including cryptocurrencies, ETFs, commodities, and stocks. eToro also simplifies AUD deposits with multiple popular payment methods like POLi, PayPal, bank transfers, and debit/credit cards.
Begin your cryptocurrency investing journey by following these four steps:
- Registration: Create an account on eToro and complete the identity verification steps.
- Currency Selection: Click ‘Deposit Funds’ and choose ‘AUD’ to minimise conversion fees.
- Fund Deposit: Select a preferred payment method and transfer funds from your Bank of Queensland account.
- Trading: Search the platform for your desired digital currency and execute your transaction.
Bank of Queensland Cryptocurrency Policy
Bank of Queensland adopts a forward-looking approach to digital assets, enabling its customers to effortlessly access the cryptocurrency market. The bank achieves this by partnering with exchanges that conform to the Australian Securities and Investments Commission. We recommend eToro Australia Pty Ltd, which operates under ASIC licence AFSL 491139. eToro provides a secure and trustworthy trading environment, supervised by ASIC and located at Level 3, 60 Castlereagh Street, Sydney NSW 2000, Australia.
Digital Asset Investment Fees
Grasping the costs involved in crypto investments is key to making smart financial decisions and enhancing your trading strategy and outcomes. Below is a summary of the common expenses you can expect to encounter on digital asset exchanges:
- Funding Fees: Depositing money into a cryptocurrency account incurs charges that vary with your chosen payment method. For example, bank transfers or PayID usually imply lower fees compared to faster methods like credit or debit cards.
- Transaction Costs: The commissions for purchasing or selling digital currencies vary among platforms. eToro generally charges about 1% per trade, a rate often more favourable than its competitors.
- Withdrawal Fees: The cost to take out money from the exchange differs with each digital currency. For example, Bitcoin comes with a fee of approximately 0.0005 BTC on most platforms, although this can change for other tokens.
eToro offers an extensive selection of over 4,500 assets with a variety of coins, stocks, ETFs, and commodities, all at competitive rates. This unique offering makes it a top choice for BoQ users seeking an affordable investing experience.
What is the Bank of Queensland?
Bank of Queensland (BoQ) is a prominent Australian financial institution that provides an extensive range of services, including savings and checking accounts, personal and business loans, insurance, and investment services. Established in 1874, the bank has a rich history of serving individual and corporate clients across Australia.
BoQ has a strong presence online and through an extensive network of branches, particularly in Queensland. It’s popular for providing personalised and innovative banking solutions and its commitment to community development and customer satisfaction. This combination positions the Bank of Queensland as a key player in the country, consistently striving to meet the evolving needs of modern consumers.
Final Thoughts
In summary, the Bank of Queensland opens doors for its customers to the vibrant world of cryptocurrency trading by facilitating secure and smooth fund transfers to certified digital asset exchanges. Our extensive research highlights eToro as the superior choice for Australians due to its adherence to ASIC regulations, multilingual interface, and ease of use in handling AUD deposits. To top it off, the platform presents a wide range of financial instruments, coupled with its low fees and valuable extras like copy trading and staking services.
Co-Founder & former Investment Banker (Finance MBA) turned Full-Time analyst and Head of Research at Buy Bitcoin Bank. Left traditional finance to pursue my interest in digital assets and decentralized finance.
