The Bank of Queensland does not offer cryptocurrency-investing services directly through its platform or mobile services. However, by buying through regulated digital asset platforms, it is still possible to purchase and invest in crypto while being a BOQ client. Bank of Queensland customers can engage in crypto by transferring Australian Dollars to approved platforms.
There are multiple leading crypto platforms in the country. Here is our guide on how to use them to buy crypto with the Bank of Queensland.
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How to Buy Crypto with Bank of Queensland
Before buying crypto with the Bank of Queensland, it’s important to decide which crypto exchange you will use. The Australian Securities and Investments Commission (ASIC) is the primary regulator in the country. Therefore, it is essential to choose a platform that is registered in Australia.
There are multiple crypto exchanges active in Australia to choose from to invest in crypto. However, eToro is one of the best choices for BOQ clients, as it offers instant AUD deposits to trade over 3000 assets.
Also Read: Australia Rejects Crypto Regulation Bill
Bank of Queensland clients can deposit Australian dollars to eToro instantly via various payment methods like Bank Transfer, Credit/Debit Card, PayPal, Skrill, Neteller, and POLi. Here’s a step-by-step guide on how to buy crypto with the Bank of Queensland using eToro.
- Open a free account on eToro and complete the verification process.
- Click ‘Deposit Funds’, pick a method, and transfer AUD from the Bank of Queensland.
- Go to the search bar, locate the desired token, and click ‘Trade’.
- Enter the amount you wish to purchase and click ‘Open Trade’.
For other crypto exchange platforms, the process is very similar. It’s important to remember the trading charges and transfer costs for buying crypto with these platforms. For example, Deposits conducted through a credit card associated with a BOQ account may be subject to a fee exceeding 2%.