How to Buy Crypto with UBank
After completing a thorough examination of the top platforms for UBank customers, we found that eToro is the best option. UBank customers can deposit AUD to eToro for free through several payment methods, which include Bank Transfer, Credit Card, Debit Card, PayPal and POLi.
Begin trading thousands of assets with this short and simple guide:
- Create a free account on eToro and complete the verification process.
- Tap the 'Deposit Funds' button on the bottom left of your screen.
- Click 'AUD', select a payment method and transfer funds from UBank.
- Complete your deposit and buy your desired Crypto in the search bar.
Buying Cryptocurrency Fees
Most trading platforms in Australia charge fees for deposits. However, eToro offers users zero-cost payment options and only incurs a small $5 fee for withdrawals to UBank accounts. The sole charges associated with this platform pertain to purchasing and selling Crypto and is 1% of your total transaction amount.
Does UBank allow Crypto Purchases?
There is nothing stated in UBanks terms and conditions that prohibit its clients from investing in digital assets through regulated and AUSTRAC-registered Cryptocurrency exchanges. Although, they may freeze transactions to unregulated trading platforms like Gate.io or KuCoin.
UBank is a wholly-owned subsidiary of the National Australia Bank (NAB), one of the country's largest financial institutions. Established in 2008, UBank has since cemented its reputation as the leading digital-only bank in Australia, providing customers with various banking products and services exclusively via its online platform and mobile application.
The bank's commitment to a digital-first approach allows it to minimise overhead costs and pass on the savings to customers through competitive interest rates and low fees. Customers can access their accounts 24/7 through UBank's intuitive website and user-friendly mobile app.
To recap, UBank is a digital-only bank in Australia that indirectly allows its customers to invest in Cryptocurrencies by transferring Australian dollars to regulated and ASIC-licensed digital asset exchanges. Our comprehensive analysis has identified eToro as the top choice for UBank customers, offering a wide range of assets and a user-friendly experience.