How to buy Crypto with Great Southern Bank
The best way to invest in digital assets like Bitcoin with a Great Southern Bank account is through the eToro exchange. Great Southern Bank account holders can deposit Australian dollars (AUD) on eToro via several payment methods, such as POLi, PayPal, Credit Card, Debit Card, PayPal, Skrill or Neteller.
Follow the below steps to buy crypto with Great Southern Bank:
- Create a free account on eToro and complete the verification requirements.
- Tap the 'Deposit Funds' button on the bottom left of your screen.
- Tap 'AUD', pick a payment method, and transfer funds from Great Southern Bank.
- Complete your deposit and buy your desired Crypto in the search bar.
Buying Cryptocurrency Fees
It can be very expensive to invest in cryptocurrencies if you aren't careful, some popular exchanges like Coinbase charge a high 4% trading fee when investing in crypto. But not to worry, if you use eToro, the fees are relatively low. Deposits are free on eToro but conversion rates apply as all trades are conducted in USD on the platform. As for the trading costs, there is a 1% fee anytime you buy or sell a cryptocurrency.
Does Great Southern Bank allow Crypto Purchases?
As a customer of Great Southern Bank, it is essential to know that while they may not facilitate the direct purchase of cryptocurrencies via their platform, they do permit transactions with digital assets on exchanges licensed by regulatory authorities. However, it is advisable to exercise caution and ensure that the trading platforms are regulated, as Great Southern Bank is likely to discourage engaging with non-compliant exchanges such as KuCoin and Gate.io.
About Great Southern Bank
Great Southern Bank is the largest customer-owned financial institution in Australia. It was founded in 1946 by a group of businessmen in the state of Queensland. The bank offers a wide range of services, including personal and business banking, home loans, credit cards, and investment products. Great Southern Bank has over 500 thousand customers and is one of the leading banks in Australia.
To summarise, investing in cryptocurrencies with a Great Southern Bank account is easy when using the eToro exchange. eToro is a multi-asset exchange that offers instant AUD deposits to trade thousands of assets, which include popular cryptocurrencies like Bitcoin, plus traditional assets like stocks, ETFs, and commodities.