How to buy Crypto with ME Bank
If you want to invest in cryptocurrencies like Bitcoin and Ethereum with ME Bank, the best way is through eToro. ME Bank customers can deposit Australian dollars to eToro via POLi, Bank Transfer, Credit/Debit Card, PayPal, Skrill, or Neteller.
Follow this easy guide to begin your investing journey:
- Open a free account on eToro and complete the verification process,
- Tap the 'Deposit Funds' button on the bottom left of your screen.
- Click 'AUD', pick a payment method, and transfer funds from ME Bank.
- Finalise your deposit and buy your desired crypto in the search bar.
Buying Cryptocurrency Fees
Most digital asset exchanges will typically charge two costs when investing in crypto, the deposit and trading fee. The deposit fee is charged when you transfer AUD to the platform, and the trading fee is a commission by the exchange to facilitate the trade of fiat currencies to cryptocurrencies. On eToro, the trading fee is 1% anytime you buy or sell a token.
Does ME Bank allow crypto purchases?
Yes, ME Bank supports its customers in purchasing digital assets by approving all ingoing and outgoing transactions to regulated cryptocurrency exchanges. However, you must use a trading platform licensed by the Australian Transaction Reports and Analysis Centre (AUSTRAC). This is important for guaranteeing the security of your assets and the exchange you use.
About ME Bank
Established in 1994 and based in Melbourne, Australia, ME Bank is a digital-focused, customer-centric financial institution renowned for its wide range of services, including transactional accounts, home loans, personal loans, credit cards, and term deposits. Aiming to simplify personal finance for everyday Australians through innovative online and mobile banking services.
This direct bank operates without a physical branch network, providing secure, 24/7 online banking solutions, ensuring convenience and accessibility. Furthermore, ME Bank embraces a strong ethos of financial inclusion, with profits reinvested into the industry super fund that owns the bank.
To sum up, ME Bank customers can securely invest in cryptocurrencies like Bitcoin by using the eToro exchange. eToro provides instant AUD deposits via multiple payment methods to trade six asset classes with industry-level fees. It’s a great option for beginners as it offers a virtual trading platform where users can make paper trades up to $100,000 to practise and test strategies.