How to Buy Crypto with Bank of Queensland

Bottom Line: Bank of Queensland does not offer cryptocurrency-investing services directly through its platform. However, BOQ permits its clients to buy crypto through regulated licensed and regulated digital asset exchanges. The Australian Securities and Investments Commission (ASIC) is the primary regulator in the country, and it’s essential to choose a platform that is registered in Australia.

Our expert team has conducted a detailed examination of the country's leading exchanges and has concluded that eToro as the top option for BOQ clients as it offers instant AUD deposits to trade over 3000 assets. As a multi-asset exchange, eToro offers several asset classes including Crypto, Stocks, Indices, Currencies, ETFs and Commodities like Gold and Silver.

Can I Buy Crypto with Bank of Queensland?

The Bank of Queensland does not directly facilitate buying Bitcoin or any other cryptocurrencies via its online banking interface. However, the bank does permit its customers to transfer funds to reputable cryptocurrency exchanges within Australia. To safeguard your investments, it's essential to select a platform regulated by the Australian Securities and Investments Commission (ASIC).

‍How to Buy Crypto with Bank of Queensland

As stated above, the best way for BOQ customers to buy and sell cryptocurrency is through the eToro exchange. 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.

BOQ customers can get started with this short and simple guide:

  1. Open a free account on eToro and complete the verification process.
  2. Click 'Deposit Funds', pick a method, and transfer AUD from Bank of Queensland.
  3. Go to the search bar, locate the desired token, and click 'Trade'.
  4. Enter the amount you wish to purchase and click 'Open Trade'.
‍How to Buy Crypto with Bank of Queensland.

Bank of Queensland Cryptocurrency Policy

BOQ embraces the potential of cryptocurrencies, adopting a positive stance towards their use and integration into the financial ecosystem. The bank supports its customers by approving transactions to and from regulated digital asset exchanges, enabling them to buy and sell cryptocurrencies with ease. There is nothing highlighted in the banks terms and conditions that would prohibit transactions to AUSTRAC-registered platforms.

Deposit and Trading Fees

For those considering diving into the world of cryptocurrency via BOQ, it's essential to comprehend the potential expenses related to such ventures. Let's examine the usual costs that you might encounter while handling digital assets:

  • Transfer Costs: BOQ differs from cryptocurrency exchanges that offer free deposits, by potentially implementing specific transfer fees. It's wise to verify these charges with the bank before depositing. Deposits conducted through a credit card associated with a BOQ account may be subject to a fee exceeding 2%.
  • Trading Charges: A majority of cryptocurrency trading platforms typically enforce a spread, which is a minor percentage of each transaction. The extent of this spread fluctuates based on the particular cryptocurrency and the platform, usually around 1%.

Remember, costs can vary across different platforms. Thus, it's advisable to meticulously scrutinise the existing fee details from both your selected cryptocurrency exchange and BOQ.

The Bottom Line

To summarise, although Bank of Queensland customers cannot buy cryptocurrencies directly through the bank's platform, they can still safely invest in digital assets through ASIC-regulated platforms. For BOQ clients seeking a smooth trading experience, eToro is the best option, with over 3000 available assets available to trade, it provides Aussie investors with the opportunity to create a diversified portfolio.


Can I use a credit card from BOQ to buy cryptocurrencies?
What is the Bank of Queensland's policy on cryptocurrency?
Are there trading charges for cryptocurrency transactions?

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