How to Buy Crypto with CommBank

Bottom Line: CommBank did previously offer 10 Cryptocurrencies directly through its mobile app, but has since removed this service. If you’re a Commonwealth Bank customer who wants to invest in Crypto, you will need to go through a secure, regulated and ASIC-licensed digital asset exchange. There are many reputable and reliable options to choose from in Australia.

After evaluating multiple digital asset exchanges, our experienced team has concluded that eToro is the most suitable choice for CommBank clients. eToro is a multi-asset exchange that allows Aussies to invest in six asset categories, including crypto, stocks, commodities, and more. In addition to offering a wide range of assets, it is also considered the most secure trading platform in the country.

What is the Best Crypto Exchange for CommBank?

CommBank does not currently support the ability to buy and sell Bitcoin or cryptocurrencies through its NetBank or CommSec App. This means that investors will need to utilise a trusted and AUSTRAC-regulated crypto exchange to buy and sell digital assets.

Based on our analysis, the top crypto exchange in Australia for CommBank customers is eToro because it offers instant AUD transfers via direct deposit, PayID, POLi, debit card and credit card. They are also the only exchange in Australia that offers over 3,000 assets than span across cryptocurrencies, equities, ETFs, commodities and more.

How to Buy Crypto with CommBank

CommBank customers can buy Cryptocurrency like Bitcoin and Ethereum through the most secure trading platform in Australia, eToro. Simply deposit AUD to eToro from your CommBank account via one of the following payment methods - POLi, Bank Transfer, Credit Card, Debit Card, or PayPal.

Get started with this step-by-step guide:

  1. Sign up to eToro and complete the verification process.
  2. Click 'Deposit Funds', pick a method, and send AUD from CommBank.
  3. Go to the search bar, find the Crypto you want to buy, and tap 'Trade'.
  4. Input the amount you want to invest in the token and tap 'Open Trade'.
Buy Crypto CommBank.

CommBank Cryptocurrency Policy

CBA has showcased a forward-thinking approach towards cryptocurrency, embracing the digital asset revolution and previously offered customers the ability to buy, sell, and hold various cryptocurrencies directly through its mobile app. By integrating cryptocurrency trading and services within its innovative digital banking platform, CBA has demonstrated its commitment to providing cutting-edge financial solutions and adapting to the evolving needs of its clients. 

This progressive stance has reinforced CBA's position as a trailblazer in the Australian banking industry, further bolstering its reputation as a modern and responsive financial institution that caters to the diverse preferences of its customers in a rapidly changing financial landscape.

About Commonwealth Bank

The Commonwealth Bank (CBA), established in 1911, is Australia's largest and most prominent financial institution, offering a comprehensive range of banking and financial services such as retail banking, wealth management, insurance, and investment solutions. With a strong commitment to customer satisfaction and innovation, CBA's extensive network comprises over 1,000 branches and thousands of ATMs across the nation.

Its digital banking platform delivers cutting-edge, user-friendly technology for seamless transactions. The bank's emphasis on sustainability and community engagement, combined with its robust financial performance and diverse product offerings, has cemented its position as a leading player in the Australian financial landscape, making it a top choice for individual and business customers alike.

The Bottom Line

In summary, CommBank no longer offers direct cryptocurrency trading through its app, requiring customers to use a secure, regulated, and ASIC-licensed digital asset exchange for crypto investments. Our analysis recommends eToro as the top choice for CommBank clients due to its multi-asset capabilities, various AUD deposit methods, and secure trading platform.


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