Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

Bank of Queensland supports the transfer of funds to reputable exchanges, adhering to the guidelines set by Australian regulatory bodies such as the Australian Transaction Reports and Analysis Centre (AUSTRAC). This ensures that you adhere to local financial laws and regulations.

For Bank of Queensland clients interested in broadening their investment portfolio, eToro is the most suitable option. It provides a regulated space for trading a diverse range of assets including cryptocurrencies, stocks, ETFs, and commodities. It offers innovative features such as social trading, allowing users to follow and copy the trades of successful eToro investors.

Capital at risk. See eToro PDS and TMD. AFSL 491139.
eToro Australia
eToro Australia

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating
9.8

Supported Assets

4,500 Cryptocurrencies, Stocks, ETFs and more.

Trading Fees

0% Fees and Variable Spread (1%).

Can I Invest in Crypto with Bank of Queensland?

Bank of Queensland doesn't provide direct services for cryptocurrency trading within its banking platform. Yet, customers are free to move funds to recognised exchanges, prioritising those regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) to ensure the safeguarding of their investment infrastructure and assets.

It's important for BOQ users to understand that the bank's online services, including its app and web banking, don't feature integrated crypto wallets. To oversee their digital asset holdings, clients should use authorised exchanges in Australia, guaranteeing a compliant trading environment.

How to Buy Crypto with Bank of Queensland

Bank of Queensland doesn't directly enable cryptocurrency purchases but permits transfers to recognised digital asset exchanges. Choosing platforms overseen by regulatory authorities ensures transaction security. In Australia, eToro is known for adhering to AUSTRAC's guidelines, offering clear methods for depositing AUD via bank transfers and credit cards.

  1. Initiate by registering an eToro account, following a straightforward sign-up procedure. 
  2. Click on 'Deposit Funds,' select your preferred method of deposit, and proceed to transfer funds from Bank of Queensland. 
  3. Utilise the search tool to locate your desired cryptocurrency and click on 'Trade.' 
  4. Enter the amount you wish to invest and complete your transaction by selecting 'Open Trade.'
How to Buy Crypto with Bank of Queensland

Does BOQ Block Crypto Transactions?

No, Bank of Queensland does not restrict its users from sending money to exchanges. BOQ allows transactions to regulated cryptocurrency platforms, aiding its customers in engaging with digital currencies by permitting movements to sanctioned trading venues. This policy underscores the bank's aim to diversify financial offerings for its clients.

BOQ encourages its patrons to only engage with exchanges adhering to Australia's KYC and AML standards, regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). This guidance mirrors the bank's commitment to secure financial interactions in the contemporary digital economy.

Digital Asset Investing Fees

Knowing the ins and outs of fees on digital asset exchanges is essential for astute financial planning. Let's delve into eToro's fee structure:

  • Funding Charges: Depositing funds into your eToro account might incur fees. USD deposits are free, but AUD deposits could attract a 1.5% to 3% fee.
  • Withdrawal Fees: eToro maintains simplicity with a $5 fee for bank transfers. For crypto, withdrawal fees are variable, depending on the network's activity level.
  • Trading Fees: On eToro, trades are subject to a 1% fee plus the spread, the difference between the asset's buy and sell prices, which can vary by asset.

Those engaging in regular trading or managing sizeable portfolios might benefit from eToro's membership tiers, which reduce fees and provide perks like individual account managers.

Closing Thoughts

To conclude, Bank of Queensland facilitates a bridge for its clients to the dynamic world of cryptocurrency investments, offering a secure pathway to regulated exchanges like eToro. With a focus on compliance and security, guided by Australian regulatory standards, BOQ empowers its customers to explore and expand their investment portfolios within a safe and regulated environment. 

Author

Nick Ng is a skilled analyst at StacksOnChain with expertise in both cryptocurrencies and traditional finance. His research offer valuable insights into market trends and investment opportunities for readers.

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