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

Macquarie Bank does not facilitate direct cryptocurrency transactions but permits customers to move funds to accredited exchanges. Engaging with platforms approved by Australian regulators such as AUSTRAC is vital for ensuring safety and regulatory compliance.

Clients of Macquarie Bank seeking diverse investment options may find the eToro platform appealing. eToro offers a regulated environment for trading a wide range of cryptocurrencies, stocks, ETFs, and commodities.

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 Macquarie Bank?

Macquarie Bank does not offer direct cryptocurrency trading through its financial services. However, clients have the option to transfer funds to recognised exchanges. It's critical to use one regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC) to guarantee the security of your platform and assets.

Customers should be aware that the bank's digital banking interfaces, including mobile and web platforms, do not incorporate crypto wallets. Therefore, they must rely on external cryptocurrency trading platforms in Australia to manage their digital asset investments effectively.

How to Buy Crypto with Macquarie Bank

Macquarie Bank does not facilitate direct cryptocurrency transactions but allows the movement of funds to approved digital currency platforms. It's imperative to deal with regulated exchanges for secure transactions. For Australian clients interested in a range of investments, eToro offers a dependable platform regulated by AUSTRAC, enabling swift AUD transfers through various channels, such as bank transfers and debit cards.

  1. Start by creating an account on eToro, adhering to the straightforward account creation guidelines.
  2. Choose 'Deposit Funds,' pick your preferred transaction method, and initiate the transfer from Macquarie Bank.
  3. Utilise the search function to locate the cryptocurrency you wish to invest in and select 'Trade.'
  4. Specify the amount you want to invest and finalise by clicking 'Open Trade.'

Does Macquarie Block Crypto Transactions?

No, Macquarie does not block transfers to regulated exchanges. It supports its clients' involvement with digital currencies by approving transactions to recognised cryptocurrency investment platforms. This approach reflects the bank's commitment to offering a variety of financial options to its customers, facilitating their exploration of the evolving digital currency landscape.

Macquarie Bank advises its customers to only interact with exchanges that comply with Australia's KYC and AML regulations, overseen by the Australian Transaction Reports and Analysis Centre (AUSTRAC). This policy highlights the bank's focus on providing secure financial services in the digital age.

Digital Asset Investing Fees

Getting a handle on the fees linked to digital asset platforms is key to wise financial decisions. Here is a glimpse at eToro's fee framework:

  • Funding Fees: Transferring funds into your eToro account may incur fees. USD deposits are exempt, but expect a charge of 1.5% to 3% for AUD transfers.
  • Withdrawal Expenses: eToro streamlines fiat withdrawals with a flat $5 fee. For crypto, the fees adapt based on network congestion at withdrawal time.
  • Trading Charges: Trading activities on eToro come with a 1% fee besides the spread, the asset's buy-sell price differential, which can fluctuate depending on the asset involved.

Active traders or those with large investments might look into eToro's advanced memberships for fee discounts and extras, such as personal account managers.

Closing Thoughts

In conclusion, Macquarie Bank's approach to digital currencies reflects a blend of innovation and prudence, facilitating customers' access to the dynamic world of cryptocurrencies while prioritising security and regulatory adherence. By enabling transfers to regulated platforms like eToro, Macquarie empowers its clients to explore a spectrum of investment opportunities without compromising on safety. 

Author

Elena Boyaci is the proactive editor-in-chief of StacksOnChain, bringing her extensive journalism experience to the forefront. She spearheads a committed team, focusing on providing prompt and comprehensible updates on crypto and finance.

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