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

Suncorp clients who are interested in the digital asset market can trade cryptocurrencies by transferring funds to AUSTRAC-regulated exchanges, complying with Australia's financial regulations.

eToro is the preferred choice for its quick AUD deposits and wide range of over 4,500 digital assets, stocks, ETFs, and commodities. Trusted by over 30 million investors, it earns our recognition as the go-to platform for Australian 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 Suncorp Bank?

Suncorp customers now have the opportunity to delve into the realm of cryptocurrency by converting their Australian Dollars (AUD) for various digital assets like Bitcoin through regulated investment platforms.

The bank approves the transfer of funds into digital currency exchanges in Australia licensed by the Australian Transaction Reports and Analysis Centre (AUSTRAC), adhering to the country's laws and regularions.

How to Buy Crypto with Suncorp Bank

The best method to buy and sell crypto with a Suncorp Bank account or card is by using the eToro exchange. Suncorp customers can deposit Australian dollars to eToro through multiple payment methods, including bank transfer, POLi, credit card, debit card, Skrill, and Neteller. Once your funds have been deposited, they can be used to trade thousands of assets in a regulated environment.

  1. Open a free eToro account and complete the verification process.
  2. Tap 'Deposit Funds', pick a method, and send AUD from Suncorp.
  3. Use the search bar to find the desired crypto, then click 'Trade'.
  4. Enter the investment amount and click 'Open Trade'.

Does Suncorp Block Crypto Transactions?

Suncorp maintains an open approach to cryptocurrency, allowing its customers the freedom to engage with digital currencies. The bank facilitates the seamless transfer of funds to cryptocurrency exchanges, supporting the evolving interests and financial strategies of its clients, all while ensuring robust compliance with legal standards.

For individuals looking to dive into the world of cryptocurrencies, it's crucial to interact with exchanges that are in full compliance with the KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations set forth by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Digital Asset Investing Fees

Getting a handle on the costs associated with digital asset exchanges is crucial for making smart investment decisions. Here's a breakdown of eToro's fee structure:

  • Deposit Fees: Adding funds to your account can come with charges. While there's no fee for deposits in USD, converting from AUD can incur a fee ranging from 1.5% to 3%.
  • Withdrawal Fees: eToro keeps things transparent with a straightforward $5 fee for withdrawals. The cost for withdrawing crypto varies, depending on the network's congestion at the time.
  • Trading Fees: When you trade on eToro, there's a 1% fee added to the spread. The spread is the difference between the buying and selling prices of an asset.

For those who trade frequently or hold significant assets on eToro, considering the platform's membership tiers could be beneficial. These tiers offer reduced fees and perks such as dedicated account support, which can be particularly appealing to investors with large portfolios.

Closing Thoughts

To sum up, while Suncorp Bank does not directly provide cryptocurrency trading through its platform, it supports its customers' engagement through safe and regulated exchanges. Our analysis identified eToro as the best option for Suncorp clients, given its strong safety track record and registration with AUSTRAC. It provides fast AUD deposits to buy, sell and trade over 4,500 digital currencies, stocks, commodities, ETFs and more.

Author

Richard Zhang, the founder of StacksOnChain, comes with a rich history in finance and a background as a High-Frequency Trading engineer and computer science scholar. With over a decade in the industry, he fervently advocates decentralized financial systems, imparting his extensive knowledge to a global readership.

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