Quick summary: Even though Suncorp doesn’t offer crypto trading (yet), buying crypto using your Suncorp account is very straightforward.
We recommend using eToro to buy crypto, they’ve been around for a long time, they’re trusted and have over 50 cryptocurrencies to choose from.
To explain further, the reason Suncorp (and most other banks in Australia) doesn’t offer cryptocurrency or bitcoin through its own cryptocurrency trading platform, is partially because of the extra regulations and requirements that come with setting up a cryptocurrency trading platform.
Once banks see the potential upside of offering digital assets like cryptocurrencies, we might see them starting to offer those services.
For now, though, we’ll have to do it using third-party crypto trading platforms. Luckily for us, Australia has a good amount of trusted and AUSTRAC regulated trading platforms we can use.
How to buy crypto or bitcoin with Suncorp
- Choose a crypto exchange
- Sign up with the cryptocurrency trading platform
- Fund your account with AUD, or another cryptocurrency
- Buy cryptocurrency
1. Choose a cryptocurrency trading platform
There are a few good options to choose from when it comes to crypto exchanges for Australian traders.
As mentioned before, for this guide we’ll be using eToro as they have most of the popular cryptocurrencies available, have competitive fees, and offer something called social investing or copy trading, which is quite unique in the space.
This feature enables traders to copy or match the moves of other popular traders on the platforms, it’s pretty impressive.
2. Sign up with the crypto trading platform
Let’s start with just signing up with eToro.
The sign-up process is very quick, as is the verification that needs to be completed afterwards so you can get started.
3. Funding your account
Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.
Calculate how much you’d need depending on which crypto and how much you’re buying, choose a deposit method, and transfer the funds.
4. Buy cryptocurrency
Once the funds have landed in your account, it’s as simple as going to their Markets section, searching for the cryptocurrency you’re looking for, and buying it.
Congratulations, now you know how to buy bitcoin or crypto with Suncorp.
Frequently Asked Questions
Can I buy crypto with my debit card?
Yes, most crypto trading platforms in Australia allow you to buy cryptocurrency with your debit card.
Where can I buy crypto in Australia?
How can I buy Bitcoin in Australia?
You can buy Bitcoin using a cryptocurrency trading platform like eToro, Swyftx, Binance, or Coinspot. We also have this easy guide on purchasing btc in Australia.
More info about Suncorp
Suncorp Bank is part of the Suncorp Group with headquarters in Brisbane, Australia. Suncorp Bank was established in 1902 as Queensland Agricultural Bank. It has since grown to be the sixth largest bank in Australia.
Suncorp Bank was established in 1916 as the State Accident Insurance Office. It changed its name to State Government Insurance Office shortly after and expanded its operations into life, general, and Compulsory third party insurance. Over the years, finance operations, building society, and superannuation were added.
QIDC was established in 1986 and evolved from the Queensland Agricultural Bank, which was established in 1902. QIDC began its operations as a rural lender, but expanded to commercial lending to small- and medium-sized business.
The Queensland Government-owned Suncorp, QIDC and Metway Bank entities were merged on 1 December 1996 to form the new allfinanz group Suncorp Metway. Metway Bank's assets were approximately $7.1 billion at the time of the merger. Metway Bank was founded in 1959 as the Metropolitan Permanent Building Society. It was listed on the Australian Stock Exchange (ASX) in 1988 and converted to bank status.
Queensland State Government suggested the merger of these three companies in order to create a more efficient financial institution that is better equipped to meet future needs. Australia's fifth largest listed financial services group was created by the merger. The Queensland corporate headquarters of major Australian corporations also benefits from the economic impact. The merger and amalgamation between the three companies was completed on December 31, 1999.
Suncorp Bank, Australia's sixth largest bank, is a core component of the Suncorp Group.
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
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