How to Buy Crypto with Bank of Queensland [2024]

Summary: To buy crypto with Bank of Queensland, we suggest using a reputable broker platform. After analyzing more than ten crypto brokers, we concluded eToro to be the best choice for BOQ customers, as it offers low fees and a large selection of digital assets.

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Can you buy crypto with the Bank of Queensland? 

You can buy crypto with the Bank of Queensland, but you need to link your bank account to a licensed cryptocurrency exchange, as BOQ does not offer cryptocurrency trading services directly through its platform.

How to buy crypto with the Bank of Queensland?

The best way to buy crypto with a Bank of Queensland account in Australia is through a renowned broker like eToro, which is a widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as “Copy Trading,” which enables users to copy top-performing crypto traders, in addition to a staking service, custom watchlist, as well as advanced charts and technical analysis tools. 

How to buy crypto with Bank of Queensland: Step-by-Step

You can get started in minutes with four simple steps:

• Step 1: Create an account on eToro and complete your verification (personal or company);
• Step 2: Enter the AUD amount you want to deposit on the eToro platform;
• Step 3: Connect your BOQ account to deposit your selected fiat currency;
• Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.

Disclaimer: eToro AUS Capital Limited ACN 612 791 803 AFSL 491139. Crypto assets are unregulated and highly speculative. There is no consumer protection. You risk losing all of your capital. Refer to eToro’s Terms and Conditions. See full disclaimer.

About Bank of Queensland

Bank of Queensland, colloquially known as BOQ, is an Australian retail bank headquartered in Brisbane, Queensland. They operate as a franchise, meaning many of the bank’s 160 branches across the country are run by franchisees known as “owner-managers.” BOQ offers its clients a wide selection of services, including business and personal banking, as well as lending, investment, and wealth management products. 

Bank of Queensland crypto policy

BOQ’s online platform does not support the buying, selling, or trading of digital currencies. However, its customers can link their banking accounts to regulated crypto exchanges if they wish to invest in crypto.

It is important to note that even though BOQ customers can use their debit cards to buy crypto, they are prohibited from using their Bank of Queensland credit cards to invest in digital assets. You can find the OQ crypto policy on the BOQ website, which highlights the rules as follows:

Changes to the BOQ Credit Card Terms and Conditions, effective 1 July 2021:

“We have included reference to cryptocurrency-related transactions as transactions you cannot make on your credit card. Accordingly, we’ve updated the final bullet of the clause as follows:

Cardholders must not, or won’t be able to: invest in shares or other financial products. In addition, cardholders must not, or won’t be able to: invest in shares or other financial products or for cryptocurrency-related transactions.“

How to buy crypto safely

To buy crypto safely in Australia, investors should adhere to the following steps:

• Choose a reputable exchange: Opt for an AUSTRAC-registered exchange with strong security measures; 
• Secure your account: Use two-factor authentication and create strong passwords;
• Educate yourself: Learn about the cryptocurrencies you want to invest in and understand the market;
• Use secure wallets: Store your crypto in secure crypto wallets; 

• Invest wisely: Only invest what you can afford to lose and approach the crypto market conservatively to handle its volatility.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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