How to Buy Crypto with Macquarie Bank [2023] | Step-by-Step

Summary: Macquarie Bank doesn’t offer its clientele the chance to buy cryptocurrencies on its own platform. Instead, Macquarie customers can connect their banking accounts to a licensed cryptocurrency broker to purchase digital assets like Bitcoin (BTC) and Ethereum (ETH). 

In short, to buy crypto with Macquarie, investors in Australia will need to sign up with a regulated crypto exchange like eToro and deposit AUD from their Macquarie account.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

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Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Can you buy crypto with Macquarie? 

You can buy crypto with Macquarie, but you need to link your bank account to a licensed cryptocurrency exchange. As mentioned above, this is because Macquarie Bank does not offer the buying and selling of cryptocurrency directly through its platform.

How to buy crypto with Macquarie?

The best way to buy Bitcoin or any other cryptocurrency with a Macquarie account in Australia is through an AUSTRAC (Australian Transaction Reports and Analysis Centre)-registered and ASIC (Australian Securities and Investments Commission)-regulated 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 Macquarie: 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 Macquarie 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.

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts

Get Started

Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

About Macquarie

Macquarie Bank is an Australian bank that operates as a subsidiary of Macquarie Group Limited. The bank provides a comprehensive selection of retail and business banking as well as financial services, primarily in Australia. 

Services offered by Macquarie include: 

• Personal banking: Checking accounts, savings accounts, term deposits, credit cards, and home and car loans;
• Business banking: Business checking accounts, credit cards, loans, merchant solutions, and accounting and financial services;
• Wealth management: Financial advice, superannuation and pension products, managed funds, online trading, property investing, as well as margin loans.

Macquarie’s crypto policy

Macquarie Bank does not offer the buying, selling, or trading of cryptocurrencies through its own platform. That said, Macquarie customers can connect their banking accounts to regulated crypto exchanges if they wish to invest in digital assets.

The bank urges its clients to stay mindful of crypto investments, with risks outlined in this cautionary report. 

How to buy crypto safely

While investing in cryptocurrencies has become relatively mainstream, crypto assets remain highly volatile compared to more traditional asset classes such as stocks or bonds. In addition, crypto space is teeming with scams and cybercrime, as well as bankruptcies and scandals, putting both seasoned and novice investors at risk. 

Furthermore, although cryptocurrency broker-dealers in Australia are required to register with AUSTRAC, ensuring anti-money laundering (AML) and counter-terrorism financing (CTF) procedures are in place, digital assets themselves are not regulated in Australia.

Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Let’s look at a few tips on what you should do when getting started with digital assets and how to best protect yourself and your money:

• Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are; 
• Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
• Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
• Secure your account: Use two-factor authentication and a strong password to protect your account;
• Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
• Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
• Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in. 

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

FAQs about how to buy crypto with Macquarie: