How to Buy Crypto with Ubank [2024]

Summary: Unfortunately, Ubank doesn’t offer cryptocurrency trading services on its platform, so its customers can’t buy digital assets directly. However, Ubank customers can use their banking accounts to transfer funds to third-party crypto brokers such as eToro and buy cryptocurrencies that way.

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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 Ubank? 

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

How to buy crypto with Ubank?

The best way to buy Bitcoin or any other cryptocurrency with a Ubank account in Australia is through a reputable broker like eToro.

eToro is a widely trusted multi-asset investing platform with over 80 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 Ubank: 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 Ubank 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 Ubank

Ubank is an Australian online-only bank established in 2008 as a division of National Australian Bank (NAB). The bank provides various home lending and banking services through its mobile app. Since Ubank operates under the NAB banking license, customer deposits of up to $250,000 are protected under the Government Financial Claims Scheme. 

Is Ubank part of NAB?

Yes, the digital-only direct bank Ubank is a National Australia Bank (NAB) subsidiary established in 2008 to create a presence in the “self-directed” customer segment.

Ubank crypto policy

Ubank Bank does not offer any cryptocurrency-related products through its online platform. However, Ubank customers can connect their banking accounts to regulated crypto exchanges if they wish to invest in digital assets.

Whereas the bank’s online site doesn’t offer any guidance on cryptocurrencies, Ubank’s parent company NAB encourages its customers to stay vigilant against investment scams, offering some advice on its website for spotting digital asset fraud online, such as rug pull scams or pump-and-dump schemes.

How to buy crypto safely

Over time, the investment community has shifted from rejecting cryptocurrencies entirely to slowly considering their potential uses. That said, crypto assets still remain highly volatile compared to more traditional financial instruments such as stocks or bonds.

Fortunately, there are protective measures you can abide by to ensure you’re being careful when buying crypto. Let’s look at a few recommendations you might want to pay attention to when getting started with digital assets 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;
• Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record;
• 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. 

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