How to Buy Crypto with Westpac [2024]

Summary: We recommend using a trusted broker platform like eToro to buy crypto with Westpac. After testing more than ten leading trading platforms, we concluded eToro to be the best choice for Westpac Bank customers, as it offers low trading fees and a wide selection of cryptocurrencies.

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

• 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

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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 Westpac? 

Yes, you can buy crypto with Westpac, but you need to link your bank account to a licensed cryptocurrency exchange, as Westpac does not support cryptocurrency trading directly through its platform.

How to buy crypto with Westpac?

The best way to buy crypto with Westpac in Australia is through a well-trusted broker like eToro, which is a widely popular 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 Westpac: 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 Westpac 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 Westpac

Westpac Banking Corporation, commonly known as Westpac, is an Australian multinational financial and banking institution headquartered in Sydney, Australia. Westpac is one of the Big Four banks in Australia, as well as the country’s first and oldest bank. The bank serves approximately 14 million customers worldwide, offering a comprehensive range of retail, business, and corporate banking and financial services. 

Westpac crypto policy

While Westpac doesn’t offer crypto through its platform, they recognize the potential of digital assets to alter the financial landscape and are actively collaborating with industry partners on what that could look like. In fact, chief technology officer David Walker told iTnews in July 2022 that the bank is “reviewing the space” and that they’ve been: 

“exploring blockchain technologies for some time, recognizing the benefits it could have not only for customers but for streamlining parts of the wider financial system as well.” 

So, to sum up, while Westpac does not offer buying, selling, or trading digital currencies through its platform, its customers are free to link their banking accounts to regulated crypto exchanges if they wish to invest in crypto.

How to buy crypto safely

Buying cryptocurrency safely involves a series of steps: 

• Step 1: Ensure you use a reputable and AUSTRAC-registered exchange that adheres to strict anti-money laundering and counter-terrorism financing laws; 
• Step 2: Employ robust security practices such as two-factor authentication and strong, unique passwords for your accounts; 
• Step 3: Educate yourself about the specific cryptocurrencies you intend to invest in, including their technology and market trends; 
• Step 4: Store your digital assets in secure wallets—preferably hardware wallets for large amounts;
• Step 5: Never invest more than you can afford to lose, maintaining a conservative approach to manage the inherent volatility of crypto markets.

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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