While it is not possible to buy crypto with Macquarie Bank, clients can still invest in digital assets by transferring Australian dollars (AUD) from their Macquarie accounts to cryptocurrency exchanges regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).
While Macquarie Bank does not facilitate crypto transactions, it allows customers to send funds to reputable crypto trading platforms. By complying with AUSTRAC’s regulations, Macquarie enables clients to participate in the cryptocurrency market through secure and regulated third-party services. Our role is to guide Macquarie account holders in understanding their options for crypto investing and recommend vetted exchanges that enable seamless connections.
According to our extensive analysis, eToro is the premier solution for Macquarie users seeking cryptocurrency exposure. As an AUSTRAC-registered entity with over 3,000 tradeable assets, eToro presents an optimal opportunity to integrate digital assets alongside Macquarie’s traditional banking tools.
With over 3,000 tradeable assets on eToro, including popular cryptocurrencies, clients can build diversified investment portfolios alongside Macquarie’s traditional banking services.
Step-By-Step Guide: How to Buy Crypto with Macquarie Bank
Follow this straightforward process to purchase cryptocurrencies using your Macquarie Bank account and the regulated eToro platform:
Step 1: Create an eToro Account
Visit eToro and register for an account by providing your name and email address and setting a password. Complete identity verification steps for security.
Step 2: Link Your Macquarie Account
In the “Deposit” section of your eToro account, choose “Bank Transfer” as your payment method. Enter your Macquarie account details to connect it for AUD transfers.
Step 3: Deposit AUD Funds
After linking your Macquarie account, transfer funds in AUD currency to eToro to credit your trading wallet balance.
Step 4: Buy Cryptocurrencies
Use the deposited AUD funds to invest in your choice of crypto assets like Bitcoin, Ethereum, Cardano, and more!
Although the purchase process may differ slightly between platforms, linking your bank account is the most crucial aspect to get started.
What is Macquarie Bank’s Approach to Cryptocurrency?
While Macquarie Bank does not directly facilitate crypto transactions, they allow transfers to AUSTRAC-regulated exchanges like eToro. This enables clients to explore digital asset investments within a compliant framework safely.
Macquarie adopts a balanced approach – acknowledging cryptocurrency’s risks and innovative potential while prioritizing customer security and regulatory standards.
What if Macquarie Becomes Crypto-Unfriendly in the Future?
In the unlikelihood that Macquarie Bank restricts transactions with cryptocurrency platforms, clients have a few options to continue investing in digital assets:
- Switch Banks – Consider opening an account with a more crypto-friendly bank in Australia that allows transfers to regulated exchanges.
- Use a Payment Service – Alternatively, utilize a payment platform like PayPal that supports crypto networks and integrates with most Australian bank accounts.
For those interested in using UK-based banking apps to invest in crypto, read our guide on How to Buy Crypto with Monese Bank – an increasingly popular choice among mobile users and travelers.
Clients based in Sweden and the Nordic regions can also securely participate in the thriving crypto economy. Discover the process of Buying Crypto with SEB Bank, one of the largest financial groups across Northern Europe.
And for British investors who prefer established investment managers, find out steps for Buying Crypto with Hargreaves Lansdown – an FTSE 100 broker managing over £125 billion in assets.
While Macquarie Bank does not provide direct onboarding to cryptocurrencies, they facilitate critical funding transfers and AUD transactions with regulated exchanges like eToro. Macquarie customers can integrate digital assets into their portfolios by following compliant platforms.
However, crypto investors must educate themselves on the volatility and risks involved with cryptocurrency markets for responsible investing.
Does Macquarie Bank allow crypto purchases directly?
No, Macquarie Bank currently does not allow customers to directly buy, sell or hold cryptocurrencies. However, account holders can transfer AUD fiat currency to regulated crypto exchanges.
What is the best cryptocurrency exchange for Macquarie Bank clients?
Based on security, regulation compliance, low fees, and AUD support – eToro emerges as the best option for Macquarie account holders to fund their crypto investments.
Can I withdraw crypto assets back to my Macquarie account?
Unfortunately, you cannot directly withdraw cryptocurrency holdings like BTC or ETH into a Macquarie account. You would need to cash out into AUD fiat currency on the crypto exchange before transferring the money back to your Macquarie bank account.