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How to Buy Crypto with ASB Bank in New Zealand

Last updated on November 25, 2023

Quick Summary: While ASB Bank does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of New Zealand cryptocurrency exchanges to pick from, but we suggest using the eToro exchange.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

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ASB Bank Homepage

As mentioned in my quick summary, like most New Zealand banks, ASB Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a cryptocurrency trading platform and comes with regulations and extra work for the banks.

There are a large number of crypto exchanges that you can use to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use eToro as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with ASB

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using eToro for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With eToro

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For eToro there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with ASB Bank.

Buy Crypto With eToro

About ASB Bank

ASB Bank Limited often known as ASB it is a bank controlled by Commonwealth Bank of Australia, which operates across New Zealand. It offers a variety of financial services, including rural, business and retail banking, money management, and also insurance services through the Sovereign Limited subsidiary, and the provision of securities and investment solutions through the ASB Group Investments and ASB Securities divisions. ASB also operates BankDirect which is a branchless banking service that allows service by telephone, Internet, EFTPOS and ATMs.

The bank has received numerous awards, including the NetGuide Award for the top financial services website both in 2007 and 2006. TUANZ Innovative Award to the Financial Service in 2001 2002, 2003 and 2005, and most recently the bank’s inaugural Best Online Banking Award in 2012.

ASB introduced pago in November 2006, an electronic payment system that allows anyone who has an New Zealand bank account to send funds cleared by online or mobile phones to another individual or merchant in immediate. The technology hasn’t worked in the manner ASB had hoped, with limited use and almost no major updates since the year 2010. ASB Securities, launched in 1999, is the most popular internet-based broker operating within New Zealand in terms of the volume of transactions in active customer.

The bank has enjoyed considerable success as it was one of the very first banks to offer novel products and services to the New Zealand market.