How to Buy Crypto with Citibank Australia

Last updated on November 12, 2023

Quick Summary: While Citibank Australia 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 Australia 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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Citibank Australia Homepage

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

Thankfully there are many crypto trading platforms to pick from that allow you 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 Citibank

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 cryptocurrency

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 Citibank Australia.

Buy Crypto With eToro

About Citibank Australia

Citigroup Pty Ltd (trading as Citi Australia) is the Australian subsidiary of Citigroup. It provides services for consumers in the field of banking (as Citibank Australia), which include credit cards, transaction and savings accounts and loans, insurance Self-Managed Superannuation Funds (SMSF) and also private, corporate, and investment banking, as well as wealth management.

Citibank Australia was opened in 1985. It was among the very first banks from outside of Europe granted a banking license in Australia in addition to having the distinction of being among Australia’s biggest international banks in Australia. In 2001, its nation’s headquarters of the bank has been in the Citigroup Centre in Sydney.

Citibank has major branches located in Melbourne, Perth and Brisbane and employs approximately 1,200. The subsidiary, Citigroup, has around 1 million customers in Australia as well as New Zealand, along with approximately 90 local corporate and institutional customers. Marc Luet is the Chief Executive Officer.