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How to Buy Crypto with Elders Rural Bank in Australia

Last updated on November 12, 2023

Quick Summary: While Elders Rural 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 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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Elders Rural Bank Homepage

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

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

Once you’ve signed up to a crypto exchange (in our example I’ll be using eToro as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Rural Bank

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

1. Pick a cryptocurrency 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 Elders Rural Bank.

Buy Crypto With eToro

About Elders Rural Bank

Rural Bank was founded in 2000 as a joint venture with Bendigo Bank and Elders Ltd. The initial name was Elders Rural Bank, it offered specialized banking services to the rural and regional Australia at a time that important banks were being cut off by the big banks.

Then, in August of 2009 Elders Rural Bank Limited changed its name to Rural Bank Limited and, in December of 2010, Rural Bank became a fully owned subsidiary of the Bendigo and Adelaide Bank Group. A distribution agreement was signed between Rural Bank and Elders saw the Elders Agri Finance team sell Rural Bank products.

In March of 2019 the Elders Agri Finance team members officially became part of Rural Bank. Rural Bank team as employees of Rural Bank, along with an updated distribution agreement, making a lasting and profitable working relationship. From May 31st, the year 2019, Rural Bank has operated as a subsidiary from Bendigo in addition to the Adelaide Bank Group.

In the past few years, Their business structure has grown however, it has not changed. Rural Bank’s services and products are available in over 400 locations across the nation through a network of banks and banking partners, as well as their own lending specialists for agribusiness who are based in regional and rural centres all over the country.

The future of agriculture is bright. They are pleased to help the Australian agricultural business community through local support and cooperation with other industry organizations. They are committed to providing exceptional information, financial services, and direction to enable Australian farmers to increase their production.