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How to Buy Crypto with HSBC Bank Australia

Last updated on November 12, 2023

Quick Summary: While HSBC Bank 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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HSBC Bank Australia Homepage

As mentioned in my quick summary, like most Australia banks, HSBC Bank 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.

There are a large number of cryptocurrency exchanges 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 HSBC

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 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 HSBC Bank Australia.

Buy Crypto With eToro

About HSBC Bank Australia

HSBC Bank Australia Limited (formerly The HongkongBank of Australia Limited ) is the Australian subsidiary of HSBC. The bank offers a diverse array of financial services available in Australia by way with 36 branch offices. The services offered include commercial and retail banking and trade finance, financial planning and financial markets, treasury as well as cash and payments management, as well as securities custody.

HSBC Bank Australia was granted an operating licence for banking in the year 1986, even though the bank first set up an Australian presence under the name of Hongkong Finance Ltd in 1964. It is a foreign-owned bank that is based in Australia and offers a diverse array of banking services and products for commercial, retail, corporate and institutional markets.

The headquarters of the bank is in Barangaroo which is a suburb of central Sydney.

HSBC received an Australian banking license in 1986, following it was discovered that the Australian federal government amended the guidelines to let foreign banks to enter the country. HSBC is not the very first foreign institution to come into Australia and the first one was Chase-AMP however HSBC was among the first foreign players to enter the banking sector for business.

HSBC offers a broad range account types in Australia which include savings and transaction account, deposit accounts for term as well as account for foreign currencies.

All of the transaction accounts offered by HSBC include the linked Visa Debit card, fee-free access to more than 3000 ATMs throughout Australia. These include ATMs from HSBC as well as banks that provide free ATMs as well as access to internet and mobile banking and are rated 5 stars for exceptional quality by Canstar.