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How to Buy Crypto with Macquarie Bank in Australia

Last updated on November 12, 2023

Quick Summary: While Macquarie 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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Macquarie Bank Homepage

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

Thankfully there are many crypto exchanges to pick from that allow you 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 Macquarie Bank

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 Macquarie Bank.

Buy Crypto With eToro

About Macquarie Bank

Macquarie Group Limited (/m@’kwo:ri/) is an Australian international financial services firm. Based in Australia (ASX MQG), Macquarie employs more than 17,000 people across 33 markets. It is the world’s biggest infrastructure asset manager as well as Australia’s top advisor for mergers and acquisitions, with more than 737 billion of funds under administration.

The 1980s saw significant market deregulation in Australia which included that of floating the Australian dollar and the elimination of foreign banks’ restrictions. To make the most of the opportunities created by the deregulation process, HSA submitted a proposal to establish a brand new, substantially Australian controlled and owned bank, to be known as Macquarie Bank Limited. The authority to allow HSA to change its name to Macquarie Bank Limited (MBL) was granted by the Treasury Secretary of the Federal Government Paul Keating on 28 February 1985, making it the second private-trading bank that was established in Australia in the modern era.

On July 29, 1997, Macquarie Bank Limited listed on the Australian Securities Exchange (ASX:MQG). At the end of October, Macquarie was listed on into the ASX All Ordinaries Index, with an estimated market capitalisation of A$1.3 billion. The company would expand to over A$35 billion by the year 2018 to become one of Australia’s biggest listed companies.