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How to Buy Crypto with ME Bank in Australia

Last updated on December 15, 2023

Quick Summary: While ME 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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As mentioned in my quick summary, like most Australia banks, ME 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.

Thankfully there are many cryptocurrency exchanges 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 ME Bank

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

1. Pick a cryptocurrency trading platform

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 ME Bank.

Buy Crypto With eToro

About ME Bank

ME Bank, also known as ME, is an Australian direct bank with its headquarters in Melbourne. ME Bank no longer has branches in Sydney, Brisbane, Adelaide, Perth, Hobart, Canberra and Darwin. It was incorporated as an affiliate of the Bank of Queensland in July 2021.

In 1994, it was established in 1994 as Super Member Home Loans (SMHL) by the superannuation fund for industry in Australia. SMHL was transformed into Members Equity Bank in 1999 and was granted a banking license issued by the Australian Prudential Regulatory Authority (APRA) in July of 2001. The bank was subsequently approved by APRA to operate as an authorized institution for deposit taking authorized to take deposits made by the general public.

The company was initially established to provide access to mortgage products, ME Bank today offers a variety of low-cost banking products, including home loans credit cards, savings accounts term deposits, as well as transactions accounts.

ME Bank offers customers a array of banking services and products such as savings and transaction accounts, personal and home credit, term deposits as well as credit card.

ME Bank operates as a direct bank with no branch network. Support and services are offered via phone, the internet banking system, or through the mobile salesforce of bank managers.