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How to Buy Crypto with National Australia Bank

Last updated on November 12, 2023

Quick Summary: While National Australia 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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National Australia Bank Homepage

As mentioned in my quick summary, like most Australia banks, National Australia 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 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 NAB

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

1. Pick a crypto 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 National Australia Bank.

Buy Crypto With eToro

About National Australia Bank

National Australia Bank is one of the four biggest banks in Australia (colloquially called “The Big Four”) in terms of earnings, market capitalisation and customers. NAB was ranked as the 21st largest bank worldwide based on market capitalisation and was ranked 52nd in the largest banks in the world measured by assets total in 2019. In January of the year 2019, NAB had 3,500 Bank@Post locations, which included 7,000+ ATMs throughout Australia, New Zealand, and Asia. They also serviced more than 9 million people.

NAB is rated “AA-” long-term issuer rating from Standard & Poor’s.

National Australia Bank was formed in 1982 as National Commercial Banking Corporation of Australia Limited in 1982 following the amalgamation of National Bank of Australasia and the Commercial Banking Company of Sydney. The new company was changed to National Australia Bank Limited.

On January 20, 2021 NAB made public plans to purchase the Neobank 86 400 for $220 million. Then, it will combine the two banks into UBank.

1 June 2022 National Australia Bank Limited (NAB) bought the business of consumer banking by acquiring Citigroup Pty Ltd (Citi) which is which is an Australian Branch of Citibank.

On the 19th of January, 2023 NAB declared that they would launch a stablecoin known as the AUDN. It will be affixed in relation to the Australian Dollar, and that the digital currency would be part of the Ethereum network. The goal is to simplify the process of transborder banking as well as be used to trade carbon credits. AUDN should go operational in the middle of 2023.