If you are an investor in Australia looking to buy Bitcoin on Commsec with your Commonwealth Bank account, unfortunately you are out of luck. The CommSec App does not yet support native buying of crypto assets like Bitcoin and Ethereum on their platform.
However, users can deposit AUD from their Commonwealth Bank account to trusted cryptocurrency exchanges like CoinSpot.
How to Buy Crypto with Commonwealth Bank
If you are a customer of the Commonwealth Bank, you can easily connect your bank account to a trusted exchange like CoinSpot to get started investing.
Below is a simple guide to buy crypto with your Commonwealth Bank account.
Visit the 'Deposit AUD' screen and connect your Commonwealth Bank account
Deposit the amount of AUD you wish to invest
Select the 'Buy' screen in the navigation menu and select the crypto you want to buy
Input the dollar amount you want to purchase and click 'Buy'!
Once you have completed your crypto purchase with CoinSpot, your cryptocurrency will be held in your CoinSpot managed wallet. From there you can choose to leave it their for safe storage, or withdraw it to a secure crypto wallet.
Commonwealth Bank Crypto Policy
Although the CommSec App does not directly support customers buying and selling digital assets, the Commonwealth Bank has no issue with their customers using cryptocurrency exchanges.
This ultimately means Commbank customers can freely deposit and withdraw Australian Dollars (AUD) into cryptocurrency trading platforms like CoinSpot without any hassle.
Does CommSec Pocket offer Crypto?
The CommSec Pocket app also does not support buying and selling of cryptocurrencies for Australian investors.
I spent 5 years as a Commercial Lawyer in Australia before stumbling across the innovations behind Bitcoin and the cryptocurrency space. Ever since, I have been committed to learning more and educating the broader Australian community about Bitcoin, hard money, investing and decentralized finance.
Crypto Ranking Australia is built to deliver the best cryptocurrency comparisons and reviews for traders and investors in the country. All content on www.cryptoranking.com.au is provided solely for informational purposes only and should not be misinterpreted as an endorsement to buy, sell or trade any cryptocurrency or product we recommend.