How To Buy Crypto with Macquarie Bank

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a cryptocurrency exchange. However, that doesn’t mean you can’t use your Macquarie Bank account to buy crypto.

All you need is a reliable and trusted crypto exchange. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.

Buy Crypto with eToro

How to buy crypto or bitcoin with Macquarie Bank

As stated above, just like with the vast majority of Australian banks, you can’t buy crypto with Macquarie Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a cryptocurrency exchange.

However, luckily for us, there are plenty of cryptocurrency exchanges to choose from that you can use to buy bitcoin or any other cryptocurrency you might want.

1. Choose a cryptocurrency exchange

While there are a lot of crypto exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.

The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).

Let’s get into it!

etoro crypto

2. Create an account on the exchange

The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.

Sign Up with eToro

eToro sign up form

3. Transfer funds into the account

Transferring funds from your Macquarie Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.

4. Buy cryptocurrency

Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.

And that’s it, you now have some crypto, congratulations!

Buy Crypto with eToro

 

 

About Macquarie Bank

Macquarie Group Limited (a global financial service group) is Macquarie Group Limited. Macquarie is listed in Australia with its headquarters. With more than 17,000 people in 33 markets, Macquarie is the largest infrastructure asset manager in world. The company operates in four operating groups: Banking and Financial Services; Commodities and Global Markets; Macquarie Asset Management and Macquarie Capital.

Macquarie was originally Hill Samuel Australia Limited. It was a subsidiary of Hill Samuel & Co. Limited. Stan Owens, an Australian businessman created a proposal for Hill Samuel & Co. in order to set up an Australian subsidiary. Owens presented his plan in London and was offered the job of implementing it. He became the Executive Chairman at Hill Samuel Australia (HSA). He founded the company in offices at Gold Fields House on Sydney's Circular Quay. Stan Owens, Blair Hesketh, and Geoff Hobson were the first three employees of the company. Later Chris Castleman, on loan from the British parent, and Bill Clarke joined. HSA was founded in 1971 by Mark Johnson and David Clarke. HSA made a profit within twelve months of its initial trading, despite the fact that it was given a four-year allowance from the British parent.

HSA secured Australia’s largest mandate, a US$60million financing for John Lysaght Australia in 1971. HSA expanded its presence on the Australian market by opening an office in Melbourne in 1972 and another in Brisbane in 1975.

HSA also participated in other business ventures over the decade. HSA pioneered foreign currency trading in Australia, began gold bullion trades, expanded its coverage of all listed commodities, and was the first merchant bank to be granted floor membership status at Sydney Futures Exchange.

Significant financial market deregulation took place in Australia during the 1980s, with the floating of Australian dollars and the elimination of restrictions for foreign banks. HSA submitted a proposal to form a Macquarie Bank Limited. It would be a substantially Australian owned and managed bank. Paul Keating, Federal Treasurer of Australia, granted HSA permission to form Macquarie Bank Limited on February 28, 1985. This made it the second modern private trading bank to open in Australia.

In the 1980s, it continued to grow its activities. It became Australia’s largest bullion trader. The organisation's long-standing history of uninterrupted profitability is due to the implementation of the risk management framework. Macquarie was not exposed to the October 1987 global stock market crash.

Macquarie's philanthropic arm, Macquarie Group Foundation was established. The foundation has donated more than $A330m in aid to community groups around the world. Macquarie Group Collection is one of Australia’s largest corporate art collections.

Macquarie Bank Limited became listed on the Australian Securities Exchange, ASX:MQG, on 29 July 1996. Macquarie, which had a market capitalization of A$1.3 billion at the time of its entry into the ASX All Ordinaries Index was listed on 30 October 1996. The company would eventually grow to A$35 billion by 2018[5] and become one of Australia’s most prominent listed companies.

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