How to buy crypto at Great Southern Bank (2023) > Bitcoin & more!
Did you know that you can buy crypto from Great Southern Bank without any problems? By following the steps in this article, you can own Bitcoin or Ethereum as early as tomorrow!
How to buy crypto at Great Southern Bank?
Step 1: open an account with a crypto exchange
You cannot buy crypto directly from most banks in Australia. Great Southern Bank is no exception. Fortunately, however, you can buy Bitcoin & other crypto without any problems by opening an account with a popular crypto exchange:[table “9” not found /]
Step 2: activate account & deposit money
Then activate your account by uploading a copy of your ID or passport. Most crypto exchanges will quickly check that everything is in order and you can then start trading your favourite cryptos right away.
You can directly deposit money from your Great Southern Bank account to the crypto exchange. Remember to check how high the transaction fees are for transferring money to the relevant crypto exchange.
Step 3: buy crypto at Great Southern Bank
Then navigate within the crypto platform to the cryptocurrency you want to buy. It is wise to analyse the crypto; you can do this, for instance, by reading the whitepaper. In the whitepaper, the developer explains the function of the crypto. Cryptos that have a clear function have more potential and can potentially increase in value.
Within the order screen, you then enter the amount for which you want to buy the crypto in question. Never invest all your money in one crypto; cryptos are very volatile and you could lose a large part of your investment that way. Then press buy to send the transaction and wait a few seconds to minutes. Voila, you have now bought crypto using your Great Southern Bank account!
What is Great Southern Bank’s policy towards crypto?
Great Southern Bank is innovative; for instance, they invested $32 million in a new fintech. However, Great Southern Bank is limited in size, so I think it will be some time before you can invest in crypto at this bank.
Fortunately, Great Southern Bank is not anti-crypto either: so you can just deposit money on crypto exchanges. Just be sure to choose reliable parties; that way you avoid losing the amount you deposit to a scammer.
What is the Great Southern Bank?
Great Southern Bank is Australia’s largest customer-owned bank. The bank has 40 branches mainly found on the east coast. The bank was founded back in 1946, so it has a long history.
Can you buy Bitcoin from Great Southern Bank?
Yes and no; you cannot buy Bitcoin directly from Great Southern Bank, but with a work around, you can still get your hand on your favourite crypto. If you follow the steps in this article, you can invest in various crypto without any problem. Just be sure to read up and invest only in assets you understand.
Over Alex Mostert
Already in 2015 I bought my first Bitcoins for roughly $300, only to sell them shortly after for $900. At the time I thought I benefited from the deal of the century, but I, of course, had no idea Bitcoin would become as popular as it is today. On this website, I want to teach everybody how to buy Bitcoin through their bank.