How to buy crypto at NAB (2023): fast & reliable!
Wondering how to buy crypto from National Australia Bank without any hassle? By following the steps in this article, you can open your first investment in Bitcoin, Ethereum or any other crypto of your choice.
How to buy Bitcoin & other crypto at NAB?
Step 1: open an account with a reliable crypto exchange
NAB does not intend to offer buying & selling crypto products. However, by linking your account with NAB to a reliable crypto exchange, you can still buy & sell Bitcoin without any problems. In the overview below, you can immediately see which parties you can go to:[table “9” not found /]
Step 2: preparing your account
After you open an account, you still need to activate it. This is because international laws require financial institutions to take sufficient steps to combat money laundering & criminal practices.
After your account is activated, you can deposit funds directly using your National Australia Bank account. It can sometimes take a few working days for the transaction to be fully processed.
Step 3: buy crypto with your NAB account
You are now all set for your first crypto transaction! Within the trading platform, navigate directly to the crypto you want to buy. In this example, I am buying Bitcoin, but you can of course choose any other cryptocurrency.
Within the order screen, you then enter the amount you want to invest. You can choose to use a limit order: you will then only open the position when the Bitcoin price drops to a certain amount. However, you then run the risk that the position will not be opened at all. When you are satisfied with all the settings, you can place your first order.
Why can it be interesting to buy Bitcoin with NAB?
- Scarcity: there will never be more than 21 million Bitcoin released. When demand rises, the price can actually only go up.
- Blockchain: the technology behind it is revolutionary. It does beg the question whether Bitcoin remains the crypto of the future.
- Regulation: as crypto regulation increases, more and more financial institutions are embracing crypto currencies.
- Return: crypto prices are very volatile. As a result, you can make high returns from them in a short time (but also lose a lot, of course).
What does the NAB think about crypto?
The NAB is not negative towards crypto, but at the same time is not eager to offer crypto as an option for its customers. Indeed, after a survey, it was found that many customers do not fully understand the risks of this type of investment. As a bank, they then consider it irresponsible to offer crypto as an investment.
However, by opening an account with one of the aforementioned crypto exchanges, you can still buy Bitcoin, Ethereum or other crypto without any problems.
NAB or in full National Australia Bank is one of the biggest four banks in Australia. The bank is also a big player globally, as it ranks 21 in terms of market capitalisation and 52 when looking at assets. With 3,500 branches and more than 7,000 ATMs across Australia, New Zealand and Asia, NAB is definitely a big player.
Can you buy Bitcoin from NAB?
It is not possible to buy Bitcoin and other crypto at Australia Bank. This is expected to remain the case for a long time: this is because the bank does not believe that customers can properly assess the risks of crypto. However, by opening an account with a reliable crypto exchange, you can still invest in crypto with your bank account with NAB without any problems.