How to buy crypto at Newcastle Permanent?
In this short guide, you will learn directly how to buy crypto using your bank account with Newcastle Permanent. You can invest in Bitcoin, Ethereum & hundreds of other altcoins.
How to buy crypto at Newcastle Permanent?
Step 1: open account at crypto exchange
You cannot buy crypto directly with your Newcastle Permanent bank account. It is therefore best to open an account with a crypto exchange:
[table “9” not found /]By opening accounts with different providers, you can discover which provider suits you best. Personally, I pay particular attention to the ease of use & reliability of a crypto exchange.
Step 2: deposit money into your account
After you have gone through the activation steps, you can directly deposit funds onto the exchange from your Newcastle Permanent account. It may take a few working days for the money to appear in your crypto exchange account. Fortunately, in my experience, this often takes a day at most.
Step 3: buying crypto with your Newcastle Permanent bank account
Then navigate within the platform to the crypto you want to buy. For example, I myself buy Bitcoin every month for a fixed amount using my Newcastle Permanent account. By periodically investing a fixed amount, also known as dollar cost averaging, you can achieve an average return on your investments.
Then enter the amount you want to invest within the platform. You can choose to set a stop loss, which will automatically close your position at a certain loss. You can also use a take profit, which automatically closes the position at a certain profit.
How much does investing in crypto cost?
With some crypto exchanges, you pay a commission: this is often between 0.25% and 1%. You will also have to deal with a spread: this is the difference between the buying and selling price of a crypto.
Also keep an eye on withdrawal and deposit fees. You sometimes pay extra fees for exchanging Australian dollars to US dollars. By paying close attention to fees, you can improve your results on crypto investments.
About the Newcastle Permanent sofa
Newcastle Permanent Bank’s motto is ‘here for good’ which shows that the bank wants to help its customers as much as possible. Newcastle Permanent Bank was founded in 1903 with the aim of helping families buy their first home. After several acquisitions, the bank evolved into the giant we know today.
It is legal in Australia to buy & own crypto. Therefore, when you open an account with a reliable crypto exchange, you can invest in Bitcoin & Ethereum with your Newcastle Permanent Bank account without any problems.
Can you buy Bitcoin at Newcastle Permanent Bank?
If you follow the steps in this article, you can buy Bitcoin and other crypto without any problems using your account at Newcastle Permanent Bank. This is because it is completely legal in Australia to link your bank account to a crypto exchange. Beginners, I always recommend trying the possibilities first with a free demo: that way, you’ll immediately discover whether trading crypto suits you.
