How to Buy Crypto with AMP Bank
Author: Marco Vela - Fact-checked ✓
Summary: While AMP Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party crypto trading platform.
There are plenty of Australian crypto exchanges to choose from, we recommend using eToro as the exchange to work with.
They have most of the popular cryptocurrencies available, are easy to work with, and have fantastic support!
Buy Crypto with eToro
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As mentioned above, just like most Australian banks, AMP Bank doesn’t offer cryptocurrency trading directly, as setting up a crypto trading platform is quite complex and comes with regulations and extra requirements for the banks.
There are many cryptocurrency exchanges that you can use for buying bitcoin and other cryptocurrencies.
You can sign up for an exchange (we will use eToro as our example because it is a trusted and worldwide exchange) and transfer funds to the exchange to trade crypto.
Table of Contents
How to buy crypto or bitcoin with AMP Bank
There are only 4 steps involved, let’s get started!
1. Choose a crypto exchange
As mentioned above, we’ll be using eToro for this guide as they are a widely used exchange and have over 50 cryptocurrencies to choose from. They also have a few really neat features like “Copy Trading”, which enables users to copy the trades of popular investors on the platform.
You can, of course, use any trusted crypto exchange for this, the steps will be very similar for most exchanges.
Let’s get started!
2. Sign up with the trading platform
The first thing to do is to sign up with the platform.
Once you’ve completed the initial sign up process, you’ll have to go through a quick verification process (also known as KYC).
3. Funding your account
Next up is funding your account. When it comes to depositing money to your eToro account, you have the option to use a bank transfer, PayPal, credit/debit card, and more.
4. Buy crypto
Finally, just go to the eToro Markets section, find the cryptocurrency you would like, and buy it.
And that’s it, it’s all pretty straightforward, now you know how to buy bitcoin or most other cryptocurrencies with AMP Bank.
About AMP Bank
AMP is a financial service company that provides financial products in Australia and New Zealand. It offers superannuation, investment products, financial advice and banking products through AMP Banking. This includes home loans and savings accounts. Its headquarters are in Sydney, Australia.
In 1849, the Australian Mutual Provident Society was established as a mutual society and life insurance company. It was demutualized into AMP Limited in 1998 and listed on both the Australian and New Zealand stock markets.
AMP is home to one of Australia's most extensive shareholder lists, with the majority of shareholders living in Australia or New Zealand. All policy holders were given shares in the new company when the society was demutualized.
The company merged its UK operations in 2003 to create the Henderson Group.
Craig Meller, the CEO of AMP, resigned on 20 April 2018 after it was revealed by the Royal Commission into Conduct in the Banking, Superannuation and Financial Services Industry, that AMP had charged clients for financial advice, which was never provided, and that AMP misled the Australian Securities & Investments Commission numerous times. AMP shares lost more than $1 billion after the Royal Commission revealed the company's failures. Meller resigned from AMP as a financial adviser to the Turnbull government in the wake of the revelations about the banking royal commission.
Franceso de Ferrari was appointed Chief Executive Officer by AMP Limited by the AMP board on December 2018. [8] De Ferrari resigned on 25 March 2021. Alexis George, formerly from ANZ, replaced De Ferrari in 2021.
It offers financial planning and advice. It is Australia's largest provider of retail and corporate superannuation and the largest life-risk business in Australia. AMP Capital is one of AMP's subsidiaries. It manages more than A$128 trillion in assets and is therefore one of the most important asset managers in Asia Pacific (excluding Japan).
David Jones was a director of the foundation in 1848. Australian Mutual Provident Society, a mutual society and life-insurance company, was founded in 1849. George King served as chairman for 15 years starting in the 1850s. Richard Teece served as general manager and an actuary starting in 1890, and was a director between 1917 and 1927.
Wellington was the site of the first New Zealand AMP Centre. It was established in 1876. In 1910, AMP was the first company to offer assurance to soldiers. AMP's Auckland office was opened in 1960. AMP Limited was listed on the Australian Securities Exchange as well as the New Zealand Stock Exchange in 1998. AMP Banking was launched in 1999 by the company. The company merged its UK operations and created the Henderson Group in 2003.
Many older AMP buildings in Australia have been heritage listed and include the "Amicus” statue group. The goddess of Peace and Plenty is the central figure in this statue group. She holds a palm branch (signifying Peace) and a cornucopia, which symbolises plenty. To her left, the Labour male figure holds the cornucopia while the woman and child are seated on her right beneath her palm branch. The Latin motto of AMP Society, "Amicus certus re incerta", is found under the statue.
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author Marco Vela
A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.