How to Buy Crypto with Bendigo Bank
Author: Marco Vela - Fact-checked ✓
Summary: While Bendigo Bank doesn’t offer crypto trading on its own platform, you can easily use your account to buy crypto using a third-party cryptocurrency 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, Bendigo Bank doesn’t offer cryptocurrency trading directly, as setting up a crypto exchange is quite complex and comes with regulations and extra requirements for the banks.
There are many crypto trading platforms that you can use for buying bitcoin and other cryptocurrencies.
Once signed up to an exchange (we’ll be using eToro for our example as it’s a widely trusted and global exchange), you can simply transfer funds from your bank account to the exchange, and trade it for crypto.
Table of Contents
How to buy crypto or bitcoin with Bendigo Bank
There are only 4 steps involved, let’s get started!
1. Choose a cryptocurrency trading platform
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 cryptocurrency
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 Bendigo Bank.
About Bendigo Bank
Australian financial institution Bendigo and Adelaide Bank specializes in retail banking. In November 2007, the company was created by the merger between Adelaide Bank and Bendigo Bank.
Bendigo Bank's products and services were delivered through nearly 900 locations Australia-wide before the merger. These included more than 160 branches owned by the company, 220 Community Bank branches owned by Bendigo Bank, 100 agencies, and 400 Elders outlets. The majority of branches are located in Victoria and Queensland. The bank has more than 400 branches now, 25 of which were created by the merger with Adelaide Bank.
The city of Bendigo is still the national headquarters. There's also a major office located in Adelaide, South Australia, and regional offices in Docklands and Melbourne.
The company was established in 1858 as a building society for Bendigo's goldfields.
Seven years old, in 1865 the company was restructured and renamed Bendigo Mutual Permanent Land and Building Society. Victoria incorporation followed 11 years later. It continued to grow its holdings until 1978 when it merged with Eaglehawk Star, an 1901-founded building society.
The acquisitions of Sandhurst and Sunraysia building societies in 1983 and 1985 led to further growth. In 1985, Sandhurst Trustees Ltd merged with Sandhurst Trustees Ltd., while Capital and Compass were acquired.
BBS was the first Australian financial institution to offer both Visa credit cards and debit cards.
BBS was listed on the stockmarket in 1993. The company's growth continued into the 1990s, when it purchased National Mortgage Market Corporation Limited (a mortgage-manager company that focuses on loan brokers and introducers) in 1995. BBS became a bank under the name Bendigo Bank in 1997. In 1997, Bendigo Bank acquired Monte Paschi Australia from Banca Monte dei Paschi di Siena, an Italian banking group, for AU$42.255M. In the same year, Monte Paschi Australia was renamed Cassa Commerciale Australia.
Bendigo Bank's "Community Bank” program was launched in 1998. The first branches were opened in Minyip, Rupanyup and West Victoria on 26 June. On 19 October, the first metropolitan branch was opened in Upwey's outer eastern suburb.
In the late 1990s, Elders Australia and Bendigo Bank formed Elders Rural Bank. This joint venture focused on rural Australia and agribusiness. Bendigo Bank was also first to offer a mortgage offset account. It is now a standard product in Australia.
The bank established an alliance with IOOF in 1999.
In 2000, the bank was granted its operating license and absorbed First Australian Building Society in Queensland. It also acquired a new regional headquarters at Ipswich. The bank also expanded its Bendigo head office by A$75million in the same year.
Bendigo Bank launched the first "Green Loans", in Australia, in 2002. They also formed "Community Sector Banking", which is a joint venture between the banking sector and the not-for profit sector.
Three years later, Bendigo Bank established a regional headquarters at Harbour Esplanade, Melbourne, Docklands.
The merger/takeover proposal by Bank of Queensland was rejected by Bendigo Bank in 2007. In 2007, Adelaide Bank merged with Bendigo Bank. On 30 November, the A$4Billion takeover was complete. [4] The shareholders then voted to change the name of the company to Bendigo and Adelaide Bank Limited. This change took effect on 31 March 2008.
The new headquarters of Bendigo Bank was opened in Bendigo on 11 December 2008. Kevin Rudd, Australia's 26th Prime Minister, attended the opening.
Bendigo Bank announced on 16 December 2011 that it had reached an agreement with Bank of Cyprus Group in order to acquire Bank of Cyprus Australia Limited (BOCAL), its 100% owned Australian subsidiary. The total purchase price was A$130 million.
It was renamed Delphi Bank.
Bendigo Bank's Oxford Funding subsidiary was rebranded into Bendigo Debtor Finance in April 2013. This new brand offers independent credit assessments and cash flow solutions for businesses at a national level.
The bank was the first to adopt an anti-fossil fuel investment policy in Australia in June 2014. The bank doesn't lend to companies whose core activity is exploration, mining, manufacturing, export, or production of thermal coal or coke seam gas.
Bendigo Bank supported funding and building a mosque in Bendigo during 2014-2015. A number of locals organized protests and met with far-right groups like the Q Society and United Patriots Front. The Stop the Mosque group's account was closed by the Bendigo bank. According to the bank chairman, history had shown Bendigo as an inclusive community. He believes that this is the kind of place that is needed again. Bigotry and hatred are not Bendigo's values. After closing the account in April 2014, Bendigo Bank declared that it would only do business with organizations that share its values of inclusion and tolerance, which are essential components of a strong community.
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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.