How to Buy Crypto with ASB Bank

Can I Buy Bitcoin with ASB Bank?

Yes, ASB allows its customers to invest in digital assets by linking to regulated cryptocurrency exchanges in New Zealand. While ASB doesn’t directly process crypto transactions, clients can easily deposit funds into approved platforms and purchase tokens like Bitcoin, Ethereum, and Tether. It's important to use exchanges compliant with Financial Markets Authority (FMA) standards to ensure security and regulatory adherence.

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How to Buy Crypto with ASB Bank

ASB customers can access cryptocurrencies through FMA-compliant exchanges. We recommend Bybit for its strong adherence to New Zealand's financial regulations, high security, and wide range of over 1,000 cryptocurrencies. Here's how to get started:

1. Register an Account: Sign up on Bybit and complete identity verification for security.
2. Choose a Payment Method: In the "Buy Crypto" section, select a payment method compatible with ASB Bank.
3. Select NZD: Deposit in NZD and choose the cryptocurrency you want to buy.
4. Complete the Purchase: Enter your investment amount and click "Buy" to finalize your transaction.

ASB Bank Cryptocurrency Policy

ASB adopts a progressive approach towards digital assets, ensuring easy access to the cryptocurrency world for its clients. To achieve this, the bank partners with platforms that conform to the standards of the Financial Markets Authority (FMA). We recommend Bybit as a trustworthy and intuitive exchange that ensures adherence to international laws and regulations. Its security audits and robust KYC/AML procedures make it a suitable choice for Kiwi investors seeking reliable trading experience.

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Digital Asset Investment Fees

Grasping the fees associated with cryptocurrency trading is key to optimising your investment strategy and improving your profitability. Here’s a quick overview of the typical charges you can expect on digital asset exchanges:

• Funding Fees: The cost of depositing money into your trading account can vary based on your selected payment method. Generally, bank transfers are more efficient than faster alternatives like credit or debit cards.
• Transaction Charges: The fees for purchasing or selling digital currencies vary across different exchanges. Bybit offers one of the lowest rates you can find, typically charging around 0.1% per transaction.
• Withdrawal Expenses: The commission for taking out money from the platform usually depends on the specific token. For instance, Bitcoin often incurs a fixed fee of about 0.0005 BTC, regardless of the amount withdrawn.

Bybit is a compelling choice for those with ASB Bank accounts entering the crypto market. Its competitive fee structure and free NZD deposit methods makes it an appealing choice for investors seeking an affordable investing experience.

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What is ASB Bank?

ASB Bank is a leading financial institution in New Zealand, established in 1847. It has grown to become a cornerstone of the country’s banking landscape, offering services that cater to personal, business, and rural customers. Its comprehensive range of products includes savings accounts, home loans, business banking, investment solutions, and more.

As part of the ASB Group, the bank leverages its collective expertise to provide exceptional services through its extensive branch network and digital channels. It takes an innovative approach, consistently seeking to enhance user experience through technology. ASB Bank is also committed to sustainability and community involvement, actively participating in various initiatives aimed at environmental conservation and social well-being.

‍Final Thoughts

In conclusion, ASB supports its clients interest in digital currencies by allowing fund transfers to accredited exchanges. We have identified Bybit as the most suitable platform for its free NZD deposits and a huge selection of over 1000 assets, which can be traded on spot, futures and options markets. Its low fees, coupled with unique features like staking, lending and borrowing services, make it appealing for investors in New Zealand.