Australian Banks Now Allowing People to Buy Bitcoin

[Zrs]

It is awesome new for bitcoin users.If all bank accept bitcoin,it will be easy and trust worthy for bitcoin buyers.We do believe that one day all government accept bitcoin as bitcoin has a huge market value.

[ngavanngo22]

Good to hear that . After Japan legalized Bitcoin I think Australian realized the advantages of Bitcoin so they also accept it as well. This will be a big move for Bitcoin and all other cryptocurrency. I think in next month or maybe in the end of this month we will be hear more good news about Bitcoin accepted in more country all over the world .  

[wiro212]

Interesting news .. such likes a progress we are expected. one by one financial institution that is expected to include its cryptocurrency services within one of their services. just waiting for another good news from some countries that are constantly seriously reviewing them policy in applying bitcoin as a payment instrument which recognized in their country.

[imoet]

As the title said,
Some of the important Banks in Australia is allowing their customer to purchase cryptocurrency using their Bank account. Because of this, bitcoin can now be easily purchased in Australia.
Reference Link: https://usethebitcoin.com/australian-bank-allow-customers-purchase-cryptocurrencies/

I think this will be the start, hopefully, other banks around the world will follow so we will have a convenient way to buy and selling cryptocurrency to fiat.

It is a good news 
We hope other countries will do the same. If so many banks already accept bitcoin, it means bitcoin will become more powerful in this world. Everyone will be expecting this news will occur in their country. It will be so many advantages for us as the user.

[Baofeng]

As the title said,
Some of the important Banks in Australia is allowing their customer to purchase cryptocurrency using their Bank account. Because of this, bitcoin can now be easily purchased in Australia.
Reference Link: https://usethebitcoin.com/australian-bank-allow-customers-purchase-cryptocurrencies/

I think this will be the start, hopefully, other banks around the world will follow so we will have a convenient way to buy and selling cryptocurrency to fiat.

It didn't surprised me at all because Australia is the second country (July 2017) to legalized crypto after Japan. So it really make sense to them to be very lax, including banks and taxes. As for other banks, following their footsteps, I have doubt because we all know that bankers see crypto's as a threat. What we wanted to see more is nations following the footstep of Japan and Australia in embracing bitcoin.

[batang_bitcoin]

And this is what I've been waiting for since last year as there is a rumor before that Australia will legalize bitcoin. So what they will allow to do is you can transfer your bank account balance to an exchange, right?

What about AML??? They should protect system from money laundering. Freedom of cryptocurrencies can be very harmful. It creates not only economical freedom for ordinary people, but also for dirty politics, crime, human traffic, drugs and terrorism.

If you'll read the article, at the latter part it says this.

“To reduce the risk for our customers, and to help protect their money, some card transactions may not be processed,” commented NAB. “We take the protection of our customers’ information and accounts extremely seriously.”

Source: https://usethebitcoin.com/australian-bank-allow-customers-purchase-cryptocurrencies/

And so they are aware of those things.

[OninLoki]

Interesting news and I hope other countries start to study this and patient Australia and Japan foot print in Bitcoin, Kudos. On this it means that bitcoin will become more stable and powerfull cryptocurrency. hekhek 

[benalexis12]

This is great news to our community. Imagine all people in Cryptospace will be more successful. Just wait for a month or a year and get's what we want. Taxes are normal for any exchanges because governments wants to get profitable and wants to help the economy.

[colvis]

that is very incredible and a wise choice to make.... they will never live to regret their action.... how i wish that my own country will do thesame.   

[criz2fer]

As the title said,
Some of the important Banks in Australia is allowing their customer to purchase cryptocurrency using their Bank account. Because of this, bitcoin can now be easily purchased in Australia.
Reference Link: https://usethebitcoin.com/australian-bank-allow-customers-purchase-cryptocurrencies/

I think this will be the start, hopefully, other banks around the world will follow so we will have a convenient way to buy and selling cryptocurrency to fiat.

Talking about non-news

ANZ and Westpac, two of the most important banks in Australia are opened to cryptocurrencies. They announced that they will allow customers to freely purchase bitcoin and other digital currencies or accepting them as a form of payment. What the bank will keep doing is protecting customers against potential fraud and other possible scams.

An ANZ spokesperson has explained that they do not provide support or banking services to unregulated businesses like cryptocurrency exchanges or issuers. Westpac has also taken a similar stance with regards to its customers. They will allow them to buy cryptocurrencies with credit cards, but they did not comment on whether the bank was thinking about a prohibitive policy.

They will let you transfer funds to an exchange via your bank account.

Or let me put it this way:
"They will allow you to use your money how you want!!!".
Indeed, a milestone! /s

Like visa debit cards and credit cards, they can directly transfer money like forex trading & binary options tradings. Banks can have a higher fee for the transfer of money to exchangers which they can profit also. This is a good news because. Hope the FUD will be lessen with this positive media feedbacks.

[NavI_027]

“To reduce the risk for our customers, and to help protect their money, some card transactions may not be processed,” commented NAB. “We take the protection of our customers’ information and accounts extremely seriously.”

I love their reason for allowing their countrymen to buy cryptocurrency from them, they want to give a trustworthy service, a service which makes them feel secured. The relationship between those banks and its customers is like a mutualism — both of them are benefited by each other, customers are worry-free knowing that their money is secured and the banks are able to earn in return. What a great news for all the Australian's, Congrats!

[Vz Ketua]

This is one of the good news for the development of bitcoin in the world. Hopefully in the future many countries recognize the existence of bitcoin so bitcoin can exist without anyone considering the bitcoin is negative.

[Viscera]

Great News once banks allow people to buy bitcoin the price will increase i hope that here in my COUNTRY they will allow people to buy and sell bitcoin on different banks. hope it applies to other countries which i believe the 2nd mass adoption is here again.

[Sevarchik]

One green among the reds news. Australia going strong with crypto, its not first good news from Australia

[darksanya]

we need some time until government understand that it's easier to legalize cryptocurrencies than trying to introduce restrictive measures. hope in 2019 we will easily buy crypto through banks

[wiro212]

we need some time until government understand that it's easier to legalize cryptocurrencies than trying to introduce restrictive measures. hope in 2019 we will easily buy crypto through banks

oh well... Bank only offers personal and commercial banking services including savings accounts, certificates of deposits, checking accounts, loans, credit cards, point of sales and other financial services.In most countries central banks are responsible for the oversight of the commercial banking system of their respective countries. They will impose a number of conditions on the banks that they regulate such as keeping bank reserves and to maintain minimum capital requirements. I think bank wont stop you to buy btc in exchange as well. But buy crypto through bank is a different respective of bank policy, i think because the bank will keep doing protecting customers against potential fraud and other possible scams.

[MisterPrada]

Don't know if there's an official source for this news but anecdotally, this happened to me.

I transferred to BTC Markets on 23/12, received the funds back in my NAB account today 28/12 with no explanation.

Thank you banks, for reminding me why I like crypto in the first place!

[dvbcrypto]

This is good news, but at present btc prices are hard to rise, but this is a positive move of some countries on crypto. Thanks for news!!!!

[captin crunch]

So good, hope others will also make the same decisions.

[JeanTracy]

Yes, that's good news for bitcoin, where Australian bankers accept the value of bitcoin, and in the future, more countries will support it.