Summary: In order to buy cryptocurrencies like Bitcoin and Ethereum, you have to deposit funds from your Monzo Bank account to a regulated cryptocurrency exchange like eToro. This platform is regulated by FCA in the United Kingdom which makes it safe to use. It's also beginner friendly, super easy to get started with and offers 1,000s of digital assets. The signup process takes a few minutes so that you can begin investing in cryptocurrencies today!
+3000 Cryptos, Stocks, ETFs
0% Fees on Stocks & ETFs
30M Users & 140 Countries
Regulated & Safe Platform
You can not buy Bitcoin and other cryptocurrencies directly from Monzo as they do not offer any cryptocurrency products. What you can do however is deposit funds via your Monzo account to a third-party cryptocurrency exchange and buy through them.
To buy cryptocurrencies like Bitcoin and Ethereum with Monzo, customers must first connect their bank account or card to a regulated exchange like eToro.
USD, EUR and GBP bank deposits are free of charge and funds usually arrive within one business day.
eToro is super easy to user for beginners and offers a wide range of assets, making it easy for Monzo customers to invest in the crypto market.
This include cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Cosmos (ATOM) and many others!
1. Create Account: Signup and add your identity verification.
2. Deposit Funds: Via your Monzo account or credit/debit card.
3. Start Buying: Once your deposit has reached your account.
Binance has at the time of writing not regulatory approval to operate on the UK market. That is why it's best to use FCA-regulated exchanges like eToro in the United Kingdom. This way you will ensure that fiat deposits and withdrawals will be done without any issues.
Monzo is a crypto friendly bank that permits its customers to buy and sell cryptocurrencies via third party exchanges.
Customers can connect their Monzo account (or link their debit card) to deposits funds to cryptocurrency exchanges like FCA regulated like eToro.
Monzo Bank is crypto friendly and doesn’t have any policies that forbids its customers from using regulated cryptocurrency exchanges.
Monzo customers can thus deposit and withdraw funds via ACH or Card Transfer to FCA regulated cryptocurrency exchanges. Monzo has also clarified this on their website,
As a Monzo customer you can use a range of cryptocurrency exchanges to buy crypto, as part of your personal banking with us. Like all regulated banks, from time to time we may block a small number of transactions based on risk. This applies to all transactions, not just ones involving cryptocurrencies.
Customers of Monzo can deposit funds to regulated exchanges with their credit/debit cards. Monzo does not impose any limitations in this regard.
Monzo Bank is a UK based mobile banking app that was founded in 2015. The bank originally operated through a mobile app and a prepaid debit card and does not operate any branch network.
While Monzo is regulated in the UK, their accounts are provided through their collaboration with Ohio based Sutton Bank. Customer deposits are protected by the Federal Deposit Insurance Corporation (FDIC) insurance for up to $250 000 dollars.
Monzo bank has almost 6 million customers that take advantage of the smart hub app to manage their financial life.
Monzo has created a savings account with no overdraft fees for people to optimize budget and to manage payments and subscriptions. They have a quite modern way of operating as can be seen by their public product roadmap.
+3000 Cryptos, Stocks, ETFs
0% Fees on Stocks & ETFs
30M Users & 140 Countries
Regulated & Safe Platform
