Monzo Bank is one of the UK's most popular online banking platforms, boasting millions of customers across the country.

This guide will help Monzo Bank account holders find the best way to buy Bitcoin and other cryptocurrencies directly from their Personal or Business online accounts.

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Can I buy Bitcoin with Monzo Bank?

Monzo Bank does not offer any services on their online banking platform for their customers to buy or sell Bitcoin, Ethereum and other digital assets. This means you cannot sign into your Monzo Online or Monzo App account to buy crypto with GBP directly from your account.

The only way to buy Crypto is by signing up to a regulated digital currency exchange in the UK that supports Monzo Bank GBP deposits.

Best way to buy Crypto with a Monzo Account

The best way to buy Cryptocurrency with a Monzo account is with the eToro UK exchange. They are a licensed platform by UK regulators that allows you to deposit GBP from Monzo to trade Cryptocurrencies, Stocks, Bonds, Commodities and other asset classes.

You can get started by following the guide below:

Step 1: Sign up to the eToro UK trading platform.

Step 2: Provide your personal or company identity details to verify your account and be compliant with relevant UK regulations.

Step 3: Select the 'Deposit Funds' button on the bottom of your screen.

Buying Crypto Monzo

Step 4: Select 'GBP' and 'Bank Transfer' as your payment method. Once you click the next button, you will be given deposit details to send GBP from your Monzo Bank account.

Monzo Bank Transfer Bitcoin

Monzo Bank Crypto Policy

Monzo does not have any banking policies that prohibit their customers from engaging with the digital asset ecosystem. The only relevant rule is that users must be depositing GBP into regulated & licensed cryptocurrency exchanges in the United Kingdom.

If you are caught depositing and withdrawing from unlicensed off-shore exchanges, the bank may freeze your account. This is why we recommend platforms like eToro to get started.

eToro UK
May 11, 2022
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