Bitcoin or Cryptocurrency

I think so, too.

We’re on it! We’ll do our first test trades on the platform soon. :raised_hands:

I use coinfloor - allows you to buy without trading but obviously at a slightly higher price

The fact theat they are uk based allows you to use UK accounts and purchase it in pounds

Already bought, traded and withdrew BTC and BCH with no issues

The fees are minimal

1 Like

The absolute easiest (but not necessarily cheapest) way I found to get a good amount is Solidi. Not the prettiest UI but Quick sign up, and once you make the order you have 30 mins to BACS across so no 3D secure/SEPA needed.

Oh and they just so happened to send me a link, if you sign up and spend £100/200 you (and I) get £2.50/5.00 free.

https://www.solidi.co/register?referer=FBTTGW

Signed up, waiting for the confirmation email which doesn’t look like it’s coming through on Office 365… not a good sign is far unfortunately. :sob:

Coinbase took my CA card and did it’s £1 pre-auth test no problems. I haven’t tried to buy any coins yet but if it passed their test there shouldn’t be a problem.

However, an alternative which I find often gives better prices than Coinbase is the BTC buying service built into Blockchain.info wallets.

I’m afraid that’s not how it works.

Coinbase require 3DSecure / SecureCode on the account in order to buy coins, which we don’t yet support.

2 Likes

So it is, just tried to buy some and it failed. Guess I’ll keep using my Lloyd’s card for now.

Another option is LocalBitcoins, people will take cash, bank transfer, Paypal, and you can shop around for a deal and check feedback.

localbitcoins is a touch cheaper but bittylicious is a great platform i think.

thats a fast rollercoaster ride for bitcoins in the last 4 hours of trading - over 10% swing in a day - good luck :grinning:

jpg-large

2 Likes

This - be very careful, there is a huge amount of pump and dump going on. There are trading bots on the major exchanges manipulating the price.

2 Likes

@anon23935806 its your rollercoaster ride :slight_smile: pay your fare and enjoy the thrills and spills

1 Like

Who’s telling you I’m not in it to do the exact same thing? :joy:

But seriously though it’s money I can afford to loose so I’m happy to gamble - it’s still much better than lottery or actual gambling. :wink:

2 Likes

Fidelity announced a partnership with Coinbase many months ago. Fidelity customers will have visibility of their crypto holdings in Coinbase - this is similar concept to what Monzo is (expected) to be doing with Nutmeg etc. Monzo cannot lag behind a legacy financial services behemoth like Fidelity for too long and still be considered innovative.

Cryptocurrencies are only going to become more ubiquitous and, once solutions are available that enable major retailers to easily/efficiently start accepting crypto payments, we can but speculate about how quickly it becomes mainstream (esp. if there is a discount associated with crypto payments). E.g. 5 years ago people were very cynical about contactless payments. Now the coffee shop beside my office is cashless ,and I rarely feel concerned about not carrying cash (in UK). Things move fast, If Monzo is to be the bank for millennials and generation z, then it needs to be ahead of the curve on cryptourrencies (for when they truly become currencies). Or at least have a plan for potential eventualities.

1 Like

Does this work the other way around? As in, can you deposit Euros from Coinbase into Revolut, exchange them for Sterling then send them to your bank account?

Yes works the other way, although Coinbase not as quick so usually hits my revolut account the day after
Actually Revolut just starting to offer BTC, LTC & ETH in app switching so the process got a lot easier, just switch from £ or whatever in app

That’s cool! I’ll give that a whirl! Thanks for the info :slight_smile:

Looks like they’ve disabled transactions to certain beneficiaries for new accounts while they roll out support for their own crypto exchange.

This would be a brilliant idea - a crypto currency wallet embedded into the monzo app where people could buy a range of crypto currencies (bit coin, ethereum, lite coin etc) directly from their current account and also use the app to buy products using crypto currency. This would make monzo a truly modern banking experience and put monzo in a good position as banks increase acceptance of crypto/block chain technology.

1 Like

Yeah but not the way revolut have done it! You don’t even get a wallet address and you can’t transfer any BTC in or out.

2 Likes

Wow
if you was to enable crypto currency use and spending within the Monzo account, that would be fantastic.
I learnt how to buy my first bitcoin from:
The Bit Badger Website
it’s a pretty basic site but answered all the initial questions i had with some simple videos.