Hi Monzo team,
I would really like to see an integrated Bitcoin wallet in Monzo, allowing me to move funds into and out of BTC easily (like using my Investec savings pots). I and many others are using Bitcoin as a long term store of value / hedge.
Do you have any plans in considering this in your roadmap, perhaps this year ?!?
Thanks,
Iād prefer to just be able to see my Coinbase account in Monzo.
Donāt see what value Monzo would be able to add by offering a crypto wallet.
Hereās a good example of something I wish we could downvote.
If Monzo spend any time developing any bitcoin functionality in the next year or so, then itās time NOT spent developing things that will benefit the vast majority of people who donāt use bitcoin.
Thatās your opinion, which is one of many.
I would like to see a Bank embracing all type of currency and provide ease-of-use functionality
(i.e. if you are traveling to pay with a wallet that holds Bitcoin or any AltCoins (EOS,Ripple or Etherum)
Yup. My opinion.
If the majority of the 2million users of Monzo want this then sure. But Iāve no idea how many would want it, and I donāt think bitcoin is mainstream enough usage wise to warrant any work. Again, my opinion.
If you want bitcoin why dont u use revolut
Nothing wrong with your opinion. However I disagree as i think there is a need and cryptoās like Bitcoin/Litecoin are becoming more mainstream.
I just think for a Bank like Monzo (who does not own any Branches) and everything is done virtually. It would make sense for them to invest or at least explore the avenue of crypto currency and see what functionality they could offer to their customer on their platform who do own crypto currency.
Monzo already provides faster payment method to Coinbase.com - which is good.
However I would like to have the benefit of storing some of my Bitcoins on a wallet with Monzo and be able to do payments from it.
Recently alot of fraud has been happening with crypto currency so i dont think its something they will do
Why? What is the cost of this versus the expected revenue generation? What is the benefit to Monzo, 1,000 new users, 10,000?
Not saying it shouldnāt ever happen, just that right now I donāt see the upside for Monzo. Investing time and effort in something that few people would use (no I donāt have numbers for this eitherā¦)
Anyway, good luck to you.
One of the biggest bitcoin ācelebritiesā (and if you believe his alias, holders) is a Monzo product manger. Iād have thought if he and the company could see a fit then theyād work on it.
Personally I think it probably is too early, with other means to buy, but I do expect that one day it will be unavoidableā¦!
Providing some intergration so that individuals can gain exposure to other assets from within monzo is a great idea
if you could allocate weath within the savings pot this would make sense
There are apps out their already that do this, so providing this in one app would be a great innovation
thatās a good point. Even if crypto is an important part component to consider to stay updated with trends and new technologies.
Ppl are getting into crypto more than ever and not only for trading. itās a way to to send or receive money anyway.
Honestly, I think that Monzo should avoid BTC and focus on ETH or ADA since they are more evolved and less speculated. BTC doesnāt have any function, ppl just hold and sell to make money. Another token to consider would be TUSD (where the price is always about $1).
Anyway, Monzo should implement sometimes keep and transfer crypto. Also because Revolut did it and itās one of the main competition. Def, itās way to offer an innovative and update product to the customers. Since they declared them self as better than regular banks.
Revolut isnāt a bank so theyāre not a direct competitor for Monzo. As a result they can bend the rules a little more to do things like this.
This topic is over 2 years old too. Since then banks have been tightening up and moving more to restrict most crypto activity. They donāt like it. Itās not painting a picture that crypto + banks is the future.
True, the post is 2y old but crypto are still here and thatās why banks donāt like it. Also true, Revolut is not a direct competitor with Monzo so, prob not the best example.
However, I still believe that Monzo should implement a crypto wallet or a third-party integration (like they do with other banks).
Last, the problem with the banks are Bitcoins.
As I said, ETH and even better ADA are trying to became more transparent by giving the user to possibly to share information with authorities if they want.
Honestly, holding BTC is like gambling. Ppl donāt really care about the reason why crypto are important, they only see the value of the token going up.
The fact this post is so ancient coupled with zero development of anything to do with bitcoins etc etc, just shows that Monzo arenāt interested in it one bitā¦ Time to move on to a provider that is happy to utilise it, if anyone is that way inclined.
You never know but banks just donāt seem to want anything to do with crypto. It seems like it is more hassle than it is worth for them.
It would just send conflicting messages if they allowed you to view your wallets but then not use your account to buy and sell too.
Be sure to vote at the top of this topic if you havenāt already though!
Cool to see that some would be interested to have such functionality.
I still believe Monzo should have at least a soft wallet or third party integration allowing you to store any crypto currency (BTC/ETH/ADA/ etc) giving you as a customer options and flexibility to diversify ones portfolio.
At the moment there is a crack down on the big crypto exchanges (Coinbase/Binance/Kraken) from regulators but thatās because its threating their Monopoly.
If users everywhere would to store their money / cryptos on a private ledger - Banks will cease to exist.
Hence why countryās are starting to look into creating their digital currency -
Its just a matter of time when we will do the switch to the digital currency age - then Banks like (HSBC/Barclays etc) will be not needed as everything will be done via a Central Bank (i.e. Bank of England)
Unless those Banks start to offer something to customer to keep them otherwise they will leave - most customer have diversified their savings either in investments (stocks, property, ISA, cryptos) as saving accounts with the bank are not much worth these days with the low interests.
A matter of a very, very, very, very, very (did I say very?) long time.
Becoming cashless will be the next step, but that too is a very, very long time away. Too many generations rely on this or are complete technophobes to be able adopt or understand crypto.
Try again in 10 years maybe. Especially since the plans for our country to even discuss this are on hold indefinitely.
yeah agree, it will take some time to get there and I think you are not far off with your estimate 10-15years unless something drastic will happen.
Coinbase going for the protection angle for up to Ā£150K:
"Weāre introducing a new pilot for UK customers: The Coinbase Account Guarantee. Should someone gain unauthorised access to your Coinbase account and misappropriate funds, you may now be eligible for a reimbursement. Please note the eligibility criteria at the bottom of this email.
As the only cryptocurrency exchange offering UK customers reimbursements of up to Ā£150,000, weāre proud to protect your funds."
Thankfully, Iām within this level of protection 