Please !!! 
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Great answer, and amazing books!!! Transport you to some great locations during a lockdown! 
Monzo aren’t going to advertise it, in the same way that they don’t advertise you can withdraw cash from your account and purchase cocaine.
It’s pretty clear if you follow the company and it’s executives that Monzo are somewhat dubious about crypto’s place in the world long term. But it’s also clear from @Dan5 ‘s very helpful posts, that it’s fine to use your Monzo account for personal crypto use.
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I have heard of crypto but quite frankly think that you have had a good response from a member of monzo staff and should move on.
There are also various responses from Monzo’s Twitter account on whether or not Monzo can be used to transact with crypto exchanges. Here are a few
The last tweet links to a Monzo blog post on sign up process and KYC written by the head of financial crime at the time. Here are some relevant excerpts…
We therefore consider KYC to be an ongoing process, that begins when you sign up for a Monzo account and continues throughout the course of our relationship. By taking this approach, we can make it as easy as possible for you to get started, and get to know you over time instead.
Because we take this continuous approach to KYC, at some point we might reach out to ask you a few questions or for some extra information.
Similarly, we know a lot of our customers are interested in new technologies like cryptocurrencies, and a few have been using their Monzo accounts to trade them. We want to make sure people can keep doing so in a fair and legal way, so as part of our KYC process, we might ask you for more information about how you’re using cryptocurrencies with your Monzo account. If you aren’t able to give us a reasonable response to our questions, we unfortunately may have to ask you to stop using your account in this way.
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lol are you really trying to put cocaine and bitcoin in the same boat.
I mean that’s completely irrelevant. It’s strawman, like saying well they wouldn’t add that the Nazis were bad to the Ts&C’s.
Once the cash is withdrawn you can do whatever with it (legal or illegal) so would be impossible to list all the uses.
As I’ve already mentioned above other banks have a clear stance either way. Adding that personal crypto trading is fine to Ts&C’s doesn’t mean anything other than clarifying their position.
And if people want to trade bitcoin and then take the profits and buy a ton of blow then that’s their choice. 
I haven’t found that clear at all that monzo executives are dubious about crypto, have you got any links?
My perception of monzo being anti-crypto has come about from reading forums (Inc this one) not from what execs feel.
I know there are banks who have explicitly stated transactions with crypto exchanges are not allowed (e.g. HSBC). I suppose if you have decided no transactions are allowed, that’s an easy thing to communicate.
But which banks have been clearer than Monzo in communicating they are allowed? What avenues did they use to communicate this? This seems harder because the communication could never be 100% of all transactions will be allowed.
Really, it’s just one example of a general reality, whether defamation, criminal law, or AML rules.
People acting within the rules WILL occasionally fall foul of the same rules, because no system is perfect. Just as you can go down for murder without killing anyone, your account can get locked for perfectly legitimate crypto use, if it’s misinterpreted.
Banks have to operate within that degree of uncertainty, so they’re never going to give you anything close to black and white guidance.
You’ll only get certainty your account won’t be locked for crypto by not using it for crypto. Whether with Monzo or anyone else. End of
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Electricity should be and will be fully clear, only mater of time untill 100% of energy will be from atom
Really appreciate you taking the time to post all this info Dan, however I’ve got one question - If I exit all of my money from crypto right now and it’s x50 (hypothetically speaking of course) the value I deposited over the course of 4 years now… would that cause my account to be closed?
Having read about people getting their accounts closed from trading it confuses me where the line is drawn.
Simply investing in some cryptocurrencies and holding over the course of a few years can lead to a decent return, making use of DeFi or blockchain games, even more so.
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A crypto future would be bad for a myriad of reasons. The biggest is perhaps currency fluctuations, today your salary is £2000; but tomorrow it could be £4000 or £400
I agree with what you’ve said, getting paid in a “currency” which is deflationary just encourages you to hold and save it instead, that’s why USD stablecoins are better cryptocurrencies to be paid in especially for those who are living in a country suffering from hyperinflation e.g. Argentina / Venezuela
Their own currency is pretty much worthless, so working to get paid in USD stablecoins means they escape the economy created by the failure of their governments.
You might ask why don’t they just get paid directly in USD to their bank accounts, well it’s not that simple because the USD was banned by Venezuela and the Argentina government restricted access to foreign currencies.
Of course if those people got paid in a deflationary cryptocurrency like ETH or Bitcoin, they’d be sitting on much more money today.
Little more reading on how Bitcoin and other cryptocurrencies helped Venezuelans if you’re interested.
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Crypto market is on the rise this year 
So I invested a few hundred £££. Sent it from my Monzo to CoinBase and BitPanda.
Surely, it will gain a profit this year (if sold at the right time) 
After that, I’ll be glad to cash out some back to my Monzo.
Hopefully, Monzo won’t go ‘‘funny’’ about it when the cash-out time will come (mid/end 2021) 
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Hopefully it rockets to the moon: What crypto did you invest in?
I invested some in XRP, XLM, ZRX, VET, TRON, ADA, Doge, DGB
VET looks very promising for me 
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Got some magic beans here, if you’re interested…
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They’ll all crash
Yes, they will, at the end of ‘‘bull run’’ cycle 
Still, after that they gain ‘‘new bottom’’ as new lowest price is far bigger than it was before. So in time they just growing in value 
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What about the doge it shot up then dropped more than 60% and hasn’t gone back up
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And who are you offering it to? 
Magic beans would go in car-boot sale 
, but not as a top item 
Anyone who thinks spending £40K on screenshot seems like a good deal. Boy am I looking forward to episodes of Watchdog a few years from now.
“I spent my life savings on a screenshot of a cat, but now someone has deleted it/stolen it”
Still, marginally better than “I’ve got £175m worth of bitcoin on a hard drive, but I forgot my password”.
Man has two guesses to unlock bitcoin worth $240m - BBC News
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