Cash is dying out at a very fast rate. Whilst you’ll always get a few stubborn people that get attached to physical coins we have already seen a massive increase of cashless to the point shops are no longer taking cash.
Turning fully cashless is stage 1, if you can pay digitally doesn’t matter if that’s via Mastercard/Visa/Amex or crypto.
There will be that tipping point in future where it becomes the normal, and you can give your employer a wallet address instead of account/sort.
Cash is not dying out.
I’m not sure where you’re reading/getting your info from but you seem to be very far into the future when we are just not there yet.
It absolutely does matter if you’re using a fiat currency or crypto. One is stable, the other swings widely in value because it’s not attached to anything real backing it.
The big problem at the moment is that bitcoin is not being used or traded like a currency, it is a commodity. That’s a large bar to clear before widespread adoption can be reached. I feel sorry for people who used bitcoin to pay for their pizzas back in the day, those have ended up being the most expensive takeaways they’ve ever paid for.
Cash is dying out, rapidly. We won’t be using coins and paper by 2030. Not sure why you think it’s not?
@HoldenCarver it’s not volatile because of not being backed. Fiat isn’t backed by anything real either. That’s why the government can just print more. It’s only everyone agreeing on the value that gives it value. If everyone agrees that X coins is = y then that becomes accepted. The more people involved then the more stability.
Paper and digital is the same.
Using it less doesn’t equal dying out. Of course we’ll still be using it in 10 years, to think otherwise is madness!
What are your thoughts on cheques? They’ve been “dying out” for 20 years.
There will always be at least one person using a payment method up until it’s banned.
Same way we’ll have cheques either until they aren’t valid or the generation who used them dies.
I personally haven’t seen a cheque written in public since the millennium. I’ve received about four in the past two decades.
I would say cheques are dying, almost dead.
I’m not saying 100% in 2030 will be cashless that would be insane to state that but I would be confident in saying 95% plus.
As in out of 100 transactions, 95 are cashless and 5 in coins/paper.
As of 2021 ~seven/eight out of ten are cashless. That ~20% still doing transactions with cash will drop to just 5% in nine years easily. Another fifty years (2080) to get rid of that remaining 5%.
I think that’s pretty clear cut, are you only investing your personal money? Then you’re okay.
If it looks like you’re “trading” then it’s not okay 
The reason we won’t and don’t go into more detail about what those boundaries and rules are is because if we did then it would allow people to circumvent our rules which are in place to protect our customers (& ourselves) against financial crime.
I have one friend who had a significant amount of Bitcoin holdings, nobody else I know even dabbles in it and certainly wouldn’t consider paying with it down the shops.
It’s by the very definition still niche!
Trading and investing are synonyms just different timescales.
You could put personal money in, get lucky and want to cash out a week after. Or you could put it in for a few years and take it back out.
For our purposes there is ‘personal’ use of Bitcoin, and ‘trading’ of Bitcoin. Those are our definitions
But that’s personal to you, you need to look at the average person overall. Otherwise you might know only one person and think hardly anyone holds crypto, I know 100 people etc
What I’m saying is compared to where it was five years ago it’s no longer the techie geek that’s holding them. It’s the general public. It’s your nextdoor neighbor, it’s the postie etc
It’s not near widespread adoption yet but it’s going that way fast.
What was the definitions? What defines investing over trading?
Are we just talking about length of time after transferring out of Monzo before returning profits back?
Yes it is, it’s not your average person.
What’s the difference between somebody buying tomatoes for personal use and somebody trading in tomatoes?
I would say 1 in 4 people in London isn’t anywhere near mass adoption; if that’s the highest adoption rate in the U.K. then overall it’s tiny.
How does that relate to trading/investing?
If I buy trade Bitcoin, I buy £1000, swing trade a bullish run and sell the next week. To me that’s trading.
If I buy £1000, and leave it there for a couple years that investing.
Regardless of either scenario all Monzo sees is £1000 going out the account to Binance.
- No. of active daily bitcoin wallets has reached an average of 1 million.
Only 1 million? That seems pretty niche still.
I haven’t said mass adoption, I’m saying it’s not niche. 25% isn’t niche.
Are you investing your own money? No problem.
Are you investing for other people too? Then we might have a problem.
As I said above, we don’t provide any detail because people would exploit that. We see a lot of fraud cases involving in Bitcoin and to reveal what our risk appetite is would enable people to manipulate that. So we don’t reveal it 
What I’m saying is the general public are holding crypto. If you went into Sainsbury’s and interviewed 100 random people you might find 15+ hold crypto.
What I’m saying it’s not the case anymore where it’s just one techie person and the other 99 have never heard of bitcoin.