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Monzo Crypto Guide: Buy Bitcoin and Ethereum Safely

Learn how to buy crypto with Monzo Bank in 2026, fund eToro with GBP, avoid common transfer issues, and buy Bitcoin or Ethereum safely.

Monzo Crypto Guide: Buy Bitcoin and Ethereum Safely
Eric Nkando
By Eric Nkando, senior writer · 5 min read · Updated
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!How to Buy Bitcoin Using a Monzo Account

  • Monzo posted £1.7 billion in revenue for the year to March 2026, and is up 39 percent.
  • UK crypto ownership actually fell to 8 percent of adults in the FCA’s most recent research, down from 12 percent the year before.
  • Monzo still doesn’t offer crypto trading directly, and buying crypto still means transferring GBP to an outside exchange like eToro.

Monzo just posted the strongest results in its history. Revenue hit £1.7 billion for the year to March 2026, up 39 percent, with statutory pre-tax profit of £87.3 million and 15.2 million customers after adding 3 million in a single year, its biggest jump yet.

The bank exited the US in April, secured an EU banking licence, and is now working with Morgan Stanley on a possible London listing valued somewhere between £6 billion and £10 billion, though new CEO Diana Layfield has said she’s in no hurry to set a date.

None of that touches crypto directly. Monzo still has no trading feature of its own, and the path for customers wanting to buy Bitcoin or Ethereum runs exactly where it always has, through an outside exchange.

A Correction on UK Crypto Ownership

An earlier version of this guide cited a February 2022 FCA survey showing 2.3 million UK adults owned crypto, with ownership expected to keep climbing. The FCA’s more recent research, published in December 2025, found the opposite trend: ownership actually fell to 8 percent of UK adults, down from 12 percent the year before, even as the amounts held by remaining investors grew. Bitcoin remains the most held asset, followed by Ethereum.

Can You Buy Crypto With Monzo Bank?

!Monzo ban gross and adjusted profit before tax

Not directly. Monzo doesn’t offer in-house crypto trading but it permits transfers to regulated exchanges. Whether a specific transfer goes through depends on Monzo’s own risk screening, which can occasionally flag crypto-related payments.

Step-by-Step Guide to Buy Crypto with Monzo Bank

Sign up for an eToro account.

Register on eToro’s site and provide your personal details.

Verify your identity.

Upload a passport or driving licence along with proof of address. Verification typically takes one to two days.

Deposit GBP into eToro.

Select GBP as your currency and choose bank transfer or debit card linked to your Monzo account. It’s worth comparing current sign-up offers across exchanges before funding an account for the first time.

Buy your cryptocurrency.

Choose an asset you want to buy, enter an amount, and confirm.

!Best performing crypto coins on the market

Monzo’s Stance on Crypto

Monzo doesn’t offer crypto trading itself but permits transfers to regulated UK exchanges as part of its standard risk management approach. It occasionally blocks individual crypto related transactions it flags as higher risk, a policy that hasn’t shifted even as the bank’s overall business has scaled dramatically this year.

If Monzo Declines Your Crypto Purchase

A block on one transaction isn’t necessarily permanent. Opening an account with a more crypto-accommodating bank, such as Revolut or Starling, can serve as a backup route. Alternative GBP transfer methods like Faster Payments or a debit card deposit sometimes clear where a standard bank transfer doesn’t, and spreading a large purchase across smaller transfers can help avoid the risk flags that trigger a block in the first place.

Conclusion

Monzo’s growth this year is a story about the bank’s own business, not about crypto access for its customers. That still depends on an outside exchange, and eToro remains a straightforward, FCA-regulated option for turning a Monzo balance into an actual purchase.

Alternatives

Frequently asked questions

Can You Buy Crypto With Monzo Bank?
Not directly. Monzo doesn’t offer in-house crypto trading but it permits transfers to regulated exchanges. Whether a specific transfer goes through depends on Monzo’s own risk screening, which can occasionally flag crypto-related payments. Register on eToro’s site and provide your personal details. Verify your identity. Upload a passport or driving licence along with proof of address. Verification typically takes one to two days. Deposit GBP into eToro. Select GBP as your currency and choose bank transfer or debit card linked to your Monzo account. It’s worth comparing current sign-up offers across exchanges before funding an account for the first time. Buy your cryptocurrency. Choose an asset you want to buy, enter an amount, and confirm.
Does Monzo allow crypto purchases directly?
No. Monzo doesn’t. You need to use a third-party exchange like eToro and transfer GBP from your Monzo account.
Is Monzo going public?
It’s preparing for a possible London Stock Exchange listing, working with Morgan Stanley, though no date has been confirmed. Reports suggest a target valuation between £6 billion and £10 billion.
Why does Monzo sometimes block crypto transfers?
Monzo applies risk screening to transactions it considers higher risk, which can occasionally include crypto-related payments, regardless of whether the receiving exchange is properly regulated.
Is UK crypto ownership actually growing?
No. Not according to the FCA’s most recent data, which shows ownership among UK adults fell to 8 percent down from 12 percent the year before. Sources Monzo: 2026 Annual Report; IG: Monzo IPO 2026, valuation, timeline and how to buy shares How to Buy S&P 500 with Revolut; The Easy Way to Bridge to Cronos [From Ethereum, Polygon & BSC](/crypto-guides/bridge-to-cronos/)