Bitcoin
BTC
$
00000.00
-0.00%
Ethereum
ETH
$
00000.00
-0.00%
Solana
SOL
$
00000.00
-0.00%
XRP
XRP
$
00000.00
-0.00%
Dogecoin
DOGE
$
00000.00
-0.00%
ChainLink
LINK
$
00000.00
-0.00%
Binance Coin
BNB
$
00000.00
-0.00%
Cardano
ADA
$
00000.00
-0.00%
Litecoin
LTC
$
00000.00
-0.00%
Ordinals
ORDI
$
00000.00
-0.00%
Polygon
MATIC
$
00000.00
-0.00%
Optimism
OP
$
00000.00
-0.00%
Arbitrum
ARB
$
00000.00
-0.00%
Polkadot
DOT
$
00000.00
-0.00%
Avalanche
AVAX
$
00000.00
-0.00%
Sui
SUI
$
00000.00
-0.00%
Ethereum Classic
ETC
$
00000.00
-0.00%
FileCoin
FIL
$
00000.00
-0.00%
Celestia 
TIA
$
00000.00
-0.00%
Injective
INJ
$
00000.00
-0.00%

Key Takeaway

Monese Bank adheres strictly to UK financial guidelines by allowing transfers to approved exchanges, ensuring client transactions are secure. This focus on safety and dependability demonstrates the bank's commitment to providing ethical banking solutions.

For clients interested in expanding their investment horizons, eToro is a noteworthy platform. It offers a broad selection of over 4,500 cryptocurrencies, stocks, ETFs, and commodities with low fees. eToro also has innovative features like social trading networks and demo accounts.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro United Kingdom
eToro United Kingdom

This review and rating adhere to our editorial policy and the the research methodology of StacksOnChain analysts, guaranteeing the accuracy and reliability of our reports.

Rating
9.8

Supported Assets

4,500 Cryptocurrencies, Stocks, ETFs and more.

Trading Fees

0% Fees and Variable Spread (1%).

Can I Invest in Crypto with Monese Bank?

Monese Bank does not offer direct cryptocurrency trading within its suite of banking services. Nevertheless, customers have the flexibility to transfer funds to registered exchanges, ensuring their investments remain within a secure framework.

It's crucial for Monese's users to recognise that its digital banking solutions, including its online platform and mobile app, do not feature built-in crypto wallets. For managing digital assets, utilising British exchanges is advised to ensure adherence to financial regulations.

How to Buy Crypto with Monese Bank

Monese Bank does not offer direct cryptocurrency trading facilities but allows for fund transfers to platforms registered with the Financial Conduct Authority (FCA), ensuring secure transactions. eToro is known for adhering to these guidelines within the UK, facilitating safe deposits in GBP through bank transfers, the Faster Payments Service, and debit cards.

  1. To start trading cryptocurrencies on eToro, first verify your identity to create your account. 
  2. Navigate to 'Deposit Funds,' choose an appropriate payment method, and initiate a transfer from Monese Bank. 
  3. Use the search tool to locate the desired cryptocurrency and click 'Trade.' 
  4. Specify the investment amount and finalise by clicking 'Open Trade.'
How to Buy Crypto with Monese Bank

Does Monese Bank Block Crypto Transactions?

Monese Bank facilitates transfers to digital currency platforms that are registered with the FCA, enabling customers to explore the realm of cryptocurrencies. This reflects the bank's adaptability in incorporating new financial technologies into its offerings.

Customers are advised to interact exclusively with platforms that comply with the UK's stringent KYC and AML regulations under the supervision of the Financial Conduct Authority (FCA). This advice underscores Monese's commitment to maintaining the security and integrity of financial transactions in the dynamic domain of digital currencies.

Digital Asset Investing Fees

Entering the digital currency market means understanding the trading fees on platforms like eToro, which is essential for their operation. Let's delve into eToro's fee structure:

  • Funding Charges: When funding your eToro account, you may face some fees. For example, converting currencies like GBP to eToro's base incurs a fee of between 1.5% and 3%, but USD deposits are free.
  • Withdrawal Costs: Withdrawing fiat from eToro costs a flat $5 fee, which helps cover transaction expenses. Crypto withdrawal fees can fluctuate, reflecting the blockchain's current state.
  • Transaction Fees: Trading on eToro attracts a 1% fee along with a spread, the difference between asset buy and sell prices, varying by cryptocurrency.

eToro's tiered membership could be appealing to frequent traders or substantial investors, offering reduced fees and a personal account manager.

‍Closing Thoughts

In conclusion, Monese Bank's alignment with UK financial regulations and its partnership with platforms like eToro provide a secure gateway for clients interested in the crypto world. By not offering direct crypto trading but facilitating safe transfers to registered exchanges, Monese ensures that its users can explore digital assets within a trusted framework. 

Author

Nick Ng is a skilled analyst at StacksOnChain with expertise in both cryptocurrencies and traditional finance. His research offer valuable insights into market trends and investment opportunities for readers.

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