Personal finance app Money Dashboard has launched an integration with Coinbase to help consumers see their cryptocurrency holdings alongside their day to day banking accounts.
Users can connect their Coinbase accounts to Money Dashboard, allowing them to see the value of their cryptocurrency holdings in real time along with how much they’re spending and saving in other traditional accounts.
Money Dashboard connects to over 60 financial institutions, including challenger banks Monzo and Starling to help keep track of spending and track financial goals. Adding Crypto is part of an ongoing roadmap to connect a users full financial portfolio so they can get a holistic view of their finances.
Whilst recent research from the FCA found that 73% of UK consumers don’t know what a cryptocurrency is or are unable to define it, those most aware of them are those aged between 20 and 44. And, three-quarters of British millennials would rather put their money in shares, bonds or bitcoin rather than property. This indicates a generational divide in attitudes to different asset classes, with more than half of the millennials surveyed said investing in property in the next five years was “high risk”.
Steve Tigar, the Money Dashboard CEO, said, “Despite the well documented volatility in the cryptocurrency market, the demand for various crypto assets remains strong with more than 3 million people in the UK having now bought crypto. It’s a fascinating market trend and one that is indicative of a broader shake-up in retail banking globally. We’re delighted to be launching this integration with Coinbase that will allow our users to get a consolidated view of how their crypto assets are performing in real time.”
Tim Shields, Money Dashboard CTO added:
“With over £13M collectively deposited by Money Dashboard users in Coinbase since 2017 it was a no-brainer to create that connection for our loyal users as soon as possible. I have cryptocurrency accounts too so am very excited to see them on my Money Dashboard account!”