Fun

US Bank Quontic Launches Bitcoin Rewards Checking Account With Debit Card

News Feed - 2020-12-17 02:12:32

US Bank Quontic Launches Bitcoin Rewards Checking Account With Debit Card


Quontic Bank is launching a bitcoin rewards checking account with a debit card. Customers can earn 1.5% back in bitcoin on their debit card purchases. “Bitcoin is gaining massive momentum both as a digital currency, an asset class, and as a store of wealth,” the CEO of the bank said. Bitcoin Rewards Checking Account


Quontic digital bank announced on Tuesday the launch of its “bitcoin rewards checking account.” The announcement states: Quontic is the first FDIC-insured financial institution in the U.S. to go live with a bitcoin rewards debit card. Quontic customers can earn 1.5% in bitcoin on eligible debit card purchases.


“Quontic’s bitcoin rewards checking program offers consumers a debit card, mobile app, access to over 90,000 surcharge-free ATMs, Applepay, Googlepay, Samsungpay, Zelle peer-to-peer payments, and more – all with no monthly service fee,” the announcement continues.


The bank has partnered with NYDIG, that company that recently helped Massmutual insurance giant buy $100 million worth of BTC. NYDIG provides Quontic with a secure custody platform to manage bitcoin rewards.


The bank’s website explains that its Bitcoin Reward Checking account is a non-interest bearing personal checking account. A minimum of $500 is required to open the account but it does not have a minimum daily balance requirement to earn bitcoin rewards. The website further clarifies that the balances of bitcoin rewards or the cryptocurrencies in customers’ NYDIG accounts are not subject to FDIC or SIPC protections.



“Bitcoin is gaining massive momentum both as a digital currency, an asset class, and as a store of wealth,” Quontic CEO Steven Schnall commented, elaborating: This is of particular importance today given that the federal government printed an additional $3T in money in 2020 in response to Covid-19 and the accompanying risk of inflation and dollar devaluation.


In addition, Quontic has partnered with NYSE-listed Fidelity National Information Services Inc. (FIS) to build a mobile app with “bitcoin rewards tracking, reporting and functionality which is set to launch in Q2 of 2021.”


Interested customers can sign up to be added to the waitlist for the bitcoin rewards checking account on the Quontic website now. However, the program will only be available to a limited number of people initially, and only to residents of Alabama, Arkansas, California, Maryland, Massachusetts, Missouri, Montana, New York, Pennsylvania, Utah, Wisconsin, and Wyoming. The bank plans to increase the availability of the program in the coming months.


What do you think about Quontic Bank’s bitcoin rewards checking account? Let us know in the comments section below. CME Group to Launch Ethereum Futures in February Pending Regulatory Approval FINANCE | 2 hours ago Italian Insurance Giant Generali Gets Into Bitcoin via Banking Arm, Launching Crypto Custody Service FINANCE | 22 hours ago Tags in this story bitcoin bank account, bitcoin rewards checking account, bitcoin rewards debit card, fdic-insured bitcoin, Quontic, Quontic bank, Quontic bitcoin, Quontic btc, Quontic crypto, Quontic cryptocurrency


Image Credits: Shutterstock, Pixabay, Wiki Commons, Quontic Use Bitcoin and Bitcoin Cash to play online casino games here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Memes are creating a ‘Cambrian explosion’ of crypto onboarding: Base creator
Martin Young3 hours agoMemes are creating a ‘Cambrian explosion’ of crypto onboarding: Base creatorMemes on Base have helped to onboard thousands of people to the layer-2 network and will be key for the next million,
Crypto Exchange Binance Plans to Be Regulated Financial Institution, Seeks CEO With Strong Compliance Background
Crypto Exchange Binance Plans to Be Regulated Financial Institution, Seeks CEO With Strong Compliance Background Binance CEO Changpeng Zhao (CZ) says that his co
Impossible to Run Away From Cryptocurrencies Says Zimbabwe Finance Minister
Impossible to Run Away From Cryptocurrencies Says Zimbabwe Finance Minister Zimbabwe’s increasingly pro-crypto finance minister, Mthuli Ncube, recently told his colleagues i
Tesla CEO Elon Musk Warns a Major Fed Rate Hike Risks Deflation
Tesla CEO Elon Musk Warns a Major Fed Rate Hike Risks Deflation Tesla CEO Elon Musk has warned that a major rate hike by the Federal Reserve risks deflation in the U.S. economy. Mu
Omni Network seals $600M deal with Ether.Fi
Zoltan Vardai9 hours agoOmni Network seals $600M deal with Ether.FiThe $600 million worth of Ether will be restaked on EigenLayer.1284 Total views6 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCo
Moviecoin․com to Transform Movie Financing on Blockchain
Moviecoin․com to Transform Movie Financing on Blockchain press release PRESS RELEASE. London, England,January 10, 2022:Moviecoin.com brings movie funding and decentralized finance
Polygon DeFi Yield Farming on AscendEX
Polygon DeFi Yield Farming on AscendEX press release PRESS RELEASE. AscendEX, a leading cryptocurrency trading platform, is excited to celebrate Polygon (Curve) Y
UK Outlines Plans to Support Crypto Adoption, Create More Powers to Seize and Recover Digital Assets
UK Outlines Plans to Support Crypto Adoption, Create More Powers to Seize and Recover Digital Assets Delivering the Queen’s Speech, Prince Charles outlines the British gover
Alleged Hydra Administrator Dmitry Pavlov Reportedly Arrested In Russia
Alleged Hydra Administrator Dmitry Pavlov Reportedly Arrested In Russia A district court in Moscow has arrested a man whom local media reports identify as Dmitry Pavlov, alleged ad
Gareth Jenkinson17 minutes agoCrypto cards facilitated $3B payment volume since 2021 exchange deals — Visa execVisa’s CEMEA head of innovation and design, Akshay Chopra, reveals that the company’s partnerships with
US stablecoin bill to ‘cement’ dollar dominance, fight sanction evasion
Andrew Singer10 hours agoUS stablecoin bill to ‘cement’ dollar dominance, fight sanction evasionThe Lummis-Gillibrand Payment Stablecoin Act is a step in the right direction, but enactment in an election year may be
MTI Mastermind Arrest: Lawyer Points to Agreement Relating to Johann Steynberg’s Extradition to South Africa
MTI Mastermind Arrest: Lawyer Points to Agreement Relating to Johann Steynberg"s Extradition to South Africa With Johann Steynberg now in custody in Brazil, a lawyer has suggested