Bitcoin, Ether, USDC, Algorand, Avax.
Bank Transfer, Credit card.
9.3 / 10
OnJuno offers an FDIC-insured Checking account that allows you to bridge the traditional payments world and cryptocurrency seamlessly. It offers a native crypto experience that is intuitive, easy to use, and lets you manage both sides of your life with one account. The benefits include near-instant deposits and withdrawals from popular crypto wallets and no hidden fees that you might expect from an exchange.
Managing multiple bank accounts and crypto wallets while getting value from all of those assets is no easy task. If you’re a crypto degen in the US, no fintech or crypto app has completely bridged the gap between TradFi and DeFi. This means you probably still have some dollars in your Chase or BOA account earning a measly 0.01% interest (AKA losing 6.99% of your buying power each year to inflation) and tediously moving money between your bank accounts and centralized exchanges whenever the need arises. OnJuno is ending that by providing one financial hub to finally connect all of your financial accounts, allowing you to live a fully crypto-native lifestyle. What that means is that you can receive your salary into your OnJuno account and convert it into crypto
OnJuno offers an FDIC-insured Checking account through Evolve Bank & Trust with up to $250,000 coverage for your USD. That means that the USD sitting in your OnJuno account is insured and provides you the same peace of mind than other traditional US banks. However, if you want to put your money to productive use you can deposit it into the OnJuno savings account and get 4% APY on USDC available to all users with no limit or lock-ins.
The saving accounts are powered by Wyre, a crypto infastrucutre provider with a registeredmoney service business (MSB) license which lends funds to highly-vetted counterparties like DeFi protocol Compound or centralized crypto lending companies. According to Wyre, the company is only working with crypto lenders that have lending licenses, SOC1, and SOC2 audits, and work with licensed crypto custodians.
OnJuno also provides our users with secure access to a crypto wallet that supports all the most popular cryptos and is ever-growing. At the time of writing OnJuno supports BTC, ETH, USDC, AVAX, and ALGO and there are 0 fees for buys & sells.
OnJuno recently added support for Polygon’s USDC, allowing users to directly onramp their dollars into one of the fastest, cheapest and buzzing scaling solutions. Additional support for Avalanche, Algorand, Flow, Stellar, and Solana is planned for the beginning of Q2 2022.
One of OnJuno’s killer features is that it allows you to get your paycheck or gig-payroll directly in your OnJuno account as your favorite crypto or stablecoin. OnJuno has coverage for 500,000 different companies across the US, and employees from Apple, Google, Amazon, and KPMG are already getting paid in crypto through OnJuno. Even streams and gig work from Google AdSense, Twitch, Uber, and Doordash are supported.
This is facilitated by a service called Argyle allowing you to set up a direct deposit using 500+ payroll providers and setting your bank account as the salary recipient. Once OnJuno gets the USD in the bank account (US Law requires full-time pay in Dollars) we then convert instantly to the specified crypto. There is an optional component to send to a preferred wallet partner (Argent, ZenGo, Metamask, Ledger) instead of your OnJuno crypto wallet.
Alternatively, there are a range of other funding methods to top-up your OnJuno account such as ACH bank Transfer, CashApp, Venmo, Domestic Wire Transfers as well as instant debit card deposits for select users.
The OnJuno Metal Debit card allows you to spend USDC and get 5% cashback on select merchants. As crazy as it sounds it is limited to $250 of cashback per year. The only requirement to qualify for the OnJuno Metal card is a Direct Deposit of $250 or more. There’s two options to top-up the card. One is to deposit USDC into your account using a crypto transfer. This works almost instantly and through weekends and public holidays. No need to wait on the banks as blockchains work 24/7. The other option is to load USD into your bank account using any of the traditional payment methods mentioned above like direct deposits or ACH bank transfers.
Otherwise the OnJuno debit card functions exactly like other debit cards. You can withdraw cash for free at over 85,000+ Allpoint® and MoneyPass® ATMs. Outside of these ATM networks, OnJuno covers the fees for up to 3 cash withdrawals for Metal holders and 1 withdrawal for the basic debit card. When travelling abroad and spending in foreign currencies, OnJuno applies the [Mastercard exchange rates](Mastercard exchange rates) without any mark-up.
In the near future, OnJuno is planning to roll out Crypto Cash Back on all spending paid out in over 30 cryptocurrencies…
All in all, we highly recommend OnJuno if you're deep in the crypto ecosystem. Even crypto beginners would enjoy the OnJuno app for its simplicity, attention to detail, and responsive support team. OnJuno is dedicated to building the financial hub that could finally allow us to say goodbye to brick and mortar banks, and they are well on their way.
We are a multi-faceted team of crypto enthusiasts based in Berlin.
© 2021 cryptotesters UG
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