Quontic Bitcoin Rewards Debit Mastercard®
Get into Crypto and diversify with free Bitcoin checking account
Updated: Dec 03, 2022
The Quontic Bitcoin debit card lets users earn reward points in Bitcoin on all eligible debit card purchases. It's available to US citizens who open a free Bitcoin Rewards Checking account at Quontic Bank. Eligible applicants must live in one of the approved states to open a Bitcoin account because of different state laws and regulations regarding cryptocurrencies.
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- Earn 1.5% Bitcoin Rewards on debit card purchases
- No monthly or maintenance fees
- No overdraft or non-sufficient fund fees
- Access to 90,000+ ATMs nationwide, fee-free
- All credit accepted: Bad, Good, Poor, Fair, Excellent
- Minimum opening deposit of $500 is required
- FDIC insured and secured
- Crypto enthusiasts looking to earn Bitcoin;
- Crypto beginners interested in earning Bitcoin on everyday debit card purchases;
- People who want to earn redeemable Bitcoin rewards just by swiping a debit card.
Quontic Bitcoin Debit Card Advantages
As a Quontic Bitcoin cardholder, you can expect the following benefits.
Earning Bitcoin rewards on eligible debit card purchases
Every time you swipe your debit card at brick-and-mortar and online retail stores, you can earn Bitcoin rewards. It works just like earning cash back on eligible purchases, except you earn Bitcoin reward points. As long as you make a qualifying debit card purchase, you can earn a specific percentage of your transaction back in Bitcoin. How much you earn depends on the US dollar’s current value. If you use PayPal, Venmo, or any other third-party payment account to make a purchase, that debit card transaction won’t count toward earning Bitcoin rewards.
Redeeming Bitcoin reward points for cash
One of the best features of this debit card is helping you earn redeemable Bitcoin. You don’t have to connect it to any crypto wallet to exchange earned Bitcoin for US dollars or any other fiat currency. Simply redeem all your reward points for cash. You can redeem them for cash once a month, for which you’ll have to pay a service fee.
Quick sign-up process
Opening a bank account to get your Bitcoin card doesn’t take longer than several minutes. All you need to do is click or tap the “Apply Now” button, and provide your name, email address, and phone number. The Quontic bank will send a verification code to your mobile phone, which you can use to sign in and submit your application.
No monthly maintenance fees
Using this debit card doesn’t incur any monthly maintenance fees. After providing the initial deposit by linking to another account and making an ACH transfer, you won’t have to pay for anything (except a service fee for redeeming Bitcoin). Just make sure you use the card regularly and check for insufficient funds before making a transaction to avoid potential overdraft fees.
Access to a massive fee-free ATM network
The bank offering this Bitcoin card has an extensive global ATM network that all of its customers can use for free. As its cardholder, you have access to over 90,000 surcharge-free ATMs where you can make seamless withdrawals.
Are There Any Disadvantages?
Getting this Bitcoin debit card comes with certain drawbacks, although they may not be a deal-breaker for you.
No possibility to earn other cryptocurrencies
This card supports only Bitcoin rewards, so don’t expect to earn other cryptocurrencies on qualifying everyday debit card purchases. However, since we’re talking about an innovative bank that offers groundbreaking banking options, we might see it expand its crypto offers in the future.
Cash deposits are available at only one ATM
This digital bank has only one branch, so you can’t make cash deposits anywhere else. There’s an ATM inside the NYC-based branch that accepts cash deposits, which is great if you live in New York City. Otherwise, you can deposit funds into your account only via ACH transfers.
What Makes Quontic Bitcoin Card Different
This is the first card of its kind, as no other FDIC-insured bank offers a debit card that comes with Bitcoin rewards. The bank has partnered with NYDIG (New York Digital Investment Group LLC), a leading tech and financial services company that offers management, custody, and execution services for digital assets. It provides a custody platform for Bitcoin, which means you need an NYDIG account to gain access to Bitcoin reward services. Keep in mind that NYDIG and the FDIC won’t insure Bitcoin in your account.
Additionally, the bank has partnered with FIS. This global fintech leader helped develop a dedicated mobile app for helping Bitcoin cardholders track their rewards, receive reports, and enjoy other functionalities. Once you open your account and receive a Bitcoin debit card, you’ll get access to that mobile app that lets you manage your funds on the go. You can use your card with digital wallets seamlessly, as it’s compatible with Apple Pay, Google Pay, Samsung Pay, and Zelle P2P (peer-to-peer) payments.
Getting a Quontic Bitcoin debit card is an excellent way to start your crypto journey without actually buying cryptocurrency. You can earn Bitcoin rewards on eligible everyday purchases and seize an opportunity to build wealth, as Bitcoin can appreciate over time.
Quontic Bitcoin Card Competition and Alternatives
- BlockFi Bitcoin Rewards Visa – get 3.5% back in Bitcoin during your first 3 months and pay no international transaction fees
- Coinbase Visa Debit Card – get $5 in bitcoins and use up to 80 different cryptocurrencies with a card
- Upgrade Bitcoin Rewards Visa – get a $200 bonus and 1.5% unlimited cash back in bitcoin
- Wirex Debit Card – earn crypto rewards for in-store and online spending
Frequently Asked Questions
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Quontic Bitcoin Rewards Debit Mastercard® Alternatives
Quontic Bitcoin Rewards Debit Mastercard®
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Additional Information & Comments
Eligible States: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. Quontic Bank will be adding additional states in the future.