I recently talked about how a prize-linked saving account, Yotta, pays you for making your direct deposits with them. In this article, let’s talk about how Juno, a crypto-focused fintech banking app, pays you for making direct deposits with them. I have previously reviewed Juno, written a cautionary post regarding their own cryptocurrency, then written “another look at Juno“. Through it all I have maintained that their debit card is practically free cash [1] [2] [3].
But this article is mainly about using Juno for direct deposit so let’s get a few things out of the way. Should you choose to do this, recognize that Juno also serves crypto products, so you must maintain the high security of your account (see this post for detail). Since Juno is a fintech product, it might also be good to read the “Maybe don’t keep your money in fintech companies” post.
So, how does it all work? Juno has a cryptocurrency of their own called JCOIN. Juno rewards its users with JCOIN for various activities, including direct deposit. You can then use JCOIN for various things in Juno Store such as (a) boosting your cashback limit (b) earning more JCOIN on debit card spend (c) gift cards. Alternatively, you can also sell it in the open market for other cryptocurrencies, say stablecoin.
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https://onjuno.onelink.me/TkoI/referral?code=AB93U7TX
You can redeem JCOIN for various gift cards, including Amazon. You have to unlock the first gift card before unlocking the next one (for example, if you look at the first figure below, I need to buy a $10 gift card before I can buy the $15 gift card).
As mentioned before you can also boost your earning. For instance, you can currently boost JCOIN you earn on debit spend to 3x for a week by spending some JCOIN on the booster. Alternatively, you can also increase your cashback limit (typically $300/year) by $5-$15. There is a limit on how many boosts you can do. See the screenshots below for details.
Finally, as I mentioned, you can also sell JCOIN in the open market but fees can be notorious (in the screenshot below the future of finance wants me to pay $5.13 for a $7.83 transaction lol). You can also think about buying JCOIN in the open market if you can make more from them by selling it in Juno Store.
Closing Thoughts
Not bad.
Please consider using the $25 referral link to signup
https://onjuno.onelink.me/TkoI/referral?code=AB93U7TX
