Conventional wisdom has always been that you should be able to deposit your hard-earned money into a traditional savings account and earn a reasonable interest rate. However, the average savings account in the US pays a paltry 0.40% Annual Percentage Yield (APY), according to the FDIC. Fortunately, Juno offers a high-yield checking account plus crypto trading and rewards, all in one platform.
Juno's checking account offers an impressive 2.15% APY, which is significantly higher than the national average. Additionally, the account includes 5% cash-back rewards on up to $500 worth of purchases each year. For those who want to invest in cryptocurrencies, Juno offers the ability to trade Bitcoin, Ethereum, and Litecoin within the app.
Opening an account is easy and can be done entirely through the Juno app. To get started, you'll need to provide your personal information and link an existing bank account. In addition to the high APY and cash-back rewards, Juno offers several other benefits, including no monthly fees, no minimum balance requirements, and free ATM withdrawals at over 55,000 ATMs.
Juno's premium account is free for the first six months, after which a $9.99 monthly fee applies. While this fee may be a turn-off for some, it's important to consider the potential savings and earnings that come with having a high-yield checking account and investing in cryptocurrencies.
For those who are concerned about the safety of their funds, it's worth noting that Juno is FDIC-insured, meaning that deposits are insured up to $250,000 per depositor. This provides peace of mind knowing that your money is safe and secure.
In addition to the high APY and cash-back rewards, Juno offers several other features that make it a compelling platform for savings and investments. For example, Juno recently launched a debit card for Pool Together, allowing users to save and win at the platform while spending winnings to earn rewards.
Another interesting aspect of Juno is its partnership with Zero Hash, a digital asset custodian. This partnership allows Juno to offer its users the ability to invest in cryptocurrencies directly from their checking account. This is a unique feature that sets Juno apart from other high-yield checking accounts.
It's also worth noting that Juno is committed to transparency about its fees and charges no hidden fees. However, it's important to read the fine print and understand all of the fees associated with the account before opening an account.
Finally, it's essential to consider the potential risks associated with investing in cryptocurrencies. While cryptocurrencies can offer significant returns, they are also highly volatile and can lead to significant losses. It's important to do your research and only invest what you can afford to lose.
In conclusion, Juno offers a compelling platform for savings and investments, with its high-yield checking account, cash-back rewards, and ability to invest in cryptocurrencies. While there are some fees associated with the account, the potential savings and earnings may make it worth considering for those looking to maximize their savings and investments.