Currently available in the United States; coming soon in 31 countries in Europe.

Users Can Now Buy Bitcoin Directly From Their Blockcard Bank Accounts

  • September 21, 2020

A new feature has been added to Blockcard’s recently released Bank accounts: users can now buy Bitcoin (BTC) and Ternio (TERN) directly with USD from their Blockcard dashboard. The Blockcard bank account provides users a full service on and off-ramp to move in and out of cryptocurrency as needed, and pairs perfectly with top cryptocurrency exchanges. The FDIC insured Blockcard Bank Accounts are the latest addition to Ternio’s suite of crypto-friendly banking products, and the ability to buy crypto gives users another layer of utility on the platform. 

Users can now instantly purchase BTC or TERN directly from their Blockcard Bank Accounts with USD. As a result of Blockcard’s focus on building crypto friendly products, there is no waiting time for transactions to process as the asset price is locked in and funds are deducted immediately. The platform has been designed to evaluate a variety of top exchange order books to lock in the best price, and users can direct those funds into the wallet of their choice. 

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“We always wanted to see an exchange feature on the Blockcard platform, and the new bank accounts are the perfect outlet to see that dream realized. And we’ve consolidated the process so that everything – from basic deposits and transfers, adding funds to a Blockcard for immediate spending power, even buying Bitcoin directly from a Blockcard bank account – can be done from the Blockcard dashboard. Our focus has always been to bring cryptocurrency and blockchain to the mainstream, and the bank account on-ramp is a key component of that.” Ian Kane, Ternio Co-Founder and COO

By partnering with a US based bank, Ternio was able to launch this new product while still offering the same security that US users expect, with the option to purchase crypto without requiring ACH or wire transfers. Like a traditional checking account, user funds are kept in USD and can be deposited and withdrawn easily, with the added benefit of acting as an on-ramp for crypto. As the product line expands, the accounts will open up to international users, and will pair seamlessly with the release of a global Blockcard debit card. 

The Blockcard Bank Account is a perfect companion to the Blockcard debit card. The Blockcard functions as a true debit card, allowing for both deposits and withdrawals, to give crypto real world utility. Combining that functionality with the Blockcard bank accounts, users can move easily from fiat to crypto and back, with the added benefit of never having to worry about their crypto transactions being flagged as risky. Soon, users will be able to access their accounts through a mobile app and have the option of using a Blockcard custodialized wallet.