Ternio Blockcard Review

The first thing that jumps out to people when they hear about the Ternio Blockcard is the 6.38% cashback rewards that are made available to the card users on all purchases. This is much better than pretty much any normal credit card on the market, let alone the various cards made available to crypto users. Of course, if something sounds too good to be true, it likely is too good to be true. Like other cards that offer high rewards for their users, such as the Crypto.com Visa card and the Swipe Visa card, the Ternio Blockcard’s rewards program relies on getting users to buy and stake a proprietary token that could end up leaving the cardholder with a net loss over the duration of their use of the card.

Ternio Blockcard

Ternio Blockcard

Ternio Blockcard

  • Impressive cashback rewards
  • Excellent referral program
  • Accepts a variety of different cryptocurrency including BTC, BAT, ETH and more
  • FDIC insured checking account for BlockCard customers

Ternio Blockcard Pros & Cons

The Benefits PRO's
  • There’s a potential for up to 6.38% cashback rewards
  • It’s a Visa card
  • Rewards increase as the card is used for more spending
  • Earn bonus TERN by referring your friends
The Downside CON's
  • TERN must be staked in order to gain access to the best cashback rewards tiers
  • Cashback rewards are paid in TERN
  • Funds deposited to Blockcard are converted to TERN
  • Monthly fee if the card is not used for at least $750 in purchases
  • There are a lot of fees associated with this card

Ternio Blockcard at a Glance

Card type: Visa
Cost: $10 or $50 depending on the card chosen, Staking requirements also involved
Funding methods: Various cryptocurrencies
Cryptocurrencies supported: BAT, BTC, BCH, DAI, ETH, LTC, PAX, XLM, TERN, USDT, TUSD, USDC, and XRP
Rewards: Cashback rewards
Cryptoback percentage: 1-6% and additional rewards associated with spending with the card every month
Physical card: Yes
ATM Fees: $3.00 for cash withdrawal
Proprietary token: TERN
Issuing bank: Metropolitan Commercial Bank

What is the Ternio Blockcard?

The Ternio Blockcard is a crypto debit card built around the TERN token. Most of the functionality around the card is focused on adding utility to TERN. For example, users must stake TERN in order to receive the best possible rewards via a Ternio Blockcard. Additionally, those cashback rewards are paid in TERN. It should be noted that this sort of close relationship between a crypto debit card and its proprietary token is usually a red flag.

What are the Benefits of the Ternio Blockcard?

The key benefits of the Ternio Blockcard are the cashback rewards associated with the various cards that they’ve made available. These rewards can range from 1-6% depending on the card chosen, and there are additional awards available to users who make heavy use of the card on a monthly basis. The card also creates a way for users of thirteen different digital assets to turn those assets into spendable cash in the real world.

However, these benefits are mostly enabled by the requirements related to the TERN token and how it is used with the Ternio Blockcard. The fact that users must be willing to stake a small crypto token like TERN in order to gain access to the rewards creates the very real possibility that all of these benefits and rewards will be more than offset by a drop in the TERN token’s USD-denominated trading price.

Potential Ternio Blockcard Dealbreakers

Like many other cards we’ve reviewed that have high, enticing cashback rewards, the dealbreaker with the Ternio Blockcard is the close relationship the crypto debit card has with the TERN token. Users must be willing to stake TERN tokens if they wish to gain access to the largest cashback rewards, and the future price of TERN is highly speculative. Small cap crypto tokens have been known to drop by 90% or more against the US dollar in the past, so agreeing to stake TERN in exchange for cashback rewards on a debit card is a highly-risky decision. Additionally, the staking process for TERN and the Ternio Blockcard works on a 30-day basis, means you won’t be able to exit the TERN market right away if you decide you want to opt out of the system. If the TERN Market starts crashing, you’ll have to keep watching the value of your TERN tokens falls until the end of the month.

It should also be noted that you can’t actually store the cryptocurrencies supported by Ternio in your account balance. Instead, all of your crypto tokens must be converted to TERN before they can be used as the basis of the various charges you make to your Ternio Blockcard.

Is the Ternio Blockcard Right for Me?

Unless you believe in the underlying value of TERN, you may want to avoid the Ternio Blockcard. Like some of the other crypto debit card options that are attached to proprietary tokens, the relationship between the Ternio Blockcard and the TERN appears to be built on shaky ground. Anyone who decides to get this card due to the high cashback rewards that are available with it needs to understand the risks they are taking by agreeing to stake TERN tokens for 30-day periods of time. Some people will undoubtedly get lucky and profit through the Ternio Blockcard system, but there is legitimate risk in the endeavor.

Ternio Blockcard Frequently Asked Questions

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