Fold offers a unique bitcoin rewards card that gives you cashback in bitcoin with every purchase. The prepaid card works in conjunction with an app to offer variable rewards.
It includes a spinning reward wheel where you can win anything from a 1% spending boost to 1 BTC. Read on to find out more about fold debit card benefits.
Earn Satoshis on Every Purchase
The Fold app and card give users the opportunity to earn Bitcoin rewards by spinning a virtual wheel every time they make a purchase. Each spin awards a number of ‘sats’ which is the smallest denomination of a Bitcoin, or a fraction of one. Rewards range from a few sats to a whole Bitcoin (which has no small value today and forecasts suggest is only going up in price).
The more you use the app, the higher your chances of earning extra sats. Users also earn extra sats by referring friends.
Unlike cashback apps, Fold offers more than just Bitcoin cash back. It also gives you the ability to earn Bitcoin through a debit card, merchant deals and gamification features. It is a unique approach to bringing people into the crypto space without requiring them to learn about wallets or risk their private keys. The fold card allows you to withdraw your earned Bitcoin at no cost in any wallet.
Spin the Wheel to Win Satoshis
Fold is an app that rewards users with a percentage of their purchases in Bitcoin (in satoshis) each time they buy gift cards using the app. They also offer a Visa debit card that earns Bitcoin rewards (in satoshis) every time they use it.
The Fold card offers two plans: Spin (free) and Spin+ ($150/year). Both cards offer the same base rates but the premium card tier gets you extra spins per week, better odds at Bitcoin, and boosted rewards.
One interesting aspect of the Fold card is that it earns in the form of Satoshis – the denomination of Bitcoin (0.00000001 BTC). This means that if Bitcoin goes up, so will your rewards. This makes it a great way to take advantage of price fluctuations in the cryptocurrency markets.
Spend at Merchants That Accept Satoshis
The Fold app and card are a unique way to earn crypto rewards on everyday spending. The app gives you a chance to spin a post-purchase wheel after every purchase that meets a minimum of $3. This can result in a bonus sats back or even Bitcoin. The wheel is updated daily and prizes change often.
The app will notify you if it is time to spin the wheel. You can also check the bank of extra spins you have available, which expire after 7 days.
The app does have some gamification features that make it fun to use, but the numbers don’t seem to add up to much (as of this writing). It is a cool concept though and may prove useful for those who enjoy trying new things.
Access Satoshis in Your Wallet
With Fold, users can earn a flat % back on their purchases, spin the Wheel for Sats, or receive additional satoshis in their wallet from friends. Aside from the card itself, Fold also offers a number of other ways to earn rewards such as an in-app game and a referral program that awards new users with free sats.
Users can use their Fold app to make payments at any of the partnered merchants and earn rewards in satoshis (the smallest denomination of Bitcoin) on each purchase. They can also access the virtual Wheel for Sats on the app to win Bitcoin rewards, ranging from a few satoshis to thousands of satoshis.
In addition to the debit card, Fold offers a mobile wallet and the ability to sign up for the Premium Wheel, which includes higher odds of winning Bitcoin, at no extra cost beyond the $150 annual fee. However, the card is only available in the United States and there is a waitlist.