Fold App & Card Review – Is Fold Legit & Safe To Use?
As online shopping has become part of our daily lives, it has progressed more and more and upgraded with various services. One of them is cashback in a certain percentage with each purchase. And as the crypto world began to develop more and more, the novelty is that you can get a certain amount in Bitcoins by buying instead of a real cashback. We hope that we have intrigued you with these few words and that we will occupy your attention for the next few minutes.
Through the following text, there will be more details about Fold itself, as well as what it offers, how it works, what are its advantages and disadvantages, etc. So let’s dive into the topic.
What is Fold?
Fold is an application for iOS and Android devices that enables a refund in Bitcoins (in satoshis, actually) during every online purchase of gift cards in the stores they cooperate with. Each purchase is „rewarded“ with a certain percentage of sats on the Fold account, and that percentage usually ranges between 3% and 20%.
Also, in addition to the mobile application, Fold offers a debit card that can be used in everyday life, like any other payment credit card.
As can be seen, Fold offers great opportunities to make everyday life easier for its users, and at the same time, rewarding.
How Does the Fold App Work?
The Fold app is straightforward to use. All you need to do is create an account on the app that can be anonymous without any user information other than an email address; however, to get 5000 satoshis when logging in, you need to create a „real“ account, not anonymous.
It is also necessary to add a payment method – this can be achieved by connecting a Visa card that the user already has or using the Lightning network. The next step is to buy gift cards, and Fold adds satoshis to your account with each purchase.
Remember, the more you buy, the more Bitcoin for you!
Fold App Features & Benefits
As we stated several times in the text, earning BTCs has never been easier. The user who has an account on the Fold app only needs to buy a gift card, and the refund in Bitcoins is added automatically.
Depending on the company from which the purchase was made, the return percentage ranges from 1% to 20%. This is usually between 4% and 8%. Either way, it is unrealistic to expect a profit in the thousands of dollars, but it is possible to get thousands and thousands of sats.
In doing so, you get additional Bitcoin rewards (satoshis) sometimes in terms of extra spins if you invite friends to install the app.
Is Fold App available to United States residents?
The Fold app is currently only available to US residents.
Is Fold App available to EU residents?
Like we just said, the Fold app is currently only available to US residents. But as the crypto world progresses and develops, it has become a question of the moment when it will be available for EU residents as well.
How to Use the Fold Card
Fold has its own debit card in addition to the application. It is a Visa card approved by Sutton Bank in cooperation with Fold Company. In addition to the card, the account number, as well as the routing number, are obtained. It’s like having a checking account.
Pay the desired amount to the Fold card, make a purchase wherever the Visa card is accepted (online or by buying in-person), and a certain amount is returned in BTCs.
Fold Card Features & Benefits
Here are some Fold card benefits and what they include:
- Using Fold prepaid debit card for both online and in-store shopping;
- Earning additional Bitcoin rewards by spinning the rewards wheel;
- Chance to win 1 Bitcoin;
- 3% is the average value of the refund. Still, this percentage can be higher with selected sellers, for example, Amazon, Nike, Domino’s…
- The annual increase in the value of the awards is 10%, so that is more than generous.
- The platform will not disclose your personal information or payment details (everyday spending for instance)
There are 2 types of Fold debit cards. Depending on which user chooses, there are different amounts for fees as well as for prizes they can win.
Fold Card Pricing
The two versions of the Fold Card are the Premium Fold Card and an Intro Fold Card. Each of them has different values and possibilities that it provides during use.
Having an Intro card initially costs $21 per activation, and that’s it – no more costs per year. On the other hand, the Premium card requires $150 per year, with no activation fee being paid.
Also, if there were no transactions in a year – it was inactive, a certain fee is paid every month.
Other fees are also charged, such as delivery for a replacement card, payment at an ATM, or rejection of the same. Each service has its own price, which you can see on Fold’s website.
In many ways, the Fold debit card does not differ from other bank cards of the same type. Still, here is a great chance to make a profit (rewards) on the investment (purchase) that the user certainly wanted to make.
Intro Fold Card Rewards
Every time you use a Fold card to pay (purchase) something, there is a chance of winning additional prizes by spinning the rewards wheel. The prize is always won, it’s just a matter of how lucky you are and you have a chance to get extra spins as well.
We will list some of the benefits offered by the Intro Fold card:
1% refund in sats with each purchase, a chance to win the entire bitcoin, 50 sats with each friend invitation to join, a prize of 100 sats upon registration, savings and deposit matches, 5% bonus on the category of revolving.
Premium Fold Card Rewards
As for the Premium card, as its name suggests, the prizes are also premium. They are higher than the Intro version, and here are some of them:
1000 bonus satoshis that are immediately added upon registration, twice as much saving and deposit matches, chance to win 1 whole bitcoin, 2% cashback on previous purchase and the same amount for each subsequent gift card purchase, 10% boost of category, 100 satoshis for each recommendation to friends.
As you can see, the rewards are not small, and it really doesn’t take much effort to get them. With a bit of luck, you can even get 1 whole Bitcoin, which has a great value today, and it is estimated that it will reach an insanely high price in the future.
Fold Card Requirements
While it may be expected that a lot of personal information is required to obtain a Fold Visa Card, in reality, this is not the case at all. Of course, following USA PATRIOT law, personal data in the form of a name, date of birth, residential address, and others are required. This is all necessary to make your identification when issuing a bank card.
This legal act was mentioned because it is implemented in financial institutions in the United States of America, and currently, the Fold card is only available there.
There is currently a waiting list to receive a Fold Prepaid Debit Card. Users can sign up for it and wait for notification when it becomes available.
How to Fund the Fold Card
Funding a Fund prepaid card is no different than any other bank card you own. All you have to do is transfer the money from the bank account you already have to the Fold card. You can also receive your salary on this card via direct deposit. All it takes is for your employer to have a card’s routing number, which is like having your bank’s current account number and depositing funds directly into your card.
It is very simple and easy to use a Fold Visa prepaid debit card, it is no different from an ordinary payment card except in one, and that is winning prizes with every purchase.
Learn more about crypto debit and credit cards, read the guides below:
- AdvCash Card Review
- Nexo Card Review
- Gemini Card Review
- Bitpay Card Review
- Spectrocoin Card Review
- BlockFi Card ReviewBinance Crypto Debit Card Review
- Blockcard Review
- Crypto.com Card Review
- Coinbase Card Review
Conclusion: Is Fold App Worth It?
We hope that we have managed to answer some questions related to the Fold application and debit card.
Let’s repeat briefly – users of iOS and Android devices have access to the Fold application. Provides the opportunity to earn free sats with each purchase (online or live in the store) of gift cards in certain stores that have entered into an agreement with the Fold company. The percentage of earnings is about 3%, but it all depends on the brand.
On the other hand, Fold also has a debit card that belongs to Visa cards approved by the bank and can be used like any other payment card for payment, and you have the advantage that the more you use it you can win (earn) a significant percentage of sats or even the whole bitcoin, which has no small value nowadays (and the forecasts are that its price will only increase). Other rewards can be yours by turning the rewards point.
So, after all, our answer is a big YES for Fold!
Download, install and see what it offers, it costs nothing, and you can only win.
Make no mistake, you can’t expect to get rich overnight, but with regular use of the Fold app and the card and collecting earnings, you can achieve a fine amount of satoshis without a large investment, almost none.
And remember, the more you buy, the more you earn!
- Earning rewards during purchases - nothings more straightforward than this - with each purchase, you get a cashback in the form of bitcoin (satoshis)
- No login via email or any identification for anonymous profiles is required - the purchase, as well as the transaction, can be made without prior verification
- Rewards are awarded immediately after purchasing gift cards - rewards arrive immediately, there is no need to wait a certain amount of time
- An external credit card, debit card, or even Bitcoin can be used to purchase gift cards
- There is a 'Spin for Sats' option for mobile devices that can be used to win additional sats
- The Fold app has partnered with several available brands and stores where you can make cashback in Bitcoins - for example, Amazon, Starbucks, Nintendo, Domino's, Sephora, etc. The list expands everyday
- Using the Lightning network, the purchase of gift cards is realized without high fees of the network;
- The Fold app is available for both Android and iOS users.
- The Fold is currently only available to US residents - given that the crypto world is advancing very fast, the assumption is that Fold will soon be available to EU citizens as well as other parts of the world
- Buying a gift card with a fixed amount of money - the user can not choose how much money he would spend on the purchase, that amount is predetermined
- Tuesday evenings (ET) is the time when requests for Bitcoin withdrawals are processed - is the time when requests for bitcoin withdrawals are processed.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com