The Fold app is a beloved platform among bitcoiners for earning bitcoin passively through everyday purchases and activities. Rather than accumulating travel points or earning fiat cash back on your purchases, you can take advantage of Fold’s full suite of products to earn bitcoin back and create brand new sat stacking streams.
What Is The Fold App?
Fold is a Bitcoin rewards platform that lets you stack bitcoin back for your everyday purchases. It’s a free app that you can install on your mobile device that comes with a slew of extra features that make sat stacking seamless.
Fold’s core products are its:
- Mobile application: The Fold app is the primary hub for funding your account, buying bitcoin, spending on gift cards, earning sats back, referring friends, and more.
- Debit card: The Fold card unlocks even greater benefits that you may end up ditching your previous card entirely for. Use it to spend on everyday purchases, or even pay off your bills!
Three Ways To Earn Free Sats with Fold
Fold offers several ways to earn free sats, making it easy to start accumulating bitcoin without any initial investment.
1. Daily Spin
Every day, with just a free basic plan, you can spin a wheel in the Fold app to win free sats, gift cards, and other prizes. Without having to spend any money at all, simply opening up your Fold app each day gives you the potential to stack anywhere from 5-2,500 sats.
If you upgrade to the free Spin plan, and make purchases with your Fold debit card (which we’ll get into why you might want it), you can spin an upgraded wheel with higher payout potential, up to 1,000,000 sats.
And if you join Fold’s paid Spin+ plan for $10/month or $100/yr, every purchase you make pays you back in higher percentages, or even a full bitcoin if you’re incredibly lucky.
You can expect to earn back a similar rate in sats back that you would earn with a typical cash back credit card, but with the added bonus of outsized payout potential. When you consider the potential of bitcoin’s long-term future, and how easy it is to make a few taps within the app daily, suddenly Fold’s product looks a lot more attractive.
With consistent daily spins, you can easily collect tens of thousands of sats each year, not including any of the other ways you can use Fold to earn sats. Those small amounts could add up to a meaningful payout in the long run as hyperbitcoinization unfolds.
2. Referral Program
Fold’s Referral Program is another great way to earn free sats. You can share your referral link to invite friends to join Fold, and you’ll earn 10,000 sats and earn them 20,000 sats when they sign up. This not only benefits you but also introduces your friends to a new way of earning and using bitcoin. Each successful referral can boost your Bitcoin earnings substantially, especially if you have a large network that’s interested in bitcoin.
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3. Spin Squad
Fold’s community-oriented Spin Squad feature enables you to earn bitcoin back not only when you spend your own card, but even when your referrals spend on their card. By sharing the Fold app with your friends and helping them work it into their daily spending, you create a passive sat stream that benefits both you and your referrals.
You’ll earn anywhere from 1-50 sats whenever your referral makes a purchase with their Fold card, but there is no maximum limit to how large your Spin Squad can be.
Spind Squad is a win-win-win arrangement. It’s a win for the Bitcoin network since you helped to onboard new users. It’s a win for your friends and family as they can start getting familiar with bitcoin and earn free sats from your spending. And it’s a win for you as your referrals spend on their Fold cards.
Buying Bitcoin With The Fold App
Fold makes it easy to buy bitcoin directly within the app. After creating your account, here’s what you’ll need to do in order to buy bitcoin:
- Link your payment method: You’ll need to fund your Fold account, so connect your bank account, debit/credit card, or Venmo account first. If you don’t want to deal with the hassle of manual funding each time you want to buy bitcoin, Fold offers automated direct deposit and recurring deposit plans to make the process seamless.
- Tap “Buy Bitcoin”: Located under the Bitcoin symbol tab, navigate to the purchase interface and enter the preferred amount of bitcoin (in USD) that you’d like to purchase. Fold offers pre-set amounts of $10, $20, $50, $100, and $500, or you can tap “…” to enter a custom amount.
- Review and confirm your purchase: Assuming everything looks right, hit “Confirm Purchase”, and that’s it! From here, it will take a short amount of time to process your transaction. But in my experience, it doesn’t take longer than five minutes before the transaction finalizes.
- Withdraw to cold storage: Don’t forget the most important step! Since Fold is a custodial platform, that bitcoin technically doesn’t belong to you until you withdraw it from the platform into your own storage device. Cold storage, like a hardware wallet, is the most secure option, but in case you’re in a pinch, temporarily moving the bitcoin to a device-connected hot wallet like Sparrow Wallet or a mobile wallet works just fine too.
Dollar-Cost Averaging
Fold offers an Auto-Stack feature that enables you to dollar-cost average (DCA) into your Bitcoin position directly within the app. By spreading out your purchases, you average out the cost of your buys and mitigate the inherent volatility that comes with a fixed supply asset that’s monetizing itself at more than twice the rate of the internet.
In the Buy interface, simply switch on the Auto-Stack feature and select your frequency. You can auto-stack daily, weekly, or monthly, with as little as $5.
Everyone loves buying bitcoin. But no one likes fees. Let’s talk about Fold’s.
Fee Breakdown
Fold offers three different account plans: Basic, Spin, and Spin+. Each of which come with their own fee structure.
For Basic users, flat, one-time purchases of bitcoin incur a 1.5% processing fee. For dollar-cost averaging, each purchase incurs a 1% processing fee.
For Spin users (free upgrade), one-time purchases incur a 0.95% processing fee, but you can enjoy fee-free dollar-cost averaging.
For Spin+ users ($10/month or $100/yr), you won’t have to worry about paying any fees at all.
Depending on your own situation, one plan may suit your needs better than others. If you don’t plan on making purchases very often, then the Basic plan may be the best option for you. If you want to frequently make purchases or set up a dollar-cost averaging schedule, upgrading to Spin or Spin+ may end up saving you costs that would have otherwise gone to processing fees.
Despite the fees, Fold incorporates some unique features to offset any funds lost to fees, and may earn you more sats over time if you use them consistently enough.
Maximizing Bitcoin Rewards With The Fold App
Debit Card Spending
When you sign up for Fold, you can get their free debit card and use it in place of your current debit card to start earning bitcoin back on all of your purchases.
- Everyday purchases: Use the Fold debit card for everyday purchases to earn a percentage back in bitcoin. The amount of sats you earn varies based on the type of purchase and any ongoing promotions. You can use the card to buy products and services in person, or to purchase gift cards online.
- Paying bills: Fold lets you use your debit card (or directly from your bank account) to pay off your bills, whether it be your mortgage, rent, utilities, phone, or something else. Have you ever earned bitcoin for paying off your house? Probably not, until you start using Fold.
- Special offers: Look out for special offers and promotions in the Fold app that provide higher sats rewards for specific merchants or purchase categories. Fold is always promoting different card boosts from select merchants and product categories.
By leveraging Fold’s full array of features, paying attention to card boosts, and taking advantage of special deals, you’ll be maximizing your sat earning potential.
Round-Ups & Multipliers
Fold offers a unique Round-Up feature that allows you to round up your everyday purchases to the nearest dollar and invest the difference in Bitcoin, so you can passively stack sats without ever thinking about it.
And by taking advantage of round-up multipliers, you can increase the amount of each purchase that goes towards bitcoin. Multipliers take the difference between your purchase amount and the nearest dollar amount, multiplies it by your chosen level, and stacks an equivalent amount in sats.
Fold’s round-up multipliers are set at:
- 1x: So a $1.80 purchase rounds up to $0.20 in BTC.
- 2x: So a $1.80 purchase rounds up to $0.40 in BTC.
- 5x: So a $1.80 purchase rounds up to $1.00 in BTC.
- 10x: So a $1.80 purchase rounds up to $2.00 in BTC.
If you make frequent small purchases, the round-up feature is a game changer for stacking sats easily and paying off those small purchases over time as bitcoin appreciates.
Fold Vs. Traditional Debit Cards
Unlike your typical debit card, which doesn’t even typically earn cash back or other rewards, the Fold debit card implements one of the most value-adding rewards programs out there. By incorporating Bitcoin-back rewards into your everyday spending, your Fold card gradually pays off your own spending over time.
A typical debit card is automatically linked to your bank account, so it requires no external funding method, unlike Fold. However, Fold offers easy workarounds:
- Instant funding so you can load your card up anytime you see fit.
- Automated direct deposits that convert a defined percentage of your paycheck into bitcoin, and the remaining amount directly into your Fold card.
Along with the aforementioned benefits of spending with Fold instead of a traditional debit card, Fold just makes sense for any and all bitcoiners.
Keeping Up With Fold Updates
Fold is always iterating and improving to ensure they keep users happy. In the works currently are two highly-requested features:
- Buy the dip: Set up an auto-purchase every time the market takes a dip. If bitcoin falls by a certain threshold, it will trigger a buy within Fold.
- Auto-Withdrawals: Set up an automated withdrawal method so that you can passively stack and withdraw your sats to cold storage without lifting a finger.
These are just two features coming down the Fold product pipeline. But as the Bitcoin space evolves, so will Fold. As it currently stands, you can essentially already use Fold as a replacement for a typical bank account, while integrating Bitcoin rewards into every financial interaction you make.
Final Thoughts
It won’t be long before using bitcoin in our everyday lives will be just as seamless, if not more, than our current financial system. Apps like Fold demonstrate how this is becoming possible.
Whether you want to buy bitcoin, buy products, services, or gift cards, pay off your bills, or share bitcoin with other people, the Fold app ensures that you get rewarded for taking part in any of these actions. It’s a business model that compounds its own growth as the Bitcoin network grows. And you should be a part of it!
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