Fold offers a unique way to earn Bitcoin through everyday spending. This platform provides a rewards program where users receive Bitcoin cashback, known as "sats back," on purchases made with the Fold card or via the app. It also features a gamified spin wheel for additional Bitcoin rewards, discounts, and perks.
Founded in 2014, Fold's mission is to make Bitcoin more accessible by integrating it into daily life. The platform partners with various merchants, enabling users to earn Bitcoin when shopping at popular retailers. It supports Lightning Network transactions, aligning with the broader goal of promoting Bitcoin adoption.
How Fold Works
Fold integrates Bitcoin rewards into everyday spending. Users can earn Bitcoin in three main ways: buying gift cards, using the Fold Debit Card, or using the Fold Bitcoin Rewards Credit Card.
- Gift Cards: Fold offers a marketplace where users purchase gift cards for popular retailers and earn Bitcoin back instantly. Some brands provide up to 10% back in Bitcoin.
- Fold Debit Card: This prepaid card rewards users with Bitcoin on every purchase. Instead of traditional cashback, you receive Bitcoin.
- Fold Bitcoin Rewards Credit Card: Issued by Sutton Bank in partnership with Visa, this card allows Fold+ members to earn up to 2% back in Bitcoin.
Additionally, Fold features a Spin Wheel that gamifies rewards. After each purchase, users can spin for a chance to earn extra Bitcoin.
Key Features of Fold
Fold provides an easy way to earn Bitcoin rewards on everyday spending through its app, debit card, and credit card.
The Fold Card
Available as both a debit and a credit card, the Fold Card allows users to earn Bitcoin back on every purchase. The debit card lets users spend from their account balance, while the credit card offers up to 2% back in Bitcoin for Fold+ members.
Spin Wheel Bonuses
Each purchase gives users a chance to spin a rewards wheel, unlocking additional Bitcoin prizes, multipliers, or full purchase reimbursements.
Zero-Fee Bitcoin Trading
Users can buy and sell Bitcoin within the Fold app without incurring fees, a feature available to Fold+ members.
Merchant Discounts & Offers
Exclusive deals from partner brands provide extra savings and bonus Bitcoin rewards.
How to Get the Fold Card
Getting the Fold card is straightforward and only takes a few minutes.
Register an Account
To get a Fold Card, first register an account through the Fold App. This requires providing an email and creating a password. Users must complete identity verification by submitting their name, date of birth, address, and a government-issued ID.
Request the Card
Once verification is complete, navigate to the Fold Card tab in the app and fill out a short application. There is no credit check involved. The account can be funded immediately. The physical Fold Card is shipped within ten business days and activated through the app.
Fold Card Limits
The Fold Card has specific limits for various transactions:
- Max Account Balance: $30,000
- Max Spend Per Debit Card Transaction: $15,000/day
- Max Spend Per Day: $15,000/day
- Max Spend Per Month: $50,000/month
- Max Cash / ATM Withdrawal Per Day: $1,000
- Max Cash / ATM Withdrawal Per Month: $1,000
International transactions are supported, but foreign transactions may incur a 3% fee.
Fold Fees
Fold offers two membership tiers: Fold Member (free) and Fold+ Member ($10/month or $100/year). Each tier provides different benefits.
| Feature | Fold Members (Free) | Fold+ Members ($10/month) |
|---|---|---|
| Fold Debit Card | ✅ Yes | ✅ Yes |
| Buy Bitcoin Instantly | 1.5% Fee | No Fees |
| Sell Bitcoin Instantly | 1.0% Fee | No Fees |
| Auto-Stack (DCA Bitcoin Buys) | 1.0% Fee | No Fees |
| Direct Deposit Bitcoin Conversions | 1.0% Fee | No Fees |
| Other Eligible Purchases Cashback | 0.5% back | 0.5% back |
Fold+ membership is designed for those who frequently buy Bitcoin and want to maximize rewards while avoiding fees. Standard members can still earn cashback but will face transaction fees on Bitcoin purchases and sales.
Is Fold Reliable?
While Fold itself is not an FDIC-insured bank, your Fold Card account benefits from pass-through FDIC insurance through Sutton Bank, up to $250,000 per ownership category. This coverage is aggregated with any other funds you may have at Sutton Bank.
Fold has a TrustScore of 2.1 out of 5 on Trustpilot, based on 19 reviews. The majority of users have given it a 1-star rating, citing issues like slow withdrawals and difficulty earning rewards. Users should proceed with caution and understand the terms of service.
Fold Alternatives
While several crypto cashback cards exist, few focus solely on Bitcoin like Fold. Some alternatives include:
- Gemini Credit Card (US Only): Earn up to 4% back in Bitcoin on categories like gas, dining, and groceries.
- Wirex Card: Offers Cryptoback rewards, letting users earn WXT on purchases, with rewards up to 8% per transaction.
👉 Explore more Bitcoin reward strategies
Pros and Cons of Fold
| Pros | Cons |
|---|---|
| ✅ Bitcoin rewards on everyday spending | ❌ Reports of account restrictions |
| ✅ No annual fee for the standard card | ❌ Available only in the US |
| ✅ Spin-to-win feature adds bonus rewards | ❌ Mixed user reviews on support |
| ✅ Integration with Fold app for easy management | |
| ✅ Option to earn higher rewards with Fold+ |
Final Verdict
Fold is a straightforward way to earn Bitcoin through everyday spending. With features like the Spin Wheel, zero-fee Bitcoin trading for Fold+ members, and merchant discounts, it makes accumulating Bitcoin feel engaging.
While user reviews indicate some dissatisfaction, it remains a solid option for those in the US looking to passively accumulate Bitcoin. Whether you choose the free membership or the Fold+ upgrade, you can stack sats while enjoying perks at various retailers.
Frequently Asked Questions
What is Fold?
Fold is a platform that lets users earn Bitcoin rewards on everyday spending through its debit card, credit card, or gift card purchases. It helps users accumulate Bitcoin seamlessly.
How can I get the Fold card?
To get the Fold card, register through the Fold app, complete identity verification, and request the card. Once approved, it will be shipped within 10 business days.
How do I earn Bitcoin with Fold?
Earn Bitcoin by using the Fold app, the Fold debit card, or the Fold Bitcoin Rewards credit card. You receive Bitcoin cashback on purchases and can earn extra rewards through the spin wheel.
What are the benefits of Fold+?
Fold+ members enjoy zero fees on Bitcoin purchases and sales, higher Bitcoin cashback rates, exclusive offers, and features like round-up spare change into Bitcoin. The membership costs $10/month or $100/year.
Is there a fee to use Fold?
The standard Fold membership is free but has transaction fees for Bitcoin purchases and sales. Fold+ membership eliminates these fees and offers enhanced rewards.
Can I use Fold outside the US?
The Fold Card is only available to US residents. However, the app itself is accessible worldwide for earning sats through other features like gift cards.