https://dyernews.com/fold-app-review/ Are you interested in earning Bitcoin just for buying from select brands? Let’s take a look at the app Fold which helps make that possible.
Fold app: https://dyernews.com/fold
For those who hate entering all of their personal info when signing up for a new app, the good news is that Fold keeps that to a minimum. In fact, while you can sign up via a few different methods including using your email address, Fold also allows for anonymous account. However, there is a downside to this option as you’ll need to retain a backup code in order to access your account if you get logged out — otherwise you could lose anything you’ve earned. For that reason and others, if you feel comfortable doing so, I’d recommend setting up an account with a regular password.
Next, to earn Bitcoin with Fold, you just need to purchase gift cards through their platform
On Fold, you’ll find a number of gift card options from a variety of brands. Not only do these cards come in differing dominations but also earn you a different percentage in Bitcoin back. For example, a purchase of a Bed Bath and Beyond card may earn you up to 5% back in rewards whereas a Chipotle card may only give you up 3% back. By the way, while you will be earning Bitcoin for your purchases, Fold expresses your rewards balance using the term Sats, which is a small fraction of a Bitcoin.
Once you choose an option and make your purchase, the card info will show until the My Cards tab. In my experience, redeeming my gift card was an easy process, as all I needed to do was copy and paste the number into Amazon. Then, you can archive the card so you know you’ve used it but can find it for future reference by visiting the Account tab.
In order to get the higher amount of rewards with Fold, you’ll need to pay with Lightning. Additionally, adding a credit or debit card to pay with includes a fairly unique step.
Something important to note is that the quoted rewards figures you see as you scroll Fold are reserved for those who use Lighning to pay for their purchase. Meanwhile, using a credit or debit card instead will result in a smaller reward percentage. As an example, while Fold offers 4% back on Amazon cards using Lightning but only 2% when using another form of payment. . Luckily, Fold will clearly disclose the amount you’ll get back before you make your purchase.
Speaking of credit and debit cards, one part of the process i found interesting was that, in order to add to a payment card, Fold put a temporary charge on my card amounting to less than $5. Then, I needed to verify the account by entering the amount this charge was for. To be clear, these transaction did fall off and so it wasn’t a big deal but is a strategy I can’t say I’ve encountered before with debit cards.
Another ways to earn Sats on Fold is with their daily prize wheel — including hitting a seven-day streak
Another useless aspect of Fold is their daily prize wheel. Not only can you score between 100 and 10,000 free Sats by giving it a spin but, alternatively, have the chance to unlock different boosts. So,say your spin lands on the +.50% slice, that means that any purchase you make before time runs out will yield you an extra half a percentage point in Bitcoin rewards — say 4.5% instead of 4%.
Even better is that, if you manage to spin the wheel every day for seven days in a row, you’ll be rewarded with an extra 1,000 Sats for free. In other words, there’s good reason to check out the app each day even if you don’t have plans to make a purchase.
Once you’ve earned enough Sats, you can transfer your rewards but you’ll need to have an external Bitcoin wallet to do so
By tapping your balance in the upper right corner, you can see how many Sats you have as well as what that currently converts to in U.S. dollars. Then, when you accrue at least 50,000 Sats, you can request a withdraw. To set up a cashout request, you’ll first need to have an external Bitcoin wallet and enter the address within Fold. Personally, I decided to send my earned Sats to my Cash app account — although you will need to opt into the “send and receive Bitcoin” feature in the Cash app to do this.
Also notable is that Fold currently only pays out rewards on Tuesday evenings Eastern time, so keep this in mind when requesting your cash out.
Overall, I like the concept of Fold and think it could be a good option for those who are curious about cryptocurrency but don’t want to buy a bunch just yet.
With a strong line-up of gift cards available, I feel like Fold makes it easy to earn Bitcoin rewards
For more product reviews make sure to visit https://dyernews.com/category/reviews/
and for all my video reviews https://www.youtube.com/playlist?list=PLFfM5Lf816an_Ux9qetCn_0sy4FoK4naw
#Bitcoin #GiftCards #Moneyat30