Fold: Bitcoin Personal Finance

Great way to stack Bitcoin and get sats back on the fiat transactions you had to make anyway! For nearly 3 years I have been a loyal user. Have needed support a few times, and the emailers at the other end have always been prompt, courteous and helpful. Like how you can buy Bitcoin during the dips in mere seconds; only complaint is how there is a fee in the form of a higher price being charged compared to spot. Like, if spot is $92,000/BTC the moment before I hit the Buy button, the confirmation will show some percentage higher, like $93,250, on top of the stated transaction fee. Feels like paying a fee twice. Always we know the middleman, Fold being the on-ramp in this case, gets his due, but it just feels a bit scammy. But, I still give Fold a high score, since any other on-ramp seems to round up in a similar subtle way, as if we won’t notice. Coinbase certainly does this. Gold and silver dealers do it too.

Using for over 5 years, premium ($100) card for 2 years. I have been using this card since around 2019 getting gift cards for AirBnB. It was exciting for the spins where you had semi decent chances for winning bitcoin. I liked it so much I even got one of the Fold backpacks… Now the chances of winning anything aren’t even close to where they used to be. Rewards certainly aren’t where they used to be. I’ve been slowly watching them cut back more and more every year on rewards. They aren’t competitive with anyone else major at this point, there is no real “fun” with the spins anymore. I don’t know if they are doing this because they are trying to go public or what but it’s not what it used to be. Sad to see the direction this company went after being a loyal user for half a decade. Edit: It’s a bit dishonest to say the rewards haven’t changed. Originally there was no “premium pay” for $100 a year, rewards and bitcoin back have had percentages taken away/diminished, the spin wheel is a shell of its former self. You have to spend $20,000 a month (?!) before you get 1.5 percent back that isn’t ACH…There wasn’t a I remember excitedly people sharing big wins in the discord group. That is gone, or very small compared to where it was.

When I transitioned from traditional credit back to debit transactions I knew I was taking the harder road. However, the Fold card and its features were worth the sacrifice. I love spinning to get Sat’s back for every transaction I make. I wish I could score the occasional high percentage reward, but I know that’s just not how algorithms and businesses work. The standard 1% and occasional 2% are mainly the high points of success on the wheel. In the end it doesn’t matter, because every Sat I get is just another inch closer to financial sovereignty. Perhaps someday I’ll score the whole Bitcoin or 100% back, but until then all of my available transactions are going to be Fold transactions. The one big complaints I have is that my wife and I really want to put everything we pay for on our Fold Card, but there are limitations. The big fish that we would really like to put on the Fold Card would be our mortgage payment. However, there is only a hack method of achieving that. That method is to pay your mortgage through PayPal by linking your Fold Card as payment…unfortunately it requires your lender to accept payment from PayPal or Fold to allow you to use your routing number to be connected to the lender as payment and it’s very limited at this time. THAT would be an awesome big fish to spin on every month. Perhaps as the Fold Card grows and matures, it will be accepted more and more by most agencies. Otherwise this is an amazingly fun App to use. Please continue to improve this Card/App and I will continue to keep stacking Sats.