Introducing The Fold Bitcoin Rewards Credit Card: Earn Crypto While You Spend!

Fold has recently unveiled plans to introduce its bitcoin Rewards credit card in collaboration with Visa.

The rewards structure tied to the card will differ based on the membership tier within Fold. Members enrolled in Fold+ can expect to earn 2% back in Bitcoin rewards alongside bonuses up to $250 for achieving certain activity benchmarks, while standard Fold members will receive 1.5% in rewards and bonuses up to $100.

Users of the card will also enjoy a variety of financial services via the Fold app, which includes trading bitcoin without transaction fees and accessing exclusive bonuses from partnered merchants. Moreover, the app offers FDIC-insured transactional accounts and secure bitcoin custody.

This new offering was developed in response to enthusiastic requests from existing users.

Mitch Port, the General Manager for Credit and Loans at Fold, expressed to Bitcoin Magazine,“This has been among the most demanded products.” He further noted that many users prefer using credit for their purchases while earning bitcoin in return.

Port highlighted that this credit card is the latest addition to Fold's existing array of services.

“Currently, a Fold Debit Card allows users to manage an account for paying bills, facilitating direct deposits in fiat, or even converting paychecks directly into bitcoin ,” he elaborated, adding that the introduction of a credit card is a fantastic enhancement for users favoring credit spending over utilizing their existing balance.

With over 600,000 debit card users, Fold has distributed approximately $75 million in bitcoin rewards, a figure that would stand at $20 million had rewards been given in US dollars. By leveraging its expansive user base and the new credit card, Fold aims to establish bitcoin as the predominant option for credit card rewards.

Fold's founder and CEO, Will Reeves, noted,“Fold has already enabled hundreds of thousands to seamlessly integrate bitcoin into their everyday spending,” in a press release shared with Bitcoin Magazine.

“Our goal with this credit card is to replace miles as the premier credit card reward choice. If leading miles credit cards can manage 1% of US GDP, we believe that the Fold Bitcoin Rewards Credit Card can achieve similar success,” he remarked.

“We are creating a central hub for personal finance powered by bitcoin , ensuring everyone has the necessary tools to earn, save, and expand their wealth using bitcoin daily.”

As Fold prepares for a NASDAQ listing as the first publicly-traded company in Bitcoin financial services, it possesses one of the top 25 bitcoin treasuries among public entities, maintaining over 1,000 bitcoin in its reserves. This accumulation strategy aligns with its commitment to make bitcoin a foundational element for personal savings for millions of Americans.

Those keen on applying for the Fold Bitcoin Rewards Credit Card can join the waitlist here .

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