Fold has recently revealed its plans to unveil its Bitcoin Rewards Credit Card in collaboration with Visa.
📣 Presenting the Fold Bitcoin Rewards Credit Card
Being a Fold+ Credit Cardholder pays off
☑️2% Unlimited Bitcoin Rewards
☑️Welcome Bonus of up to $250
☑️Complimentary Metal CardSign up and make your way to the top of the waitlist. $200,000 in prizes is up for grabs!
Sign-up link and blog 👇 pic.twitter.com/kSrvKAgXQA
— FOLD BITCOIN (@fold_app) February 11, 2025
The rewards associated with the card will differ based on Fold membership tier. Fold+ participants will receive 2% back in bitcoin rewards and a maximum of $250 in bonuses for achieving certain activity milestones, while Fold members will gain 1.5% in rewards and up to $100 in bonuses.
Cardholders will receive access to a range of financial services via the Fold app, including the opportunity to trade bitcoin without any fees and to leverage exclusive bonuses from affiliated merchants. Furthermore, the app offers access to FDIC-insured transactional accounts as well as protected bitcoin custody.
This new offering is being launched primarily in response to requests from existing users.
“This has been one of the most sought-after products,” Mitch Port, General Manager for Credit and Loans at Fold, shared with Bitcoin Magazine. “Most users prefer to charge to credit and earn in bitcoin.”
Port further highlighted that this new credit card represents the latest enhancement to the array of products already provided by Fold.
“A Fold Debit Card currently grants you access to an account from which you can pay bills, arrange direct deposits of fiat or automatically convert paychecks into bitcoin,” he remarked. “The addition of a credit card is an excellent feature for users who favor spending on credit as opposed to utilizing an existing balance.”
Fold presently claims around 600,000 users who have accumulated roughly $75 million in bitcoin rewards (which would amount to $20 million had the rewards been issued in US dollars). Combining its current user base with this new credit card, Fold aims to establish bitcoin as the new norm for credit card rewards.
“Fold has successfully empowered countless users to integrate bitcoin into their everyday lives,” noted Fold founder and CEO Will Reeves in a press announcement shared with Bitcoin Magazine.
“With this credit card, we strive to replace miles as the preferred credit card reward. If the leading miles cards can facilitate 1% of US GDP, we are confident that the Fold Bitcoin Rewards Credit Card can achieve similar success,” he added.
“We’re creating the hub of personal finance, driven by bitcoin, to ensure everyone possesses the tools necessary to earn, save, and expand their wealth through bitcoin on a daily basis.”
Fold is launching this new credit card as the organization gears up to be listed on NASDAQ as the first publicly-traded Bitcoin financial services entity. Additionally, Fold boasts one of the top 25 bitcoin treasuries among public corporations, maintaining over 1,000 bitcoin in its reserves. Its strategy of acquiring bitcoin aligns with its goal of establishing bitcoin as a foundational element for personal savings for millions of Americans.
Individuals interested in acquiring a Fold Bitcoin Rewards Credit Card can join the waitlist here.