FOLD App Review | How To Earn Free Sats Back In 2020 — Bitcoin Lockup
In this Fold App Review, I am going to discuss why this free app is a good way to start accumulating free bitcoin and start “stacking sats” as they say. I’m always looking for new ways to start accumulating more bitcoin and finding real world use cases where I can do so, outside fo buying it directly from an exchange.
This is primarily targeted for mobile use (using their iOS and Android app) for using this. If you want to learn about ways to earn free bitcoin while shopping on a desktop computer, then I would check out my full review of Lolli App, HERE.
I am going to touch on some of the basics of how much you can earn with it, how it works, who it’s really designed for, and my overall feelings of if it’s actually worth using. If that is what you’re looking for, then look no further!
If you frequently make purchases with Amazon, Uber, Starbucks, Target, and Sephora (to name a few), then this app is for you. This app allows you purchase discounted gift cards, as well as earn free bitcoin (satoshis) for each purchase that you make. Once the order goes through, it’s credited to your bitcoin wallet within the app almost immediately.
This is designed not only to save you money on what you are already spending, but allows you to earn free bitcoin rewards for doing so. If you’re already spending at these places, why not get free bitcoin for doing it, right?
In the app, you can always see which vendors have offers and they are adding more all the time. Additionally, the discount your receive varies for each vendor. For example, Airbnb will give you 3% cash (bitcoin) back, but L.L. Bean will give you 10% back. The app is constantly updating to offer you the best deals.
How Does The Fold App Work?
This works for both online and physical locations. Since it’s gift card based, once you make a purchase in the app, it will generate a gift card and a bar code on your screen, for the cashier to scan and use directly.
This will also provide a “gift card code” for you to enter at on-line checkout and you can mix and match between buying online and in store as much as you want with no penalties or fees.
I will break it down step by step below on how to set this up and how it works in a few simple steps.
NOTE: You will receive the bitcoin rewards for the amount of gift card purchased, not the actual products you buy with them.
- Load a gift card you buy with Bitcoin on the Fold app, to your account
- Use that gift card at select retailers and restaurants by using the barcode or the number beneath it.
- You can make online purchases with your Fold gift card or you can purchase at physical locations
- At physical locations, all you need is to scan the bar code from the app on your phone at the cash register
- Every purchase you make with the gift cards that you have on your Fold app will credit you with Bitcoin cashback
- The amount of Bitcoin cashback you get on any purchase depends on the individual retailer or restaurant
Is The Fold App Worth Using?
If you are looking to start dipping your toe into cryptocurrency and you’re not quite ready to buy it directly yet, then this is for you! This is a seamless way for you to spend your normal fiat currency and start earning bitcoin back on direct gift card purchases.
This is also good for sending gifts directly, so whether it’s the holidays and you want to send a gift via email (or Twitter) you can earn bitcoin to your wallet for doing so. This can be used for any occasion as well, not just for gifting.
For the avid crypto users, they are also implementing lightning payments this year as well, so you’ll receive even more discounts if you decide to grow the crypto-economy by paying with crypto, instead of using a debit/credit card as well. More on that as it develops…
So, is the Fold App worth using? I would definitely say yes. Especially if you spend frequently at these places anyways and purchases exceed at least 15$ in most cases, then there is no downside here, only upside.
What do you think? Would you use the Fold App for free bitcoin? Let us know down below in the comments!
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people accumulate and secure their crypto.
Originally published at https://bitcoinlockup.com on February 20, 2020.