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Fold Bitcoin Gift Card - Looking for Stackers with personal experience.

169 sats \ 5 comments \ @Wumbo 5h bitcoin

I came across this video and got my hopes up that it would be a low friction way to buy Bitcoin.

But looking at folds website https://foldapp.com/redeem it appears you have to sign up and possibly KYC to redeem.

https://support.foldapp.com/hc/en-us/articles/35158000977691-Bitcoin-Gift-Card-FAQ#h_01K9QRE473B5JNC20ETZ7C9AAS

What would prevent me from redeeming a Fold bitcoin gift card? You must sign up for a Fold account, and be verified in order to redeem a bitcoin gift card. Fold verified users must be at least 18 years of age. Fold verified users must reside in the United States.

Are the guys in the video misunderstanding what it takes to redeem or is the verification just a check box saying your over 18 and in the USA?

@MaxAWebster

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112 sats \ 2 replies \ @Cje95 4h

I am a huge huge fan of Fold! You are right that you have to sign up and do KYC (Fold is a publicly traded company so they run a tight ship.) As long as you are in the US and can pass a KYC then you are good to go!

The US only aspect of it has been an issue with people I have talked to about it. As most of the stuff requires the gift cards to be used in the US (Amazon gift cards are only available to be used on Amazons US website.)

For what it is worth I am a Fold+ person and have used them for 5 years and 7 months lol and can tell you that there platform is super super easy and I think gives you a hell of a bang for your buck.

If you havent signed up or are interest in it if you sign up with a referral link here is mine.... once you make your first purchase of $25 on your Fold Card get $20 worth of sats as a bonus!

10 sats \ 1 reply \ @Wumbo OP 4h

I have been resisting going down the KYC path for years. But it is becoming harder and harder for me to find ways to buy bitcoin efficiently.

I am probably going to make poll post in the near future asking if one had to use a KYC service what would they pick.

Would Fold be your top recommendation for a KYC service to acquire Bitcoin?

20 sats \ 0 replies \ @Cje95 4h

What got me onboard with Fold was the sats back I could get using them. All of my Ubers, Amazon, DoorDash, Southwest Airlines, PetSmart, CVS, Nintendo eShop, etc. purchases are funded by the Fold Debt Card. The lowest percent back is Amazon at 1.75% otherwise Uber is the lowest at 3% back. PetSmart is a whopping 10% and Nintendo is 9% so they are such healthy returns I just went it would be stupid not to.

With the auto purchases they now have (so you can set it to be the 5th of every month X amount in dollars is bought) and the ability to pay my credit card bill and earn sats as well it just worked to well. The prices I have gotten BTC at have always been very competitive as well so it isnt like there is a huge spread and I am getting crushed.

It might just be the Fold+ people who have the fee free BTC purchases but I am not sure.... I know I do not get charged fees. Also with the rewards the company pays to send the sats to your wallet address for free when you hit the 30k level. This is something that they have lowered this year it used to be 50k sats but the price spike they adjusted accordingly. They do this distribution each Tuesday FYI.

Overall Fold is just a killer all in one app at this point. It is hard to put together all the things that they offer.

10 sats \ 0 replies \ @Kontext 1h

I'm not entirely sure how the Fold bitcoin gift card works (and I'm not a US citizen to either), but personally I've used Lightsats for creating vouchers and gifting BTC (and even offered them as rewards to be redeemed on my site: https://lightsats.com/ (You do have to manually load the sats on them though)

0 sats \ 0 replies \ @Angie 2h

Al que le toco le toco