Fold has recently announced the launch of its Bitcoin Rewards Credit Card in partnership with Visa, offering users the opportunity to earn rewards in bitcoin for their everyday spending. The card comes with a range of benefits, including 2% unlimited bitcoin rewards for Fold+ members and up to $250 in welcome bonuses. Fold members will also earn rewards, receiving 1.5% back in bitcoin and up to $100 in bonuses.
In addition to the rewards program, cardholders will have access to a variety of financial services through the Fold app. This includes the ability to trade bitcoin with zero fees, exclusive bonuses from partner merchants, FDIC-insured transactional accounts, and insured bitcoin custody. The app aims to provide users with a comprehensive suite of tools to manage their finances and earn rewards in bitcoin.
The decision to launch the Bitcoin Rewards Credit Card was driven by user demand, with Mitch Port, General Manager for Credit and Loans at Fold, stating that it was one of the most highly requested products. The card is the latest addition to Fold’s existing product lineup, which includes the Fold Debit Card that allows users to pay bills, deposit fiat, and convert paychecks into bitcoin.
Fold currently boasts 600,000 users who have earned approximately $75 million worth of bitcoin rewards. By introducing the new credit card, Fold hopes to establish bitcoin as the standard for credit card rewards, aiming to compete with traditional miles-based rewards programs.
Founder and CEO Will Reeves expressed his confidence in the potential of the Bitcoin Rewards Credit Card, stating that the company aims to surpass traditional miles cards in terms of usage. Fold is also set to list on the NASDAQ as the first publicly-traded Bitcoin financial services company, with a top 25 bitcoin treasury among public companies.
Individuals interested in obtaining a Fold Bitcoin Rewards Credit Card can join the waitlist on the Fold website. With its focus on making bitcoin the cornerstone of personal savings for millions of Americans, Fold is poised to revolutionize the credit card rewards landscape.