Bitcoin payouts with Fold3 min read
OpenNode is proud to announce that we are partnering with Fold Inc. to deliver bitcoin earned to Fold card users. Fold is a Bitcoin rewards app and debit card that allows users to earn Bitcoin back on every purchase that they make. Fold Inc. was founded in 2014 and is an industry leader in Bitcoin rewards based out of Atlanta, Georgia.
Fold has introduced an innovative way for users to dollar-cost average into Bitcoin just by using their app or debit card for everyday purchases and without actually changing their spending habits. The Fold app for iOS and Android is completely free to use and lets users buy gift cards, then earn rewards in the form of bitcoin. Users can earn 3% to 20% back in bitcoin for each gift card purchased through the Fold app. The Fold card, which is a prepaid debit card and the world’s first Bitcoin rewards card, allows users to spend at any online or offline merchant that accepts Visa. As the Fold website says, “Ditch miles & points for the best performing asset of the decade.”
Fold supports many major online and retail stores including Amazon, Hotels.com, Lowe’s, Macy’s, Old Navy, Domino’s, Chipotle, Sephora, Starbucks, Uber, Dunkin, GrubHub, Nintendo, and adds new stores every week. The process for earning rewards with the Fold card works in 3 steps: 1. Make a purchase with your Fold card. 2. Spin the revolving post-purchase wheel after every purchase. 3. Earn up to 100% back on every purchase, or even a whole Bitcoin. This helps to “gamify” the process of earning Bitcoin rewards and provides an engaging and interesting experience for Fold users. 12 users who have won a whole Bitcoin till now.
Another interesting way that Fold has gamified the process of earning rewards is by introducing an augmented reality scavenger hunt in the style of “Pokemon GO”. Users go through their surroundings in search of Bitcoin and other rewards such as merchant deals and cashback prizes.
Fold supports a number of payment methods, allowing users to pay with credit cards, Bitcoin over the Lightning network, and other methods of payment for each purchase. They also have an affiliate program that allows users to compound rewards earned, and use the Lightning Network to minimize transaction costs and enable instant payouts with Lightning Network Withdrawals using the OpenNode API.
“We are continuing our tradition of moving the space towards Lightning as we did before in the early days with Lightning Pizza. By incentivizing users to use Lightning and opt to receive their rewards in a Lightning wallet, we are bootstrapping LN adoption.”Will Reeves, Fold CEO
OpenNode is passionate about Bitcoin and Lightning Network adoption and this partnership supports the growth of both. We are excited to help Fold users receive Bitcoin earnings as quickly and cheaply as possible with the help of the Lightning Network.
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