“People are not interested in spending Bitcoin right now, but are interested in accumulating it. If people don’t understand Bitcoin as money yet, they certainly will understand it as a better reward.”
These are the words of the CEO of a US based startup “Fold” that has teamed up with Visa to enable their users to get their hands on Bitcoin in the form of cashback rewards for their shopping.
This is a brand new initiative just announced by Bloomberg in this article.
This is not just great news for crypto adoption but also making it possible for millions of people who already use their cards for 90% of their shopping to earn cashback rewards directly in Bitcoin.
According to Bloomberg:
“As much as 10% of cash purchases made with the co-branded debit card from San Francisco-based Fold and Visa will be credited to users in Bitcoin, Fold Chief Executive Officer Will Reeves said. He expects it can bring a wave of consumers to the world’s most-valuable digital asset.”
Placing Bitcoin rewards next to familiar incentives like airline miles, loyalty points or cash shows a maturity in how people are viewing cryptocurrencies, Reeves said.
Bitcoin “enters the pantheon where it’s that much closer to everyday consumers,” he said. “I fundamentally believe there are more shoppers than speculators.”
This also comes at a pivotal moment right now as more and more people become interested in owning a piece of Bitcoin. As I reported in this post, the amount of wallets owning 1 Bitcoin or more has reached an All Time High in the past quarter and with the most recent price dips, it is even more attractive to first-time buyers. This is another step in the direction of global adoption of the cryptocurrency.
I already put my name on the waiting list for this new card and you can do so too with this link: https://use.foldapp.com/r/WYJTCW3M
It’s worth mentioning that joining with this link will also grant you 30 000 satoshis (the smaller decimals of Bitcoin) for free so make sure you get on their waiting list asap.
The company also offers reward cards with further cashback options for many popular retailers such as Amazon, Starbucks, Gap, Macy’s, Hotels.com, Burger King and a lot more. This is optional.
According to their FAQ section:
“Fold allows you to earn bitcoin as cashback when you shop at retailers with your credit card or bitcoin wallet. Pay with your credit or debit card or transfer BTC from your bitcoin wallet into a digital gift card on your phone and receive bitcoin cashback instantly. Once you’ve made your payment, you can find your brand-specific gift card barcode or code in the “My Cards” view in your Fold account. ”
Link to join Fold and get 0.00030000 BTC: https://use.foldapp.com/r/WYJTCW3M