A few days ago, Fold announced a new credit card on the Visa network that offers cashback in Bitcoin.
While the card is not yet available, it promises to enable payments in fiat currency wherever Visa is accepted, with a 2% cashback rewarded in BTC.
Crypto-Powered Visa Cards: A Brief Overview
For several years, crypto-backed debit cards have been available in the market. These cards:
- Allow payments in fiat currency.
- Draw funds from cryptocurrency deposits.
- Use a service that instantly converts crypto to fiat.
However, they come with drawbacks:
- No control over conversion rates: The selling price of crypto is set by the platform at the time of payment.
- Potential fees: Some platforms apply commissions or spreads on exchanges.
Fold’s Unique Offering: Bitcoin Cashback on a Visa Credit Card
Unlike typical crypto debit cards, the Fold card is a traditional Visa credit card denominated in USD. Its standout feature?
👉 Bitcoin rewards: Earn 2% cashback in BTC on every purchase, similar to Fold’s earlier debit cards—but now with credit services included.
Key Benefits:
- No crypto conversion: Works like any fiat credit card.
- Seamless rewards: Automatically accrues Bitcoin instead of fiat cashback.
- Credit flexibility: Make purchases now, pay later, and still earn BTC.
Fold’s Track Record and Bitcoin Rewards
Fold reports impressive stats:
- 600,000+ users processing $2.5B+ in transactions.
- 700 BTC (70B satoshis) earned by users—worth $60M+.
- 1,000 BTC held by Fold, ranking it among the top 25 Bitcoin-owning companies.
Reward Tiers:
- Standard users: 1.5% Bitcoin rewards.
- Fold+ members: Up to 2% plus bonuses (e.g., $250 perks).
Launched in 2019, Fold has become a major player in Bitcoin-integrated finance.
CEO’s Vision: Bitcoin as the Ultimate Credit Card Reward
Will Reeves, Fold’s CEO, stated:
“Fold lets users weave Bitcoin into daily life. Our goal? To dethrone ‘miles’ as the top credit card reward. If mileage cards handle 1% of U.S. GDP, we’re confident our Bitcoin Rewards Card can match that. We’re building a Bitcoin-powered financial hub—helping people earn, save, and grow wealth in BTC every day.”
FAQ Section
Q: How is Fold’s card different from crypto debit cards?
A: It’s a credit card (not debit) with no direct crypto conversion. Rewards are purely in BTC.
Q: What’s the cashback rate?
A: Up to 2% in Bitcoin, depending on membership tier.
Q: When will the card launch?
A: Fold hasn’t announced a date yet—stay tuned!
👉 Learn more about Bitcoin rewards