It’s really nothing groundbreaking. 2% isn’t much. I roll my 2-3% reward card to bitcoin anyway. Plus you need fold + for the 2% (membership fee). I can appreciate the idea though.

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They give you the extra reward because they assume that they will either make more in membership fees than you pay, or you will spend more because you have a sunk cost, earning them more, or both

I hope fold turns out to be a great company. But they give me Swan vibes.