Those spins are such a scam compared to zaps. Unexpected plot twist: nostr zaps puts Fold out of business š
Discussion
I withdrew my first bitcoin purchase from fold today & had a whole disbursement verification email from prime trustā¦grr. I will not bother again.
Ahhh prime trust gotta know where youāre sending your sats and decide if itās allowed! Personally I will never do business with another company that uses Prime Trust again. Youāre just asking to get your funds locked. Ask me how I know š«¤
And it takes a week to withdraw your minimum 50,000 sats on-chain becauseā¦they canāt figure out how to implement Lightning withdrawals?
I donāt understand why you guys are hating on fold.
I get between 1 and 3 percent back just for paying fiat bills I have to pay anyway. Stacked 6 millions sats in the past year
Iāve been using Fold since they were just an app for buying Starbucks cards with bitcoin. I had really high hopes for their debit card, but between the annual fees, their lack of Lightning support, their removal of free instant deposits, and most recently, the halving of the Amazon gift card reward, Iām not seeing much of a benefit anymore.
I guess Iām not getting the most out of the bill pay feature. Doesnāt that rely exclusively on PayPal?
same
After about two years Iām ready to hang it up
If you get percent back on a regular card and just buy btc itās probably more
I pay my regular credit card through foldā¦I am getting point through chase and then get extra sats back when I pay the bill every month
I have never used for daily purchases
I quit using fold for most of these same reasons. It was a pain and took multiple days to get money reloaded, and just stopped being worth the 27 easy steps.
Yup relies on PayPal but itās free sats for something I would normally just ACH over from my bank account.
Two extra clicks and I get to spin the wheel
But you have to ACH or direct deposit the all the fiat into it a few days in advance before paying the bills or you end up paying 1.5% on instant transfers. Do you just use recurring deposits then?
Correct and yes! Recurring deposits when I get paid
Very lame they got rid of the free instant deposits but if it keeps them in business and allows me to stack sats for paying bills I canāt complain 2 much
My last ACH to them took over 7 days. Too much of a pain to jump through the hoops for a minuscule payout. Much better ways to stack.
They have whittled the service down tremendously from what it was a year or two ago. Removed basically every feature that made it worth using IMO.
Iām no longer interested in Fold either. I canāt justify the trouble I go to to get theses sats, if they can barely cover the annual fee at this point. And the instant transfer fee is just enraging. This feels like another unsustainable business model clawing back every defining feature. Itās easier to just buy bitcoin using my monthly cash rewards from a credit card.
This šÆ
Instead of continuously improving the experience, theyāve been stagnating and rolling back features.
This is the sign of a company thatās gasping for air. Next comes the downsizing. Weāve seen it all before.