This is the #1 way that I use to stack a lot of extra, EASY bitcoin.
I'm not even *buying* it.
~$8,000 worth in 1.5 years... not a joke.
People really dismiss this combo, but it makes a huge difference if you use them consistently. 👇
Shout to Fold, nostr:npub18tcc00lqpysdsurg567dllzg7jeyr5wcyk2v6w23rx3s3ygyze2qv32nxx and nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 for the setup that makes this work. 🫡
Obligatory referral links that all come with free sats 👇
http://bitcoinaudible.com/fold
Anyone know of a UK equivalent?
I use the bitcoin company to get my groceries at Morrisons, Nero Coffee and others, works wonders
KYC = FIAT
willing to share a viable non-kyc option?
Well yeah, but are you saying you don’t have a bank account or debit card? Because the question is whether you want to go full fiat, or if you’d rather have one where you can earn bitcoin.
If you go completely no bank and no tradfi, then sure, but otherwise the choice is between ONLY fiat, or adding bitcoin.
Add Lolli to this!
Slightly different approach… charge everything on Apple Card. Using Apple Pay gets you 2% back and they payout that cash back daily as Apple Cash. Transfer to Fold and buy Bitcoin with no transaction fees. Thank nostr:npub1x458tl7h9xcxa66vr4a8pg0h2qz96pnhwnfpcra0le9090uk5t5qw7armt for this one.
Are there fees for buying the gift cards and adding money to the fold card?
There is a version that’s completely free. But there is premium that gets better rewards. $10 a month for premium
nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 + 2% cash back credit cards beats this.
^exactly this. I don't get why Fold people are ok with way less cash back
It's not just the cash back, you're able to hold into your Bitcoin another month before selling on the due date for the statement. Essentially allowing you to short the dollar against the average value increase in a month for an asset that grows in value on average 58% a year the last 6 years.
I do miss the old days of Fold.
The pedal has definitely let off and I appreciate the work Will Reeves has done.
BUT, it still works especially with low time preference and I still use it daily even if it’s not as generous as it once was.
I tried setting an account once, the app did not accept me as a customer 😅 I took it as a sign.
Getting my GF signed up this week! Thanks for opening our eyes to this, Guy!
I had the thought that while my previous comment is technically correct that Strike plus a 2% cash back card is better for those truly living on a 100% Bitcoin standard, Fold is actually a great transitory product for those who aren't ready for that and need a checking account for day to day USD usage with debit cards. So I shared your video and referral link with some friends and family who I think would benefit from it. 🖖
You're my favorite podcast, just don't tell nostr:npub1cj8znuztfqkvq89pl8hceph0svvvqk0qay6nydgk9uyq7fhpfsgsqwrz4u 🤫 cause I love his show too. 😂
Btw, this is now about $11,700 still doing this since I made this video.
nostr:nevent1qqs8npwfgv9cq8lt4as9nwq9cnpmseus8d9g287fw4436drtw463awsnkdk05
nostr:npub1r6nuk8xvyx36p59sv3vsq8v82asq40gvjwmy3am3t0ap53g8u74s3fqgzp let’s get sats back with gift cards ☺️
Never understood “rewards”. Why would someone pay you for using a service?
Debit cards (banks) make money on interchange fees. But Fold decides not to. Instead they take that fee and give it to the customer in sats, and then just charge a monthly for the banking service. So if you use it right, you can get tons of rewards because you are just earning your own interchange fees that the bank usually earns off of you.
With the gift cards, retailers sell gift cards in bulk at discounts, and then the sellers pass that discount onto the buyer. Because literally billions of dollars in gift cards go unused, and it locks in the buyer to the service so they gain by having guaranteed return customers until the balance of the card is used.
Then there is just general rewards. If you give someone a free coffee after they buy 8, then not only do you reward loyal customers, but you also ensure that they will stop by a 9th time get a free coffee, and probably pick up a breakfast sandwich and a danish to go with it. Then they'll start earning rewards to their next free one.... its a way to entice customers to stick around and have a way to stay ahead of the million other things that will pull us one way or another during the day.
Rewards actually make a ton of sense, which is why they are so prevalent, and the setup for the companies I use in this example are both sustainable and really clever actually.
Fold may be the exception but generally rewards are offered because you are the product. You are incentivised to pay by card and the merchant is charged anywhere from 1 - 3% traditionally although there are some lower fee structures rolling out.
For the tax advantage, the capital gains basis does not start until you withdraw?
Correct. I keep it in there until I'm ready to use it, or I have enough that I want to just put it in cold storage. But i leave it as long as I can because my cost basis is when i hit "send."
Now we just need to get Fold on Nostr!
Best way is getting 2-3% fiat credit card and buying 🌽 with rewards. Better yet apply for new card and get bonus in cash and buy 🌽.
