Fold App review – 1 year later

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Just some thoughts on using the [Fold App]( and it’s rewards program in sats for the past year. If you don’t know about it, the Fold App is a Visa debit card that works in conjunction with an in-phone app to provide you rewards in Sats.

There are two versions of the card, Spin and Spin+. When I signed up I went with the Spin+ which is $150 but offers some greater incentives and higher chances of spinning and winning stuff. The basics of how it works:

* You can connect your bank and add money (either on a set schedule or as needed)
* You use the Visa debit card like any other card when making purchases
* After every purchase you get an opportunity to spin a wheel in the app and get a reward for your purchase
* The rewards vary from things like .25% back in sats, to 100% of your purchase back in sats and even a chance to win 1 BTC!

Some additional tools with the app:

* You can purchase various gift cards like Amazon directly via the app and you get a bonus in sats for the purchase
* There is a AR type of game that you can play and win some sats and extra spins
* There is a Daily spin wheel which is separate from your purchase spin wheel that you get to use every day. This one typically gives you some daily sats and if you spin it 7 days in a row you get a 250 sat bonus

Overall thoughts and experience:

* I like the gamification approach to the app. It’s fun to make a purchase and then spin the wheel and see if I can gain some decent sats from the purchase
* I used the card nearly every day for general purchases like coffee and lunch stuff
* I purchased Amazon gift cards a few times since I’m generally using Amazon for other purchases anyway
* The spin wheel changes throughout the year. Sometimes this is part of a promo (like they did one for the Miami bitcoin event).
* There was one period of time where the spin wheel algorithm was definitely failing with the lowest reward result happening multiple times in a row, spin after spin but that was a short lived problem
* I never had any really big winnings
* Transferring sats from my winnings to my Muun wallet was easy but they only do the transfer once a week, which would probably be better if they would do it more frequently
* It’s easy to initiate a bank transfer to top up the card but it still takes 2-4 days for the transfer to happen (yay fiat banking system!)

**Final takeaway**

I think in the end I’m probably going to downgrade to the free version of the card. It’s not likely I’m going to even break even with my sat rewards against the $150 I spent on the card so that has made it not worth it imho. I do like the gaming aspect and I think it’s a fun way to engage users but that premium fee isn’t giving me enough incentive to stay with it. For others, if you think you’d use the card a lot more than I do and for higher purchases, then it might be better suited for you.

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