TL;DR:
We’ve improved our bitcoin buying experience and will be rolling it out today to select users. Over the last month, we’ve worked hard to ensure our custody is sufficiently diversified across custodians and have built out exciting new bitcoin buying and management features.
First, A Recap
In September, we made the call to hold off on relaunching our bitcoin buying feature until we had successfully upgraded our bitcoin trading and custody experience. Since then we’ve made great progress in upgrading our infrastructure, partners and security. Here are some key updates:
- All bitcoin is now securely held at Bitgo in cold storage in an on-chain address and monitored 24/7.
- All bitcoin purchased can be immediately withdrawn to an external wallet without any holding period to eliminate all exposure to third party custodians.
- We're adding new custody and trading partners to ensure a well-diversified range of partners with built-in redundancies. Details about these new partners will be unveiled in early 2024.
- Get ready for exciting new bitcoin features that we're rolling out over the next month!
Launching Today
We're excited to announce that today, we're relaunching the Fold bitcoin buying experience for a special group of users. If you're a Fold Cardholder who used this feature before July 1st, 2023, keep an eye on your phone and email for a notification to see if you're among the fortunate few who can buy bitcoin again!
To mark this exciting return, we're giving away 50 Spins to the first 500 individuals who make a bitcoin purchase! Upon a successful qualifying buy, individuals will see a special separate push and Spins deposited in their account within 24 hours.
If you aren’t part of this initial relaunch group, don’t fret. We are working hard to expand access to all of our users as soon as possible.If you received an email notifying you of your regained access yet you aren’t able to buy bitcoin, please make sure your app version is on 139.25.5. You may need to update and refresh your app accordingly. You can also reach out to support@foldapp.com for additional assistance.
What Lies Ahead
All this groundwork lays the foundation for the really exciting part: new bitcoin features! We've got a host of engaging and fun features lined up. Here's what you can expect in the coming weeks and throughout 2024:
2023
- Optimize your financial strategy with Auto-Stack: automated bitcoin buying for greater investment control.
- Push to Card lets you send bitcoin to your checking account to spend and pay bills.
- Enjoy Instant Bitcoin Withdrawals, allowing you to move your sats into cold storage quickly.
2024
- Maximize your spare change with Bitcoin Round-Ups and invest in bitcoin effortlessly.
- Lightning Withdrawals let you withdraw quickly and without fees.
- Automated Bitcoin Withdrawals ensure a seamless “Fold to Cold” experience.
Initially, these new features will be available exclusively to users who have recently regained access to bitcoin buying.
We deeply appreciate your ongoing support and loyalty as part of the Fold community. If you have any questions or concerns, please consult our FAQ or reach out to our customer support team.
The Fold Team
