TL;DR:
In an effort to add redundancy for all accounts, improve custody, add new bitcoin services, give additional states access, and offer more competitive trading structures, Fold is embarking on an exciting partnership with BitGo. Today, we’re giving some of our customers access to our upgraded bitcoin custody and personal finance experience.
Overview
Fold is building the best bitcoin personal finance experience. Our new partnership with BitGo is a significant step toward offering you the currency you prefer with the banking features you need, all while offering added redundancy to improve custody. This initiative is the first in a trio of upgrades designed to provide you with a comprehensive cash and bitcoin platform. Soon, Fold users will be able to deposit bitcoin and enjoy custom withdrawal options—essential features of a modern bitcoin account.
“We’re excited to partner with Fold to get bitcoin buying back in Texas and elsewhere for Fold users, looking forward to more combined efforts with the Fold team.” - Mike Belshe, CEO BitGo
We have completely revamped our bitcoin custody and trading infrastructure by adding an additional partner to the lineup, as we’re committed to becoming the best place to manage your personal finances as bitcoiners. Here’s what you can expect from Fold:
- Faster onboarding and support.
- Support in more states (Welcome Texas!)
- Institutional grade cold storage custody.
- Up to $250M Digital Asset Insurance Coverage against Loss, Theft, and Misuse
- Faster and cheaper trades and settlement.
- Path to lightning, liquid and other layer 2 support.
- ACH & Wire Funding.
What is changing
Today the follow changes go into effect:
- Texas users now have access to bitcoin buying!
- Round-ups will now trigger when $10 is reached for all users.
- For users getting access to this new experience, minimum buys on Fold will increase to $10 (currently $5).
- Auto-Stacks will need to be a minimum of $10.
- Direct To Bitcoin transactions will need to be a minimum of $10.
For more information, explore our FAQ here.
What you need to do
Users who are the first to gain access to this new experience will be notified via email. Those users will need to:
- Accept the new terms within the app to avoid any interruptions in your bitcoin buying experience.
- Adjust any existing Auto-Stacks set below $10 to the new minimum, or they will be canceled.
If you don’t receive an email with access to this new experience, then at this time nothing changes for you. You can continue to use our bitcoin buying features as normal. This is a slow roll-out, so please be patient while we work our way through everyone.
We deeply appreciate your ongoing support and loyalty as part of the Fold community. If you have any questions or concerns, please reach out to our customer support team. For more information, explore our FAQ here.
The Fold Team
*The Fold Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A.. Inc. Visa is a registered trademark of Visa, U.S.A., Inc. All other trademarks and service marks belong to their respective owners. Fold is a financial services platform and not a FDIC insured bank. If you have a Fold Card, accounts are subject to pass-through FDIC insurance up to $250,000 per ownership category, should Sutton Bank fail. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. Coverage limit is subject to aggregation of that account holder's funds held at Sutton Bank. Reward Accounts and bitcoin are not FDIC or SIPC insured. Bitcoin involves certain risks and may lose value. BitGo and Fortress Trust provide Bitcoin services. See BitGo Terms of Use here, and Fortress Terms of Use here. Fold, Inc. 11201 N Tatum Blvd Ste 300, #42035, Phoenix, AZ 85028-60399 **For more information on how ACH bill payment rewards works and what qualifies, please visit our support page.
