Fold’s Innovative Shopping Experience
The Fold app is making waves in the mobile shopping arena by integrating Bitcoin’s Lightning Network, allowing users to seamlessly withdraw funds to external Bitcoin wallets. Recently, Fold raised a whopping $2.5 million to enhance its services, proving yet again that shopping isn’t just for your grandmas anymore!
Dual Currency Advantage
In a glee-inducing announcement on September 25, Fold’s editor, Will Reeves, revealed that users can now spend both fiat currency and Bitcoin. This option allows shoppers to connect their credit cards or Lightning wallets to their accounts. Imagine buying your morning coffee with Bitcoin and getting rewards back—what a time to be alive!
Wallet Partnerships Galore
This dual approach to payments is not just talk. Fold enables users to stack sats (that’s Bitcoin jargon for accumulating satoshis) while shopping at major retailers. Think Amazon, Uber, Starbucks, and Hotels.com. You can now get rewarded for both spending money and cryptically investing in your future!
Investors Getting Involved
Fold isn’t going it alone. The firm has forged partnerships with venture capital shakers like Craft Ventures and Coinshares, bringing in $2.5 million to fuel further development. These investors clearly saw the clear skies ahead for digital currencies, and they’re ready to ride this rocket with Fold.
Competitive Crypto Reward Landscape
Fold isn’t the only player in the crypto rewards game. Earlier this year, Lolli partnered with Safeway and Petco, giving customers 3.5% back in Bitcoin on their groceries. Meanwhile, American Express is working on a rewards platform powered by Hyperledger, inviting merchants to customize offers. Watch out, traditional purchase models—these cryptocurrencies are making a run for your wallets!
The Retail Revolution is Here
Cryptocurrency payments are indeed gathering steam in retail. A survey by Kaspersky Lab revealed that around 13% of over 12,000 respondents from various countries have used cryptocurrency for online purchases. And by early 2020, more than 25,000 sales points in France are expected to accept Bitcoin, proving that digital currency is on track to becoming as commonplace as your grandma’s favorite shopping mall.
