Fold, the leading bitcoin payments app announced on November 11 that it will now support Airbnb, a home-sharing giant company. As a result of this partnership, Fold users will receive a 3% cashback in Bitcoin currency on every booking and stay.
Wondering what are we talking about? Let’s get down to details.
What is the Fold app?
Fold is one of the major and primary organizations to bring the bitcoin currency (BTC) in use in the real world and actually allow users to use it as a currency and not just an asset.
This application allows users to transfer their bitcoins to external wallets and use them for making everyday payments say pay for Uber, groceries, and whatnot.
How does Fold work?
Users are able to make payments by transferring BTC from their Bitcoin wallet into a digital gift card on the mobile. Once this process is done successfully, users are able to find their gift card barcode for any brand under the “My Cards” tab in the Fold account.
Now, you can choose your brand-specific gift card and scan the barcode in the store at the register to make the payment with your BTC
Fold also got into the Lightning Network in July to make payments possible on some big retailers like Amazon. This was the missing link in making bitcoin payments easier than ever across many retail platforms.
Moreover, after raising a hefty amount of $2.5 million from partnered investors like Craft Ventures, Goldcrest Capital, Slow Ventures, Fold expanded its platform to a fiat currency payment option. This way the users are able to spend both currencies to pay online or in retail stores by syncing their credit cards or Lightning wallet.
Another thing that Fold is renowned for is its Fold Kickbacks program, launched recently in July 2019. This program allows users to gain upto 20% cashback in bitcoin on their purchases from all the partner retailers of Fold company.
In fact, Fold also introduced Lightning Pizza where users could pay for their Domino’s pizza from anywhere in the US over the lightning network.
Fold has also partnered with some other market-giants besides Amazon such as Target, Uber, Starbucks, AMC, Burger King, T.J. Maxx, under its Fold Kickbacks program. Unlike the pre-Fold era, users are provided with a plethora of options to spend their bitcoin money.
The Fold app is currently available in numbered countries like the United States, Australia, Canada, Mexico, Ireland, and the United Kingdom, though it has plans of expanding to Europe in the coming future.
And now, Airbnb has also fixed a place in the Fold Kickbacks program. With this, users will not only get the 3% cashback, but they can also get their hands on Airbnb gift cards for $25 and $100.
With this app making so many headlines and enjoying the exponential growth, many businesses are inspired to try Blockchain app development for themselves and enjoy the opportunities Fold is experiencing at the moment.