According to an official announcement, the Fold app – a shopping platform that with support for the Bitcoin Lightning Network and allows users withdraw funds in Bitcoin – has just successfully raised $2.5 million. The announcement also contains details of an option that allows customers make Bitcoin payments.
Per the post, Will Reeves – editor at Fold – reveals that through the app, customers may now begin to spend both Bitcoin and fiat, with a few supported retailers, whether online or physically. The announcement further states that users are eligible to receive up to 20% cashback, if certain conditions are met.
The app, which is available on both the iOS and Android platforms, will now allow users to spend on platforms including Starbucks, Uber, Hotels.com and Amazon, among others. The post also mentions that data security as well as privacy, are paramount for the company. It reads:
“We combine Bitcoin, lightning network, prepaid cards and other privacy features to ensure your personal information, payment details and transaction data is kept private – safe from advertisers and attackers alike. We’re a payment gateway with rewards instead of fees and a rewards program with privacy instead of surveillance. “
This is another commendable move in the drive for crypto adoption, which will almost be guaranteed if traditional firms are a lot more open to receiving crypto.
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