We're making referrals and withdrawals easier!

2 min read

Get ready! We’re about to help you stack more referrals, more spins, and make it easier for you to take control of your bitcoin quicker!

What we’re doing:

  • Making withdrawals easier by lowering rewards threshold by 40% (30k sats).
  • Making it easier to onboard your friends and family!
  • Adding Spins to your referral reward!

The Spin Squad Referral Program is changing to dollar-denominated welcome bonuses.*

On 4/1/2025, the Spin Squad Referral Program is moving to dollar-denominated rewards.

What’s changing:

  • Your referral gets $10 of bitcoin with their first Fold Card purchase, and you earn $5 of bitcoin.
  • You and your referral will receive 100 spins each! That’s 100 chances at a full bitcoin or special prizes when the wheel is boosted or sponsored!

What’s not changing:

  • You will still receive 1-50 sats every time they use their Fold Card
  • There’s still no limit to how many friends you can refer

Why is this happening?

  • Improved onboarding: Bitcoiners love earning sats, but friends and family members getting referred to Fold often aren’t there yet. A $10 dollar-denominated welcome bonus is more likely to resonate with new bitcoiners.
  • We’re bullish on Bitcoin: It’s simpler to stick with dollar-denominated rewards than adjust our referral program to bitcoin’s price movements. By doing this, we stay consistent while making rewards easier to understand for everyone.
  • Listening to customer feedback
    • “How can I earn more spins?”: As a thank you for adding your friends and family to the Fold Family, we’re giving you and your referral 100 spins for each!
    • “Make it easier to withdraw”: When we set the 50,000 sats threshold for rewards withdrawal, bitcoin price was ~$10k. As bitcoin price has gone up, it’s taken longer to reach that threshold. We’re lowering it by nearly half so you’re able to take control of your bitcoin quicker.

*Referral bonus is based on when your referral first uses their Fold Balance to make a transaction. If their first transaction happens BEFORE the 4/1/2025, you will receive the current reward. If their first transaction happens ON or AFTER 4/1/2025, you will receive $5 of sats.