Examined Sep 25, 2026 Paid in bitcoin First card purchase required Fold's homepage says $10 in sats. Its binding terms still let the app decide.
The governing document is Fold's Spin Squad Terms and Conditions, last updated May 28, 2026. It describes the reward as “a Sign-Up Bonus, in the amount communicated in the Fold App or by Fold at the time of enrollment,” and adds that the amount “may change from time to time.”
- Fold's homepage, signing up through its website$10
- Fold's referral help article, edited Aug 12, 2026$10
- Fold's Spin Squads FAQ, edited Aug 12, 2026$20
None of these is the binding terms, which decline to name an amount and tie it to whatever the app shows you at enrollment.
What pays what
| New user, signs up through a personal link and makes a qualifying transaction | The bonus shown in the app |
|---|---|
| New user, signs up through Fold's own website and makes a first Fold Card purchase | $10 in sats, per the homepage |
| Anyone registered with Fold under any email or alias in the past 12 months | Not eligible |
| Anyone not a US citizen or lawful permanent resident living in the 50 states or DC | Not eligible |
| Anyone without a US Social Security number (ITINs are refused) | Not eligible |
| Withdrawing before your Rewards balance reaches 30,000 sats | Not possible |
Sats, short for satoshis, are the small units bitcoin divides into. There are 100 million of them in one bitcoin, so 30,000 sats is 0.0003 BTC, and its dollar value moves with the market. That is why Fold writes the floor in sats.
Do this, in this order
- Sign up through Fold's own website, or a friend's personal link. Fold's homepage offers $10 in sats to new users who sign up through the website, which carries Fold's own code, so you do not need a stranger's link. A friend's link also works, and Fold attributes the referral to whichever link you actually clicked, not the first one you were sent.
- Read the number in the app before you enroll, not after. The terms tie the amount to what Fold communicates at the time of enrollment. That is the figure you are agreeing to.
- Check the 12-month cooling-off rule applies to you. The bonus requires a new user who “was not registered with the Fold App or any Fold-issued card under any email address or alias at any time within the preceding 12 months.” A lapsed account under an old email disqualifies you.
- Make a qualifying transaction, and confirm the current minimum. Fold defines this broadly: “any transaction made by the Referred User through the Fold App or using a Fold-issued card, including, without limitation, a bitcoin purchase, a gift card purchase, or a debit or credit card transaction.” Fold sets the minimum and may change it. Its referral help article puts the bar at $25 while the homepage names no minimum, so confirm it in the app.
- Do not stack it with another offer. The terms say referral rewards “may not be combined with any other monetary offer unless expressly permitted by Fold.”
- Understand the 30,000 sat floor. Rewards land in a Fold Rewards Account, and Fold's main terms require that account to “maintain a minimum accrued balance of at least thirty thousand (30,000) sats” before you can withdraw. A small sign-up bonus on its own may sit under that line. Every reward is also “deemed pending for a period of thirty (30) days after the Qualifying Event.” Fold's Spin Squads FAQ says squad rewards “are available for immediate withdrawal”; the binding terms say otherwise, and the terms win.
- Do not close the account, and do not go quiet. Closing the Rewards Account means you “irrevocably forfeit all rights, title, and interest to the remaining Rewards.” If the account stops being active, Fold “may begin to reduce your Rewards Account balance by 0.01 BTC per month.”
The fine print that can still cost you the reward
Your account is not the only one that has to be in good standing. The terms require both accounts involved in the referral to remain in good standing under the Fold Terms at the time the reward is granted, so a referral tied to a flagged account can cost you the bonus too. A refund can also undo it: Fold's terms say rewards “are subject to adjustment in the result of chargebacks, returns, refunds, or other determinations that the Rewards do not comply with these Terms.”
One person, one account, and no broadcasting links. Fold bans self-referrals, multiple accounts created to generate rewards, and any attempt to “spam, bulk-distribute, or otherwise inappropriately broadcast a Personal Link,” and lists fraudulent referrals as abuse that triggers rescission of everything accrued. Be wary of a Fold link posted publicly on a coupon site.
There is a ceiling on the account, and a hard geography. A Fold Rewards Account “may not have an excess of Ten Thousand Dollars USD ($10,000) of value.” Fold's services are for people 18 or older who are “United States citizens or lawful permanent residents of the United States,” live in the 50 states or DC, and have “a valid U.S. Social Security number.” The terms add: “Individual Taxpayer Identification Numbers (ITINs) are not accepted.” The program is “void where prohibited.”
Fold can end the whole thing whenever it likes. No end date is published. Fold “reserves the right to modify, suspend, or terminate the Program... at any time and for any reason, in its sole discretion.”
The legal footer link is broken. The link on Fold's own legal footer labeled “Terms of Spin Squad Referral Program” returns a 404, and the old referral-terms address now serves Fold's general terms. The real Spin Squad terms sit at a third address, which the body of Fold's terms does link correctly, and which is linked at the bottom of this page.
Is it worth your time?
If you want a debit card that pays you in bitcoin and you will genuinely spend on it, the sign-up bonus is a fine reason to start through Fold's website or a friend's link. If you are here purely to collect a number, this is a thin offer: $10 in sats that you cannot withdraw until your balance clears 30,000 sats, with the app free to show a different figure. Sign up for the card if you want the card, and check what the app offers you on the way in.
If you go on to refer friends yourself, Fold's “Squad Earnings” pay “generally between 1 and 50 sats per qualifying transaction” on what they spend, but only “during the twelve (12) months following that Referred User's enrollment.” Fold reset the clock on June 1, 2026 for everyone enrolled before that date, so every pre-June-2026 squad stops earning on June 1, 2027.
