Hey there, fellow crypto enthusiasts! Today, I'm thrilled to share the groundbreaking news about the launch of the very first Bitcoin-only credit card, brought to you by Fold in collaboration with Stripe and Visa. This innovative move is set to revolutionize how you accumulate Bitcoin effortlessly. Excited? Let's dive in!
Introducing the 'Bitcoin-only' Rewards Card
Picture this: a credit card that rewards you with up to 3.5% back in Bitcoin on every purchase. Yes, you heard it right! With a straightforward 2% back instantly and an extra 1.5% for those who clear their balance through a Fold Checking Account, this card is designed to simplify your Bitcoin earnings.
Unlocking Exciting Rewards
- Earn up to 10% back at major retail giants like Amazon, Target, and Starbucks through the Fold rewards network.
- No more juggling tokens or complex exchange accounts – it's all about being 'Bitcoin-only, simple, and transparent.'
Back in February of 2025, Fold teased us with the upcoming launch, and now, the reality is here. Imagine earning Bitcoin passively while doing your routine shopping, without the hassle of dealing with exchanges or private keys. It's like earning rewards effortlessly, paving the way for widespread Bitcoin adoption.
Embracing Simplicity and Accessibility
As Will Reeves, the CEO of Fold, rightly puts it, "Our credit card offers clear and compelling value and makes Bitcoin easily accessible to everyone." Whether you're new to Bitcoin or a seasoned investor, this card is tailored to meet your needs, offering simplicity and control like never before.
With Stripe and Visa onboard, Fold's journey to integrate Bitcoin into mainstream finance has reached new heights. The potential of stacking Bitcoin through everyday purchases might just be the game-changer we've been waiting for in the world of crypto.
Looking Ahead: A Future of Bitcoin Adoption
Industry experts share the optimism surrounding Fold's new venture. Stripe's Sateesh Kumar Srinivasan highlights the simplicity of their consumer Issuing product, while Visa's Cuy Sheffield sees this launch as part of a broader trend towards making Bitcoin rewards more accessible to the masses.
Imagine a future where earning and saving Bitcoin becomes as routine as your daily errands. Fold's Bitcoin-only credit card might just be the stepping stone to that future. So, are you ready to embark on this exciting journey with us?
Remember, the post "Fold Taps Stripe and Visa in Launch of First Bitcoin-Only Credit Card" first appeared on Bitcoin Magazine. Stay tuned for more updates and insights!
Frequently Asked Questions
Should you open a Precious Metal IRA
You should be aware that precious metals cannot be covered by insurance. You cannot recover any money you have invested. This includes investments that have been damaged by fire, flooding, theft, and so on.
It is best to invest in physical gold coins and silver coins to avoid this type loss. These coins have been around for thousands and represent a real asset that can never be lost. They are likely to fetch more today than the price you paid for them in their original form.
Consider a reputable business that offers low rates and good products when opening an IRA. You should also consider using a third party custodian to protect your assets and give you access at any time.
When you open an account, keep in mind that you won't receive any returns until your retirement. Do not forget about the future!
Can I buy gold using my self-directed IRA
Your self-directed IRA can be used to purchase gold, but first you need to open an account with a brokerage firm such as TD Ameritrade. You can also transfer funds from an existing retirement fund.
The IRS allows individuals to contribute as high as $5,500 ($6,500 if they are married and jointly) to a traditional IRA. Individuals can contribute up $1,000 per annum ($2,000 if they are married and jointly) directly to a Roth IRA.
If you do decide that you want to invest, it is a good idea to buy physical bullion and not in futures. Futures contracts are financial instruments based on the price of gold. They let you speculate on future price without having to own the metal. But, physical bullion is real bars of gold or silver that you can hold in one's hand.
Is gold a good IRA investment?
For anyone who wants to save some money, gold can be a good investment. It's also a great way to diversify your portfolio. There's more to gold that meets the eye.
It has been used as a currency throughout history and is still a popular method of payment. It is often called “the oldest currency in the world.”
But unlike paper currencies, which governments create, gold is mined out of the earth. It is very valuable, as it is rare and hard to create.
The supply-demand relationship determines the gold price. People tend to spend more when the economy is healthy, which means that fewer people are able to mine gold. As a result, the value of gold goes up.
On the flipside, people may save cash rather than spend it when the economy slows. This results in more gold being produced, which drives down its value.
This is why gold investment makes sense for both individuals and businesses. If you make an investment in gold, you can reap the economic benefits whenever the economy is growing.
Also, your investments will earn you interest which can help increase your wealth. You won't lose your money if gold prices drop.
What are the pros and disadvantages of a gold IRA
An Individual Retirement Account is a more beneficial option than regular savings accounts. You don't pay taxes on any interest earned. An IRA is a good choice for those who want a way to save some money but don’t want the tax. But, this type of investment comes with its own set of disadvantages.
To give an example, if your IRA is withdrawn too often, you can lose all your accumulated funds. The IRS may prohibit you from withdrawing funds from your IRA before you are 59 1/2 years of age. If you do decide to withdraw funds from your IRA, you'll likely need to pay a penalty fee.
Another problem is the cost of managing your IRA. Most banks charge 0.5% to 2.0% per annum. Other providers charge monthly management charges ranging anywhere from $10 to $50.
Insurance will be required if you would like to keep your cash out of banks. Insurance companies will usually require that you have at least $500,000. Some insurers may require you to have insurance that covers losses up $500,000.
You will need to decide how much gold you wish to use if you opt for a gold IRA. Some providers limit the number of ounces of gold that you can own. Some providers allow you to choose your weight.
You'll also need to decide whether to buy physical gold or futures contracts. Physical gold is more costly than gold futures. Futures contracts allow you to buy gold with more flexibility. Futures contracts allow you to create a contract with a specified expiration date.
You will also have to decide which type of insurance coverage is best for you. The standard policy doesn’t provide theft protection or loss due fire, flood, or earthquake. It does offer coverage for natural disasters. You may consider adding additional coverage if you live in an area at high risk.
Apart from insurance, you should consider the costs of storing your precious metals. Insurance won't cover storage costs. In addition, most banks charge around $25-$40 per month for safekeeping.
A qualified custodian is required to help you open a Gold IRA. A custodian keeps track of your investments and ensures that you comply with federal regulations. Custodians aren't allowed to sell your assets. Instead, they must hold them as long as you request.
Once you have chosen the right type of IRA to suit your needs, it is time to fill out paperwork defining your goals. You must include information about what investments you would like to make (e.g. stocks, bonds and mutual funds). The plan should also include information about how much you are willing to invest each month.
Once you have completed the forms, you will need to mail them to your provider with a check and a small deposit. Once the company has received your application, they will review it and send you a confirmation email.
You should consult a financial planner before opening a Gold IRA. Financial planners are experts in investing and will help you decide which type of IRA works best for your situation. They can also help you lower your expenses by finding cheaper alternatives to purchasing insurance.
What are the advantages of a gold IRA
An Individual Retirement Account (IRA) is the best way to put money towards retirement. It's not subject to tax until you withdraw it. You have total control over how much each year you take out. There are many types of IRAs. Some are more suitable for students who wish to save money for college. Some are for investors who seek higher returns. Roth IRAs, for example, allow people to contribute after they turn 59 1/2. They also pay taxes on any earnings when they retire. The earnings earned after they withdraw the funds aren't subject to any tax. This type account may make sense if it is your intention to retire early.
Because you can invest money in many asset classes, a gold IRA works similarly to other IRAs. Unlike a regular IRA, you don't have to worry about paying taxes on your gains while you wait to access them. People who want to invest their money rather than spend it make gold IRA accounts a great option.
Another advantage to owning gold via an IRA is the ease of automatic withdraws. This means that you don't need to worry about making monthly deposits. Direct debits could be set up to ensure you don't miss a single payment.
Gold is one of today's most safest investments. Because it's not tied to any particular country, its value tends to remain steady. Even in times of economic turmoil gold prices tend to remain stable. As a result, it's often considered a good choice when protecting your savings from inflation.
How Much of Your IRA Should Be Made Up Of Precious Metals
You should remember that precious metals are not only for the wealthy. You don't need to be rich to make an investment in precious metals. There are many ways to make money on silver and gold investments without spending too much.
You may consider buying physical coins such as bullion bars or rounds. It is possible to also purchase shares in companies that make precious metals. You may also be interested in an IRA transfer program offered by your retirement provider.
You will still reap the benefits of owning precious metals, regardless of which option you choose. Even though they aren't stocks, they still offer the possibility of long-term growth.
Their prices are more volatile than traditional investments. This means that if you decide on selling your investment later, you'll likely get more profit than you would with traditional investing.
What's the advantage of a Gold IRA?
There are many advantages to a gold IRA. It can be used to diversify portfolios and is an investment vehicle. You decide how much money is put in each account and when it is withdrawn.
You have the option of rolling over funds from other retirement account into a gold IRA. This will allow you to transition easily if it is your decision to retire early.
The best part about gold IRAs? You don't have to be an expert. They are readily available at most banks and brokerages. You do not need to worry about fees and penalties when you withdraw money.
There are also drawbacks. Gold is known for being volatile in the past. So it's essential to understand why you're investing in gold. Do you want safety or growth? Are you looking for growth or insurance? Only once you know, that will you be able to make an informed decision.
If you plan on keeping your gold IRA alive for a while, you may want to consider purchasing more than 1 ounce of pure gold. A single ounce isn't enough to cover all of your needs. You may need several ounces, depending on what you intend to do with your precious gold.
You don’t necessarily need a lot if you’re looking to sell your gold. You can even manage with one ounce. However, you will not be able buy any other items with those funds.
Statistics
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear in 1990 – WSJ
- Want to Keep Gold in Your IRA at Home? It's not legal – WSJ
cftc.gov
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
irs.gov
How To
3 Ways to Invest in Gold for Retirement
It's crucial to understand where gold fits in your retirement strategy. You can invest in gold through your 401(k), if you have one at work. You may also be interested in investing in gold beyond your workplace. One example is opening a custodial accounts at Fidelity Investments if an IRA (Individual Retirement Account), if you already own one. Or, if you don't already own any precious metals, you may want to consider buying them directly from a reputable dealer.
These are three simple rules to help you make an investment in gold.
- You can buy gold with your cash – No need to use credit cards or borrow money for investment financing. Instead, put cash into your accounts. This will help protect you against inflation and keep your purchasing power high.
- Physical Gold Coins: You should own physical gold coins, not just a certificate. The reason for this is that physical gold coins are much more easily sold than certificates. You don't have to store physical gold coins.
- Diversify Your Portfolio. Never place all your eggs in the same basket. Also, diversify your wealth and invest in different assets. This will reduce your risk and give you more flexibility in times of market volatility.
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By: Micah Zimmerman
Title: Unveiling the First Bitcoin-Only Credit Card with Fold, Stripe, and Visa!
Sourced From: bitcoinmagazine.com/news/fold-taps-stripe-and-visa-in-launch-of-first-bitcoin-only-credit-card
Published Date: Tue, 23 Sep 2025 13:27:20 +0000
