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124 sats \ 2 replies \ @Undisciplined 15 May \ on: Fold announces account holders can purchase and redeem Bitcoin Gift Cards bitcoin
I don’t know of people having trouble withdrawing their sats from FOLD, so I think it’s legit.
It’s a nice arbitrage for them. They buy bitcoin at the time of gift card purchase and then sell what will usually be less bitcoin to the gift card recipient.
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0 sats \ 0 replies \ @plebpoet OP 15 May
that makes sense
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0 sats \ 0 replies \ @Undisciplined 15 May
Or, maybe I’m misunderstanding and it’s a set quantity of bitcoin.
In that case, the benefit to Fold is the new customers.
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