How to Buy Bitcoin with Direct to Bitcoin

Direct To Bitcoin is an Automation feature that allows you to automatically convert a percentage of your deposits into bitcoin. Whether it’s part of your paycheck or a transfer from another account, you set the percentage once and watch your bitcoin investment grow over time.


How to Enable Direct To Bitcoin

To start using Direct To Bitcoin:

  1. Navigate to the Bitcoin tab.
  2. Select the Automations suite.
  3. Choose Direct To Bitcoin and set your preferred conversion percentage (from 1% up to 100%).
  4. Confirm and watch your bitcoin balance increase with each deposit!


Setting Your Conversion Percentage

Your conversion percentage determines how much of your deposit is automatically converted into bitcoin. Customize this setting to match your financial goals and comfort level.

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Once Direct to Bitcoin has been enabled then the current conversion rate will be visible on the bitcoin tab until the feature is disabled.

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Which Deposits Are Impacted by Direct To Bitcoin?

When you toggle on Direct To Bitcoin then your conversion percentage will apply to all of your deposits going forward until you disable the feature.

What are the fees?

At the time of launch there are no additional fees for users for bitcoin purchased through the Direct to Bitcoin feature, including Spin and Spin+ users.

What are the minimum and maximum amounts?

The minimum amount of bitcoin that can be purchased through Direct to Bitcoin is $10; the maximum amount is 100% of your deposit amount.

If the minimum amount of $10 is not met on the next deposit then no conversion or purchase of bitcoin will occur and 100% of deposit will arrive into your Fold Account as USD.

When Does a Direct To Bitcoin Conversion Actually Occur?

The bitcoin is converted once the initial deposit has settled into your Fold Card.

How to Edit Your Conversion Percentage

To change your existing Direct To Bitcoin setting:

  1. Tap 'Direct To Bitcoin' within your Automations suite.
  2. Tap or input your desired percentage.
  3. Save your new setting to update future conversions.

How to Pause or Cancel Direct To Bitcoin

To pause or cancel Direct To Bitcoin:

  1. Go to 'Direct To Bitcoin' in the Automations suite.
  2. Toggle the feature off and confirm your decision.

What Happens if I Have Insufficient Funds for My Conversion?

If your balance is too low to cover the designated conversion percentage when a deposit arrives, Fold will notify you. The conversion will occur on the next deposit that brings your balance up to a sufficient level.

 

Updated

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