Yes, you can withdraw the BTC you earn in Fold to a personal Bitcoin wallet. Currently we only process withdrawals to on-chain wallets (such as Coinbase and others), and we accept native Segwit addresses. There are no fees currently charged for withdrawals.
Please note that rewards withdrawals are processed once per week, on Tuesdays, and you need a minimum of 30,000 sat rewards to withdraw.
How do I withdraw sat rewards on Fold?
You can withdraw your Finalized sat rewards to a third-party Bitcoin wallet at any time. In fact, we encourage you to do so. Here’s how:
- Navigate to the Rewards tab in the Fold app by tapping the trophy icon in the nav bar.
- Tap "Send".
- Paste, type, or scan the QR code of your personal wallet address into the field. Tap "Next". (What is a Bitcoin address?)
- You will see a summary of your withdrawal. If all looks good, tap "Confirm Withdrawal".
- You will be prompted to enter an SMS 2FA code sent to the phone number on your account.
- You’re done! Wait for the transaction to process. *Please note that rewards withdrawals are processed once per week, on Tuesdays.
What fees do I pay when I withdraw?
When you make a sat rewards withdrawal, there is no network fee. We currently keep this feature fee-free by processing all rewards withdrawals once per week on Tuesdays.
When can I withdraw my sat rewards?
You can withdraw your sat rewards once they have moved to a Finalized status.
Fold currently holds some rewards for 30 days to account for things like returns, refunds and chargebacks. After that time, they become available for withdrawal. That is why you may see a difference between your earned (Pending or Locked rewards) and available balance (Finalized rewards).
All rewards currently pending should be available within the next ~30 days. Keep in mind that is 30 days from the date the transaction is settled by the merchant, not necessarily the day the transaction took place.
How many sats can I withdraw?
You must have a minimum of 30,000 sat rewards before you can withdraw, and you will only be able to withdraw your entire Available Balance. This is your bitcoin; take custody of it.
How long does it take for my withdrawal to process?
Generally, withdrawals should be processed sometime on Tuesday, and you should see your sat rewards in your external bitcoin wallet by Wednesday morning. Things like demand and network congestion can impact how long it takes the bitcoin to reach your wallet. If you did not receive your deposit on Wednesday, please reach out to our support team at support@foldapp.com for further assistance.
How do I check the status of this transaction?
You can see all transactions, including withdrawals, in your Rewards History. You can also view the transaction on Block Explorer for more detailed tracking.
For information on purchased bitcoin withdrawals from Fold, click here.
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