What is a Spot Buy?
A Spot Buy enables you to instantly purchase Bitcoin at the current market price, without waiting for scheduled buys like with Auto-Stack. These single purchases are also called smash buys.
How Do I Make a Spot Buy?
Easily spot buy bitcoin with 6 taps:
- Open the Fold app
- Tap Bitcoin
- Tap the Buy button
- Tap the amount of bitcoin you want to buy, or tap the "..." button to input a custom amount
- Tap the Next button
- Tap the Confirm buy button
Note: you must have funds in your Fold Card account in order to purchase bitcoin. See all ways to fund your Fold Card here: How do I add money to my Fold Prepaid Debit Card?
Fees and Spread for Spot Buying Bitcoin
Fees
For Reserve users, there are no fees on direct bitcoin purchases within the Fold app, only a partner spread. Please note: this does not apply to Fold Bitcoin Gift Card redemptions.
Non-Reserve users pay a 1% fee + Fold spread + partner spread* (~0.10%) when buying bitcoin on Fold.
Spread
A "spread" is a small markup built into the bitcoin price. The partner spread is applied across the board, but the Fold spread is waived at Tier 1 of Reserve. For full fees and spread details, please see: Fees for buying & withdrawing bitcoin on Fold
Withdrawing Bitcoin Bought Through Spot Buys
On the withdrawal page, you have the option to scan a QR code to your destination wallet to make your withdrawal easier and more secure.
For full withdrawal steps, see Withdrawing bitcoin bought on Fold.
For full terms and conditions, please see here.
*All rewards earned and bitcoin purchases are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protection.
If you still have questions, or need further assistance, please email us at support@foldapp.com.
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