Direct To Bitcoin 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:
- Open the Fold app
- Tap Bitcoin
- Under the heading Grow your stack, tap Direct To bitcoin and set your preferred conversion percentage (from 1% up to 100%).
- Confirm and watch your bitcoin balance increase with each deposit!
If these instructions do not match the options visible in your current version of the Fold app, please follow our standard troubleshooting steps to ensure you are getting the most up-to-date experience in the app!
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.
To edit your conversion percentage, follow these steps:
- Open the Fold app
- Tap Bitcoin
- Under the heading Grow your stack, tap Direct To bitcoin and adjust your preferred conversion percentage accordingly
- Tap the Modify button to confirm -- easy!
If these instructions do not match the options visible in your current version of the Fold app, please follow our standard troubleshooting steps to ensure you are getting the most up-to-date experience in the app!
Which deposits are impacted by Direct To Bitcoin?
Once you enable Direct To Bitcoin, your conversion percentage will apply to all of your deposits going forward until you disable the feature.
To pause or cancel Direct To Bitcoin:
- Open the Fold app
- Tap Bitcoin
- Under the heading Grow your stack, tap Direct To bitcoin
- Tap Turn off Direct to Bitcoin
- Tap the Turn off button to confirm
If these instructions do not match the options visible in your current version of the Fold app, please follow our standard troubleshooting steps to ensure you are getting the most up-to-date experience in the app!
What are the fees?
For Fold+ subscribers, there are no fees on direct to bitcoin purchases within the Fold app.
For basic users, there is a 1% fee to purchase bitcoin through Direct to Bitcoin.
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 the 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 debit account.
If you still have questions, or need further assistance, please email us at support@foldapp.com.
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