Fold Card Review: Is the Spin Plus Membership Worth $100 a Year for Bitcoin Rewards?

Fold has quietly paid out over $75 million in Bitcoin rewards to its 600,000 users. That's a staggering number for a company most people outside Bitcoin circles have never heard of. The question for anyone considering the platform is simple: does paying $100 a year for Fold+ (formerly called Spin Plus) actually make sense?

The answer depends entirely on how you spend money and whether you're genuinely interested in accumulating Bitcoin passively. Let's break it down.

What Fold+ Actually Gets You

The free Fold Card offers a gamified rewards experience where you "spin" for Bitcoin cashback ranging from modest amounts up to 25% on purchases. It's fun, but unpredictable. Spins expire every 3 days if you don't use them, and the average rewards tend to be small.

Fold+ changes the math considerably. For $100 annually (or $10 monthly), you get:

• Guaranteed 0.5% to 1.5% Bitcoin cashback on every purchase run as a Signature transaction
• Category boosts reaching 1.5% to 5% at specific retailers
• Up to 20% back at major merchants like Amazon, Target, and Home Depot
• Spin expiration extended to 7 days
• Access to larger spin prizes, including the theoretical (if unlikely) 1 full Bitcoin jackpot
• Gift card promotions occasionally reaching 100% back in Bitcoin

The gift card angle deserves attention. If you regularly buy gift cards for retailers you'd shop at anyway, the enhanced Fold+ rates can recoup the membership cost within a few purchases. This is where the value proposition becomes concrete rather than theoretical.

The New Credit Card Changes the Calculation

Fold launched a Bitcoin rewards credit card in late 2025, with full rollout expected by February 2026. Here's what matters: the card has no annual fee and offers 2% flat Bitcoin rewards for all cardholders, regardless of membership status.

For Fold+ subscribers, the credit card adds up to $250 in activity-based bonuses. Perhaps more significantly, Fold+ members with a Fold Checking Account earn an additional 1.5% back when paying their credit card balance from that account.

Stack those together and you're looking at effective rewards rates that compete with, or beat, most traditional cashback cards. Rewards never expire, and you can withdraw to a hardware wallet, keep funds in insured custody, or convert to cash or gift cards.

The Honest Tradeoffs

Fold+ isn't for everyone. If you spend less than $10,000 annually on the card, the math gets questionable. At 1% average cashback, you'd earn $100 in Bitcoin, merely breaking even on the membership cost. You need either higher spending volume or strategic use of category boosts and gift cards to come out ahead.

There's also the volatility factor. Your rewards are denominated in Bitcoin, which means their dollar value fluctuates. This is either a feature or a bug depending on your perspective. If you're bullish on Bitcoin long-term, accumulating sats at a discount feels smart. If you need predictable value, traditional cashback might suit you better.

The gamification element (spinning for rewards) can feel gimmicky. Some users love it; others find it annoying. The guaranteed cashback rates for Fold+ members reduce reliance on luck, but the spin mechanic remains central to the experience.

Who Should Pay for Fold+

Fold+ makes clear sense if you:

• Spend at least $15,000 to $20,000 annually on everyday purchases
• Regularly buy gift cards for retailers like Amazon, Target, or Home Depot
• Want passive Bitcoin accumulation without actively buying on exchanges
• Plan to use both the debit and credit card products together

It's harder to justify if you:

• Have minimal monthly spending
• Prefer immediate, predictable dollar-denominated rewards
• Don't want exposure to Bitcoin price movements

The Bottom Line

Fold has evolved from a novelty Bitcoin rewards app into something approaching a legitimate financial ecosystem. The combination of the debit card, credit card, and checking account creates stacking opportunities that didn't exist a year ago.

For Bitcoin believers who'd rather earn sats through spending than buy on exchanges, Fold+ increasingly looks like a reasonable deal. The $100 annual cost pays for itself with moderate gift card usage alone. Add the credit card's 2% base rate and checking account bonuses, and the value compounds.

Just go in with realistic expectations. You're not getting rich from cashback rewards. You're building a habit of passive Bitcoin accumulation that, over years, might add up to something meaningful. Whether that appeals to you depends on your conviction about where Bitcoin is headed.