The value of cryptocurrencies is constantly fluctuating, but that doesn’t stop people and businesses from using them to conduct money transactions.
Nowadays, you can use Bitcoin – the cryptocurrency that started everything – on Amazon, gambling venues such as the Sloto Cash online casino, and as of late – Airbnb as well.
On November 11th, it was announced that Fold now supports payments to Airbnb, allowing people to book stays while enjoying some extra benefits.
According to ads, Fold users will benefit from a 3% cash-back on every Airbnb booking. Earlier this year, a different Bitcoin mobile app, Bitrefill, began providing $25, $50 and $100 vouchers, which were available to use on the home-renting platform.
Essentially, both Bitcoin payment apps allow users to use the cryptocurrency as a payment option, even though Airbnb doesn’t accept direct BTC payments.
On top of that, the cash-back system used by Fold is designed to convince potential customers to use their services, which seems to be working. Airbnb users still wait for this payment option to appear directly on the Airbnb website, but until then, using Bitcoin payments apps is the way to go.
All You Need to Know About the Fold App
The Fold app became available to the masses back in 2014, which makes it one of the oldest BTC shopping apps on the market. It supports the Lightning Network, which is a secondary payment protocol that exists on top of the blockchain tech.
In July 2019, the platform launched a new project: the Fold Kickbacks program. Major companies besides Airbnb joined the program, including Starbucks, Uber, Amazon, Target, and more.
The program does a very simple thing: it rewards users for paying in BTC when purchasing services or products from major retailers. At this moment in time, the Fold cash-back program is only available in specific countries, including the U.S., UK, Canada, Australia, Ireland, and Mexico – depending on the brand in question.
The project is meant to convince people that cryptocurrencies – and Bitcoin in particular – are a valid payment option. The cash-backs can go up to 20%, depending on the country and the company, which can be quite lucrative for constant users. For example, Fold offers a 5% cash-back for Starbucks enthusiasts, which can turn out to be quite a lucrative deal.
In September 2019, Fold managed to raise money to expand its platform and accept fiat currency. That means that in the future, you won’t necessarily have to pay with BTC while using the app. Instead, you will be able to spend dollars, euros, and other currencies to conduct transactions.
Additional Bitcoin Payment Apps You Can Use
While Fold might be one of the most popular Bitcoin shopping apps available on the market, it is not the only one.
Lolli is another app that offers Bitcoin rewards, and it works in association with more than 500 brands. Apart from that, in Japan, Aelf – a block-chain network provider – is said to be partnering up with a major gift card platform.
European customers also have Bitrefill, a Swedish firm that works in association with Hulu, Amazon, eBay, Netflix, and more.
The appearance of all those Bitcoin shopping apps means that more people will get exposed to the relatively-new payment option, and maybe even start using it.
Airbnb joins other major brands in providing their customers with the ability to pay with BTC. Although those payments aren’t made directly, it is a step in the right direction.
Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.
