In this Fold App Review, I am going to discuss why this free app is a good way to start accumulating free bitcoin and start “stacking sats” as they say. I’m always looking for new ways to start accumulating more bitcoin and finding real world use cases where I can do so, outside fo buying it directly from an exchange.
This is primarily targeted for mobile use (using their iOS and Android app) for using this. If you want to learn about ways to earn free bitcoin while shopping on a desktop computer, then I would check out my full review of Lolli App, HERE.
I am going to touch on some of the basics of how much you can earn with it, how it works, who it’s really designed for, and my overall feelings of if it’s actually worth using. If that is what you’re looking for, then look no further!
Who Is The Fold App Intended For?
If you frequently make purchases with Amazon, Uber, Starbucks, Target, and Sephora (to name a few), then this app is for you. This app allows you purchase discounted gift cards, as well as earn free bitcoin (satoshis) for each purchase that you make. Once the order goes through, it’s credited to your bitcoin wallet within the app almost immediately.
This is designed not only to save you money on what you are already spending, but allows you to earn free bitcoin rewards for doing so. If you’re already spending at these places, why not get free bitcoin for doing it, right?
In the app, you can always see which vendors have offers and they are adding more all the time. Additionally, the discount your receive varies for each vendor. For example, Airbnb will give you 3% cash (bitcoin) back, but L.L. Bean will give you 10% back. The app is constantly updating to offer you the best deals.
How Does The Fold App Work?
This works for both online and physical locations. Since it’s gift card based, once you make a purchase in the app, it will generate a gift card and a bar code on your screen, for the cashier to scan and use directly.
This will also provide a “gift card code” for you to enter at on-line checkout and you can mix and match between buying online and in store as much as you want with no penalties or fees.
I will break it down step by step below on how to set this up and how it works in a few simple steps.
NOTE: You will receive the bitcoin rewards for the amount of gift card purchased, not the actual products you buy with them.
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Load a gift card you buy with Bitcoin on the Fold app, to your account
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Use that gift card at select retailers and restaurants by using the barcode or the number beneath it.
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You can make online purchases with your Fold gift card or you can purchase at physical locations
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At physical locations, all you need is to scan the bar code from the app on your phone at the cash register
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Every purchase you make with the gift cards that you have on your Fold app will credit you with Bitcoin cashback
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The amount of Bitcoin cashback you get on any purchase depends on the individual retailer or restaurant
Is The Fold App Worth Using?
If you are looking to start dipping your toe into cryptocurrency and you’re not quite ready to buy it directly yet, then this is for you! This is a seamless way for you to spend your normal fiat currency and start earning bitcoin back on direct gift card purchases.
This is also good for sending gifts directly, so whether it’s the holidays and you want to send a gift via email (or Twitter) you can earn bitcoin to your wallet for doing so. This can be used for any occasion as well, not just for gifting.
For the avid crypto users, they are also implementing lightning payments this year as well, so you’ll receive even more discounts if you decide to grow the crypto-economy by paying with crypto, instead of using a debit/credit card as well. More on that as it develops…
So, is the Fold App worth using? I would definitely say yes. Especially if you spend frequently at these places anyways and purchases exceed at least 15$ in most cases, then there is no downside here, only upside.
What do you think? Would you use the Fold App for free bitcoin? Let us know down below in the comments!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people accumulate and secure their crypto.
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Bill Fodl Review (2020): Is It Better Than Cryptosteel?
In this review, I am going to deep dive into the Bill Fodl and whether or not you need one, and if you do, is it better than Cryptosteel? So what is Bill Fodl? It’s essentially a backup of your backup. It’s a stainless steel recovery seed backup for your cryptocurrency and your recovery seed words that you most likely have written down on paper.
As you may already know, when you setup a cryptocurrency wallet, you will be asked to write down your recovery seed phrase which is a series of 12, 18, or 24 words. These are given to you as a method to restore the funds in your wallet, in the event you lose access to it digitally or physically. This is primarily is used in conjunction with a hardware wallet.
When I started this site back in 2016, I was mainly focused on hardware wallets as the primary method to safely storing your private keys offline, and these types of devices didn’t exist at that time. As this industry has brought on more innovation, indestructible crypto seed backups were born! I also had a friend who had multiple bitcoins on a hardware wallet, and when he was moving, he realized that his recovery seed was in an open plastic bag that was in proximity to a spilled shampoo bottle.
As you can probably imagine, this didn’t end well. When he went to move and locate his recovery seed, it was useless. The oils of the shampoo had removed the ink he had on his paper backup and it was all but destroyed. This is just one of MANY reasons why you need an indestructible backup of your paper recovery seed card to protect yourself against, well, yourself. It also is designed to withstand the elements such are fire, water, wind, corrosion, and even your dog eating it.
As it’s relevant here, I wanted to point out that on the home page of this website, there is an orange button that will link you to my free e-book that I recently wrote that goes in depth on this topic and provides you the “5 Best Ways To Secure Your Cryptocurrency“. Go check it out, it’s free, and it may even save you from loss in the future. One of our motto’s here is “We help you protect YOUR private keys”. So there you go, let’s get to nitty-gritty of this review on the Bill Fodl!
Bill Fodl: What’s In The Box?
You can store up to 96 characters, allowing you to backup an entire 24 word seed in one unit. Don’t worry if your entire seed is longer than 96 characters; you only need the first 4 letters of each seed word to fully backup your coins. You can read the full setup guide and video from their website HERE.
They also have expansion packs, and multi-wallet packs that you can get as well that will enable you to receive a quantity discount for multiple wallets. I used this option as I have multiple hardware wallets and therefore need this protection.
This Bill Fodl device is really a solid insurance policy on your crypto holdings, that doesn’t require you to trust any 3rd party or custodial solutions. This device is typically used with all models of Trezor, Ledger, and KeepKey. Pretty much any standard BIP39 wallet, and you can also use this for hot or online wallets as a backup as well.
Why Do I Need One?
As I mentioned above in the first paragraph, your recovery seed is typically written down on paper. Most people don’t realize how important these words in succession are as they are writing them down, as this is your only saving grace of recovering any lost cryptocurrency if you lose access to your wallet (Hot or Cold). If you lose these recovery words, you have no one to blame but yourself, and there is no way to recover your funds.
In this new era of “Becoming your own bank“, that also comes with a new responsibility of being a banker that put safeguards in place to protect you in the event of an unforseen event. This is by FAR the best way to ensure that your recovery seed is safe and cannot be destroyed. I recommend that ANYONE that has more cryptocurrency than they can afford to lose, should have one of these. After all, if you lose your hardware wallet AND you lose this, you are completely out of luck and have no one to blame but yourself.
Bill Fodl vs. CryptoSteel
Bill Fodl vs. CryptoSteel. I’ll be honest… these two devices are eerily similar, however, there are some key differences that set that apart. For starters, I noticed that the CryptoSteel has some tiles that are not the exact same shape and size, therefore making it more difficult to setup. There is a small slot for each of your letters to fit in, and even 1/8th of a millimeter difference is noticeable when you’re performing this task, as it takes steady hands and precision.
Secondly, the slats are smoother and the screws are easier to open than the CryptoSteel when it comes to opening it and closing it during the installation process. It’s not a massive difference, but still noticeable. As I said, these are VERY similar, but I am noticing that the quality on the Bill Fodl to be slightly nicer.
Thirdly, Bill Fodl takes lightning payments via bitcoin to purchase, while the CryptoSteel does not. Now, I know that doesn’t matter top most people, but I am very vocal about wanting to support vendors and businesses that accept cryptocurrency as payment. You would think that both of these companies would do this by default, but CryptoSteel only accepts credit cards at the moment.
The one thing I didn’t like about the Bill Fodl, is that the stainless steel gets scratched very easily. This won’t affect the integrity of your tiles or have any affect on the readability of the device in the event of a catastrophe, but it also doesn’t look as sleek and brand new after a handling it after just a handful of times. Lastly, the Bill Fodl is cheaper than the CryptoSteel. Bill Fodl is only $79 for their device and the CrypoSteel charges $99 for the equivalent device. Seems pretty straight-forward to me.
If you want to check out my full review on CryptoSteel, you can check it out HERE.
***CLICK HERE TO BUY BILL FODL FROM THEIR OFFICIAL SITE***
Are There Any Other Premium Options?
As mentioned above, the Bill Fodl and CryptoSteel are very similar devices, with only minute differences. So you may be asking, are there any other options out there? Any other options I should consider? Well, the short answer is, yes. You may have seen some knock-offs of this product on Amazon or eBay, but I strongly recommend you ignore those completely. The wannabe’s found there are not as durable or easy to use as these two (I bought one for comparison and it wasn’t pretty). However, there is a premium version of this product, but is made out of titanium instead and has a much different, (but good) user experience and setup process. Behold, the CryptoTAG!
The CryptoTAG is a high-end device that comes with 2 titanium plates and even comes with a heavy duty hammer to literally pound your seed phrase into these plates, and has been tested thoroughly for quality. In fact, I personally think the quality is MUCH nicer than the Bill Fodl, but not everyone can afford $199 for a recovery seed backup, and ultimately is only differenced by the quality and personal experience you get with personally engraving your seed.
Ultimately, both will get the job done, but if you want the “Ferrari” of recovery seed backups, you check out the CryptoTAG HERE on their official site. I also will be writing a review on this device shortly, so keep your eyes our for it.
https://www.youtube.com/watch?v=FyEqb9Z8leE
Conclusion
So, Is the Bill Fodl better than Cryptosteel? Personally, I would say yes. They have some small differences that makes it better and easier to setup and use. For instance, all of the lettered tiles are all the same size and shape, so installing them into the steel plate makes it much easier for them to slide into place. The overall user experience was easier and I was able to fully set it up in about 20 minutes or so, which isn’t bad at all. It took almost half the time of the CryptoSteel setup.
This device is also the cheapest (legitimate) stainless steel recovery seed backup starting at only $79 and an unprecedented 1-year warranty and a 125% money back guarantee. If you’re getting your first recovery seed backup and you’re on a budget, I would recommend you start here. It’s a quality, durable device and it gets the job done whilst making you feel like a true crypto enthusiast.
I actually have 2 of these, but I also have multiple hardware wallets and have a lot more at risk at stake, but I’m a bit of an extremist. Overall, You can’t go wrong with the Bill Fodl, and if you have more than $79 worth of crypto, then you definitely NEED this to be safe. Don’t be sorry when it comes to your crypto savings.
***CLICK HERE TO BUY BILL FODL FROM THEIR OFFICIAL SITE***
What do you think? Do you have a metal recovery seed backup? If so, which one do you use? Comment down below!
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
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3 Best Cryptocurrency Cold Storage Solutions — Non Custodial
In this article, I am going to give you the 3 best cryptocurrency cold storage solutions. You’ve probably heard this before by your friend or colleague that introduced you to the wonderful world of cryptocurrency: “You need to store your bitcoin offline using cold storage”. So what does that mean exactly? There are many forms of cold storage, but there is considerably more forms of “Hot Wallets” or storage that is convenient and directly tied to an internet connection.
I don’t need to tell that this form of storage is convenient, but is riddled with considerable risk. With a normal bank account, if there is fraud or if someone hacks your account, you have recourse, and in most cases your will not be liable and be fully reimbursed. No harm no foul, right?
That is not the case when it comes to cryptocurrency. It’s about self-sovereignty and full ownership and responsibility of your own finances. With that in mind comes a great deal of responsibility and in this case, responsibility over your own finances and your own bank is a blessing. So what do you need to know? You absolutely, 100% need a cold storage solution for storing your cryptocurrency offline to keep your private keys and recovery seed safe.
I am going to share with you below the 3 best cryptocurrency and bitcoin cold storage solutions, starting with what I consider to be the most secure, all the way down to what is not so secure. However, everything that is offline (generally speaking) is still more secure than keeping your long term holdings on a phone or any other internet connected device.
HERE ARE THE TOP 3 COLD-STORAGE SOLUTIONS FOR STORING YOUR CRYPTOCURRENCY OFFLINE
Be advised that these are considered to be the best practices currently in the industry and most commonly used tried and true methods. There are other ways to go about this, but as they are not properly vetted and not as commonly used, we will not be listing them here.
#1 HARDWARE WALLETS (MOST SECURE)
You can probably tell by now that I am a strong advocate of hardware wallets. I even developed and built one working for a very prominent cryptocurrency company and I have the latest prototype not 2 feet from where I sit now.
I have a lot of first-hand experience in understanding why it is vitally important to own one and use one for any amount of cryptocurrency you don’t plan to spend in the next 24 hours. It has some keen advantages on top of being an “offline” device, which means it cannot be hacked.
- Private keys are generated on and never leave the device, even when it’s connected to the computer. This is crucial because if your private keys are stored in a secure environment and they are never removed from the device, there is no risk of them being exposed to the internet.
- Custom PIN Encryption – This is an extra layer of security that requires the user to set a 4-8 digit custom pin once it’s connected to USB port that is connected to the internet, like a desktop or laptop (or even a mobile phone). Without this PIN, you cannot even gain access to the application to make changes or sign transactions.
- Additional Device Verification – This means that any action you take on the web or desktop application with your mouse or a keystroke, requires authentication on the device itself to ensure there is no key-logging or unauthorized changes. For example, If I want to spend 0.25 BTC on a new snowboard on Amazon (Yes, you can do this with Purse.io), and you initiate that within the web app, it will prompt your to confirm the transaction on the hardware device via physically pressing a mechanical button. This is to ensure no mistakes and no unauthorized transactions occur.
#2 USB DRIVE (NOT AS SECURE)
This option is better than leaving all of your holdings on a hot wallet, but is still not recommended. Why? Because unlike a trusted hardware wallet, it has no security measures. If someone gains access to the unsuspecting USB drive, they will have unfettered access to your precious private keys.
It is not encrypted, it is not protected, and anyone with access to google can crack this if they have physical possession of it. Additionally, I cannot tell you how often these little devices have hardware failures. If you do not have a backup of these keys, your coins will be gone forever if something goes wrong.
#3 PAPER WALLET (EVEN LESS SECURE)
This one is a “Catch 22”. What do I mean by that? Well, I see the value of what it is and I understand why this invention was created. For instance, when I wanted to give my loved ones some bitcoin in their stocking at Christmas, it was (and still is) a great way to introduce bitcoin to the uninitiated and get them excited about this new technology.
A paper wallet is exactly what it sounds like, it’s your bitcoin in paper form. It usually includes a QR code to scan with your phone and import into a hot wallet and contains a written public and private key. This is not secure, but if you are gifting it to someone, or making a trade or transaction offline, it’s a decently good medium, especially if you don’t know or necessarily trust the recipient.
As I mentioned above, if you are unfamiliar with this amazing piece of paper, it exposes everything you need to take control of this bitcoin. It has written out the public bitcoin address and the corresponding private key. If someone dropped this in the wind and I picked it up down the road, it would be like getting a winning lottery ticket (literally). As you can see there are very few recommended uses for this, and even when using this, you need to be very, very careful.
FINAL THOUGHTS
So, 3 best cryptocurrency cold storage solutions? When choosing the best cold storage solution for you, you need to understand what your end game is. What is your purpose and intent when deciding to pull your crypto offline? Most people who learn about the many advantages about cryptocurrency, typically plan to hold it for an extend period of time, whether it be for a long term investment or even everyday spending (like me).
The Bottomline: Unless you are planning to give some bitcoin away as a gift or you are making a one time transaction with a stranger in a dark alley, I STRONGLY recommend you purchase a hardware wallet. One of the most popular ones right now and is widely supported by a wide range of different cryptocurrencies is only $59 at the time of this writing.
Believe me, it won’t be that price for long. Once the next market cycle starts to ramp up, these prices are going to be increasing, and it is a steal considering you are protecting potentially millions or billions of dollars worth of lifetime crypto-assets. The hardware wallet in question here is the Ledger Nano S, and I use this as one of my everyday wallets as well for spending. If you click the “HOME” button at the top, you can see all the different wallets we offer and endorse right now, depending on what features you need and what works best for you.
If you have any questions or comments on this post, please sound off below! I’d love to hear from you! Until next time…
Cheers,
The Crypto Renegade
NOTE: This post may contain affiliate links. This adds no cost to you but it helps me focus on giving as much value as possible in every single post by being compensated for recommending products that help people succeed.
