29 Mar 2015
We’re proud to announce that Fold has opted to go “native” bitcoin. With the help of our friends at Chain, we support refunds directly to any bitcoin address.
What does this mean?
Entering an email address for refunds is now optional. Just enter a bitcoin address. If you haven’t, we’ll remind you when you tap “refund”.
If Coinbase is your primary wallet, don’t worry — it’s easy to find your receiving address and add it to the app. If you use another wallet, you’re probably already familiar with finding your receiving address. If not, we’re happy to help.
Why the change?
In the past, we’ve processed refunds via Coinbase’s off-blockchain transactions. It was an easy option — refunds aren’t straightforward in bitcoin, and many people use Coinbase.
But there have been problems. Not everyone is a fan of Coinbase. There were a number of reliability issues with the API. And we didn’t love relying on a third party to handle funds.
Chain gives us a faster, more secure API backed by a solid team — and we maintain control of our bitcoin. We’re excited to bring you a better payment experience together.
Moving forward
Now that Fold has a new foundation, we’ll be moving faster. We’re announcing more improvements soon. Until then — treat yourself to a coffee, courtesy of bitcoin!
Originally published at foldapp.com on March 29, 2015.
