Bitcoin Forum

Wow!, did you see this?  Looks like Americans are going to be able to get a Visa card backed by their bitcoin at Coinbase.  I think this will be using Bitcoin very convenient.  I am going to get one right away.  

Let's hear your comments on how you will use your Shift Bitcoin Visa Card.

https://blog.coinbase.com/2015/11/20/introducing-the-shift-card/ (https://blog.coinbase.com/2015/11/20/introducing-the-shift-card/)

Will not use.  Too many fees.  Coinbase needs to get with the program.  US customers are use to free credit cards and debit cards.

No fees.  It is free.  Zero.  Per transaction fee = $0.00.  Can't get closer to zero than that.  

However, it might be argued they are getting somewhat cheeky with intellectual property.  Don't you think this is a little too close to "Taylor Swift"s card?  I wonder if she really endorses Bitcoin? - the implication is there.

https://i.imgur.com/0EcHma3.png

It says in the future they may pass on conversion fees to customers.  Bait and switch.

On that day, you can say 'too many fees'.  Then cut up your card.  But for now, NO transaction fee.  Pretty good eh?

Saw this in a similar topic in the press section : COINBASE JUST DEBUTED THE FIRST BITCOIN DEBIT CARD IN THE US https://bitcointalk.org/index.php?topic=1256350.0 (https://bitcointalk.org/index.php?topic=1256350.0)

Well good news for sure but it is still limited to few states + limited daily usage (200$ ATM):


No annual fees is a good point.
More info: https://www.shiftpayments.com/faq (https://www.shiftpayments.com/faq)

only europe does not get this :( but will get there atm nothing too good here

I read cash limit was $750 at ATM plus $750 more at POS with $10,000 single day purchases limit.  Quite generous if you ask me.  I don't spend more than $10,000 most days.

Well i found this on the FAQ:

Currently, the daily limit is $1,000 USD. Feel free to contact support@shiftpayments.com if you would like to increase your daily spending limit.
If you're spending from your Dwolla account, there is a daily ATM withdrawal limit of $500.
If you're spending from your Coinbase account, there is a daily ATM withdrawal limit of $200.

They need to roll this out in the UK, i would definitely order one.

Of course Minnesota doesn't allow this.  Grrr I am getting frustrated with our state they need to just openly accept new things and stop trying to bring me down!

If there really are no hidden fees I'd like one as it's the first card I have heard of with no fees. However I want to read the small print first, there always seem to be hidden fees even when a bitcoin debit card says there's not. Do they charge fees to convert between bitcoin and fiat, do they decide the conversion rate you get?

Very nice to use Bitcoin like that. But how do they make money with this?

U didnt saw good. There isnt fees for now. Now its totaly free and who knows how will it be in future. I like this thing, U.S. is first like always, Europe will come later and I, here in Serbia can expect this to come here for 10 years approximately. Until then they will have big fees and who knows what else. Anyway its good thing for bitcoin, any commercial like this is good and maybe this will attract more people.

This may pretty much happen in the future. But for now, free is free so better to grab it before it ends. There had been a lot of debit cards recently but this one is the best SO FAR. It starts a nice competition on debit cards that imposes high fees.

This is interesting. It is one of the few cards that will actually work in the US! Also, it is unlike other "debit cards" in that instead of funding the card with a prepaid amount, it actually deducts the Bitcoin from your account at the market rate, like Bit-x. And there are no fees for now. I wonder how long that will last.

Yes, this is a remarkable new feature.  Prepaid is ridiculous.  I like to hold the bitcoin - until I spend it.  Once the charges come in, then exchange bitcoin from the account.  This is really great.  Finally, someone understands how it should work.  It's about time, I feel we've needed this for a long time.

We have had Bit-X for a while and another company (ANXBTC I think) that provided actual debit card service by deducting the amount from your account balance and converting it to the currency on the spot. However, those two have relatively high fees while Shift has low fees comparatively.

Not true.  They just did another $100 prepay when your account got low.  Totally different.

For asian countries i haven't found any card provider. I have contacted ecoin before but get no to my country. And this one also seems to provide card only for USA. We keep on talking bitcoin being global currency but bitcoin card provider are only focusing on us and europe markets.

This is a very good development as I think we need more competition in this area. Currently the only two viable cards, in my opinion, are those offered by Xapo and Bit-x so its good to see another player enter the field. The fact that it launches with no fees should hopefully create some sort of competition leading to the existing providers to either drop their fees a little and or to run 'no fees' promotions.

Too bad it's not worldwide , they could get a lot of customers because they are known already and not like Bit-x & E-coin.io for example .
Still , it's pretty good I suppose since I remember that E-coin don't ship to USA for example and you have to reship to someone so he ship it back to you , so that's a good thing . Hopefully we will see more good news in the upcoming days .

Just like coinbase services it has limited places that can use this. It is useless for those living outside the United states, and still, even if you live in the United states you need to be in the states that allow you to use it  ::)
Confusing for all that live outside those restricted areas. But why? Are they testing it out first before rolling it out for all to use?

It's tough that they cannot roll it out to all of the states.... The US is a very complex market to crack, when you have innovative technology like this. Is this available in Canada ?

I cannot see the business model behind this... probably some kind of bait and switch deal. Something similar to what ChangeTip are doing. Well at least we are seeing some good

news for people who wants to use these centralized services.  ::)

they said that they will charge a fee for the conversion to bitcoin, it may go bad it depend on these fee, that usually can get bigger overtime at their willy

why people are still using centralized service with bitcoin is beyond me...

Intellectual property? I don't think a name counts as intellectual property. :) It's just a cheeky joke, that's all, there's not really any implication that she endorses Bitcoin else it would've said her name. You're getting a little bit far out there buddy.

How will this be different to the already existing cards out there, like Bit-X cards, etc?!

I see this as just another competitor out there to the existing cards. The biggest problem will still be the horrendous fees! I think this is only another service for Coinbase to add to the list of their current services. Nothing groundbreaking!

For now yes. Their offer is pretty neat indeed.

Did  you miss that part with 'no fees' included? I am quite reluctant to use bitcoin debit cards because of hidden fees and other pesky limitations. But Shift is piquing my interest.
For now I am gonna wait to see if they gonna success with this and if they will keep no fees policy.

In the future, the fee will be applied. If this card is popular, they can also charge retailers a fee. The fee can be lower than other credit cards. The fee can be 1% compared to 3% of other cards.
Coinbase has a first mover advantage. It can help the adoption of bitcoin and make coinbase come profit.

I would not prefer to use more cards personally (too much fee) but it is still great news.
Lots of people will prefer to use it. It sounds easy to use.

Check it out buddy: http://www.dmlp.org/legal-guide/using-name-or-likeness-another (http://www.dmlp.org/legal-guide/using-name-or-likeness-another)  Plain and simple.  You can't use someone's name or 'likeness' to promote your shit.  I guess that only leaves the question: Is 'Taylor Swift" like "Taylor Shift".  I'd say these are confusingly similar.  Well, what do you know!  The test for trademark infringement is actually called: 'confusingly similar'!  Ruh-Roh!

Who cares?!  Not me.  If Shift likes pushing the edge with other people's intellectual property - it doesn't affect how good the card works.  So let them play with fire.  It's just that Taylor Swift loves suing people - even her fans.  So, they sure picked a dumb fight.  If you ask me.

In a very recent case with far less 'likeness', the cheater lost $5 million dollars.  http://www.spottsfain.com/publications/322-recent-court-cases-offer-caution-use-celebrity-likenesses-advertising (http://www.spottsfain.com/publications/322-recent-court-cases-offer-caution-use-celebrity-likenesses-advertising)

Coinbase has recently reduced their 0 fee on maximum 25 transactions at day for their web wallet users. I dont think 0 fee will last long for this card, they just want to take bigger slice of pie and then put fee on that card.

What do you want? - a guarantee for life it is free?  wtf is that?  Go to Russia if you want everything for free.  That is how communism works. 

Use the card with zero fee today.  If they change the fee and you don't think it is worth it - stop using it.  Why are they made out as the bad guys - just because they might one day make a fee? 

Bitcoins have gained too much popularity recently and also USA is one of top countries in terms of number of bitcoin users.
Seeing interest of people in bitcoins, a new bitcoin visa card has been introduced by the government, the best thing about it is that it just works like a debit card of your bank account.. Which you can use as payment at retail shops. This makes you make transactions in those areas where you have poor connectivity but you want to use bitcoins for paying.  This is certainly appreciable and welcomable.

Any move in this direction seems like a good idea. From what I understand US customers have had the hardest time getting Bitcoin debit cards, so I'm sure there is demand for it. It looks pretty straightforward and I wouldn't mind it being available in my country. I haven't heard of Shift before though, I hope they will be a serious partner.

Actually, eCardOne has been available in Europe since 2013. It was even available in the US for a week or two before Dagensia figured out that regulatory changes did not allow it.

https://dagensia.eu/ (https://dagensia.eu/)

https://bitcointalk.org/index.php?topic=192095.msg2258916#msg2258916 (https://bitcointalk.org/index.php?topic=192095.msg2258916#msg2258916)

::le sigh::

My legal state of residence is one of the 26 that are not served by Shift.

So what does this have, that other bitcoin debit cards don't have?

Shift bitcoin debit card can be shiped to the USA, has no monthly/annual fee and 0% BTC to USD conversion fee for domestic transactions (for a limited time).

It also ins't a prepaid card, which most Bitcoin debit cards are. Instead of funding the card by converting some BTC to USD at one point in time, the card withdraws BTC from your account balance and converts it to USD on the spot when you use it. This means that different amounts of BTC will be used for same amount USD transactions due to Bitcoin's price volatility.

Do they charge you to order one?  I have an account with Coinbase, is it free for us to get?

It is $10 to get one, but there are no other fees.

Yep.  This is a big difference.  Prepaid cards just suck.  This card allows you to hold bitcoin - and at the moment you decide to buy something, a trade - only for the amount of the purchase - not a new prepaid event to buy another large block of fiat, but rather a trade is done to cover the purchase.

Not a bad system.  Those prepaid schemes are not so interesting.  But shift and coinbase nailed it as it allows a very convenient exit from bitcoin holdings which was not previously available.  Excellent system.

It doesn't have fees smart guy. If Coinbase was going to make something like this, they would do the research, they would already know all that kind of stuff. This will definitely help Bitcoin become mainstream and it will be very convenient for people that already use Bitcoin. It will revolutionise Bitcoin(which is already revolutionary).

Xapo still has a better deal. Coinbase has far too much KYC.

This feature (converting BTC to USD on the fly) doesn't make Shift card unique. The same system is already used by Xapo for a long time.

And Xapo doesn't hit you endless questions about where you got these bitcoins from,  as well as having better rates and higher spending limits.

The cards don't even need to be 'preloaded' as it were. Just need to have sufficient balance in your wallet.

There is no fee at present. But they reserve the rights to add fees in the future. I hope even after the fees, it is still cheaper for retailers and consumers.

The idea of bitcoin card is completely stupid ,whoever came up with it must be a retarded noob who doesn't understand the entire point of bitcoins .We are using crypt I currencies as an alternative to real cash as its safe secure and trust worthy .Now we all know credit card scams /debit/visa scams and so often are used to loot people .What makes one think that using the card for the same would not be any harm ?Imagine you're in the ATM booth and some wannbee gangster walks in there with the knife and asks you to transfer money to his wallet ? Just imagine the related scenarios.

Xapo was the first company to do this, and they ship these cards to almost every country in the world. They have a fair bit of fee's, but the first year is free, there after a Annual

fee is charged. The highest fee comes in when you lost your card and you want to expedite the replacement. { $55 }

The hidden fee's for this new card will surely come, but the limited availability, will surely make it a less attractive option, in my books. I VOTE for less KYC/AML nonsense.  ;D

Well if there will be no fees involved at all than this might be a good option until we don't grow to the point  that we will be able to pay directly with Bitcoin everywhere!

Also, if there will be no fees, this will kill the competition and all of the other already existing card providers.

this is true at first, read again what they have said after, they have said that they may ad other fee for conversion

this is why i avoid those service, fee on top of other fee always, i hate fee like taxes, they are the definition of money stealing made legal

When Xapo cards came out, there was not much media exposure. Coinbase is a big bitcoin exchange, so the issue of visa debit card by it is quite significant.
Coinbase is also a payment processor for many retailers. If they can combine the debit card and payment process, they can make more profit so the credit card fee can be lower.

Sure there are tradeoffs, but you seem to be missing the bigger picture.

 Bitcoin Skeptic: "Well, I gues Bitcoin is kind of interesting, but where can you spend it?

Shift card holder: "Umm ... Everywhere!"

Skeptic: "Oh! I never dreamed that. Hmmm...maybe..."

Well, now you're just being silly. Taxes are compulsory. These fees are fully voluntary.

You seem to misunderstand the concept of paying for a service. Is it money stealing for you to demand payment from your employer for the work you do?

it's about the amount, they play with those taxes by incrementing it every time at will, until they result in a scam, they usually take an unneeded profit on top of those fee/taxes

they are overestimated basically always

Yet still voluntary. Such is not theft. If there is no alternative -- as in taxes -- that would be theft. When fees get too high for your comfort, cut up the card. No theft.

thats is very good opportunity for Americans to use more and more bitcoins .
now this action will try to increase the use of bitcoins not only in America but also in other country.
due to this the value of bitcoins will increased.
it is really a good work!!!

It is always a good thing just seeing bitcoin go through all this challenges and slowly emerging out as a victor. Even though people are against the bitcoin thing, America coming up with the visa card in one way mean that they have accepted the digital currency. It will then ripple down to other countries that look upon the USA especially now that it is the superpower. It is a good move and I will absolutely get one. I just hope that with the visa card, the transaction fees will be a little bit reduced compared to the past.

So now I have a choice, I can use one of my three rewards credit cards that I pay $0 in fees of any kind for, and get 2% rebate (minimum, some stuff up to 5%). Or I can pay $10 to get a bitcoin-based credit card with 0 rewards.

Sorry, still not good enough. Merchants need to pony up and offer discounts for paying with bitcoin because it is to their advantage (no counterfeiting, chargebacks, etc.). This debit card-bitcoin approach is like hitching a horse up to your newfangled automobile. It misses the point entirely.

I think that ones it starts to take off they will charge you somewhat of a fee.

I'm really skeptical about these things, there's always a catch, nothing is free.

It's not completely free if they're going to add ads and fees later on.

Seems like it's a trap.

Ads??
About the fees since it is free now you can enjoy using it if you want then when they add a fee after few weeks/months/years maybe you can decide to continue using it or simply stop.
I find this shift card competitive to the other cards for the moment but its inconvenient is : it is limited to ~1/2 USA only...

Those other cards have failure mechanisms which the Coinbase card won't have because they are prepaid cards.  The Coinbase Bitcoin Visa is backed by cryptocurrency deposits.  There are many advantages doing it that way.  And far fewer problems with declines.

How could it be trap? You just need to pay one-time $10 issuance fee, no annual fees. It may later charge a per transaction fee. But it will  inform you  before they  implement any change. You can stop using it if you don't accept it. What problem do you still have with it?

Yes, it is the first bitcoin visa card based on USA.
Currently, the daily limit is $1,000 USD. Feel free to contact support@shiftpayments.com if you would like to increase your daily spending limit. IMO $1 k is enough for our daily spending.

This is Amazing, I want it on my country :o
I hope this card would be launch in another country :)

it's very good news, in this way the bitcoin more advanced and easier to use in the community and this is the first step that bitcoin is increasingly recognized, hopefully in the country also happens :)

I thought the US was slow to get Bitcoin debit cards due to US laws and regulations on Bitcoin. What's different about this?


It's available in the US, that's what's new. It's pretty major.

i really cant understand all of this hype in the media about that cards. We already have this cards like bit-x in almost one year now. There is nothing new here

With all respect to our friends on bit-x but coinbase is way popular and have thousands of users (read somewhere that they have more than 1-3 millions? Not sure) especially in the USA so it is normal to see shift cards on the media  ;)

Its really is not progress for bitcoin but a option to move coins around.  Progress would of course be merchants accepting pure bitcoin and the transaction process already in place.  BUT if merchants start to notice people are interested in using bitcoins they might start to think, I can offer a true bitcoin  payment option and all my transactions will be free as the sender pays the mining fee and no charge backs from fraud etc.

Did I miss something or is Xapo now shipping cards to the US?

Bit-X is a scam with large fees and merely a 'prepaid' card.  You sell your bitcoin to someone who loads your prepaid card with value. it is not a true bitcoin card at all.  Coinbase is a card which has a deposit account backing that is done in bitcoin.  You hold bitcoin all the time.  When a charge comes in, some bitcoin is converted to $$$ to pay the merchant.  Totally different thing.  Bit-x doesn't do US.  Bit-X has shitloads of fees.  Bit-X is a prepaid card.  You could sell coconuts to some lunatic who would put $100 on a prepaid card.  Does that make it a 'coconut Visa'?  no, it just makes it a prepaid card getting charged up by some coconut dealer.  Coinbase has a completely different system. 

This is a very good development as I think we need more competition in this area. Currently the only two viable cards, in my opinion, are those offered by Xapo and Bit-x so its good to see another player enter the field. The fact that it launches with no fees should hopefully create some sort of competition leading to the existing providers to either drop their fees a little and or to run 'no fees' promotions.
i think so~~

Not sure I would call the Bit-X a scam, but the prepaid part is true and a very important part of the deal for me. For that reason the Coinbase/Shift card looks like a great deal. Wish I could use it.

bit-x was free at the beginning for many user, so it's the same situation for this card free at the start and then enormous free it's a market gimmick

but it was no where near something that i would call a scam, bit-x is still here they are not running away with any money...

It's kinda a harsh calling something a scam when you had all the fees and the way of doing business laid out in front of you before you have subscribed for a service.

I am not saying Bit X cards are perfect but they are definitely not a scam!

Well, I got my Shift card today, tied to Coinbase for BTC.  Activated and ready to go. What should I try and buy first? Kind of excited to try it out and see how it works.

Should work like any other credit card.

Buy a cup of coffee on Starbucks! ;D

Is that it?  That's the end of this discussion?  No more news about Shift Visa card?  Two weeks passed and no body cares any longer about having a debit card tied to their bitcoin at coinbase.  Wow, I thought this would be more exciting. 

Maybe someone has actually used one and has a story or two to tell?

Wow great can i buy

wow I would just hold the card until the fees are gone or lowered. I know banks had fees and stuff
also back in the day when atm cards first came out.

Which fees are you concerned about? The $0.00 annual fee? The $0.00 transaction fee?

I must admit I am pretty upset.  I received my card.  I activated my card (same process as a normal credit/debit card).  Can you imagine my dismay when I went to a local store, charged up some stuff, had the card work perfectly, arrived home and saw the email notification I had set up to alert me a transaction had occurred (for security reasons until I get used to this), and then I logged into my Coinbase account to see exactly how the whole process worked, the money transfer went etc.

And there was Nothing!  No fee whatsoever!  They have the unmitigated gall to create a card that acts seemlessly throughout the entire world's existing Visa network, operates as it should, makes it super easy to keep most of my money in Bitcoin, and spend it directly almost everywhere in the world - and I don't have to pay ANYTHING for that privilege.

What a scam!  Sheeesh!  Dang this system!  I just know they are up to something.  I'll figure it out yet!

Yeah, like this guy...

I am waiting until the fees go 'lower' - lower than zero.  Then I'll get one too.

Am I the only one that are a little confused here? ....You are obviously a little bit sarcastic right? You used the card and paid "zero" transaction fees...? Why would you call it a

scam then... or is that part of the sarcasm? Coinbase are using Bitcoin as the back end and that makes these transactions, dirt cheap.  ???

So what is the downside of using this card? I imagine that you have to had bitcoin wallet at CoinBase. And your coins are converted to FIAT at current market rate with no fees etc.
It sound like ideal solution until direct bitcoin adoption happen.

Yes, LOTS of sarcasm.  Read below for more explanation.



None.  There are no downsides - unless, you are the average idealistic moronic bitcoin supporter that just likes to b*tch about the banks.  It never ceases to amaze me how absolutely stupid some people are to believe that bitcoin is ever actually going to change anything substantially.  It won't.  It is just money.  It isn't God.  It isn't revolution.  It isn't anything - except the newest pretty sea shell that people use to trade with.  It isn't even anonymous.  I find it hilarious that people still run around spouting about how anonymous bitcoin is.  Sure, if you really really work at it - you can do some anonymous transactions - but if the NSA or any serious entity wants to track someone down over time - they will eventually.  My having a pocket stuffed with dollar bills and handing it to someone is more anonymous than a bitcoin transaction.

The main problem with bitcoin, is that it is just money, THAT ALMOST NO ONE USES OR ACCEPTS!!!  Yet.

What I like about the Debit Card is simple.  I get paid in my little Fiat Dollar world.  It goes into my bank.  I buy bitcoins with that USD Fiat Bank Money almost immediately.  Since bitcoin is pretty much on a slow upward path, most of the time my "money" is increasing, sort of like a really good interest bearing bank account.  Only my current bitcoin account is up about 80% in the past 6 months.  Thats a really nice interest bearing account.  And using my debit card I actually get to buy stuff ANYWHERE in the world.

And that works really really well for me - because I like to be able to SPEND my money.  Actually, that is sort of the purpose of my having money - to spend it.  It is one of the reasons I don't let my customers pay me in Rocks, or chips of wood, or carrots or something.   And up until now I haven't let them pay me in bitcoin either, because I couldn't spend it easily.

Bitcoin = Money (but only when you can spend it)

Get your depit card and start spending your bitcoin, and increasing the flow of bitcoin, and then you will be actually contributing to the growth and infrastructure of the bitcoin monetary ecosystem.  Because if you don't then it will stop being money, and it will eventually die.

Well, to be fair, it *is* the only form of money with which you can safely cross national borders with large quantities in possession. Which admittedly is something very few anticipate a need for. Until, of course, that moment that they do.

I stand corrected.  I admit that in my comfy life deep in the mountains in North Georgia,, USA - I am not part of the ongoing global migrations going on.  Come on down! Land of milk and honey here :)   Bring your bitcoins!  And some gold, silver, seeds, lots of room, all welcome that aren't idiots or religious nuts, or bankers.  Especially bankers.  And lawyers.  And politicians.  OK.... so it is a long list of people not welcome.... just do good, and you'll be good :)

Peace,
- david

I can't test it but I hope this is one of the first steps into making Bitcoin more easily accesible since right now it's still on its infancy. If more people realize that Bitcoin can become a niche for digital payments so you don't have to register a credit card in every site then most of us will have a Bitcoin wallet loaded with some spare money for trivial things like that. Digital goods, gambling, apps, porn (!?) and many others!

OK, somebody totally gets it.  You can hold your paycheck in bitcoin to take advantage of increasing price, and use it whenever you want.  Brilliant.  Improving access 'to' and 'from' Fiat/Bitcoin is really important.  At least this makes the Bitcoin exit really painless and inexpensive.  Now, we just need to work on the reverse where we give $1000 and instantly get some BTC.  Better/more ATMs I guess. 

That would be dumb!
You know there exists an app (Fold) with which you can use Bitcoin and save 20% at starbucks?!
I recommend to use this one instead of the shift card.

https://foldapp.com/ (https://foldapp.com/)

https://coffee.foldapp.com/ (https://coffee.foldapp.com/)

But pay attention: Fold works at any Starbucks that accepts US gift cards. This includes Canada, Mexico, Australia, Ireland, Hong Kong, UK, Macau, and Spain.

What?!  Mt. Gox was run by some fat French fuck who was a coding buffoon.  Coinbase is a big professional company with loads of employees and very professional management.  Very big difference.  Coinbase isn't going Mt Gox.  That you can't tell the difference indicates you are a perfect scam target.  If I were a scammer, I'd aim straight at you. 

Coinbase is on a different level than MtGox, this is true, however...

If you are not the sole owner of your keys, you are subject to loss. Period.

I like my shift card, use it from time to time for lunches etc.  Two things to note though.

When you use it at the gas pump it holds like $150 worth of BTC then gives it back after the final amount clears
When you use it at some restaurants it holds an automatic 15% grat, which is returned or increased depending if you tipped more or less once the transaction clears

Other then that very happy with the Shift card.

When this coming to Finland?  ??? Can i order this card on US?

Are you still happy?  I haven't heard anything about these guys in a while.  What is going on at Shift?

I got one as soon as they became available in my state. Happy. Usable everywhere. Almost free. What's not to like?