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Author Topic: Shift - Bitcoin Visa Card - now available in the US  (Read 4526 times)
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November 21, 2015, 11:54:04 PM
 #41

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

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November 22, 2015, 01:29:04 AM
 #42

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.
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November 22, 2015, 03:22:02 AM
 #43

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.
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.


     
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November 22, 2015, 03:51:08 AM
 #44

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

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).
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November 22, 2015, 04:28:08 AM
 #45

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

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November 22, 2015, 05:45:11 AM
 #46

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.
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.

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.
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November 22, 2015, 05:47:12 AM
 #47

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

mmm普通会员
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November 22, 2015, 06:58:52 AM
 #48

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.
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.

This feature (converting BTC to USD on the fly) not making 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.

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November 22, 2015, 07:23:23 AM
 #49

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.

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.
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November 22, 2015, 07:30:49 AM
 #50

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.


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November 22, 2015, 08:02:05 AM
 #51

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.  Grin

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November 22, 2015, 10:42:46 AM
 #52

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?
For now yes. Their offer is pretty neat indeed.

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!
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.

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.
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November 22, 2015, 11:01:32 AM
 #53

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.

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
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November 22, 2015, 03:47:44 PM
 #54

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.  Grin

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.
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November 22, 2015, 07:48:26 PM
 #55

The idea of bitcoin card is completely stupid ...

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..."

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

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November 22, 2015, 08:02:20 PM
 #56

, i hate fee like taxes, they are the definition of money stealing made legal

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?

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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November 22, 2015, 08:08:17 PM
 #57

, i hate fee like taxes, they are the definition of money stealing made legal

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
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November 22, 2015, 08:27:22 PM
 #58

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.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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November 23, 2015, 10:28:47 AM
 #59

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!!!

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November 23, 2015, 10:59:37 AM
 #60

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.
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