Hello, I just received a Shift Card, it seems like a good idea, but I haven't used it yet, because "who spends their bitcoins?" There is a $9.99 fee to get the card, but no fees to use it for payments, but a $2.50 fee for ATM dollar withdrawals. So the recipient when using the card gets US dollars, not bitcoins, and there is not a fee for the bitcoin to dollar conversion, which is great!
Keep in mind that when you use it for a payment or ATM withdrawal you will need to keep records so you can know how much you will owe for capital gains taxes, if any, since you are essentially converting back to fiat.
It is basically a VISA debit card linked to your Coinbase balance. Not the ideal solution, because I would like to pay directly from my own independent wallet, but it will do for now! The FAQ does state they are working to implement other funding sources. Right now there is Dwolla, which despite me visiting their site, I can't really determine what that is.
https://www.shiftpayments.com/card
My card looks different than the photo below. It is blue with a smart chip and no numbers on the front (VISA number on the back). If you're looking for a bitcoin payment method, check it out! Let me know if you have any experience using it, or have run into problems.
Very interesting! Glad that more and more companies are making these debit/credit crypto cards! Monaco and TenX also has similar cards with some added benefits and features for token holders (ie. crypto cashback %).
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Those are great, but I don't know if Monaco is actually working yet? and I think TenX doesn't work in the US. But these things will sure get easier and more common over time.
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Yeah, TenX is Europe only for now, but Monaco seems to have plans for US soon, not sure.
Do you know if the Shift card is pull or push transactions? Because if they are pull, that is great because those are safer. (aka. you get to confirm before each transaction is sent)
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great news for cryptos.
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Sounds Really interesting, This is a good step nearer to the Future of Crypto. Though i'd like it to support all coins, at their current prices even, but that is just too much to ask for i guess. Though Anonymity will not be a thing anymore with this type of card. We'll see how it turns out, but like this, i dont think many people will use it.
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Wow its all becoming so integrated into real life!
I still can't believe some people don't believe crypto currencies a real thing!
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