Edit: Shift Card was removed from Coinbase as of April 2019 but it's still supported in other places.
It is time to start using bitcoins in a Smarter Way! Shift Card – what’s that?
The Shift Card it’s the first US-issued bitcoin credit card. It’s a VISA debit card which allows users of Coinbase spend bitcoins online and offline in 24 states in the U.S. at more over 38 million merchants worldwide.
Why was the Shift Card created?
Coinbase has noticed that bitcoins and using them for paying are becoming increasingly popular in recent years, but it was still pretty difficult for many people to do regular shopping and paying for it with bitcoins. Buying some fuel at the gas station or everyday products at local shop with bitcoins has not been possible in most U.S. cities. Until now… with the Shift Card which makes this possible.
How do transactions work?
When you use your Shift Card to pay for some stuff, the equivalent value of bitcoin will be debited from your Internet wallet. It’s based on the current price of bitcoin on Coinbase. For some transactions, for example paying for gas, Shift will charge more than the purchase amount, and you will get back the remainder when the final payment amount is settled.
How to get the Shift Card?
It’s possible to get your Shift Card by completing only two steps:
- Connect to your Coinbase account and authorize Shift Payments
You can choose wallet to spend from with your Shift Card
The daily spending limit is $1,000. You can choose lower limit – any amount below $1,000.
The daily ATM withdrawal limit is $200.
- Order the card – you just need to provide your physical address and authorize the $10 issuance fee – paid in bitcoins of course
How much does it cost?
For some limited time, there are no fees associated with domestic merchant transactions beyond the $10 issuance fee which we pay only once. Coinbase has a fee schedule on theirs website.
What’s worth knowing there are no fees associated with exchanging bitcoins to USD.
The Coinbase notes that, in the future, they may charge some fees to The Shift Card for the conservation of bitcoin.
Who can use Shift Card?
If you are living in an eligible state, you can start using the Shift Card with no problems when you complete signing up on Shift Payments site. On websites of Coinbase and Shift Card you can find list of eligible states. There is also one more smarter way for earning extra bitcoins! How? It’s simple.
You just need to sign up using this referral link. Then if you buy $100 (or 100 of some other currency). After that we will get equivalent $10 in bitcoins – both, we and the person from whom we got the referral link.
How to use the affiliate program?
It’s easier than you think. You just need to:
- Create new account on Coinbase
- Click My account and copy referral link.
- Send it to your friends or just share it on Facebook.
- Earn extra bitcoins