U.S. payment company Shift launches Bitcoin debit card with Coinbase
The payment company, Shift, has launched a new Bitcoin debit card that allows users to directly link their Coinbase account and use Bitcoin to make payments at any time with a daily maximum of $1,000. Users need to spend twenty dollars to issue the card. Representatives at Shift stated,
“Whether your currency is new or old, it doesn’t matter. Because right now the cash time is over-Bitcoin have been accepted by consumer over 38 million online and offline merchants worldwide.”
A cryptocurrency debit card is similar to a regular Visa debit card, but it allows users to connect directly to their Coinbase account. The debit card has a mobile application that can be used anywhere credit cards and debit cards are accepted. Installing and activating the card for Bitcoin transactions via the app is very easy to handle and comes with refund service.
The card is currently available for use in the US, except in California and New York. Companies like E-coin and Xapo have already launched Bitcoin debit cards that are currently unavailable on the US market. Shift hopes people can spend their cryptocurrency at any merchant and institution unlike E-coin and Xapo, Shift’s target audience is the United States. Shift representatives said:
“The Shift Card works like any debit card today. Connect your existing accounts and spend immediately and directly, everywhere VISA is accepted.”
Not only that, Shift also expresses that its servers provide strong encryption protection measures, using a bank-level AES-256 encryption solution, and that staff access to information is also very strictly limited. In addition, the Shift website implements secure SSL encryption and promised not to use information such as the user's social security number, date of birth or home address.
Today, many US Bitcoin enthusiasts like to use these new types of debit cards to go to shopping, movie theaters, or gas stations. This also helps increase Bitcoin’s widespread penetration into the US market. Currently, users can download the Shift application at Google Play Store and the Apple App Store. The Shift Card costs $10, ATM transaction fees are $2.5, and cross-border payment transactions will be charged 3%.
Executive editor： Nino