Topic: I have a Bitcoin debit card in my hands... - page 2. (Read 2899 times)
What are the cards limits? Can you use it on ATMs? What are the ATM limits? Can the card be bought and used anonymously? How exactly does the card get loaded?
That's interesting. How do you "fund" the card? Do they apply a preset limit based on your Coinbase account? If they do how is the tracking for how much you've already spent accomplished? Is there a number or website you can use to see how much is left on the card? Surly you aren't saying the card is limitless?
Fees? Change rates?
Best regards,
ilpirata79
Best regards,
ilpirata79
I somehow managed to get into the second Beta rollout for Shift Payments, and my card hit my mailbox yesterday. So far, I'm very much impressed. I've used it at a national restaurant chain and at a local retailer, and both transactions went without issue.
The world is rapidly changing, and it's honestly just amazing to see how quickly cryptocurrency is being adopted. It's one thing to talk to other enthusiasts and stash away coins as you can - it's quite another to suddenly be able to use Bitcoin in your daily life.
Consider this - I have my bank account hooked to Coinbase, and I can buy Bitcoin instantly from my phone. Now I've got a Visa card that I can use to spend those same coins, even if the merchant I want to use has never heard of Bitcoin. Sitting in central Virginia, I can literally buy, sell and use Bitcoin more easily than I could Euros.
But, enough of the glowing praise and fanboi diatribe - let's talk limitations.
The card is issued in Japan, and doesn't have my name on it (it says "TAYTWO POINTMEMBER"). The numbers aren't raised. The back is in Japanese. Shift sent a letter with the card explaining these issues, and it's important to understand that it is a BETA PROGRAM. I'm frankly amazed that they've managed to get them out the door so quickly at all. They're working on issuing personalized card with their own design, but didn't want to hold up the Beta program. Awesome
The card costs money. I've honestly forgotten how much, but I want to say it was around $50. Their site says this is to help manage demand, and I have to say that I really like that they have come out and said this. A company charging more money to limit demand for their product, then acknowledging that they are doing so? That doesn't seem to happen often in the US, and I'm happy to support such a company.
Their settlement system leaves much to be desired. I have two transactions pending right now, and my Coinbase account has not yet been touched. The funds are spent from my Bitcoin account when the transaction settles 24-48 hours later. If I wanted, I could buy $500 worth of stuff then empty my Coinbase account, sticking Shift with the difference. It *is* a Beta, but this must be fixed before releasing to the public. If Shift is to survive, they must be able to effectively manage their exposure.
They ask for permission to spend unlimited funds from my Coinbase account. I don't generally keep funds in any hosted wallet like that (I use GreenAddress.it for my short-term savings), so it's not an issue for me - but it could be for others. There's no way I'd want to give them access to purchase Bitcoin on my behalf either, althought they have apparently considered it judging by past interviews I've read.
All in all, I'm happy. Bitcoin has come a long way since I got involved, and if Shift can pull this off on a large scale it will literally change the world. We live in exciting times.
The world is rapidly changing, and it's honestly just amazing to see how quickly cryptocurrency is being adopted. It's one thing to talk to other enthusiasts and stash away coins as you can - it's quite another to suddenly be able to use Bitcoin in your daily life.
Consider this - I have my bank account hooked to Coinbase, and I can buy Bitcoin instantly from my phone. Now I've got a Visa card that I can use to spend those same coins, even if the merchant I want to use has never heard of Bitcoin. Sitting in central Virginia, I can literally buy, sell and use Bitcoin more easily than I could Euros.
But, enough of the glowing praise and fanboi diatribe - let's talk limitations.
The card is issued in Japan, and doesn't have my name on it (it says "TAYTWO POINTMEMBER"). The numbers aren't raised. The back is in Japanese. Shift sent a letter with the card explaining these issues, and it's important to understand that it is a BETA PROGRAM. I'm frankly amazed that they've managed to get them out the door so quickly at all. They're working on issuing personalized card with their own design, but didn't want to hold up the Beta program. Awesome
The card costs money. I've honestly forgotten how much, but I want to say it was around $50. Their site says this is to help manage demand, and I have to say that I really like that they have come out and said this. A company charging more money to limit demand for their product, then acknowledging that they are doing so? That doesn't seem to happen often in the US, and I'm happy to support such a company.
Their settlement system leaves much to be desired. I have two transactions pending right now, and my Coinbase account has not yet been touched. The funds are spent from my Bitcoin account when the transaction settles 24-48 hours later. If I wanted, I could buy $500 worth of stuff then empty my Coinbase account, sticking Shift with the difference. It *is* a Beta, but this must be fixed before releasing to the public. If Shift is to survive, they must be able to effectively manage their exposure.
They ask for permission to spend unlimited funds from my Coinbase account. I don't generally keep funds in any hosted wallet like that (I use GreenAddress.it for my short-term savings), so it's not an issue for me - but it could be for others. There's no way I'd want to give them access to purchase Bitcoin on my behalf either, althought they have apparently considered it judging by past interviews I've read.
All in all, I'm happy. Bitcoin has come a long way since I got involved, and if Shift can pull this off on a large scale it will literally change the world. We live in exciting times.
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