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Introducing the Shift Card: Use Bitcoin where Visa is accepted

blog.coinbase.com

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Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#21

Post by cookiecaper »

antaviana wrote: post #6
k2enemy wrote: post #2

I couldn't find any mention on the website -- does it support one time numbers for online transactions? If not, I'd be very reluctant to use it. One breach and your bitcoin account is gone.

Nerver used bitcoin, but cannot you simply create another bitcoin account for petty cash VISA transactions and transfer funds when need be?

You can, but ironically, transfers are not painless in Bitcoin. It can take over 60 minutes for a transaction to be "confirmed", meaning the network has verified that the coins you spent were rightfully yours to spend, and there needs to be a transaction fee attached so that miners are incentivized to check your transaction.

Many bitcoin users prefer to generate a new incoming address for each transaction to improve privacy (Bitcoin is "anonymous" only insofar as your legal name is usually not directly attached to the transaction; in most other ways, it's more traceable than the alternatives).

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#22

Post by ShiftPayments »

TomGullen wrote: post #13
Tortoise wrote: post #8

"The default PIN is the last four digits of your registered mobile phone number. Please call Shift support at 800-897-0717 to reset your Shift Card pin." That's a terrible idea. This isn't a library card. You're PIN shouldn't be known by anyone who knows your phone number.

That's pretty horrendous. Should be inactive until you activate it, or randomly generated and displayed to you securely in some way.

The card actually is inactive until you activate it once it arrives

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#23

Post by ShiftPayments »

cjg wrote: post #18
luisrudge wrote: post #14

Someone please change the title to Anywhere IN US :)

The text says "at over 38 million merchants worldwide" which seems to imply that it isn't limited to the US in the sense in which you want to change the title.

The card works both in the US and at merchants that accept Visa abroad!

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#24

Post by celticninja »

TomGullen wrote: post #17

Don't get the point of this. I'm assuming it's going to be a slightly more expensive way of buying things with a card? As supposed to me being charged in $, I'm assuming it exchanges some of my BTC balance for $ which is going to come at some cost.

I assume it uses up BTC to the value of the $ amount at coinbase exchange rates. Whether that is the best exchange rate or not is debatable but it probably the only way for them to be sure they dont take a hit due to volatility.

Of course there could be some saving to the user as otherwise they may need to sell coins (paying fees to do so) then withdraw, again paying a further fee. So this is an immediate way to spend BTC with a merchant that does not accept BTC.

This would be very useful for people who use bitwage to get paid in BTC.

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#25

Post by [deleted] »

Tortoise wrote: post #8

"The default PIN is the last four digits of your registered mobile phone number. Please call Shift support at 800-897-0717 to reset your Shift Card pin." That's a terrible idea. This isn't a library card. You're PIN shouldn't be known by anyone who knows your phone number.

[deleted]

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#26

Post by jcfrei »

"The Shift Card is a VISA debit card that currently allows Coinbase users in twenty-four states and territories (see list below) in the U.S. to spend bitcoin anywhere VISA is accepted." - So you have to live in one of the 24 states. And for California they only allow up to 1000 applicants...

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#27

Post by csense »

luisrudge wrote: post #14

Someone please change the title to Anywhere IN US :)

> Anywhere in US

Only in less than half of the US states (they use the number "24" prominently, which is still less than half, but include DC and PR, and CA is limited to 1000 users, so 21 is a more realistic number).

[1] https://support.coinbase.com/customer/en/portal/articles/222...

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#28

Post by csomar »

ewillbefull wrote: post #19

You can now use Bitcoin anywhere VISA is accepted, so long as coinbase doesn't close your account, ignore you and close all the tickets you open. Even if you painstakingly collect and compile sensitive documents for them to review, which was a gigantic waste of my time, thanks! I have for months encouraged everyone I know not to use coinbase and will continue to do so.

That's really weird. I moved money in the 6 figures in Coinbase and have uploaded no documents whatsoever. Never had a question from them. (except for sending big amounts, they ask you if it is for an exchange or wallet).

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#29

Post by celticninja »

ShiftPayments wrote: post #22
TomGullen wrote: post #13

Earlier quoted context omitted.

That's pretty horrendous. Should be inactive until you activate it, or randomly generated and displayed to you securely in some way.

The card actually is inactive until you activate it once it arrives

but if someone intercepts your mail, then they know your address and could possibly know your phone number. How secure is the activation process?

Why dont you send the card and PIN out separately like a bank?

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#30

Post by celticninja »

ShiftPayments wrote: post #23
cjg wrote: post #18

Earlier quoted context omitted.

The text says "at over 38 million merchants worldwide" which seems to imply that it isn't limited to the US in the sense in which you want to change the title.

The card works both in the US and at merchants that accept Visa abroad!

but is only available to US residents, of whom less than half own a passport, so the worldwide merchant aspect is applicable to the subset of the US population that hold bitcoin and a passport.
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