Shift launches bitcoin credit card. Will you shop with Bitcoin?

Being accessible, open-source, decentralized and versatile, Shift is a blockchain application network. A virtual coin, Shift, defined as a utility coin, was also created for the better development of the system.

Not long ago, Shift introduced a credit card that functions similarly to an ordinary Visa debit card, but the card is linked to the user’s Coinbase account and users can use Bitcoin to pay. According to Bitcoin, the Shift Card’s ordering cost is $20, and users can trade through prepaid bitcoins every day. Users can also query transaction data in real time through the Shift Card mobile app.

Shift card advantage

Shift official website information shows that this Coinbase-linked credit card can currently be used for online and offline spending by more than 38 million merchants worldwide. The Shift Card’s daily spending limit is US$1,000. The cost of using a Shift Card in an ATM machine For each $2.5, the international transaction service fee is 3%. Coinbase and Dwolla currently do not charge transaction fees.

Shift official website publicity: “This shift credit card, like the current debit card, can be used in all places where VISA can be used. The Shift card can also connect the user’s existing account and can immediately and directly consume through Coinbase or Dwolla. Also has a refund protection feature.”

Scope of use

It is not uncommon to provide digital currency payment services such as Bitcoin. Companies such as E-coin and Xapo also provide bitcoin credit card services, but Shift credit cards have a wider coverage in the United States than the former two. Except for restrictions in California and not available in New York, U.S. citizens can order this card.

safety

In terms of security protection, the company provides password protection, “OAuth token and bank-level AES-256 encryption” on its servers. Shift Inc. claims to implement secure SSL encryption on the site and employees’ access to information will be “strictly restricted”. In addition to the above measures, Shift also stated that the user’s social security number, date of birth, and home address will not be stored on disk.

Bitcoin reports that Bitcoin enthusiasts in the United States may be willing to use this new debit card. In general, the Shift Card provides people with ways to consume bitcoins in convenience stores, movie theaters, or gas stations. It also helps improve people’s acceptance of digital currencies.