The Shift Card is a VISA debit card that currently allows Coinbase users in select states and territories (see list below) in the U.S. to spend bitcoin anywhere VISA is accepted.
How do transactions work?
When you use your Shift debit card to make a purchase, the equivalent value of bitcoin (based on the current spot price of bitcoin on Coinbase) will be debited from your Coinbase bitcoin wallet. For certain transactions, like gas purchases and dinner bills, Shift will debit more than the purchase amount, and will refund you the remainder when the final payment amount is settled. Further details of Shift’s authorization procedures are available here.
How much does it cost?
- There is an initial issuance fee of $20
- There are no transaction fees on domestic transactions for a limited time
- There are no fees associated with the exchange of bitcoin to USD
- Other fees may apply to certain transactions (outlined in the Shift Payments FAQ)
How do I get one?
If you live in an eligible state, you can get your Shift Card by completing the two-step sign up on https://shiftpayments.com...
1. Using Coinbase Connect, authorize Shift Payments to debit from your Coinbase wallet.
- You specify which wallet to spend from with your Shift Payments card
- By default, the daily spending limit is $1,000. You can lower this limit to any amount below $1,000.
- The daily ATM withdrawal limit is $200.
2. Order the card by verifying your identity and authorizing payment of the $10 issuance fee
- The payment will be made in bitcoin from your Coinbase wallet
District of Columbia
Why isn't the Shift Card available in my state yet?
Coinbase and Shift are working through legal and regulatory matters in other jurisdictions. Stay tuned!