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Coinbase and Shift Launch Bitcoin Debit Card



Shift debit cardBitcoin. It’s the cryptocurrency some of us love, and some of us hate. It’s demise is being constantly predicted by tech pundits. Yet, it continues to endure. Despite what the naysayers think, there are plenty of companies trying to find ways to expand the reach of Bitcoin. Two such companies have now teamed up to release a new Bitcoin debit card.

Bitcoin exchange Coinbase recently joined forces with payment processor Shift. Together, they’re launching a Bitcoin debit card that carries the Visa logo:

Whether your currency is new or old shouldn’t matter. Bitcoin is now accepted online and offline at over 38 million merchants worldwide. Case closed.

The process is fairly simple. Load some Bitcoin into your Coinbase account. Sign up for the debit card thru Shift and then link the two accounts. Once everything’s done, you can now pay for virtually anything with Bitcoin where Visa debit cards are accepted.

If you’d like to make it easier to spend your own Bitcoin like “real money,” keep in mind that the Shift debit card does carry some fees. For example, there’s a $10 fee for the issuance of a plastic card (which also goes for replacement cards), there’s a $2.50 fee for using the Bitcoin card at an ATM, and a 3% fee for all international transactions. However, there are no annual fees or fees on domestic transactions. However, both Coinbase and Shift reserve the right to start charging fees on domestic transactions in the future.

You can learn more about the new Bitcoin debit card at the Coinbase blog.