Coinbase’s Shift Visa debit card, the first US Bitcoin debit card allows to be linked to any wallet in a user’s Coinbase account, according to the latest announcements. Coinbase can be used to spend coins online and offline across the globe at over 38 million merchants.
The debit cards work like any normal debit card when connected to existing user accounts, allowing to spend immediately and directly in any place that accepts VISA with immediate notifications.
Charlie Lee, Litecoin’s Founder tweeted:
“FYI: Coinbase’s Shift Visa debit card can be linked to any wallet in your Coinbase account. So, in addition to BTC, it can be set up to deduct from your LTC (or ETH/BCH) wallet.”
Serene, an LTC holder says:
“This is awesome. I actually already have a Shift debit card from a Dwolla account I have. I just opened my app and linked my Coinbase account and attached my LTC wallet. I am glad to see Visa harmonising. I thought them disaster bound…. like the others. Thanks, Charlie!”
The VISA debit card can be set up to deduct or spend Litecoin [LTC] or ETH/BTC apart from just Bitcoin [BTC].
Austin Coen tweeted addressing Charlie Lee:
“Seems like 2 third parties trying to access and identify your crypto funds? Interesting, I’m assuming this concept may be Coinbase’s future plans for all customers. Good to know!”
Charlie responded to this by saying:
“Only put coins there that you are going to spend. Think of it as your checking account. Keep the rest safely stored elsewhere.”
Antonio, another speculator also questioned Charlie:
“So, Charlie, do you really think that people will want to keep using these services that directly tie you to the centralized bankers? I see them easing the use of crypto only momentarily.”
To which he replied:
“It’s a trade-off. Get ease of use with a 3rd party centralized service.”
Litecoin [LTC] is currently trading at $151 with significant volume increases over the week accounting to 19% roughly. LTC stands at the 6th position with a market cap of $8.4 billion as seen at press time.
Charlie also mentioned while replying to a supporter who stated taxes as a problem saying, “Indeed. I hope they pass a bill that lets you spend small amounts tax-free.”
There were a bunch of unhappy and non-supporters of Coinbase who expressed their claims:
“Cool, wish we could get a legitimate LTC payment system going that doesn’t implode on launch instead TBH. Hate relying on old and corrupt centralized entities like Coinbase.”
Adrian Dowell says:
“I still have my shift card and would love to use it, but I would prefer to stay away from Coinbase.”