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The Shift Card, a first ever Bitcoin debit card for American customers, will soon be available to those residing in select states and could one day be utilized for gambling online.
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Until now the primary hurdle for using the anonymous digital currency has been with the processing of funds. This hasn’t always gone smoothly though online gamblers in the States would argue Bitcoin’s flaws are nothing compared to some of the hassles associated with trying to obtain checks or deposit funds via credit card.
The Shift Card is Visa-based and online gambling sites do have a better success rate with Visa in terms of credit card acceptance. Bitcoin now makes up nearly a quarter of some betting sites overall deposit and withdrawal business though it remains unclear as to whether complications will exist in implementing the new Bitcoin debit card with Web gambling. Even so, this is definitely a trend in the right direction as competition should emerge.
Only those in certain states will be able to use the Shift card: Alabama, Arizona, California, Delaware, Georgia, Idaho, Iowa, Kansas, Maine, Mississippi, Nebraska, Nevada, New Jersey, North Carolina, North Dakota, Oklahoma, Pennsylvania, Puerto Rico, South Dakota, Texas, Vermont, Washington, West Virginia and the District of Columbia.
Coinbase and Dwolla aren’t charging a transaction fee although Swift says both companies reserve the right to do so in the future. You’ll pay $10 up front for the plastic debit card and $10 to replace it should it become lost, stolen or damaged.
The daily spending / withdrawal limit is set at $1,000.
- Aaron Goldstein, Gambling911.com
