It has now been over 2 months since our partner Shift Payments launched the first US-issued bitcoin debit card, built with the Coinbase API. To the average person, the Shift Card may appear no different from a traditional debit card. But to the growing community of people that views bitcoin as an attractive store of value, spending bitcoin anywhere VISA is accepted represents a major step towards a more efficient global economy.
Shift has quickly emerged as one of the most successful apps to launch with Coinbase. Here’s a few insights on Shift Card usage:
User Signup and Spending Growth
Since launch in November, over 10,000 people have signed up for the card and spent over $1,000,000 worth of bitcoin.
Here are the most common types of purchases that have been made with the card (between December 1st and January 15th):
Here are the most commonly used merchants (between December 1st and January 15th):
People in 32 states in the U.S can now use the card to spend bitcoin anywhere VISA is accepted (see here for a complete list of eligible states).
Here’s a breakdown of Shift transactions by state of user (between December 1st and January 15th):
What’s next for Shift?
In the coming months, we’ll continue to work with Shift to offer the card to people in more states. The waiting list is long and growing by the day, so we’re anxious to broaden geographic eligibility. Additionally, Shift is working hard on new features to make the card more useful.
If you have any feedback, they’re keen to hear from you. Shift can be reached on Twitter and by email at email@example.com.