Coinbase Shift and Loadoo debit cards are well-known debit cards that allow digital assets owners to transfer, top-up, withdraw and spend their currencies anytime.
Coinbase Shift card is one of the first crypto debit cards that could be used by US residents. Loadoo card can be used in many countries excluding the United States. Let us review these two cards and see how we can leverage on them to spend our digital assets.
Loadoo Debit Card
Loadoo is a digital currency platform providing crypto investors and traders a debit card through which they can withdraw, top-up and spend their digital assets. Loadoo debit card possesses the functionalities of traditional debit cards issued in banks except that it is connected to digital currency wallet, unlike bank cards that are connected to fiat balance. With it, you can transact and spend cryptocurrency both online and offline anytime anywhere.
Loadoo uses chip and pin (EMV) rather than a signature to verify payments. This makes it one of the most secure crypto debit cards in the economic space. You do not need to install any mobile application to use this card. All you need is a browser which can be accessed through a computer or mobile phone. This card can be used in over 100 countries across the globe excluding the United States.
Currency denomination
Loadoo debit card denominates in three fiat currencies; USD, EUR and GBP. Spending your digital assets with Loadoo card outside the regions where the above fiat currencies are spent will attract 3% of your transaction value as the FX service fees. As at the press time, Loadoo only supports Bitcoin. Spending other digital currencies requires conversion into Bitcoin first and this may attract extra fees.
Top-up and withdrawal limits
To enjoy unlimited top and withdrawal on Loadoo, you need to be a verified user. Verification does not take time. Just provide the required details which involve valid email, a bright photograph that meets with Europe and United Kingdom AML legislation or valid ID card. You can as well take advantage of the two-factor verification as you set up your account to add advanced security to the wallet.
There is no limit to the number of online transactions that both verified and unverified users can carry out on a daily basis but the highest amount for unverified users is $1,000. That is the limit to their lifetime transaction amount allowed. As well, the maximum top-up, daily load and lifetime ATM limit is $1,000. They cannot load or withdraw on ATM more than two times a day.
Verified users can top up as much as $10,000 at a time but the maximum amount they can load within 24hours is $20,000. They cannot withdraw more than twice on ATM daily each not more than $1,000. They can load up to 5 times a day. Every other top-up and withdrawal are unlimited.
Card fees
It Costs $15/€15/£15 to get Loadoo debit card. Standard delivery attracts no charge and may take up to a month while express delivery could get at your doorstep within a week for an extra fee. PIN issuance costs $1/€1/£1 depending on your currency while card loading incurs 1% of the top-up value. Using to make withdrawal domestically costs $2.50/€2.25/£1.75 but using it to make international transaction attract $3.50/€2.75/£2.25. Online and offline purchases attract no fee but you will be charged $1/€1/£1 monthly for maintenance.
Coinbase Shift Card
Coinbase is one of the leading digital currency exchanges. As the need to spend digital assets anytime anywhere just like fiat currencies increased, Coinbase created a debit card known as SHIFT which allows the platform users to withdraw their digital assets from ATMs, spend them at stores, restaurants and make other online and offline transactions without constraint.
Shift card initially supported Bitcoin only but was later added the functionalities to accept Altcoins. It was one of the first crypto debit cards to clear US regulatory and this makes it available for the United States residents.
Currency denomination
Shift card supports USD and various digital currencies. Its commission fee of 3% of the transaction value means international users are required to part with a certain amount; 3% of their top-up or transfer value.
Top up and withdrawal limits
The maximum amount you can withdraw using Shift card is $1,000 daily. ATM withdrawal is limited to $200 unless you are withdrawing from your Dwolla account which allows you to dispense up to $500 in a day.
Card fees
Shift card attracts issuance fee of $20. Standard delivery is free and takes a couple of weeks while paying a few extra amounts (aside from the issuance fee) enable you to access the express delivery which only takes a few days. In case of loss or damage, Shift card can be replaced for $10. Loading money on Shift card does not incur extra fees. Domestic ATM withdrawal costs $2.50 while that of international ATM withdrawals incur $3.50. Using the Shift card at POS terminals or to make payments both offline and online do not incur any charge except when it is used for international transactions which attract up to 3% of the value. Unlike many other crypto debit cards, Shift does not require monthly or annual fees for maintenance.
Let us take a look at some features of Loadoo debit card and Coinbase shift card head-to-head using a table.
| Feature | Loadoo Debit Card | Coinbase Shift Card |
|---|---|---|
| Card Cost | $15, €15, £15 | $20 |
| Card delivery | Standard delivery: Free, express delivery: Undisclosed | Standard delivery: Free, express delivery: Undisclosed |
| Denomination currencies | USD, EUR & GBP | USD |
| Supported currencies | BTC and some others | BTC and several others |
| PIN change | $1, £1, €1 | Free |
| Loading fee | 1% | Free |
| Minimum top-up and withdrawal | No minimum limit | No minimum limit |
| Maximum daily top up and withdrawal | Unverified users: $1,000, Verified users: $10,000 | $1,000 in all, ATM withdrawal: $200, Dwolla account withdrawal: $500 |
| International transaction | Not specified | 3% |
| POS and online purchase | Free | Free |
| Domestic ATM withdrawal | $2.50, €2.25, £1.75 | $2.50 |
| International ATM withdrawal | $3.50/€2.75/£2.25 | $3.50 |
| Monthly subscription | Free | Free |
| Annual subscription | Free | Free |