Like other companies which offer cryptocurrency debit cards, UQUID has goal of expanding blockchain technology. The company hopes to unite those who use digital tokens with merchants in all areas of the world. UQUID offers a Bitcoin debit card that can be used online and offline to purchase goods, and it can also be used to spend other cryptocurrencies as well as make ATM withdrawals. It is a noble goal, but the company is still new and there aren’t many reviews from customers who have actually used the service.

UQUID is owned by Cosci, LTD. The business is duly registered in the UK, and a physical location for the company is provided on the UQUID website. It is also possible to obtain the registration number of the business. The are all pluses, because transparency is important to any business dealing in cryptocurrency. Customers are far more likely to trust one of these online companies when they can verify information.

It is interesting to note that the company itself was founded in 2013. Originally, Cosci, LTD. served as a provider of web hosting and data processing. It still provides these services. UQUID, however, only began offering Bitcoin debit cards in 2016. When one compares this to other debit card providers, UQUID is in its infancy. This means that it is hard to find many reviews online from individuals who have obtained a card.

The website is not very forthcoming about the identities of the company’s owners. This, too, is a concern. Using the registration number provided on the website, we were able to determine that Khanh Hung Tran is listed as a company officer. Presumably, Tran is from Vietnam. The unfortunate thing is that subsequent searches on the name don’t return any associations with UQUID. The LinkedIn page for the company offers little in the way of additional information.

Why does all this matter? Because legitimate companies tend to be transparent about their ownership and management. We’re not saying that UQUID isn’t legit. We’re just saying that we see some red flags which could reveal a potential problem. Do your own due diligence before ordering a card.

The good news is that the company does have an email address and multiple social media accounts. You can contact them by emailing [email protected], and also check them out on Facebook and Twitter. 

It is possible for owners of the UQUID debit card to receive payments in both Bitcoin and 40 other altcoins. Some of these coins include Litecoin, Ethereum, and the popular Ripple. The company provides users with a wallet that can have a base currency of USD, EUR, or GBP.

An advantage of having an actual wallet as part of the platform is that transfers of currency from the wallet to the debit card are instant. UQUID uses real-time exchange rates to determine the value of transfers. So, if you load fiat currency into your wallet, the money can be spent as cryptocurrency almost immediately. The same can be said for receiving digital coins on the card. You can use them in a variety of locations and at ATM machines without having to exchange your currency.

There are many people in the world who do not have a bank account. These individuals are those who UQUID is going after. They also market their services to expats and travelers who are often in different parts of the world. A UQIUD debit card can minimize the need for currency transfers. It is also possible to use the card for paying bills, reserving hotel rooms, and buying travel tickets. These are all things that require a debit card.

It is possible for the holder of this card to receive payments from others. Users can get paid for freelance jobs, and they can even have gambling winnings from online casinos sent to the card. It is also possible to register the card at PayPal. Some 34 million ATM machines around the world will accept the card for cash withdrawals.

Two types of cards are available from the company. Users can get a plastic card or they can opt for a virtual card. Some countries like the United States and India are excluded, but there are more than 130 countries where a card can be shipped. It can take anywhere from one to two weeks to receive a plastic card in the mail. Virtual cards are available immediately.

It doesn’t cost anything to have the card shipped in standard fashion. Those who need the card quicker, though, are going to find themselves shelling out $35 USD for the privilege. The thing is, with expedited shipping the company only guarantees arrival in five business days. That isn’t much different from standard shipping. It should also be noted that only one card is allowed per email address. We find this strange. If someone wants more than one card, a new email address is required every time.

UQUID has multiple ways that a user can load their card. Those who are willing to verify their account can make a load with a bank transfer. Bank transfers are comforting because it is much easier to dispute a transaction when something goes wrong. The method of loading for anonymous customers will be limited to receiving payments in Bitcoin or other altcoins. There are a total of about 17 payment providers around the world who will facilitate transfers to the card.

A great thing about the card is that it also functions as a cryptocurrency wallet. Users can just receive payments like they would with any other wallet, except in this case the funds are immediately available on the card.

To establish an account with UQUID, there is a fee of $16.99 for the plastic card and $1 for the virtual card. These fees are reasonable when compared to the fees of other providers. If the card has a balance, a monthly fee of $1 is charged for maintenance. Again, this is low when compared with the fees charged by other cards. Something we find curious is that obtaining a PIN for the card, something which is necessary, is free. Changing a pin, though, cost $1 USD each time. Call us crazy but we like the option of changing a PIN code whenever we want at no charge.

There are two distinct packages for those who want a card. The first of these is the Silver package. This package does not require a user to disclose their identity, nor does it necessitate a credit check. Yes, it is possible to receive a VISA debit without providing identity, but there are limits imposed on transactions and withdrawals. In addition, users can only load $2,500 anonymously. The ATM limit is $200 per withdrawal with a maximum of $1,000.

The other route is to provide verification of your identity. This can be easily accomplished by providing a passport or valid ID. You will also be asked to provide proof of your residence. The most common way to do this is with a utility bill.

It will take UQUID about three or four days to process the verification of your account. Once your identity has been established, the card can be used for unlimited transactions. There is only one exception to this rule. Users can only withdraw $2,000 daily from an ATM machine, and there is a limit of two transactions per day. There is also a limit of $20,000 when it comes to daily loads. Beyond this, there are no limits or restrictions on using the card.

There are, of course, fees on domestic ATM withdrawals in the amount of $2.50 per transaction. This is standard in the industry. Withdrawals from international ATMs are charged at $3.00. When the base currency of the card is different from the purchase currency, there is a fee of 3% for the currency exchange.

It doesn’t cost anything to load a card with most methods. It is completely free to receive Bitcoin and altcoins to the card’s wallet. A bank transfer can cost 1.5% of the total, and the different payment processors all charge different amounts. You can expect to pay between 2 and 5%.

There is a fee of 3% charged when users want to withdraw money from their card account to their bank account.

There is one glaring problem with the UQUID website. It was apparently designed by someone with poor English skills. The problem here is that some people will see this and become convinced that he card company is a scam. The main issue is with grammar. Some parts of the website can be downright hard to read.

There are eight other languages that can be accessed with the platform. The website is available in German, Italian, French, Turkish, Chinese, Vietnamese, and Arabic. There is also an app available for Android and iOS devices, but the app is in its infancy and has yet to amass enough reviews to be deemed useful.

UQUID uses two-factor authentication, and the site’s security measures are on a par with the most recent standards. Email is currently the only form of support provided, and that is somewhat discouraging. On the bright side, the contact form makes sending an email easy. Users are also given a ticket number which makes it easier for them to track the status of their support email. The company promises to answer all email queries in 24 hours, but this may or may not be accurate. It is too soon to know how well the company keeps this promise.

We love that this cryptocurrency debit card will work with more than just Bitcoin. That’s sort of rare, and it makes this card a great one for the investor. We’re always a little perplexed when a card is offered with a base currency of USD but the card is unavailable to US residents. This could be because the card has an anonymous option, and that kind of thing is frowned upon in the States.

The card limits are reasonable, and no limits are imposed once a user verifies their account. Everything seems on the level with this company. The main concern is that UQUID isn’t nearly transparent enough when it comes to its company structure.

UQUID is rated 3.75 out of 5 on our cryptocurrency card rating scale. 

UQUID Pros

Base currency of USD, EUR, and GBP
40 altcoins available in addition to Bitcoin
Many ways to load the card
Unlimited usage and ATM withdrawals

UQUID Cons

The company is still fairly new, so there is little information from customers online
Website uses poor English and gives the impression the company is unprofessional
Does not accept residents from the United States