Do you ever pay for your shopping with crypto coins in the store? You may think this is a weird question, but it’s certainly possible! More projects are creating their own crypto payment card. With this payment card, you can pay in stores with crypto coins. Don’t wait any longer and read about how to do payments with the payment card from Uquid Coin.
The goal of the developers of Uquid Coin is to build their own ecosystem with Uquid Coin, which offers its users the option to cash out their checking account balance. Or even just a certain amount of it. The primary issue here is the speed that must be guaranteed. Do you want to know how this works, and where you can buy the token? We are happy to explain that to you in this article!
What is Uquid Coin (UQC)?
The Uquid Coin – also referred to as UQC for short because of its tracker – is based on Ethereum and its ERC-20 protocol. It is not possible to mine this cryptocurrency . Instead, it can be purchased directly through its own platform. Owners are promised 0.4% in this case, which can be saved on the collected rights. At the same time, all the security features of Ethereum are used and high liquidity is guaranteed for every user by the team behind the projects. Any coins you own can be withdrawn at any time and from any supported location.
In total there would be a market capital of 123 trillion dollars. Tens of millions of transactions have been made since 2016. More than 51,000 cards have been sent to 174 different countries to enable users to use these services. Finally, the payout is made via such a card.
The team is aware that it operates in a highly digitized world. It is therefore particularly important that such a project remains up-to-date. Several successes have already been achieved in the company’s history to date. On the one hand, UQUID is the first company to offer an altcoin debit card that supports more than 90 coins. In addition, the company is one of the first to offer a high-quality mobile app for its own business.
How can I buy the token of Uquid Coin?
The fastest way to buy the token of Uquid Coin is on the official website, which can be found at uqidcoin.com. Here users need to register their own account. After that, an order can be placed immediately, which can contain any amount. The purchased amount will be credited to the account within 24 to 72 hours. In order to pay for the placed order, only Bitcoin, Ethereum or other 88 Coins are accepted. There is no option to pay via bank transfer, iDeal, PayPal or any other similar payment service provider. If the direct sale via the website does not appeal to you, there are still plenty of exchanges available on which you could buy and sell the Uquid Coin.
Think of Binance , ByBit or Bitcoin Meester. But you can also buy UQC on decentralized exchanges (DEX) like Uniswap and Sushiswap. However, it is a lot more difficult to buy UQC via a DEX. You have to go through many more steps when you choose a DEX, which creates a chance that things will go wrong. It has happened to many people in the past that they lost their money because they made a mistake when purchasing on a DEX. There is also often no help desk at a help desk when something goes wrong.
That is why we recommend that you choose an exchange like Binance or Bitcoin Meester(a dutch website), so that you can be sure that everything is going well, and that you can always go somewhere if something goes wrong. These crypto exchanges have customer service that you can get in touch with quite easily, without too many problems. That is a lot safer and gives you a nicer feeling!
How can I keep UQC?
Because UQC runs on the Ethereum blockchain, and UQC is an ERC-20 token, the token can be stored in almost any wallet. So it doesn’t matter where you store the token. However, it is recommended that you store large amounts of UQC in a cold wallet, as this is a lot safer than a hot wallet. You can easily disconnect a hardware wallet from the internet, making it impossible for hackers to get to the tokens.
However, the disadvantage of a hardware wallet is that you can lose it more easily. The moment you lose the wallet, there is no way to get back the crypto coins that were on the hardware wallet. Therefore, always make sure that you keep the hardware wallet with your UQC coins in a safe way, so that you will never lose the wallet.
The price of UQC
Of course, the price of UQC rises and falls continuously. Obviously, you want to buy these tokens for the best price. That is why it is wise to keep an eye on the price of UQC regularly. This way you can determine for yourself when is the best time to get into this cryptocurrency.
The Value of Uquid Coin
The current value of a coin is about 29 US dollars. This means that the price is relatively high. Other very high values were recorded on February 8, 2018, at USD 2.82, as well as on December 15, 2017, at USD 2.72. It is an ongoing change that the price goes through. To get a high profit when trading with UQC, it is necessary to be aware of changes several times a day. Therefore, this cryptocurrency requires an intense investment of time, but it will be well worth it due to its high price. Even at its lowest point to date, the value was still more than a US dollar.
The total number of UQC that will become available is 10 billion tokens. As of May 2021, 40 million tokens have already been issued. The price of UQC is expected to increase once fewer tokens become available. The supply then decreases, while the demand may remain stable or even increase.
ICO of Uquid Coin
To fund the project, the proceeds of the Initial Coin Offering were distributed by the team at Uquid Coin as follows:
- 45% for the development of the project
- 30% for the company and the team
- 15% for overhead costs
- 5% for the legal department
- 5% for marketing
The Uquid Coin debit card
Uquid has taken on the simple yet ambitious task of connecting the worlds of cryptocurrencies and traditional currencies.
Customers can send a growing number of supported cryptos to Uquid, where the amount is instantly converted to USD, GBP or EUR and loaded onto a Visa debit card. You can use the Uquid debit card in locations where Visa is supported, as it is also a Visa card.
Note that due to the suspension of licenses by Visa and Mastercard, Uquid no longer issues bank cards, unlike Transferwise or Cex.io which are European companies (UK) and therefore not suspended.
The debit card issued is from the same provider – Wave Crest, licensed in Gibraltar – as most other bitcoin debit cards, such as Xapo and Wirex to name two.
What is different, however, is the transparency of Uquid’s fees. Unlike the competition, which usually hides 2.5-3% tax fees, Uquid takes only 0.5% on tax, and an additional 1% on bitpay, which offers the best exchange rates to customers on multiple exchanges.
An additional advantage is an anonymity. There are customers who create hundreds of essentially disposable virtual cards, load one up until the limit is reached and then move on to the next when the limit is reached. An email is essentially all that is needed for that.
The Future of Uquid Coin
The company faces major changes in the future. By 2022, it should even come to the point where a direct payment from the wallet via a banking institution becomes possible. The payment option via UQC will also be introduced in numerous online stores.
In this way, Uquid Coin wants to increase its share of the market, increasing the chance that more and more people can no longer ignore this project, and will start using it. You can imagine that that can only benefit the price of Uquid Coin.
How do you use UQUID?
UQuid does not currently offer a Bitcoin wallet, although it is in the development phase. This means that when a cryptocurrency is transferred to UQUID, it will be exchanged into the currency of your choice on your payment card. This has positive and negative consequences for the customers and users of UQUID.
The system is designed in such a way that you can keep your currency on your chosen wallet – which many will prefer for security reasons. Some will also prefer to send a hefty amount of altcoins in advance so that there is enough money on the payment card to last for a while.
However, for others who prefer to transfer just enough to cover a particular shopping trip or need, each transfer requires additional mining fees, and confirmation delays are likely to prevent BTC from being sent as needed at the point of sale or elsewhere.
Is Uquid Coin a Smart Investment?
There are three big reasons to choose UQUID:
- Charging costs are about 50% lower than the competition
- Some altcoins are accepted in direct deposit
- There is a higher level of anonymity than you might find with bigger brands like XAPO. Regardless of your location, if you have bitcoin, you can get a Visa debit card from Uquid.
Of course, you would like to know whether it is wise to invest in UQC. Unfortunately, we cannot answer that. And we are not alone in that. It is important that you base your choice mainly on your own research, and not on what others say. But how do you do that research?
You can use fundamental analysis. With such an analysis you look for all kinds of information about the blockchain and cryptocurrency. For example, you look at who is on the team of the project, how the project works and who the competitors are. Based on this research, you can then determine whether it is wise to buy UQC at the moment. You obviously want to buy UQC when the token is undervalued (meaning it’s too cheap for what it could/should be worth).
It is also possible to carry out technical analysis, in which you go deeper into the figures of the project. For example, consider the price. By recognizing certain patterns from the past in the present, you can make an expectation on what the price is likely to do. You also know whether it is smart to invest in UQC at that time.
Uquid Coin is thus a cryptocurrency. To be precise; it is an ERC-20 token, which runs on the Ethereum blockchain. This token, whose standard is related to the Ethereum blockchain, aims to contribute to the development of the project. The end goal for users is to make it easy for them to earn and spend cryptocurrencies.
There is also a payment card from Uquid Coin. Users and merchants can use the card to receive money and make transactions. Users can pay their bills, make purchases online, as well as everyday purchases in brick-and-mortar stores, pay for their Wi-Fi connection, etc.
This can range from simple bill payments to pharmacy receipts and even transport tickets. The possibilities are therefore numerous. It is expected that the services will be further expanded in the future. For example, the platform already offers a range of e-wallet solutions as well as mobile top-ups. So, users can turn to Uquid Coin for various reasons.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com