As we have discussed previously at Cointelegraph, there are multiple Bitcoin debit card options on the market, some better than others, depending upon your location and economic needs. However, the altcoin market, whose combined value reaches into the blns of USD worth, has not reached this level of mainstream sophistication. That is until now.
Altcoin fans can now use their favorite cryptocurrencies to load a virtual VISA card, thanks to Uquid. In a world first, users can spend using over 40 different cryptocurrencies on mobile top-ups, bill payments, pharmacy and food vouchers, transportation tickets, wi-fi recharges and PIN-less calls.
Uquid’s Visa debit card is also the first in the world to offer unlimited loading and spending without ID verification. On top of that, users can load cards with a huge selection of the most popular altcoins, including Ethereum, Ripple, Litecoin, Monero, Dash, Augur, MaidSafeCoin, Steem, Dogecoin and more.
The main benefits of the Uquid card includes no identification or credit check required, instant issuance and free worldwide delivery, unlimited card support and zero percent point-of-sale fees. Customers can also get virtual cards denominated in GBP, EUR or USD. Debit cards come with AVS matching and the Uquid card can also be reloaded from any payment processor worldwide.
“The goals of the Uquid altcoin card is to help altcoin users turn their coin into cash and use services instantly,” said Tran Hung, founder and CEO of Uquid, to Cointelegraph. “This is a part of Uquid's goal, which brings all crypto people closer and faster with real shopping products and services. This is included in our plan to integrate Uquid into real shops, where customers can make an instant payment with altcoins.”
Uquid users can also instantly recharge any mobile phone number in 150 countries. A Uquid-only feature allows users to customize the name and phone number receivers see, as well as personal messages. Over 600 mobile operators worldwide accept these services. I asked Mr. Tran how the actual set-up of the card would take place.
“Firstly, the customer would need to make a deposit to their Uquid account balance using altcoin - at the moment we do not yet offer support for wallets, therefore, their coin will instantly convert to fiat money in USD, EUR or GBP. After making a deposit with an altcoin, customers can get an instant virtual debit card from their account or order a plastic card with free delivery to over 170 countries. The cost for the virtual card is only $1 or €1 or £1.”
There’s a lot more to payments than just cards and mobiles, though. For example, Uquid covers all kinds of daily spending necessities for a range of essential goods and services. These include grocery and pharmacy vouchers, instant payments, bill payments, PIN-less phone calls for U.S. customers and other bundled services.
Uquid’s instant, non-reversible transactions may make life easier for freelancers, gamblers, general shoppers and, of course, altcoin miners. With Uquid’s worldwide network of local exchange partners, there’s always a way to use your digital and national currencies, whichever is more convenient for you to use.
Hopefully, this is a step in a direction where more services are catered to the altcoin market, and the entire digital currency market expands in kind, which should keep more investment funds in the greater decentralized digital currency community.