Uquid Card Review
A common argument for regular money (also known as fiat currency) as opposed to cryptocurrency is that you can’t use cryptocurrency to buy groceries and other everyday items. Well, through the use of a cryptocurrency debit card, you can. This is a review of Uquid Card, one of the crypto debit cards out there.
In order to get a Uquid Card, you must first create a Uquid account. When trying to create a Uquid account at their website on 13 January 2021, we were redirected to the exchange OMGFIN. Accordingly, it seems as if OMGFIN has purchased Uquid's trading platform branch. We can however not find any connection between OMGFIN and the Uquid Card on OMGFIN's website, so we are unsure of the current connection between those two companies.
Uquid comes as a VISA-card. This means that you can use it anywhere where VISA-cards are accepted and withdraw cash from more than 34 million cash machines across the globe.
As main advantages with the card, the company highlights that the process of acquiring a card is smooth, that you will receive it quickly and that it's secure. These are all important advantages for most users.
Anyway, there are apparently two types of Uquid Cards, the Bitcoin debit card and the altcoin debit card. The Bitcoin debit card only supports Bitcoin, so no surprise there. The altcoin debit card, however, supports close to 100 different altcoins. This is more than any other cryptocurrency debit card in our crypto debit card list.
With respect to fiat currencies, Uquid Card supports EUR, GBP and USD.
US-investors may not use this card. So if you’re from the US and you’re looking for a crypto debit card, please refer to our Crypto Debit Card List to find one for you.
On its website, Uquid presents a clear overview over to what extent you may use the card. The overview details the different maximum limits etc. The limits vary dependent upon whether you are a Silver-user, or a Gold-user. What user-level you have depends on how much personal information you have provided to the company (i.e., your achieved KYC-levels). This is the overview:
Picture of Card
Uquid Card Fees
Uquid Card’s fees are in line with industry average. There are of course fees involved in using it, but these are not deterrent to using it in our opinion.
The monthly fee is USD 1.00 (quite standard).
There is an issuance fee set to USD 16.99 which is also in line with industry average.
ATM-usage results in a fixed fee of USD 2.50 per each withdrawal. This might be disadvantageous in countries where the normal ATM-machines only allow smaller withdrawals (USD 20 for instance). In such scenarios, in order to withdraw a larger amount you need to withdraw several times, thus triggering the fixed fee each time. Usually, however, you can go to a bank to withdraw higher amounts in a more efficient manner.
Furthermore, the most important fee of them all, is the commission on purchases. According to our information, Uquid Card doesn’t charge any commission on spending at all. This is very competitive and consumer friendly.
There is no minimum deposit, but the maximum deposit is USD 20,000 (for KYC Level 2). If you need a card with higher maximum deposit limits than that, don’t worry. Just have a look in our crypto debit card list to find another card for you.
If this is the cryptocurrency debit card for you, congratulations.
If not, check out one of the other epic cryptocurrency debit cards in our crypto debit card list. Good luck!