FAQ

WHAT IS U.CASH?

U.CASH is a peer-to-peer network of retail service providers (converters) combined with online and mobile applications (apps) targeted towards providing financial empowerment. It lets anyone in the world access bank-like services without actually interacting with a bank.

UCASH is also the name of the network’s native currency, UCASH. UCASH is used to facilitate efficient peer-to-peer transactions in a distributed manner. It is also used as network fuel, to pay for financial services of all types. It is built using its own blockchain implementation for access to robust smart-contracts and cheap transaction capabilities.

By buying UCASH, you are pre-paying for U.CASH financial services. U.CASH is available globally, supports over 50 currencies, including Bitcoin and other cryptocurrency.

It will be listed by the time the IBO period is complete.

The U stands for Universal. U.CASH means Universal Cash.

U.CASH is global. Our mission is to make peer to peer financial services available across the world. As of now, we are supporting 54 national currencies,as well as Bitcoin and other cryptocurrencies. Bank account support is live for converters that accept bank deposits. And you may look for U.CASH converters in your city through our app. We are constantly working on developing bank account integration in new countries, and in broadening the reach of our converter network. If you would like to request a converter in your region, or add your bank to our list, please do let us know at [email protected]

You can use U.CASH for sending and receiving money, requesting payments and withdrawing funds, paying bills, taking out loans, buying/selling cryptocurrency, buying/selling goods, investing, foreign exchange, and more, anywhere in the world just from your smartphone. With U.CASH, you can deposit funds into your U.CASH wallet through a converter, your bank account, or through any 3rd-party cryptocurrency wallet.

Seventeen.

U.CASH is a peer to peer money transfer network. UCASH is the name of the currency.

U.CASH is set at 100 U.CASH per dollar during the IBO. When it starts trading on the exchanges the price of U.CASH will be determined by supply and demand on the markets.

U.CASH is used as fuel, to pay for financial services of all types on the network. This means that there is a constant demand for U.CASH and upwards pressure on the price, as long as U.CASH services are being used.

U.CASH is the world’s first digital fiat agnostic, cryptocurrency agnostic, and blockchain agnostic, peer to peer money transfer network. U.CASH converters represent a global, shared network of consumers helping each other easily deposit/withdraw cash, and access financial services from the U.CASH app anywhere in the world.

U.CASH combines the power of cash with global, instant transactions. It lets you manage your money currencies from different countries in one app. It lets you cheaply convert cash to digital currency in country A, travel to country B, and convert your digital currency back into local cash.

There are multiple reasons.

  1. The U.CASH platform lets you store value locked to non volatile fiat currencies.
  2. UCASH Distributes value of the network to all U.CASH contributors, including core team, community members, bounty hunters and others, letting them share in the success of the network.
  3. UCASH exists on multiple blockchains, and lets users access cross blockchain functionality with one currency

Your money is held on the U.CASH wallet. Your U.CASH wallet is held privately on your computing device. The U.CASH wallet is a non-custodial cryptocurrency and digital fiat wallet that allows you to see the value of your funds in any world currency you choose. U.CASH has no access (ever) to the private keys that reference your funds. The U.CASH model is 100% peer-to-peer, with no middle man ever holding, managing or touching your funds at any point in any transaction. In order to safeguard the funds held on your U.CASH wallet, it's imperative to create a backup and save your recovery phrase in a safe place in the event your phone gets broken, stolen or the app gets deleted by accident.

Yes. You can store UCASH externally as ERC223 tokens in ethereum wallets, and on other token platforms (Rootstock, Waves, Counterparty and more) as soon as we make UCASH available on those platforms.

U.CASH uses modern encryption technology to secure your digital assets. Also, when you transfer using U.CASH, your recipient does not receive any sensitive financial information such as your bank account number.

U.CASH is powered using a combination of digital currencies, multi-signature escrow, and smart-contracts with distributed data storage, that all allow access to a globally compatible worldwide network.

Yes. U.CASH is a decentralized wallet as you have full access over your cryptocurrencies such as Bitcoin (you get a private key). U.CASH has no access to the user’s private key ever, even in the instance where the consumer chooses to hold US dollars.

As your U.CASH wallet is held privately on your phone, you have no account hosted with us.

The following information is stored on U.CASH's servers:

  • Your profile information (name, email address, phone number), all of which can be edited from the 'Menu' on the U.CASH app.
  • A link between your phone number and the public key of your U.CASH wallet(s)

The following information is publicly available on the Bitcoin blockchain:

  • Your public key (though your profile information -- name, email address, phone number is not posted on the blockchain).
  • Your transaction history.

Please note you can edit your profile information at any time

U.CASH operates locally in Canada, and is a corporation organized and existing under the laws of Ontario, Canada. For any additional questions, please email us at [email protected]

GETTING STARTED

Users and converters can access U.CASH via a web browser or our mobile apps (coming soon). Create an account with an email address and password. From there you will be prompted for additional information (such as phone verification and identification) should you decide to increase your account levels to unlock higher transaction limits and capabilities.

U.CASH requires the following to work:

  • A computing device (computer, tablet, smartphone)
  • Internet access through wifi or mobile data

In order to recover your wallet, you need your recovery/backup phrase or your email address and password ready. If you lose your phone, delete the U.CASH app accidentally or can't access your wallet for any reason, you can restore the funds of your lost/ wallet into your new wallet.

You are the only one who will have access to the recovery phrase, and you will need it to retrieve your U.CASH wallet if your device is ever lost or stolen, or your app deleted.

Your U.CASH wallet is held privately on your device. Our company never has access to your funds, or the associated recovery phrase. Thus if you lose your recovery phrase, you are at risk of losing all funds in the corresponding U.CASH wallet. Users are strongly advised to write down their recovery phrase, and store it in a secured location, to avoid losing access to their funds.

Buying digital currency with U.CASH is very simple, and after you have created an account, it involves two steps:

  1. Fund your U.CASH wallet. You can fund your wallet via cash, bank deposit, Western Union, cryptocurrency, or any other payment option accepted via your local converter.
  2. Once the funds reach your U.CASH wallet, convert your U.CASH digital fiat balance to any cryptocurrency available and voilà, You now own digital curency.

USER VERIFICATION

  • Level 0 requirements
    • E-mail address & password
  • Level 1 requirements
    • Upto $1,000.00 USD (or equivalent) per day
    • Upto $10,000.00 USD (or equivalent) per month
  • Level 2 requirements
    • Upto $10,000.00 USD (or equivalent) per day
    • Upto $100,000.00 USD (or equivalent) per month
  • Level 3 requirements
    • Upto $50,000.00 USD (or equivalent) per day
    • Upto $500,000.00 USD (or equivalent) per month

*High-volume & business user levels available


CONVERTER VERIFICATION

  • Level 0 requirements
    • E-mail address & password
  • Level 1 requirements
    • Upto $1,000.00 USD (or equivalent) per day
    • Upto $10,000.00 USD (or equivalent) per month
  • Level 2 requirements
    • Upto $10,000.00 USD (or equivalent) per day
    • Upto $100,000.00 USD (or equivalent) per month
  • Level 3 requirements
    • Upto $50,000.00 USD (or equivalent) per day
    • Upto $500,000.00 USD (or equivalent) per month

*High-volume & business user levels available

These are U.CASH's transaction limits (note that you can increase your transaction limits by increasing your verification levels):

USER VERIFICATION LEVELS

  • Level 0 Limits
    • Upto $250.00 USD (or equivalent) per day
    • Upto $2,500.00 USD (or equivalent) per month
    • Upto $7,500.00 USD (or equivalent) lifetime limit
  • Level 1 Limits
    • Upto $1,000.00 USD (or equivalent) per day
    • Upto $10,000.00 USD (or equivalent) per month
  • Level 2 Limits
    • Upto $10,000.00 USD (or equivalent) per day
    • Upto $100,000.00 USD (or equivalent) per month
  • Level 3 Limits
    • Upto $50,000.00 USD (or equivalent) per day
    • Upto $500,000.00 USD (or equivalent) per month

*High-volume & business user levels available


CONVERTER VERIFICATION LEVELS

  • Level 0 Limits
    • Upto $1,000.00 USD (or equivalent) per day
    • Upto $5,000.00 USD (or equivalent) per month
    • Upto $15,000.00 USD (or equivalent) lifetime limit
  • Level 1 Limits
    • Upto $2,500.00 USD (or equivalent) per day
    • Upto $15,000.00 USD (or equivalent) per month
  • Level 2 Limits
    • Upto $25,000.00 USD (or equivalent) per day
    • Upto $250,000.00 USD (or equivalent) per month
  • Level 3 Limits
    • Upto $150,000.00 USD (or equivalent) per day
    • Upto Upto $1,500,000.00 USD (or equivalent) per month

*Bronze, silver & gold teller levels available

To change the currency in your U.CASH wallet to Bitcoin, please follow these steps:

  • In your U.CASH account, to the main screen
  • Click/tap: the icon on the upper left corner to go to the menu screen
  • Click/tap: 'Wallet Currency'
  • Click/tap: your current U.CASH wallet currency option
  • Click/tap: the desired currency option
  • Check the exchange rate used for conversion
  • Click/tap: Done

Note that you can change your wallet currency to any digital fiat or digital currency denomination.

As of now, we support the 54 currencies below, in addition to Bitcoin and Ether. We will be adding new fiat currencies and digital currencies over time.

Country

Currency Name

Currency Code

Argentina

Argentine Peso

ARS

Aruba (Kingdom of the Netherlands)

Aruban guilder

AWG

Australia

Australian dollar

AUD

Bahamas

Bahamian dollar

BSD

Barbados

Barbados dollar

BBD

Brazil

Brazilian real

BRL

Bulgaria

Bulgarian lev

BGN

Canada

Canadian dollar

CAD

Chile

Chilean peso

CLP

China

Chinese yuan renminbi

CNY

Colombia

Colombian peso

COP

Costa Rica

Costa Rican colon

CRC

Croatia

Croatian kuna

HRK

Curacao (Netherland Antilles)

Netherlands Antillean guilder

ANG

Czech Republic

Czech koruna

CZK

Denmark

Danish krone

DKK

Dominican Republic

Dominican peso

DOP

Eurozone (various countries)

Euro

EUR

Grenada/Saint Vincent and the Grenadines

East Caribbean dollar

XCD

Guatemala

Guatemala quetzal

GTQ

Haiti

Haitian gourde

HTG

Honduras

Honduran lempira

HNL

Hong Kong

Hong Kong dollar

HKD

Hungary

Hungarian forint

HUF

Iceland

Icelandic króna

ISK

India

Indian rupee

INR

Indonesia

Indonesian rupiah

IDR

Israel

Israeli new shekel

ILS

Jamaica

Jamaican dollar

JMD

Japan

Japanese yen

JPY

Malaysia

Malaysian ringgit

MYR

Mexico

Mexican peso

MXN

New Zealand

New Zeland dollar

NZD

Nicaragua

Nicarguan córdova

NIO

Norway

Norwegian krone

NOK

Paraguay

Paraguay guaraní

PYG

Peru

Peruvian nuevo sol

PEN

Philipppines

Philippine peso

PHP

Poland

Polish zloty

PLN

Romania

Romanian new Leu

RON

Saint Lucia

East Caribbean dollar

XCD

Singapore

Singapore dollar

SGD

South Africa

South African rand

ZAR

South Korea

South Korean won

KRW

Sweden

Swedish krona

SEK

Switzerland

Swiss franc

CHF

Taiwan

New Taiwan dollar

TWD

Thailand

Thai baht

THB

Trinidad and Tobago

Trinidad dollar

TTD

Turkey

Turkish lira

TRY

United Arab Emirates

UAE dirham

AED

United Kingdom

Pound sterling

GBP

United States

US dollar

USD

Vietnam

Vietnamese đồng

VND

All U.CASH transactions are verified by the blockchain - that's how we ensure that the money you're sending is yours to send. It's one of the ways we prevent fraud in the system.

It can take up to 20 minutes (usually less) from the time digital money gets transferred to the time this transaction is verified. Until U.CASH gets verification that the transaction is a valid and unique one, you won't be able to send or withdraw the funds in your U.CASH account If you continue to experience trouble, please let us know at [email protected] .

To see a list of your past and current transactions, please follow these steps:

  • Open your U.CASH account, to the main screen
  • Click/tap: 'Transaction History'
  • Click/tap: on any transaction to see details

We do not officially support using the same U.CASH wallet on two different phones since each account is distinct via and email address/phone number combination.

Access to U.CASH via a web browser needs an email address and password, therefore as long as your remember that you can login using any device.

For the U.CASH mobile apps, to switch your U.CASH wallet from one phone to another phone, you will want to apply the recovery phrase from the first device, and enter it into your second device. Instructions for recovering your old U.CASH wallet will be provided when you download the U.CASH app onto your new device:

For U.CASH accounts via a web browser, you can delete your account in the “My Accounts” section.

As your U.CASH wallet is held privately on your phone, you have no account hosted with us. To delete the U.CASH wallet app from your phone, simply delete the app as you were to for other mobile apps.

U.CASH gets its fiat-currencies prices from live mid-market rates pulled from Google Finance as well as sources such as XE and others.

DEPOSITING AND WITHDRAWING

Your U.CASH wallet is global and flexible. You can deposit to and withdraw from your account via the U.CASH converters network or your own digital currency (such as Bitcoin).

Buying digital currency with U.CASH is very simple, and after you’ve created a U.CASH account, it involves two steps:

  1. Fund your U.CASH wallet. You can fund your wallet via the U.CASH converters network or your own digital currency (such as Bitcoin).
  2. Once the funds reach your U.CASH wallet, convert your digital fiat balance to any cryptocurrency available.

You can deposit and withdraw to and from your U.CASH account via the U.CASH converter network, specifically those converter who have enabled deposits/withdrawals to and from their bank.

To deposit into your U.CASH wallet using an U.CASH converter, please do the following:

  • Open your U.CASH account, to the main screen
  • Click/tap:‘Add Funds’ (fiat-denominated wallets) OR ‘Buy Digital Assets’ (digital currency-denominated wallets)
  • Click/tap: 'Cash'
  • Fill screen info: Amount you want to transact, email, comments.
  • Set your desired location
  • Click/tap: 'Continue'
  • Verify your details/info
  • Click/tap:Submit

Please note the above process is our U.CASH converter concierge model and it may take 1-2 business days (most times it’s instant), depending on availability, to get back to you with a trusted converter near you.

Yes, any U.CASH user can deposit/withdraw cryptocurrency via third-party cryptocurrency wallets, regardless of the currency their U.CASH wallet is set to.

For person-to-person sending, U.CASH notifies transfer recipients of their incoming amounts immediately. The funds will be accessible within an hour, and in most cases, within 10 minutes.

For deposit and withdrawal transactions the standard processing times are as follow:

  • For bank deposits and withdrawals via U.CASH converters, 1-3 business days.
  • For cash deposits and withdrawals via U.CASH converters, instant.
  • For digital currency deposits and withdrawals via 3rd-party apps, upto 20 minutes.

You set your U.CASH wallet default currency when you create your account, which you can change at any point). If your wallet currency is set to USD (or a currency different from the currency your bank account is in), a deposit will remain in the denomination you received it as. You will be able to view all digital fiat and digital currency balances in your account, in addition to seeing your default currency balance.

While most customers will not need to provide any documentation, in select cases we may be required to ask for additional documentation, which will vary from customer to customer. If additional documentation is required from you, we will let you know via app notification or via email.

We accomplish Value Locking through smart-contract based locking, foundation powered locking, and token based locking to offer clients security, redundancies, as well as options according to their verification level.

  1. Smart Contract Based Locking: Smart-contract based locking is a form of scripted automatic updates to multi-signature wallets that maintain a digital currency balance (such as Bitcoin) that is equal to the U.CASH fiat currency value (ie. USD, CAD, EUR, INR, etc.) the users of the platform are locked in at. Liquidity providers guarantee certain amount of funds in real-world financial contracts with U.CASH Inc. and its users, and U.CASH allows for these providers to participate in the long-term value increase of digital currencies, without having the risk of holding the actual digital funds themselves.
  2. Foundation Powered Locking: The uCash Foundation will participate in the buying & selling of other digital assets as well as holding balances with its partner exchange network to provide a part of the value locking guarantees for certain users.
  3. Token Based Locking: U.CASH Inc. in partnership with external service providers has enabled the capability to hold non-blockchain based digital tokens representing fiat currencies, starting with CAD (Canadian Dollars). These digital tokens will be backed using Canadian Bonds, and/or Canadian Dollar balances in accounts with the beneficiary being the token holders.

SENDING AND RECEIVE DIGITALS FUNDS

  • Go to main menu
  • Click/tap: "Send Digital Assets"
  • Choose a contact or input a mobile number
  • Enter the desired amount
  • Review & confirm
  • Click/tap: Send Digital Assets

Note: The contact must have an U.CASH wallet in order to show up under contacts. If the user does not have an U.CASH account, the app will send a text message to their contact, prompting them to create an account.

Request payment from other users by following these steps:

  • Open your U.CASH account and on the main screen,
  • Click/tap: 'Request Digital Asset Payment'
  • Choose a contact and the desired request amount
  • Click/tap: 'Next'
  • Click/tap: 'Send Digital Asset'

Your recipient will be prompted to accept or reject the payment request the next time he or she opens their U.CASH account, while connected to the Internet.

Click/tap: Send and scroll down to see whom in your contact list has U.CASH.

Keep telling your friends and family about U.CASH, so you can easily transact with.

U.CASH is free to use, and is available via any web browser, the App Store and Google Play (coming soon). Tell your friends and family about it, and transact with each other.

Before a user can transact with his or her recipient, the recipient will need to create a U.CASH account, and register his/her phone number.

Payment requests come from merchants and other U.CASH users, to enable you to easily transfer funds from your U.CASH wallet at the initiation of the requester. When you receive a payment request you have two options to choose from:

  • You can approve the payment request, and the specified funds will be transferred to the recipient with funds from your U.CASH wallet.
  • You can reject the payment request, no funds will be transferred, and your U.CASH balance will remain the same. If you do not have enough funds to approve the payment request, you will be prompted to reject the request.

Sending digital currency, such as Bitcoin, with U.CASH is the same as sending any other currency. If your recipient's wallet is in Bitcoin, he/she will receive the funds in Bitcoin, regardless of the currency your wallet is in.

Yes. U.CASH will automatically receive cryptocurrency and remain in that denomination.

You must be connected to the internet to receive a payment request prompt from the U.CASH app. Without Internet, the prompt will not be triggered. When you receive the payment request prompt, you will have the option to approve the payment request if you have sufficient funds in your U.CASH wallet. Simply press Approve to complete the payment. If you do not have enough funds to approve the payment request, but do not wish to reject the request, you can also exit the app and await incoming funds (either through depositing via a bank, or by receiving funds from another individual). After enough funds arrive and are made available to your U.CASH wallet, you can re-open the app to retrieve the original payment request prompt, and you will be able to approve the transaction.

Although there is no limit to the number of people one U.CASH user can send to, all transfers must be initiated one at a time, for now. U.CASH is building smart contract capabilities that will allow for multi-functional uses such as paying multiple people with one payment.

For person-to-person sending, U.CASH notifies transfer recipients of their incoming amounts immediately. The funds will be accessible within an hour, and in most cases, within 10 minutes.

For deposit and withdrawal transactions the standard processing times are as follow:

  • For bank deposits and withdrawals via U.CASH converters, 1-3 business days.
  • For cash deposits and withdrawals via U.CASH converters, instant.
  • For digital currency deposits and withdrawals via 3rd-party apps, upto 20 minutes.

All U.CASH transactions are completed as fast as possible. There is no separate option to "rush" a transaction any faster.

  • Open your U.CASH account, to the main screen
  • Click/tap: the icon in the upper left to go to the menu screen
  • Click/tap: Wallet Currency
  • Select the currency you wish to convert to
  • Click/tap: Next
  • The next screen, "Convert Balance," will show a conversion rate at bottom (Your wallet must have a balance to see an exchange rate)

FEES

Users can find and compare any U.CASH converter's fees using the U.CASH app.

To find the fee amount at convenient converter locations, proceed with the following steps:

  • Open your U.CASH app, to the main screen
  • Click/tap: the icon in the upper left to go to the menu screen
  • Click/tap: the “Withdraw Funds” button.
  • Click/tap: the “Deposit Funds Offline” button
  • Find and select a nearby U.CASH converter to view their profile
  • For any U.CASH converter, the fee charged will be the larger of (1) the minimum fee, and (2) the listed percentage of the total transaction amount.

Fees are set by U.CASH converters. Below are example fees charged by converters and earned by U.CASH.

FUNDS LOAD/UNLOAD (3% additional charged to customer):
Converters (Globally) - The higher of 21% of the fees charged by the teller or 0.3% of total transaction, paid to U.CASH

RETAIL BITCOIN BUY/SELL (4% additional charged to customer):
Converters (Globally) - The higher of 21% of the fees charged by the teller or 0.3% of total transaction, paid to U.CASH

ONLINE DIGITAL CURRENCY CONVERSION:
Users (Globally) - 0.8% fee for the value of the conversion between a U.CASH balance and digital currency.

U.CASH USER LOAN ORIGINATED (from 10% to maximum regulated interest for customer):
Converters (Canada) - 3.0% of the total amount loaned is payable to U.CASH at loan issuance.

CONVERTER CUSTOMER LOAN ORIGINATED:
Converters (Canada) - 0.3% of the total amount loaned is payable to U.CASH at loan issuance.

IN-PERSON BILL PAYMENTS ($3.00 additional charge for customer):
Converters (Canada) - 21% of the fee charged by the teller is paid automatically to U.CASH at transaction time

ONLINE BILL PAYMENTS:
Users (Canada) - $2.00 CAD fee charged to the U.CASH user. 21% of fee goes to registering teller.

1) U.CASH never charges a fee for bank withdrawals. Some banks may charge a small fee for incoming transfers.
2) Digital currency fees are required to ensure your transaction is confirmed by the cryptocurrency mining network, and fluctuates based on volume on the network. U.CASH does not profit from it.

Note that the above are example fees and that converter fees vary from geographical area to area.

The uCash exchange rate is determined on the market on exchanges where it is traded. Instructions for checking the foreign exchange conversion rate:

  • Open your U.CASH app, to the main screen
  • Click/tap: the icon in the upper left to go to the menu screen
  • Click/tap: the “Withdraw Funds” button.
  • Click/tap: the “Deposit Funds Offline” button
  • Find and select a nearby U.CASH converter to view their profile
  • For any U.CASH converter, the fee charged will be the larger of (1) the minimum fee, and (2) the listed percentage of the total transaction amount.

For digital currency withdrawals from your U.CASH wallet to an external digital currency wallet, we charge a network fee. This fee is required to ensure your transaction is confirmed by the digital currency mining network, and fluctuates based on volume on the network. U.CASH does not profit from it. We currently select a high-priority fee, to ensure fast confirmation on the blockchain. To perform a digital currency withdrawal, you need to have enough funds to cover the network fee.

There are small fees for depositing cryptocurrency from a third-party wallet onto your U.CASH wallet. Withdrawing cryptocurrency from your U.CASH wallet onto a third-party wallet will also incur a network fee (This fee is required to ensure your transaction is confirmed by the bitcoin mining network and fluctuates based off of volume on the network. U.CASH does not profit from it).

When you add funds using cash at an U.CASH converter, the converter charges a small service fee. Converters set their own fees, which are visible within the U.CASH app, so you always know how much you are going to pay. When you withdraw funds in cash at an U.CASH converter, the converter charges a small service fee.

CONVERTERS

The U.CASH app allows qualified individuals to become a U.CASH converter. Converters perform ubiquitous mobile U.CASH transactions, help users fund their U.CASH accounts (cash, bank deposit, Western Union, and more) or withdraw from their U.CASH account (to cash, bank account, and more). Converters will conduct face-to-face transactions with users from an agreed meeting place, or at their store location based upon converter's own fees per transaction and operating hours. Multiple types of converters exist, including:

  1. Master Converters: Provide U.CASH liquidity to other converters in local areas or countries as well as offer financial services. Master converters will initially be large money service business partners and other highly capitalized entities, but we will expand to include other financial institutions over the coming months and years.
  2. MSB Converters (Money Service Businesses): Single store, or multi-store brands which offer traditional money service business activities as well as online companies whose user base could benefit from U.CASH.
  3. Retail Converters (Storefronts): Businesses who have store-front locations that want to offer U.CASH services. They can be any type of business including convenience stores, computer stores, cell phone shops and more.
  4. Individual Converters (Any Users): These are individual users that want to earn extra income by providing basic U.CASH services to people in their neighbourhoods or online.
  5. Mobile Converters: Will provide services by coming to your location. The mobile converter could also be an MSB, retail or even individual providing U.CASH access.

Open your converter map and see available converters in your area with their available services. After initiating a converter service request you will be asked for more details about the type of transaction you want to do, amount of money you want to transact, your preferred meeting location, your email, along with any notes. In the notes section, you may add any additional requests, from your own availability to changing your preferred meeting location. All this is done live.

If you need to change the location, just drag the marker to your preferred meeting location, and then press ‘Set preferred location’. (However, you and your converter can change the meeting location at a later point in the transaction process, if needed.) Once you’ve entered all the information, press ‘Continue’, and a confirmation screen will appear.

We are global and we are excited to partner with individual converters in select countries.

To become an individual U.CASH converter, please do the following:

  • Open your U.CASH app, to the main screen
  • Click/tap: 'Become a Converter' in the main menu
  • Click/tap: 'Allow' for the app to access your location while you use the app
  • Click/tap: 'Select Location' if map pin shows desired location, otherwise type the address you will use
  • Click/tap: 'Save' after verifying your meeting point
  • Click/tap: 'OK' after providing requested information on previous screens
  • Wait: 'Converter Application Under Review' option will remain greyed out until you application gets approved.
  • Once approved, a new section called “Converter Options” will be added to the top of the main menu

To sign up to become a converter, please follow these steps:

  • Open your U.CASH app, to the main screen
  • Click/tap: the icon on the upper left corner to go to the menu screen
  • Click/tap: 'Become a Converter' and enter in the subsequent information
  • Click/tap: Done

Your U.CASH app will show the 'Converter Application Under Review' message option greyed out under the Main menu. That will indicate that your information has been received on our end and we will contact you at a later time to proceed with signup.

After you sign up to become a converter, your U.CASH app will show the 'Converter Application Under Review' message option greyed out under the Main menu. That will indicate that your information has been received on our end.

We will be reviewing and approving applications selectively, depending on a number of factors. Once approved, a new section called “Converter Options” will be added to the top of the main menu.

In addition to users and tellers rating each other after every transaction, we love hearing about our users' experiences with U.CASH converters. Please share your stories with us at [email protected]

Converter transaction currency is the default currency you will use for your customer transactions as an U.CASH converter. You can view and update your default converter transaction currency at any time.

The converter Transaction Currency can be changed and viewed from the main screen menu as follows:

Wallet Currency:

  • Open your U.CASH app, to the main screen
  • Click/tap: “Account Options” and go to 'Wallet Currency'
  • You can view your current converter Transaction Currency
  • Click/tap: 'Change default currency' and follow below steps to update it

Yes, as an approved U.CASH converter, any incoming digital asset will be received in that denomination.

To be an U.CASH converter, we suggest you to comply with your country regulations. In the US, there are Federal and State regulations, which may include the need for an MSB registration. However, please note that U.CASH does not provide legal advice, and you should seek individual legal advice for your specific situation.

Yes, as an approved U.CASH converter, any incoming digital asset will be received in that denomination.

Only your approved service ads will appear to users and other tellers. If you want to remove yourself as a converter, it’s as simple as change your ad status from “Active” to “Inactive”

MERCHANT

U.CASH merchants are e-commerce merchants and sellers that accept U.CASH as a payment method from their customers. The benefits of the platform are significant:

  1. Lower fees and no chargebacks
  2. Reduced returns, increased checkout retention and faster settlement
  3. Better access to unbanked and cross-border customer segments

To find out more about becoming an U.CASH merchant, please contact your U.CASH business development representative or reach out to us at [email protected]

To become an U.CASH merchant, simply create an account and begin taking payments.

CRYPTOCURRENCIES

U.CASH will implement a network fee for fiat or bitcoin transfers into external wallets. This fee is required to ensure your transaction is confirmed by the bitcoin mining network. U.CASH does not profit from it. You will always be able to check the rate on the app before completing your transaction. The network fee you will pay on transactions to outside wallets is calculated dynamically at the time the transaction is created. This means the fee could be higher during peak volumes.

The same way that email is a protocol for sending messages to any computer using the internet, Bitcoin and cryptocurrencies are protocols for sending money to any computer or mobile device using the Internet. The Bitcoin protocol has a built-in currency, also called Bitcoin, that is used to pay volunteers who use their computing power to help secure Bitcoin transactions. Bitcoin and cryptocurrencies is an important innovation in the history of money that enables U.CASH customers to send money anywhere in the world where there’s access to the Internet.

Yes, all U.CASH transactions are cryptocurrency transactions that are confirmed on the their respective blockchains.

In addition to using digital currencies to pay other U.CASH customers, you can send digital currency to anyone else who has a digital currency wallet, or shop in person or online with any of the over 100,000 merchants that already accept digital currencies. If you’re unsure, ask your favorite merchant if they accept digital currencies, and if they don’t, let them know that U.CASH can help get them started.

The U.CASH wallet is designed to give you full, exclusive control of your private key. When you first download the wallet, you are prompted to write down a “recovery phrase”: that is your private key. So long as you keep your recovery phrase safe and do not install any malware on your phone, your private key will remain in your exclusive control.

Digital currency deposits from external digital currency wallets will not show up in the U.CASH wallet until the transaction has at least one confirmation on the digital currency’s respective blockchain. Transactions between U.CASH wallets will show up instantly. All transactions must be confirmed on the blockchain before they can be withdrawn to an external account.

All U.CASH transactions are verified by the blockchain -- that's how we ensure that the money you're sending is yours to send. It's one of the ways we prevent fraud in the system.

It can take up to 20 minutes (usually less) from the time digital money gets transferred to the time this transaction is verified. Exceptionally, it may take up to an hour for your transaction to be confirmed, depending on amount and network conditions. Until U.CASH gets verification that the transaction is a valid and unique one, you won't be able to send or withdraw the funds in your U.CASH account If you experience trouble, please let us know at [email protected]

Your digital currency address will change every time you do a digital currency deposit because U.CASH uses hierarchical deterministic (HD) wallets. HD wallets are beneficial for privacy and security, but don't worry - all old deposit addresses will continue to work, and your backup phrase secures ALL your funds no matter which address they have been sent to.

IBO (INITIAL BOUNTY OFFERING)

Initial Bounty Offerings are a way to crowdsource human resources, business development, marketing and user acquisition for blockchain technology ecosystems, by offering network tokens in exchange for contributions to the ecosystem. With the launch of the U.CASH platform, we introduce the world’s first IBO by offering the majority of network access tokens (UCASH) to users through a bounty program, so that people can acquire tokens by contributing their skills and time.

Unfair distribution of ICO tokens to "quick on the trigger" buyers and "whales" with large holdings of digital currencies has lead to markets being manipulated and unfair benefits being given to these early individuals. Regular users are left out as these ICOs raise millions of dollars in digital currencies within minutes and the future health of the network is adversely affected.

Yes you can! You can work for your tokens instead! Take a look at all the available bounties.

The distribution of the UCASH tokens will be done over a 30 day Pre-IBO period for early contributors, followed by a 120 day IBO period for the general public. Some bounties will expire within this time frame, but some will be open indefinitely.

There are 3 ways to participate: 1) As a contributor you can complete bounty task or projects and receive UCASH in return for your effort and completed work. 2) As a benefactor you can benefact bounties to be completed on your behalf by contributing funds (in the form of cash or cryptocurrency) to a selected bounty and receive UCASH in return. 3) As a user you can complete certain inputs and actions (like verifying your phone number) and receive UCASH.

Three types of bounties exist:

  1. Limited Time: Bounties which will only be available during the IBO period to be claimed. They will include time-sensitive or temporary assignments which will benefit the IBO as well as after.
  2. Unlimited Wait: Bounties which will stay available until such a time they are claimed. As the value of the network increases, these bounties will likely be claimed if not done so already.
  3. Infinite Claim: Bounties which will reward successful bounty hunters forever. A small percentage of the remaining reward in the bounty will be distributed to each claimant.

What if I can't find suitable bounties for myself

If you don’t see any bounties you like, and you can think of new ways to help the Ucash network you can propose new bounties. A small bounty is awarded if your proposal is adopted into the uCash IBO.

This will be possible once we construct our IBO platform, which anyone can use to create their own IBO’s! At the moment there is a very large bounty available for developing the IBO platform. If you can’t wait to start your own bounties, and think you have the development chops to create an IBO platform, this bounty may be for you.

Anyone can contribute to the growth of the U.CASH network, including:

  1. Bounty Hunters: Individuals who actively complete bounties and claim token rewards during the Initial Bounty Offering period.
  2. Benefactors: Individuals who choose to support the U.CASH mission by benefacting certain bounties and receiving the token reward in return.
  3. Builders: People who participate in the bounty offering by building products and services the U.CASH platform requires to live long and prosper.
  4. Users: Users of the network who sign up during the IBO period and receive a nominal amount of tokens as reward to use towards payment for services.
  5. Promoters: Partners, organizations and individuals who claim promotion based bounties that advertise and market the U.CASH platform.
  6. Partners: External networks and platforms, are rewarded tokens for integrating into the network. Services such as exchanges, wallet providers, are incentivized to provide services on the platform.
  7. Administrators: Team members and external users create ideas for bounties and make them available to participants, as well as approve bounty claim submissions where required in the IBO period and beyond.
  8. Community: The community can participate in the IBO by providing ideas for potential bounties as well as promoting and claiming bounties themselves.
  9. Creators: Team members and external users who create ideas for bounties and make them available to participants in the IBO period and beyond.

$3.75 Million for 500 million tokens

This is to prevent too much UCASH being held in a small number of hands. We believe that a successful network means good distribution across many shareholders. It is also to minimize the risk of market manipulation.

All funds raised during IBO are through “benefactors”. Benefactors choose a bounty put their money towards, and all funds donated are then earmarked for the fulfillment of those bounties.

The first business to utilize the uCash technology and creator of the UCASH token is the corporate entity U.CASH Inc., headquartered in Toronto, Canada. The founding team behind U.CASH has researched, developed, deployed, tested and brought to life proof-of-concepts, and onboarded early converters, financial service partners and users. We UCASH Inc. went ahead and structured our organization with a view to the future when virtual currency business regulations come into effect in jurisdictions worldwide, and we plan on complying with all applicable rules and regulations.

U.CASH Ambassadors are our supporters and believers all over the world who help bring alive the U.CASH mission to their geographical area or industry. Ambassadors’ (individuals, groups, organizations, government, and more) level of involvement is up to them, but must be responsible for certain duties as outlined by the U.CASH charter (to be released in the future). High-performing, impactful or growing ambassadors can get grant funding administered by the U.CASH foundation through its endowment fund towards projects, events, marketing. Ambassador responsibilities includes converter marketing, partner sourcing, user marketing and many other roles.

TROUBLESHOOTING

Usually, the confirmation code arrives within 30 seconds. However in some cases, your local telco may "throttle" the rate of messages they allow through their systems. When this happens, it may take up to several hours for the code to arrive.

Unfortunately, when this happens, all we can advise you to do is wait for the code to arrive. Please enter the code as soon as you receive it, because for reasons of security, codes do expire.

If you'd like to help us report these issues to our SMS provider, please send an email to [email protected] with the phone number you used to register for U.CASH, and the time you initiated the SMS verification request.

We recommend waiting ~ 10 minutes and checking again. All transactions have to be verified by the U.CASH system. If you continue to experience problems, please reach out to [email protected]

You can download the U.CASH app on your new phone and use your recovery phrase to restore the funds of your lost phone into your new phone's U.CASH app.

If you denied access to your phone's camera upon first use, you will need to manually grant access.

  • Go to your general mobile device configuration settings
  • Locate the U.CASH app
  • Allow U.CASH to get access to the camera.

You’ll need to make sure your phone time is synced in order for timing to work correctly. Do this by going into your phone Settings -> Date & Time -> check off ‘Automatic Date & Time’ and ‘Automatic Time Zone’

U.CASH GLOSSARY OF TERMS

Address

A Bitcoin address looks like a long string of random letters and numbers. Addresses are used when you want to send or receive Bitcoins. Each wallet has at least one receiving and one sending address. When you want to receive Bitcoins to your wallet you need to give the sender your receiving wallet address.

AML and KYC

Anti-Money Laundering and Know Your Customer is a group of laws in the United States that require Bitcoin sellers to know who their customers are. Certain sellers will ask for your identification to comply with these laws. Other countries around the world may have similar laws and requirements.

Blockchain

The Blockchain is the technology behind Bitcoins. It’s what makes it work. Bitcoin transactions are sent to the blockchain so that miners can put them into the blocks that they mine. Once a block containing your transaction is mined it has been added to the blockchain and your transaction receives one confirmation.

Bitcoin Block

A Bitcoin block is one “link” in the blockchain. One block contains a group of Bitcoin transactions that have been confirmed. When Bitcoin miners ‘mine’ these blocks they calculate through computer algorithms which when put in the blockchain, confirms transctions. In turn miners receive transaction fees and newly created Bitcoins for confirming transactions.

XBT/BTC/Coin

BTC is the acronym for Bitcoin. Coin, coins et. al. are also slang terms for Bitcoin.

Cold storage/Cold wallet

This refers to a way of storing Bitcoins in a safe and secure way, offline. This is also how the vast majority of Bitcoins Ucash hold on to are stored.

Confirmation

For a Bitcoin transaction to be completed it needs to be confirmed. Good habits are to wait for at least 3-6 confirmations before you can consider a transaction good. A confirmation happens when a transaction has been added to a block that Bitcoin miners successfully mine.

Exchange

An exchange is a platform/service where users can change one type of currency for another.

Fiat Currency

Fiat currency is legal tender whose value is backed by the government that issued it. The U.S. dollar is fiat money, as are the euro and many other major world currencies. This approach differs from money whose value is underpinned by some physical good such as gold or silver, called commodity money.

Hot Wallet

The opposite of a cold wallet / cold storage. A hot wallet is located on a computer connected to the internet. At Ucash the hot wallet is where we store a small amount of Bitcoins at a time. It’s from here where your transactions are sent. We only keep a very small amount of Bitcoin here to protect ourselves form hackers.

Mining

This is what Bitcoin Miners do in order to confirm transactions and add them to the blockchain. When a Bitcoin miner mines, he uses computers to do difficult calculations which answers are easily proven to be correct. This way, when a miner completes a calculation anyone can easily see that the miner has actually done work. This work can then be used to create a Bitcoin block. What miners get in return from mining is new Bitcoins and transaction fees.

Multisig

Multisignature (Multisign), often heard in combination with wallet. A multisignature wallet is one that has several cryptographic keys associated with it. This way if you have two of three keys, say, you can move money out of it. But with only one you cannot do anything. In a 3 of 3 key setup, all 3 keys are required to move money out of the wallet.

P2P

Peer-to-Peer. It’s a form of network structure. Rather than having everything go via a centralized node, in a peer-to-peer structure everything goes from user to user. There’s no centralized part to rely on.

EFT

Electronic Funds Transfer.

ACH

Automated Clearing House.

SWIFT

Society for Worldwide Interbank Financial Telecommunications.

SEPA

Single Euro Payment Area, SEPA transfers are a special kind of bank transfers within the EU.

Transaction

A Bitcoin transaction, the actual act of moving Bitcoin from one wallet to another.

Transaction fee

Since the Bitcoin miners work to confirm your transactions, they won’t do this for free. Rather you pay a tiny amount of Bitcoin to them to help them continue to confirm. This is why each time you move Bitcoin, it costs a tiny bit.

txid

Transaction Id. This is a long string of numbers and letters that is the ID of a single transaction. It’s handy to know as you can paste this into a blockchain explorer and see what’s up with your transaction. It’s mainly used to see how many confirmations a transaction has.

Satoshi

A satoshi is the smallest amount of Bitcoin that can be sent, or 0.00000001 BTC.

Satoshi Nakamoto

The pseudonym of the person who invented Bitcoin. No one knows who he is, but he does own quite a nice amount of BTC.

Wallet

The place where you store your Bitcoins. This can be quite confusing to new users, but a wallet is essentially just a Bitcoin address. A Bitcoin wallet can exist on a service such as Ucash, in an app on your phone or computer, or even on a piece of paper! As it’s just a series of numbers and letters it does not matter where it’s stored. It’s completely OK to use your Ucash account as your wallet when you’re still new. But when you start to accumulate more and more Bitcoin you way want to think of different ways to store them.