What is Uphold?
Uphold is a cloud based financial services platform that enables anyone, anywhere in the world to move, convert, hold and transact in any form of money or commodity instantly and securely. In my opinion, Uphold is everything that Coinbase should be and here is why:
- Diversity – Uphold simply offers more options to customers versus Coinbase. Not only are there more cryptocurrency choices, there happens to be a wide variety of circulating currencies as well. This allows a person the capability to send any type of circulating currency across the world, instantly, with no charge.
- 23 currencies are now available including: U.S. Dollars (USD); Euros (EUR); Pounds (GBP); Yuan (CNY); Yen (JPY); for the complete list click on ‘Currencies’ as listed above.
- Precious Metals
- Gold (XAU); Silver (XAG); Platinum (XPT); Palladium (XPL)
- Bitcoin (BTC); Litecoin (LTC); Ethereum (ETH); Bitcoin Cash (BCH); Dash (DASH); Bitcoin Gold (BTG)
- Utility Tokens
- Basic Attention Token (BAT)
- Usability – Uphold is cryptocurrency simplified. Money is stored across cards, such as a BTC card, ETH card, USD card, etc. These cards take the place of what you might know as a wallet. The functionality of the cards and the integration between cards is easy enough for a crypto-newbie to feel comfortable with in no time.
- Adding funds – The nice thing about adding funds to any of your cards with Cryptocurrency or Utility Tokens is the simplicity that is integrated into the website. Example: Say I have some Ethereum on a hardware wallet, such as a ledger, and I want to load my BTC account on Coinbase. Typically, I would have to first convert my Ethereum to Bitcoin using Shapeshift or an exchange. With Uphold, I can simply load my BTC card with the Ethereum that I already have and Uphold does the conversion for me. This comes at a small fee of 1.40%.
- Exchanging Funds – Trading between assets has never been easier. A quick click of the “Transfer between your cards” button is all that is needed to begin trading cryptocurrencies. Trading between cards is instant but requires a 1.95% exchange fee.
- Sending Funds – One of my favorite features with Uphold is the way they make it possible to send money to family and friends. When a new account is made you will be asked to make a username such as @gowithccg. Knowing a person’s username allows you to be able to send any currency, cryptocurrency or precious metal to that person without needing specific receive addresses for each different form of currency. For example, it takes the stress of worrying about if you are accidentally sending Bitcoin to a Litecoin address. This is all made possible for a fee of 0%, yes 0%. Sending $5 in Bitcoin to a friend or $50,000 it is all free of charge and will delivered instantly.
- For those who use the Brave web browser, Uphold is the wallet that is needed to accept payments as a Publisher. Becoming a publisher allows you to accept any Brave Payments that may have been sent to your website, YouTube channel, or twitch.tv account.
About The Author
Dakota is currently in his senior year at the University of Louisville School of Nursing. His interest in cryptocurrency began in 2015 where he began researching about the blockchain. This lead to his first major buy of Ethereum in March of 2016. Since then he has been actively trading and investing in cryptocurrency while learning a variety of skills along the way.