With cryptocurrency markets approaching $276,000,000,000 in market capitalization, its evident that more and more people / businesses are getting interested in the space. To this day, many would argue a majority of the population still doesn’t know how to purchase cryptocurrency. Over the years, platforms such as Uphold have rolled out to make this process easier for everybody that is interested in the space. Today we take a look at Uphold and go over some of it’s key features. Uphold has continued to upgrade it’s platform and is one of the top places to buy and sell digital assets.
Uphold formulated in 2015 and has accounted for $4+ billion in transactions all over the world. The platform gives users access to more than 30 currencies when accounting for traditional currencies and cryptocurrencies. Uphold is a one stop shop financial services firm for foreign exchange and cross-border remittances around the globe. For example, if your utilizing USD, you can covert your USD to Bitcoin in literally seconds. You also have access to 1,000 currency pairs in the blink of an eye!
Dashboard:
As you can see from the figure below, once you sign up for Uphold you will have access to a dashboard of different “cards.” These cards represent assets as you can have a different card for numerous currencies or cryptocurrencies. This is one way that Uphold makes everything very organized to create a great user experience. The cards on your dashboard are considered your “favorite cards” and you can add additional cards by clicking on the upper right of the screen. You can see that some of the cryptocurrency cards we have marked as favorites are Bitcoin and XRP. You will stay organized and store your BTC on your Bitcoin card and XRP on your XRP card!
Funding:
Once you click on one of the cards, it will bring you to a separate page where you can work with each card individually. Below we have clicked on the Bitcoin card and then hit “funding.” You will now be in the correct place if you would like to fund your Bitcoin card. You can fund this card from your credit, debit or bank account. You can also fund it with other Bitcoin from a different crypto wallet/exchange! You would do that by clicking on “fund with cryptocurrency or utility token.”
Use Funds:
Once your Bitcoin card is funded with one of the options above, it will will be converted to BTC on your card. You can see from the figure below this Bitcoin card has 0.03 BTC which is equivalent to around $339.00. You can now use your BTC a couple different ways. The most popular are either sending BTC to another “card” or sending your BTC to another wallet/exchange. The cool thing about sending to a different card is that you could easily fund your XRP card with your BTC proceeds. In this scenario it would give you the ability to convert 0.03 BTC to your XRP card which would automatically convert to around 755 XRP!
Upcoming Features:
Per Upholds website, they also plan on implementing additional features in the near future. This includes lending and spendable debit cards. It appears Uphold will be offering individuals leverage against their digital asset holdings which could be appealing to some people based on their financial situation. Also with issuing debit cards, it will give users the ability to spend their balances with physical cards, similar to other competitors such as Bitpay for example.
Key Takeaway:
We did not go through all the features on Uphold, but wanted to cover the basics of simply purchasing and using funds on the platform. As we outlined initially, Uphold has done a tremendous job making this experience easy and quick. We think one of the coolest things about this platform is it automatically converts fiat to crypto for you. If your not very tech savy and do not like dealing with exchanges / trading this platform could be perfect for you. In order to purchase/sell crypto you do not have to put in traditional buy and sell orders like you would have to do on other platforms such as Coinbase or Binance. You can simply fund your account and purchase/sell a handful of different cryptocurrencies.
Check out the platform below and get familiar with all the features it has to offer you!
Uphold Website: Link
Uphold Twitter: Link
Facebook: Link
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. Please also visit our Privacy policy; disclaimer; and terms and condition page for further information.