Uphold: tutorial, review and everything you need to know about this platform

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Avatar for pandoru1997
2 years ago
Topics: Analysis, Review, Wallet, Cash, Doge, ...

The need to exchange crypto assets and the possibility of being able to invest in metals and fiat currencies within the same platform is possible thanks to Uphold, which allows any user to protect themselves from the volatility of the crypto market and access the traditional market.

You've probably heard about Uphold and asked yourself questions like: Is Uphold safe? Does this platform work in my country? Well, in a nutshell Uphold is a digital platform that allows its users to buy, convert and store a wide variety of assets. Not only does it support some of the most popular cryptocurrencies, but it also allows you to exchange more than 20 fiat currencies and 4 precious metals. To learn more about what Uphold is and how it works we have decided to create this tutorial and review where we will explain everything about this platform.

Uphold was launched by Halsey Minor in November 2014 with the aim of facilitating money transfers to all types of users, under the philosophy that anyone in the world can have access to financial services that have traditionally been relegated to a privileged few.

The inflation problems experienced by Latin American and third world countries in general have a long history. Latin American cases such as Venezuela and Argentina, to put recent cases in context, and Ecuador-Colombia in past decades, are a reflection of the fact that our economy is still immature and only a couple of countries in this subcontinent can boast of having 'controlled' this scourge.

If we add to this the characteristic volatility of cryptocurrencies that differentiates this ecosystem from the rest of the traditional markets, we could say that some specific regions must deal with a double factor that can be counterproductive for any holder of digital assets. However, the duality characteristic of specific cases such as Venezuela where the common user cannot access stable fiat currencies such as the dollar, the safeguard in digital assets is their only option to survive the economic crisis suffered by countries with similar problems to the Latin American country.

Uphold: 'The Internet of Money

Fortunately for many cryptocurrency creditors who live with this uncertainty, there are easy-to-use online solutions to protect their assets safely from both volatility and inflation. Such is the case of Uphold, a platform that in the Venezuelan case became popular thanks to the alliance it offered with an escrow service for the exchange of any type of digital assets for fiat currency in that country a couple of years ago, such as Airtm.io.

Given the prevailing need of this type of market to acquire 'virtual dollars', Uphold supported the transfer and safekeeping of cryptocurrency wallets linked to the accounts of the users of the now competing platform in that country, and whose conversion rate is even used in the price reference index of the parallel dollar of the Latin American nation.

Despite the breakup, Uphold remains as popular in Venezuela as in the rest of Latin America, as well as in more than 180 countries where it operates. The reason is simple, it allows the transfer between cryptocurrencies, metals and even the withdrawal of funds to bank accounts in the countries where it operates (certain restrictions apply). The latter is the main engine that has allowed to achieve greater adoption among the Spanish-speaking community, so it is common to observe in social networks and private Facebook groups, the P2P exchange with the popular 'green card'.

Uphold has a solid reserve to support transfers to bank accounts in US Dollar, British Pound, Euro and Chinese Yuan.

In addition to the above four currencies, Uphold allows support in 19 currencies across five continents, with special emphasis on emerging economies.

Its support for cryptocurrencies, including deposit and withdrawal, comprises Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Basic Attention Token (BAT), Digital Cash (DASH), Ripple (XRP), Bitcoin Gold (BTG) and Cred (LBA), Dogecoin (Doge) assets.

It also allows support for buying and selling in 15 tokens from the top 100 crypto ranking, forty-four metals and three stablecoins adhering to the Universal Protocol, which allows the recoverability and inheritability of these tokens.

The 'Internet of Money' as the company calls itself, differs from a conventional bank, by maintaining a complete reserve of all members' funds, which allows to avoid exposing deposits to significant and sometimes unknown risk as with traditional banking and some crypto exchanges. Thus all users of the platform can monitor in real time on the company's official website the obligations in percentage terms of the reserve of assets.

Personal and business accounts

One of the benefits of the Uphold platform is that any common user can have access to more than 30 products including digital assets, stable currencies and metals such as Gold, allowing them to exchange, buy, sell and withdraw funds from them in real time and at very attractive rates ranging from 0.65% to 3.95% depending on the operation to be performed and the type of asset involved. If you wish to know in depth the fees involved for each operation and asset, please contact us.

you can visit the respective link here.. https://uphold.com/en/get-started/service-fees

But if you own a business or industry and want to link your Uphold account with your law firm, to receive instant and secure international payments, you can integrate the platform's open source API. The company enables the Uphold Merchant Services (UMS) service that offers merchants access to international markets without the typical costs of global cross-border payments.

This is possible because the platform complies with a strict AML anti-money laundering control program and international Know Your Customer (KYC) compliance.

CredEarn, Lending and Debit Cards

The platform currently supports a program to earn up to 10% interest on the loan of its digital assets under the name CrediEarn. The product is supported by CRED, a blockchain platform that allows lending USD, Euros and other fiat currencies with cryptoassets as collateral. The minimum earning period is 6 months with the option to renew in 3 month increments at the end of the term.

Among the crypto assets supported are BCH, BTC, ETH, UPBTC, UPEUR, UPUSD, and XRP. It is an excellent initiative that allows asset holders within the platform to earn some passive income without parting with their cryptocurrencies.

The platform is on par with exchanges such as Coinbase, but with better policies and access to blockchain networks for greater security in its transactions.

Uphold Registration

Setting up your digital wallet involves three easy steps:

  • Registering an account on Uphold

  • Verifying your identity with Uphold

  • Organizing your dashboard

We’ll walk through each of these steps in order, but if you’ve already completed one of the steps you can skip forward to the next section.

Registering Your Uphold Account

Getting started with Uphold is as simple as registering an account by clicking here  and following the instructions. Aside from your name and email, you will need to submit your date of birth and mobile phone number.

Your phone number is principally used to complete two-factor authentication. Two-factor authentication (2FA) helps to keep your account secure.

Here’s how 2FA works: You will receive a text message with a code to the phone number you submit. You will need to enter the code to complete your registration.

If you are a resident of China, you will also be required to submit a government issued identification number to complete registration.

Verification: Unlocking All Of Uphold’s Features

Now that your account is set up, it’s easy to become a verified Uphold member.

On the Uphold platform, members who verify their identity have full access to all of our tools and perks. Unverified members can still access our platform, but are subject to certain limitations.

If you are unverified, your transaction ceiling is $1,000 U.S. dollars. We require our members to be verified when the total value of their lifetime transactions (not including the addition of funds to their accounts) goes above $1,000 US dollars.

Once you’re ready to get verified, go to your dashboard and open the membership tab. Then click “start” to begin the process.

To initiate the verification process, we ask that you submit the following:

  • Your current residential address

  • A clear photo of your face

  • Your Social Security Number (U.S. residents only)

  • Upload one of the following valid government-issued IDs: Passport, National ID Card, or Driver’s License. (To upload, you can either submit a file or use your computer’s camera to create an image of the document.)

If you’re not sure if you’re already a verified member, it’s easy to check. On your dashboard, you’ll see a green checkmark next to your profile in the upper right-hand corner if verification is complete.

Organizing Your Dashboard

The last step to setting up your digital wallet is to organize your dashboard.

The most important part of organizing your dashboard is getting your cards in order. Remember that cards represent your holdings in different forms of currency and commodities (bitcoin, U.S. dollars, GBP, etc.).

Setting up a new wallet is simple. Go to “Add Card/Currency”. Then, name your card and select the currency type.

Once you have added the card, you can click on the card to add funds.

Choose between a bank account, credit or debit card, or cryptocurrency address to transfer funds into your Uphold account. Then you can add the amount of your choosing, and it will appear in the form of currency you’ve chosen.

Now you’re ready to customize, favorite, and add new cards at will. You can also send or receive money to or from anyone anywhere in the world, check your live balances, and track your recent activity.

Finally, you can click on “View More” to see your full transaction history.

Your Digital Wallet is Ready to Go! Registering

I hope you liked this review because this platform is the one I use the most to do my day to day business regardless of the cost of commissions, even they are free in most of the cases.

Invite your friends to join Uphold

Want to earn free bitcoin? For each referred friend who starts using Uphold, earn $10 in bitcoin, up to a total of $200. Here's what you'll need:

  • Share your referral link with your friends

  • Your friends must register using your link, verify their account, and deposit money through their bank or card, and exchange at least $250 in any cryptocurrency.

  • $10 in bitcoin will be credited directly to your wallet

just like that well I hope you liked it pandoru1997


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Avatar for pandoru1997
2 years ago
Topics: Analysis, Review, Wallet, Cash, Doge, ...

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