Uphold, a U.S.-based digital finance platform, announced on Tuesday the launch of its commission-free cryptocurrency trading. Uphold also revealed that it is adding new funding and withdrawal options to its platform, which reportedly now attracts up to 7,000 new accounts daily.
Speaking about the new commission-free trading, J.P. Thieriot, CEO of Uphold, stated:
“Our goal is to create the easiest and most cost-effective place for retail investors to buy and sell cryptocurrencies and other assets. And unlike our competitors, we’re staying true to the fundamental premise of cryptocurrencies: financial self-sovereignty. At Uphold, you can move your crypto into private wallets at will; send funds to virtually anyone, anywhere, instantly and free of charge; as well as use your holdings as a medium of exchange for payments. None of which you can do at Robinhood or Revolut.”
Uphold also reported that it has more than 50 currencies on its platform and is providing account funding via seven cryptocurrency networks, debit/credit cards and bank connections in more than 40 countries, with the UK, Canada, Poland, Romania, Croatia, and Hungary added earlier this month. Thieriot went on to add:
“The convenience of being able to withdraw your funds immediately to a bank-issued debit card is going to be a huge attraction for customers. And in many parts of the world, it will be a first for a cryptocurrency platform. These are the biggest changes we’ve made since we started in 2014. Together, they make Uphold the easiest and most cost-effective place for retail investors to buy and sell cryptocurrencies, and break down the barriers that prevent people from investing and enjoying world-class financial choice.”
Uphold is on a mission to create trusted access to digital money and financial services. Since its launch, the company claims it has fought to provide a fairer, easier, and more affordable system.
“We favor speed, simplicity and ease of use over complexity. We put security and transparency first. Our commitment to transparency sets a new standard for the industry. Unlike banks, we are fully reserved: we hold assets to match our obligations and publish both in real time.”