Currency exchange app
Uphold lets you buy and sell 50 U.S. equities, 30 cryptocurrencies, 27 national currencies, four precious metals, and Universal Carbon tokens. Although Uphold offers a range of finance-related services, it isn’t a bank itself. It does, however, have bank connectivity in 34 countries.
The rise of cryptocurrency
Bitcoin is often used as the default term for crypto, but more and more of these types of currencies appear every week. From Tron to Chainlink and beyond, there’s now a need for a crypto exchange.
Kraken and Coinbase are two of the most well-known, and now Uphold is setup to join their ranks. As well as crypto, Uphold lets you buy and sell a vast range of other currencies, all from your iOS device.
Online financial security
If you’re dealing with financial information, then, of course, you want to be sure an app or service is as secure as possible. Uphold uses various safety measures to protect user data, including TLS encryption, Test Driven Development processes, and anti-money laundering procedures.
Uphold also maintains an insurance policy to protect crypto from theft via employees, hackers, security breaches, and fraud. It doesn’t, however, cover your account if it’s subject to unauthorized access.
Fair prices and trades
Uphold lets you buy and sell a range of currencies and stocks via its ‘Anything-to-Anything’ trading platform. In essence, you can trade one asset directly for another, for the exchange rate you see. There are no additional charges.
The app is free and with many exchanges subject to 0% fees. Some crypto networks take a small percentage, but Uphold gives you the price you pay, with minimal spread taken by the company. There are also no withdrawal fees, and it’s entirely free to deposit via debit or credit card.
Our take
Uphold values transparency, so it’s very easy to find information related to how it works. The number of options available if you want to buy, sell, or trade is staggering. It’s also possible to invest as little as $1, meaning anyone can try their hand at the stock market.
Should you download it?
Yes. If you’re serious about finance, whether it’s crypto or equity, Uphold is for you.
