Cryptocurrency has been on the rise for a few years now, and it's becoming increasingly popular as people realize the benefits of a more straightforward currency. This popularity has led to an explosion of cryptocurrency exchange platforms.
While all of these exchanges are undoubtedly convenient, not all of them are created equally. One such exchange, Uphold, has a lot to offer in terms of diversification, security, and ease of use.
What if you want to trade your BTC to stocks or gold? Introducing Uphold, a trading platform that lets you trade crypto, fiats, precious metals, and equities all in one place.
What is Uphold?
Uphold exchange has been around since 2015 and is one of the first platforms to offer trading digital money and other securities. In addition to cryptocurrencies, you can purchase different assets such as fiat currencies or precious metals alongside equities.
Its unique "Anything-to-Anything" trading experience is convenient for users since they can exchange any item for another.
Uphold certainly offers features that are not available with other exchanges. One of its most valuable benefits is the ability to convert fiat currency into cryptocurrency instantly for free. Other exchanges would usually charge a fee for the same service.
The exchange offers 27 different national currencies, 80 cryptocurrencies, and 50 U.S. stocks that it can instantly convert to any supported assets.
In addition, Uphold guarantees currency conversion at the best possible rates since it uses an internal system that connects over 80 legacy financial institutions and payment networks worldwide.
Pros
- Simplistic user interface
- Autopilot feature
- Fast transaction times
- Security
- Blockchain integrations
- Cheap forex
Cons
- Lack of better charts
- Relatively higher fees
- Lack of altcoins
- High spreads on lower volume assets
- Not available in some countries
Is Uphold safe?
Yes. Uphold exchange is safe for its users as it has an intricate encryption system that's fully compliant with banking standards. Penetration testing and security audits are performed regularly by security professionals.
For added safety, the company also has a dedicated cybersecurity team that constantly monitors accounts and transactions to make sure everything is safe.
Uphold is regulated by the U.S. Securities and Exchange Commission (SEC) and multiple European agencies. This means users' digital assets are fully protected against hackers and human error.