Uphold is a server-transmitted cloud-based financial service platform that enables individuals to securely move, convert, hold and transact in various assets of value. Uphold offers 27 fiat currencies, 115 cryptocurrencies, 50 U.S stocks and four types of precious metals. Users can fund their accounts from credit/debit cards or either from bank accounts or cryptocurrency networks. From one screen, users can send funds to other people and trade up to 60 assets.
HOW DOES UPHOLD WORK?
Uphold was founded in 2014 with the foremost goal to reduce the transaction costs involved in exchanging money, particularly concerning cryptocurrencies. There is a certain procedure when operating and using uphold, when users sign up for Uphold, they are asked to provide their legal name, date of birth and phone number. When the users need to withdraw or send funds to other people, they must become verified users. To become a verified user on uphold, the user needs to provide their current residential address, a valid government photo identification and a ‘live selfie’.
TRUST IN UPHOLD
Uphold has been classified to be well trusted and transparent. Uphold is a fully reserved platform. Unlike banks, they don’t loan out your assets or money. They publish your holdings and obligations in real-time with accurate results.
FINANCIAL SERVICES OF UPHOLD
Uphold is said to be a versatile trading platform for your financial life and business. It provides you with access to various financial services which you can’t avail yourself through the bank, such as cheap forex, instant remittances, flexible payments and blockchain integration.
Let’s get to know about these services:-
● CHEAP FOREX — We can access some of the cheapest forex rates on major currencies, including USD, EUR and GBP from as low as 0.2%
● INSTANT REMITTANCES -.We can send money to our friends and family worldwide instantly and that is free of additional cost and in anything from Bitcoin to USD.
● FLEXIBLE PAYMENTS- We get paid by our employer in any currency, denomination or even any combination of currencies we want like70% in USD,20% Euros,10% Bitcoin.
● BLOCKCHAIN INTEGRATION — It withdraws funds to bank accounts in 36 countries or private wallets on seven crypto networks and that is even instantly and fee-free.
UPHOLD FOR BUSINESS
Uphold can be valuable and important for your business, as it provides:-
❖ INSTANT AND SECURE TRANSFERS — We send money to our global workforce or suppliers instantly and securely, without losing the trust factor. We send the currency we want, they get the currency they need.
❖ LOW-COST CURRENCY CONVERSION — It allows you to move between 67 currencies and precious metals cost-effectively and you can even control the risk of your FX.
❖ FREE STORAGE OF FUNDS — We can hold funds at no cost in as many currencies and commodities relevant to our business.
❖ ACCESS TO GLOBAL CUSTOMERS — We get paid by our international users without the major costs of cross-border payments. We get paid in the currency we need, our customers get paid in the currency they want.
❖ BUILT-IN COMPLIANCE AND FRAUD CONTROLS — We should know our customers are integrated. Money laundering and financial risk controls provide us with peace of mind.
❖ STATE OF THE ART SECURITY MEASURES — The security system by Uphold ensures that all our assets and data are protected.
INTEGRATION WITH- APPLICATION PROGRAMMING INTERFACE(API)
With the help of API, we can do the following things:-
➔ AUTOMATED PAYOUTS — Uphold’s API allows us for payouts to vendors, employees and more in multiple currencies.
➔ MORE PAYMENT OPTIONS — Users like us can create and connect Uphold wallets to transfer funds to our business.
➔ BECOME AN APP PARTNER — We can list our product in the app center to promote ourselves as an Uphold partner.