Cryptocurrency Newest Crypto Posts

Is Uphold Legit In 2021? – See My $6000 Crypto Account

Uphold has become one of my favorite crypto exchanges in the last year. They have one my of my favorite cryptos here XRP, and also offer the ability to trade over 50 plus different altcoins. You can even trade currencies, equities, and even metals. Now you might have landed on this article wondering if Uphold is a legit platform to put money into. Well your going to get to see my crypto portfolio here as well as the essentials for getting started. Let’s get to it!



Trading Cryptocurrency On Uphold – The Basics

Trading cryptocurrency is like making a professional guess on the price movement using a CFD trading account or buying and selling coins via an exchange. In simple terms, it just involves you speculating whether the price of a particular currency will rise or fall.

You can decide to go long (buy) if you think a cryptocurrency will rise in value or short (sell) if you believe it will fall. It’s just that, although it requires vast technical expertise. However, unlike some platforms, trading on Uphold is relatively easy, cheap and fast.

On Uphold, opening accounts is very quick, and you could start trading almost immediately. This is because you can connect your local bank account or credit card to your wallet and buy coins or stocks without necessarily converting the funds to U.S. Dollars. More so, you can quickly deposit straight into your preferred crypto from your card or crypto wallet. Providing you with a better and faster way of locking in volatile prices.

There is more! On Uphold, you can trade directly between different asset classes – bonds, gold, equities, cash, derivatives, etc. – in just a single step. And also, movement between asset classes, using the friendly “From” and “To” trading interface, is seamless, unique, impressive and time-saving.

However, the most interesting thing about trading on Uphold has to be its transparency and cost-effectiveness. All transactions carried out are free – no commission on trading, zero percent deposit and withdrawal fees. More importantly, Uphold is fully regulated by the U.S. Department of Treasury and the FinCEN (U.S. Treasury Department for Financial Crimes) and thus operates as a regulated financial services provider. Trading on Uphold is 100% legit and safe. The platform utilizes strong security measures to protect its clients’ assets and money. There is no cause for alarm.


Coins Available On Uphold

Uphold is home to over 50 plus digital currencies, including major coins, altcoins, stablecoins, and emerging tokens. Below is a list of some of these digital currencies.



  • Bitcoin
  • Ethereum
  • XRP
  • VeChain
  • Cardano
  • BAT
  • Bitcoin Cash
  • Hedera
  • Theta
  • Polkadot
  • Solana
  • Ada
  • Bitcoin Gold
  • Doge
  • Digital Cash
  • Litecoin
  • Tron
  • Terra
  • Cardana, etc.

Uphold Fees

Although Uphold offers a cost-effective means of trading and performing transactions, it is not free. Uphold charges its customers a spread for buying and selling cryptocurrencies.

Their pricing is an all-inclusive one. What you see before trading is what you pay after trading. No hidden or extra charges between “Preview” and “Transact” like many trading platforms.

The spread charged varies with different digital currencies, assets, and locations. For example, for customers in the U.S and Europe, Uphold spread is about 0.8 to 1.2% on BTC and ETH. And in other parts of the world, the spread increases to about 1.8%.

More so, for low-liquidity digital currencies and tokens, such as XRP, OXT, DOGE, spreads can be considerably higher. On assets like precious metals, the spread is about 3%.

However, these spreads are likely to widen beyond those mentioned above when there is acute market stress. Ensure to check the spread before trading or transacting.


Portfolio Balance

Well I promised to show my Uphold portfolio and here it is. You can see I own some XRP, Enjin, and a little Basic Attention Token. Now obviously my biggest position in this portfolio is XRP because well I’m a part of the XRP Army!


 


Benefit To Using Uphold Mobile App

The Uphold mobile App features its popular “Anything-to-Anything” interface. It enables you to trade directly between over 50 plus digital currencies and metals using just one screen. Quite impressive, you’d agree. The interface is user-friendly and straightforward. Here are some of the benefits.

1. Two-click Exchanges:

With the mobile app, you’re a few clicks away from executing a trade. You can easily place an order, choose your funding method, and process your transactions in just about 30 seconds.

2. Comprehensive Market Data:

With Uphold mobile App, you have live market data for everything going on in the world of cryptocurrency and precious metals. Price data is often calculated to the 5th decimal, ensuring you make the most precise calculations.

3.  Full Desktop Functionality

Apart from trading and investing, you can also monitor your portfolio, send money to friends and family in different parts of the world and more on the Uphold mobile App.



Different Charting Options for Trading

Success at trading depends on how well you can read, understand and markup charts. And that makes chart patterns very important to learn and master.

There are quite a handful of chart patterns to learn. While you don’t, necessarily, have to master all the patterns, there are some that you must know before you start trading. Some of the very important chart patterns include Bullish patterns, Bearish patterns, Bearish reversal patterns, Bullish reversal patterns. Other chart patterns include; Ascending / Descending Triangle

Head and Shoulders, Inverse Head and Shoulders, Channel Up / Down. Usually, patterns that appear over a long period are more reliable and workable. Ensure you check the price pattern before you trade.


Uphold Crypto Free $50

Other Products Available For Trading On Uphold

Uphold is not just for trading cryptocurrency. Other products are available for trading on this platform.  Below are the products also available for trading on Uphold.

1. Precious Metals

Precious metals such as gold, silver, palladium, and platinum are available for trading. Impressively, you can buy any of these metals using your debit/credit card. Similarly, you can convert these metals into 27 different national currencies.

2. U.S Equities

Also, you can buy expensive U.S. stocks from as low as $1. You get proportional ownership and get paid your dividends in cash. Some of the stocks available include Tesla, Amazon, Google, Apple, Microsoft, Netflix, Visa.


Final Thoughts

Like I stated in the beginning of this article I love using Uphold for trading! It’s grown on my and I will continue adding to my portfolio as time goes on. Conclusively, Uphold is a regulated and, absolutely, legit platform, one that ensures maximum safety of its customers’ money and assets. If you would like to get started on your trading journey click here.


 

Related posts

Binance US App Review for Iphone

admin

Is Staking Cryptocurrency Worth It In 2021?

admin

Best Way To Earn Interest On Ethereum – Up To 6%

admin