The journey into cryptocurrency is an exciting one. But picking the right exchange is a crucial first step to success. Fortunately, Uphold is one of the best exchanges in the world in terms of security and cryptocurrency bonus offerings.
They also have an amazing app where you can check your portfolio daily. I’ve personally been using them for many years and have seen lots of good updates and many cryptocurrencies added since they first launched.
The good news right now is that they have some first-time bonus options for getting started. Even though they aren’t the biggest amounts, every little bit adds up. And no one is going to complain about getting free money. Let’s be real here.
First Time Users
For people who want to make crypto-to-crypto trades or buy precious metals, Uphold is a great option.
Available in over 184 countries, they will allow you to convert, buy, sell, send, and hold over 30 different flat currencies and crypto and offer no-flat trading commissions.
What’s unique about Uphold is that, on each trade, you are charged a spread fee – a pricing model that benefits traders investing small amounts of money.
Best of all, Upload currently has a promotional bonus of $20 within the first 30 days of signing up.
Using Uphold for Beginners
In a nutshell, the exchange combines a brokerage firm, a cryptocurrency exchange, and a forex trading app. It literally lets you delve into a little bit of everything.
Even though I only use them for cryptocurrency, they also let you buy, sell, and trade various assets. It’s also simple and easy to use, and it gives users access to a wide range of financial products.
Courtesy of the “Anything-to-Anything” trading feature present, you can conveniently make trades between assets.
Simply put, you don’t have to convert the assets in your possession to cash; instead, you can trade them for other assets.
Using Uphold offers you a unique way to trade and also offers a highly lucrative cashback debit card that allows you to pay for things with it and receive rewards in cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
There are also no commission fees on any trades, and you can send money to almost anyone if they have a functioning bank account.
With its distinctive financial network translations, which can be used for all asset classes and documented in one digital language, you can get a simple and intuitive trading experience using them.
How Uphold Works
They also give users total transparency by giving a detailed analysis of the assets and liabilities in their reserve, allowing you to always see how your money is being handled.
Uphold will enable you to convert money between over 30 currencies and add funds to your account. They eliminate most of the paperwork and labor usually involved in purchasing or selling any asset class, including precious metal, crypto, and fiat currency.
Instead of having the traditional fractional reserve model, they use the working model of having a 100% reserve. This implies that all investments and currencies are safe, thereby lowering the possibility of ever losing your money.
Uphold Bonus Codes
- Free $20 In BTC Claim Here
- Auto Referral – Claim Here
Current Bonus Codes
In Uphold, there are two ways to get a bonus. These include
- Via signing up
- Via referrals
According to the platform, only referrers and referrals are eligible to get bonus promotions. Once all requirements are met by the referrers and referees, they receive a $20 Bitcoin reward.
Bonus Code 1: Free $20 in Bitcoin
The first offer I’ve laid out for you is the free $20 Bitcoin when you sign up or refer using the bonus code and verify your account by depositing at least $250 via cryptocurrencies or banks.
They give you a free $20 Bitcoin when you sign up using the bonus code. Here are ways you can get $20 in Bitcoin by signing in.
- Sign up using the bonus code or referral link.
- Verify your account.
- Fund your account by depositing at least $250.
- Trade at least $250 in any crypto currency.
How do I get a referral bonus?
You get a referral bonus when the person you invite successfully joins and completes the process. Your referrer also gets the free $20 Bitcoin when they sign up using the bonus code and verify their account.
Here are ways you can get the referral bonus:.
- Log in to your account.
- Go to the referral section and copy the referral code.
- Share your referral code.
- Once a person signs up using the referral code or link and deposits the $250, they get the referral bonus.
- The person also gets $20 in bitcoin.
Bonus Code 2: Referral Programm
The referral program gives you and the person you referred a $20 bonus in Bitcoin after he or she meets the requirements and completes the process.
To qualify, your referrer must sign up to the Uphold account using your referral code or link, verify, fund the account with at least $250, and trade a minimum of $250 in any crypto. Once completed, within 45 days, you get $20 in Bitcoin.
Benefits of Using Uphold
Using the app or platform gives you many benefits. Users can make money simply by trading or holding digital assets. There are also opportunities on the platform to earn passively. Here are some of the main benefits:.
Benefit 1: Great Security
High-security measures and uses high-quality data encryption technologies on the platform for its users to ensure the safety of users’ data and funds. Some security measures include
- Using two-factor authentication for both users and employees
- Encryption of private keys and emails to make them inaccessible to malicious characters.
- Thoroughly check the background of all employees and staff.
- 24/7 system watch.
- Holds roughly 90% of funds in cold storage.
- Has an insurance policy against security breaches.
- Annually invites independent security auditors to conduct penetration tests.
Benefit 2: Instant Money Transfer
Another benefit is the instant transfer, which is sure to impress customers. On some crypto platforms, the wait time for money transactions is long, but with Uphold, the wait time to make money transactions is cut short.
Users can send money within a few seconds and in any currency of their choice, even cryptos. Moreover, sending money is free, whether users are transferring in Bitcoins or U.S. dollars, maintaining a healthy financial situation. They also charge a significantly lower rate for transactions compared to cross-border fees.
Benefit 3: Usability
It is easy to use, making it great for users who have no cryptocurrency or trading account. It is user-friendly, and the website is easy to navigate.
Due to its ease of use, users find it easy to buy and sell stocks, commodities, and currencies. Even better, they also provide users with a one-step trading capability, so they can trade any crypto asset for another.
Benefit 4: Lots of Assets
Currently, they support over 250 crypto assets, including coins like Bitcoin, Litecoin, Cardano, Solana, Ethereum, Dogecoin, and stablecoins. The platform serves the purpose of various trading and financial apps.
Users can buy, sell, or trade various assets like crypto currencies, fiat, U.S. stocks, and precious metals like gold, silver, and platinum. Also, users can purchase and trade dozens of U.S. stocks, including Amazon, Tesla, Google, and Apple.
You can also buy U.S. stocks for as little as $1 and receive partial dividends. Also, the apps work on both Android and iOS phones. They’ve also had numerous updates that have really perfected the platform, whether you’re trading or long-term holding different assets.
You can also stake in different cryptocurrencies to generate some passive income. Rates for coins change on a monthly basis.
Benefit 5: Currency Exchange and Conversion
Uphold is best for crypto currency investors who prefer having access to a wide range of tradable coins and other cryptocurrencies.
Users can exchange their currencies at relatively low prices. Instead of paying expensive transaction rates, they instead take a small percentage for every currency exchange.
With this feature, users can send money in any currency they choose. For instance, if a person sends a Bitcoin to another person and the person needs Pounds, the Bitcoin will be automatically converted to Pounds and credited to the recipient’s wallet as Pounds.
Therefore, instead of paying an extra and large amount for conversion, Uphold automatically converts it and takes out the percentage when sending the currency. Just don’t forget to grab your Uphold sign-up bonus.
Uphold Fees
I’ve always been curious about how they make money, since it’s a bit hidden on their main website. But this exchange makes money through’spreads’ on transactions.
The spread is the difference between a bid and an ask. Its spreads are variable and depend on many aspects of the coin or asset.
The platform usually warns that spreads may be higher for low-liquidity coins and tokens. You can always cross-check the fees before a transaction. Below is an estimate of the typical spread for cryptos and other assets:
- Bitcoin: 0.8% to 1.2%
- Other altcoins: 0.65% to 3.95% (an average of 1.8%)
- Precious metals: 3%
- S. equities: 1% (could be higher during after-market hours).
- Fiat currencies: 0.2%
Other fees include:
- Card Issuance Fee: This is a one-time fee of $9.95.
Extra Features
- Dollar Cost Averaging
Dollar cost averaging refers to the practice of dividing up the total investment amount across periodic purchases of an asset at regularly scheduled intervals.
This is extremely easy to do with any of the digital assets that are available. You can set up daily, weekly, biweekly, and monthly recurring deposits.
The benefit is that it can reduce the impact of price volatility and help mitigate the risk of entering the market at peaks. They also offer dollar cost averaging using their AutoPilot feature, which allows users to create continual buy or sell orders.
- Anything to Anything
They allow their user base to trade between different assets using their “Anything-to-Anything” feature.
If a user wants to convert their gold holdings into XRP, they don’t need to initially sell their bitcoin stack for cash and then invest it in XRP. Instead, they can directly swap their XRP into something else seamlessly.
Final Thoughts
In my opinion, Uphold is a top exchange not just for cryptocurrency trading but for other categories as well. They give you the option to trade precious metals, fiat currencies, and even stocks.
It’s an all-in-one investing platform that allows you to dabble in a little bit of everything. Which is something most other sites and apps don’t offer.
Overall, it is one of the few crypto platforms that offers access to over 75 stocks, 200+ cryptocurrencies, four precious metals, and other assets in one place.
The actual platform is excellent for traders or long-term investors. They’ve also introduced numerous security measures to protect users. If you are interested in trading any assets, this is the best place to start. You can learn even more about them here.
