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Uphold Review: all you need to know about this multi-asset digital trading platform

Uphold was founded in 2015. It is a cryptocurrency exchange managed by Uphold Europe…

The post Uphold Review: all you need to know about this multi-asset digital trading platform appeared first on CoinJournal.

Uphold was founded in 2015. It is a cryptocurrency exchange managed by Uphold Europe Limited, which is registered under the Financial Conduct Authority’s Temporary Registration Regime for crypto asset firms. It is also regulated by the Financial Conduct Authority (FCA) to issue e-money pursuant to the Electronic Money Regulations 2011.

Away from the management and regulation of the exchange, let’s now delve into how it works and its pros and cons.

How it works

To start with, Uphold is quite a unique trading platform in that in addition to allowing users to buy, sell, and convert cryptocurrencies, it also allows them to trade precious metals, fiat currencies and US equities.

It also allows cross-asset trading; meaning you can trade between any of the assets it offers. You could, for example, choose to trade cryptocurrencies for stocks or a fiat currency for precious metals and so on. You, therefore, do not need different accounts to trade the different trading instruments that Uphold offers.

In addition to trading, Uphold also offers a number of other financial services. It offers a debit card called Uphold Card that allows you to pay using any of the crypto assets that you hold and in return earn rewards for spending. It also allows for instant fee-free payments to friends and family across the globe.

 Products offered by Uphold

 As an Uphold user, you can also receive payments from an employer in any currency (including a combination of currencies) of your choosing. You can also directly withdraw funds to your bank account or crypto wallets. It allows bank withdrawals in over 30 countries.

Uphold also has a staking program that allows you to stake your crypto assets and in return earn staking rewards.

It also allows for automated trading meaning you can schedule regular transactions using AutoPilot. This allows you to set up a recurring buy or sell order and reduce the impact of price volatility.

Uphold fees

While Uphold offers 0% trading commissions, it charges spread fees on crypto purchases and sales. For popular cryptocurrencies like Bitcoin and Ethereum, the fees can go to as high as 1.2%. The spread fees may also increase when the market volatility increases.

The spread fees for the other financial assets are fixed. For fiat currencies, the spread fee is 0.2%, for US equities it is 1%, and for metals, it is 3%.

On the bright side, Uphold does not charge any deposit and withdrawal fees.

Pros and Cons of Uphold

Pros

1. Zero deposit and withdrawal fees.

2. Uphold allows direct bank withdrawals.

3. It offers a debit card that allows users to directly pay for services using the assets that they hold on Uphold and in return earn rewards for spending.

4. It allows users to link any Bitcoin, Bitcoin Cash, XRP Ledger, Ethereum and Litecoin wallet.

5. It allows cross-asset trading; something that is quite unique among crypto exchanges.

6. It allows crypto staking thus providing users with an opportunity for earning a partial income from their crypto holding.

Cons

1. One of the main disadvantages of using Uphold is the variable spread fees on crypto purchases and sales which are also affected by market volatility. Those buying and selling popular cryptocurrencies pay the most.

2. Uphold only offers one order type, which is limit orders. If you are looking for additional or more advanced order types like market orders, you will want to look elsewhere.

3. Uphold is not optimized specifically for crypto trading and investment and it misses key crypto features like NFTs.

4. Uphold offers a limited number of cryptocurrencies when compared to other crypto exchanges.

5. The US equities and precious metals trading as well as the Uphold Card and automated trading are not available in some regions.

Why should you use Uphold?

Uphold is ideal if you are looking for a platform where you can trade a variety of assets. On Uphold, you will be able to trade cryptocurrencies, fiat currencies, US equities and precious metals.

Its user interface is also simple to use meaning you can easily start trading on the platform regardless of your experience level.

Also, Uphold allows you to trade between the various assets that it offers. You can trade fiat currencies for cryptocurrencies Fiat currencies for US equities and so on. This feature makes Uphold stand out among its competitors.

You can also set up automated trades for recurring buys and sells helping you to mitigate the effects of market volatility.

Final Verdict

Uphold is a good platform for those looking to not only do cryptocurrency trading but also trade other financial instruments like precious metals and US equities.

However, users will have to contend with some of the limitations like the lack of more advanced order types since the platform only allows the use of limit orders. Its FCA compliance also makes it quite strict and there have been a number of account lockouts.

The post Uphold Review: all you need to know about this multi-asset digital trading platform appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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Best exchange cryptocurrencies to buy this week

UNI and SUS are native tokens of the leading decentralised exchanges and have been performing well today. BNB is underperforming today but could rally higher over the coming days.  The total crypto market cap could reach the $900 billion mark in the near term. The cryptocurrency market is trading in the green zone for the […]

The post Best exchange cryptocurrencies to buy this week appeared first on CoinJournal.

  • UNI and SUS are native tokens of the leading decentralised exchanges and have been performing well today.

  • BNB is underperforming today but could rally higher over the coming days. 

  • The total crypto market cap could reach the $900 billion mark in the near term.

The cryptocurrency market is trading in the green zone for the second consecutive day this week. The total market cap stands above $850 billion and could rally higher over the next few hours.

With most cryptocurrencies performing well this week, we will focus on exchange-based tokens and look at the top five you can buy before the end of the week.

Top five exchange tokens to buy this week

Uniswap (UNI)

UNI, the native token of the Uniswap decentralised exchange, is one of the best-performing exchange tokens this week. The token has added more than 4% to its value in the last 24 hours. At press time, the price of Uniswap stands at $5.73 per token.

UNI is an excellent choice because Uniswap remains the number one decentralised exchange in the world, processing over $700 million in daily trading volume. 

Where to buy Uniswap now

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy UNI with eToro today

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy UNI with Bitstamp today

Sushiswap (SUS)

Sushiswap is the second decentralised exchange to make this list. SUS powers the Sushiswap exchange and has been performing well over the last 24 hours. The token is up by more than 4% in the last 24 hours and is now trading at $1.41. 

Uniswap remains ahead of Sushiswap, with Sushiswap processing roughly $20 million in daily trading volume. However, its SUS token is still a leading exchange coin. 

Where to buy Sushiswap now

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy SUSHI with eToro today

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy SUSHI with Bitstamp today

Cronos (CRO)

The native coin of the Crypto.com cryptocurrency exchange is also trading in the green zone today. Cronos is up by less than 1% in the last 24 hours but could rally higher over the coming hours and days.

At press time, CRO is trading at $0.06447. Crypto.com is one of the top 20 cryptocurrency exchanges by trading volume and processes more than $220 million daily. 

Where to buy Cronos now

CoinEx

Founded in December 2017, CoinEx is a global and professional cryptocurrency exchange service provider. CoinEx supports multiple languages and are providing global trading services in nearly 100 countries/regions.

Buy CRO with CoinEx today

Okcoin

Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan. Okcoin's mission is to help decentralize finance and level the economic playing field for everyone around the world. Serves 190+ countries with over 100K+ active traders and investors.

Buy CRO with Okcoin today

Binance Coin (BNB)

BNB, the native coin of the Binance cryptocurrency exchange, is also one of the exchange tokens to consider. At press time, the price of Binance Coin stands at $300.19, down by 1% in the last 24 hours.

Binance is the world’s leading crypto exchange. Earlier today, the exchange announced that it had acquired the Japanese-regulated Sakura Exchange BitCoin. Thus, allowing Binance to operate legally in Japan following its exit from the country four years ago. 

Where to buy Binance Coin

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy BNB with eToro today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy BNB with Binance today

KuCoin Token (KCS)

The last token on this list is the KuCoin Token (KCS). Similar to BNB, KCS has been underperforming so far today. However, it could recover and rally higher in the coming hours or days. 

KCS is currently trading at $6.71 per coin. KuCoin is the fourth-largest crypto exchange and processes nearly $500 million in daily trading volume. 

Where to buy KuCoin Token now

As KCS is such a new asset, it's yet to be listed on major exchanges. You can still purchase KCS using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy KCS right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it's one of the world's leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It's also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You'll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the 1Inch DEX

Head to 1Inch, and 'connect' your wallet to it.

4. You can now swap your ETH for KCS

Now that you're connected, you'll be able to swap for 100s of coins including KCS.

The post Best exchange cryptocurrencies to buy this week appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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