Uphold has just announced that it will be offering commission-free cryptocurrency trading opportunities for its users.
Uphold is a multi-asset platform that allows users to convert fiat to crypto, and this is a space full of commission fees that make trading incredibly expensive for many enthusiasts, with an industry average of 3.99% per trade. The company’s goal here is to challenge that.
“Our goal is to create the easiest and most cost-effective place for retail investors to buy and sell cryptocurrencies and other assets,’ said J.P. Thieriot, C.E.O. of Uphold, in a press release. “And unlike our competitors, we’re staying true to the fundamental premise of cryptocurrencies: financial self-sovereignty,” they conclude.
There are 30 cryptocurrencies supported on the platform as of this writing, alongside 27 fiat ones and four precious metals. That, and the application is available in over 40 countries, and even added Poland, Romania, Croatia, and more just this January.
On top of this, Uphold is pushing out “the world’s easiest trading interface,” otherwise known as “From and “To,” the release notes. If the commission fees entice novice traders to get involved in cryptocurrency, this simplified trading interface could help them stay.
Thieriot commented on this:
“In practical terms, there’s now no easier or more cost-effective way for retail investors to trade cryptocurrencies and other assets. No other platform gives customers such choice, freedom, and value for money.”
Additionally, Uphold will be bringing credit and debit withdrawals later this year – an attempt to keep the massive influx of new users accounting for up to 7,000 a day.
All of these features are available on mobile apps right now, and will be added to the platform’s website later this month.