Cryptocurrency exchanges are gatekeepers of the industry. Despite their centralized nature, they provide convenient access to Bitcoin and altcoins. The revamped Uphold platform introduces some very interesting changes.
A Different Core Business
It is not uncommon for cryptocurrency exchanges to improve their services. This can be done in many different ways. For Uphold, several of its core aspects have undergone a transformation of sorts. All of this is done to improve the service for clients of this trading platform.
The first big change is the removal of commission percentages from trades. This applies to all of the traditional markets available on the exchange. Enforcing such a chance is not done out of the blue. Uphold has obtained more liquidity providers, allowing for lower cost trades in general. Removing the fees altogether is a big development.
This chance does not just apply to trading either. Customers depositing funds with a credit or debit card will no longer pay a fee either. Free card payment deposits are relatively uncommon among cryptocurrency exchanges. It is another step toward improving the overall adoption of crypto assets.
Secondly, users can now trade in real-time between supported assets. This makes for dozens of potential trading markets being unlocked in the process. Removing bridge currencies from the equation benefits the company as well. Uphold integrates with the different ledgers holding the assets and pre-funds the native currency.
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Other Services Remain the Same
While Uphold is an exchange, it provides other core services too. The foreign exchange and international remittance aspect is of great value to customers. This service supports both Bitcoin and fiat currencies. Giving customers ample choice is crucial to make a lasting impact.
E-commerce services are also on tap. Integrating payment solutions can be a daunting task. With Uphold, it becomes a lot more straightforward to do so. Benefits include free storage of funds, low-cost currency conversions, and much more.