Log in Join
Advertiser Disclosure

Uphold adds support for Ripple’s XRP token

Avatar
Peter Terlato
Posted: 28 March 2018 1:27 pm
News
Uphold small

To celebrate the launch, for a limited time Uphold is offering no fees for the first five million XRP purchased.

Cloud-based financial services platform Uphold has responded to customer demands, announcing that members now have the ability to buy and sell Ripple’s XRP digital currency directly from their Uphold wallet.

Uphold frequently receives requests to support new currencies and XRP was a clear favorite among members. In a recent Twitter poll, the company asked which cryptocurrency should be added next. Of the more than 12,000 responses, Uphold’s Twitter followers overwhelmingly voted for Ripple’s XRP token.

“We have seen huge demand for XRP and Uphold is one of the first platform’s to make XRP easily accessible. Uphold was first with Bitcoin Cash and Bitcoin Gold, and we are again at the forefront of innovation in the cryptocurrency industry,” Uphold said in a statement on its website’s blog.

To celebrate the launch, for a limited time Uphold is offering zero fees for the first five million XRP purchased.

Uphold members can convert XRP from any other supported currency within their Uphold wallet and hold XRP within their wallet. During the first phase of the launch, members will not be able to send XRP to external wallets or addresses. However, phase two will launch in the next few weeks, connecting Uphold to Ripple’s digital ledger, RippleNet, enabling full functionality and external deposits and withdrawals of the XRP token.

Ripple’s distributed ledger, RippleNet, provides real-time messaging, plus financial clearing and settlements. Ripple has already signed over 100 partners who utilize its RippleNet blockchain.

Uphold enables its users to convert, hold and transact in any form of money or commodity, including digital currencies, instantly. The service has facilitated more than $1 billion in transactions across 181 countries.

In late January, Uphold entered into a partnership with Greg Kidd, an investor in Ripple, Square, Coinbase and other crypto companies, to expand its loss assurance ratio for fund members. The deal increased the platform’s loss assurances to around 20% of its total crypto holdings. Additionally, Kidd’s investment vehicle, Hard Yaka, will fund the creation of Uphold Labs, a research and development unit providing business solutions.

You can learn all about different exchanges, understand exactly how to buy and sell cryptocurrencies, calculate your taxes, discover digital wallets to hold assets and explore a list of all the alternative coins on the market.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news

Picture: Shutterstock

Ask an Expert

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

Latest headlines

Go to site