What is Uphold?
Founded in 2014, Uphold was the brainchild of Halsey Minor, the founder of CNET, a well-known media company. As a cloud-based platform offering financial services, Uphold offers its users an opportunity to trade precious metals, cryptocurrencies, and fiat currencies.
Originally named Bitreserve, the company was relaunched under a rebranding campaign in November 2014 as Uphold. The company aims to reduce the cost of transactions while exchanging money.
Available in 184+ countries, Uphold has 1.7 million customers worldwide, consisting of both business and retail investors. So far, Uphold has processed transactions worth $8 billion. Users can fund their Uphold accounts through cryptocurrencies, credit/debit cards, and bank accounts to trade over 60 tradable assets.
There are no commissions on Uphold for trading as Uphold follows the zero-commission model. Blockchain technology is the core technology powering Uphold to bring a variety of tradable assets for its users and gives them easy access for trading.
Available on both iOS and Google Play Store, Uphold users can exchange any of the supported assets on Uphold for other supported assets.
Uphold Mastercard Debit Card
Uphold offers a debit card to its users, and it is available in both the physical and virtual format. An Uphold debit cardholder can choose any of the assets they want to spend, be it cash, commodities, or crypto. They won't have to pay any foreign transaction fees for transacting in foreign currencies.
In terms of acceptance, cardholders can use their card at 50 million merchants, and ATMs globally as the Uphold debit card is a part of the Mastercard network. Currently, the Uphold Mastercard debit card is only available in the United States