Crypto Basics

7 Reasons Why You Should Set Up A Digital Wallet

  • 13 Mar, 2018

  • 3 Min read

Robin O'Connell photo
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Cryptocurrencies function differently from traditional currencies that people are familiar with, so it makes sense that storing and using them requires a slightly different set of tools.

Instead of a physical wallet filled with paper money and bank cards that you keep in your pocket or purse, the most common way to store cryptocurrencies is within a digital wallet. A digital wallet is similar to a physical wallet, aside from the fact that it can only be accessed using a computer or another digital device (phone, tablet, etc.).

At Uphold, we offer one of the most user-friendly, easy-to-access, safe and secure digital wallets out there.

Here are a few key reasons to set up a digital wallet on Uphold:

Better Security, Lower Risk

With Uphold, you can trust that your money is secure. Uphold regularly conducts Security Audits and Penetration Testing of our systems. Uphold also uses two-factor authentication to secure your account. Two-factor authentication adds another level of security requiring that an authentication code is sent to your phone before you’re granted access. When it comes to safeguarding the money you’ve worked hard to earn, these extra layers of security are a must.

Quickly React to Changes in the Market

The ease of moving your money between cards makes it painless for members to react to market changes and move between crypto and traditional currencies. If there is volatility of fluctuations in the market, Uphold members are able to instantly move between currencies to avoid potential losses.

Easily Move Your Money With Uphold, you can easily move your money between 30+ supported currencies.

Once your Uphold account is set up, it just takes a few easy clicks on your dashboard to transfer money between different currency cards from traditional to cryptocurrencies.

Your Uphold account makes it easy to send and receive money online, instantly. You can send money to anyone with an email address, anywhere in the world. You can receive money just as easily from an Uphold member or by sharing your wallet address for deposit. You can even get paid in crypto with our API partner, Bitwage, with the touch of a button.

Trade in Cryptocurrencies Without Deep Technical Knowledge

While cryptocurrencies are especially popular among those who have studied cryptography or computer science, you don’t have to be an expert to get involved in the crypto market. If you are interested in trading in bitcoin but don’t want to get caught up in dealing with technical demands (like downloading the entire blockchain on your hard drive), using a digital wallet is the way to go.

Easily Transfer Funds to and from Your Bank Accounts Uphold makes it easy for you to move money into and out of your account. You can purchase digital currencies by simply transferring funds from a bank account or credit card. You can even fund your wallet with a cryptocurrency or utility token (learn more from our FAQ page). Funding methods can vary by country, so you may have to look into which payment methods are available in your country.

Uphold’s Open API

Choosing Uphold to store your digital wallet allows you to use other apps built to be compatible with Uphold’s open API. Consider some of the exciting apps and partners Uphold works with:

  • Heleum automates investing based on your preferences and goals. This app automatically checks exchange rates across the nine most traded national currencies and three top cryptocurrencies (bitcoin, litecoin, and ethereum) and then instantly moves the funds you’ve designated in order to take advantage of the best opportunities for gain.
  • Ausecure gives you sophisticated access to precious metal commodity markets. If you use Ausecure with Uphold, you can redeem stores of value in the Uphold Wallet with physical Gold coins or bars in any weight or denomination. With Ausecure, you can buy a variety of Gold bullion in an easy, quick, and affordable way.
  • Brave is a web browser that is highly attuned to cryptocurrency markets. Brave’s native altcoin is the Basic Attention Token (BAT). You can trade BAT tokens using Uphold.

Mobile Access with the Uphold App

What’s a wallet if you can’t take it with you? Uphold offers both iOS and Android apps that give you all the benefits of mobile banking and the major payment platforms. Just like with your physical wallet, you can keep your digital wallet with you wherever you go.

Ready to get started? Sign-up now and get verified. Securely stored on Uphold, your cryptocurrency reserves will be just a few clicks away, whenever you need them.

This article should not be used as or considered investment advice. If you have questions regarding cryptocurrencies, tokens or any financial investments please consult your financial advisor.

Robin O'Connell photo
Written by
  • CEO, Enterprise

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Robin O'Connell photo
Written by
  • CEO, Enterprise

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