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UPBTC

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What is Universal Bitcoin (UPBTC)?

Universal Bitcoin (UPBTC) is a tokenized, therefore convertible, version of Bitcoin (BTC). Considered part of the proxy asset camp, this Ethereum-powered, ERC-20-wrapped BTC was launched in 2019 by the Universal Protocol Alliance. What’s that? It’s a consortium of blockchain companies focused on tokenizing non-Ethereum blockchain projects. Why? They’re seeking to create a universal transparent reserve standard allowing for more functionality, compatibility and, as a result, more widespread take-up of digital assets. 

UP Alliance members, including Cred, Blockchain at Berkeley, CertiK, OmiseGO and Uphold, help power an ecosystem comprising more than 10 million users and are aiming at an even loftier target – attracting 100 million users. Designed with institutional-level security – a smart bookkeeping system that logs deposits and withdrawals on a smart contract – UPBTC facilitates, via seamless interoperability with the Universal Protocol Token (UPT), fast, low-cost conversion to Bitcoin and other digital assets. The architecture allows for vast connectivity among ecosystems, elegantly solving the individual smart contract scalability conundrum. Dan Schatt, Chairman of the UP Alliance, has called UPBTC a “secure proxy token that can now reason with any Ethereum application.”

What is the price of UPBTC? 

UPBTC exactly mirrors BTC which as of mid-October was ranging between $11,300 and $11,900. The two can be freely traded for one another.

Some of the biggest names in the blockchain industry support various aspects of the UPBTC ecosystem: Uphold provides wallet and exchange functionality.

How to buy UPBTC

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

Open an Uphold account

This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice and before taking any action you should consult your own advisors. Note that digital assets such as cryptocurrencies present unique risks for investors. Please see our disclaimer regarding risks specific to holding digital assets before investing.

This content is correct as of November 2020

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