How Brave and Uphold work together to allow users to transfer BAT awards earned in the browser to the Uphold wallet.
Many people use the cryptocurrency wallet Uphold, particularly those who use Brave as their web browser. In reality, Brave and Uphold have been working together for years, with users being able to transfer BAT awards earned in the browser to the Uphold wallet. In other words, BAT awards are accrued on the Brave awards wallet and can subsequently be transferred there to be converted into a variety of other digital assets and currencies via the Uphold wallet.
In fact, the Uphold cryptocurrency wallet’s built-in exchange, which enables the exchange of different cryptocurrencies, is one of its unique characteristics.
It is, in fact, a fully-fledged digital money platform designed to give investors easy access to fiat money as well as cryptocurrencies and other investments. The site has over 10 million users and broadcasts real-time updated data on its reserves.
With more than 250 cryptocurrencies and tokens, but just three fiat currencies, it primarily functions as a wallet and cryptocurrency exchange.
However, it remains a controlled exchange with a custodial wallet, making it similar to other cryptocurrency platforms in this regard.
Uphold Lithuania UAB, where it is headquartered, appears to be a legitimately authorized financial services provider with license number 305967101.
Uphold was established in 2015, making it almost ten years since it first entered the market. It had approximately 1 million users when the partnership with Brave started in 2019, but potentially as a result of this partnership, it later increased to 10 million.
Additionally, it was apparently the first financial dealer to ever link a debit card to a wallet so that customers could use the wallet’s cryptocurrency storage to make purchases.
This platform’s unique characteristic relates to trade itself.
Anything-to-Anything trading on Uphold allows trading directly from one asset to another without conversions. Exchanges don’t charge commissions, which can be particularly beneficial because it makes trading simpler and faster.
The corporation imposes a spread on prices even though exchanges do not charge commissions. As a result, purchases are really completed at a price that is slightly higher than the market price. The company’s revenue comes from the spread, not commissions.
In addition to cryptocurrencies, it also permits trading in precious metals and foreign exchange, and it features a programmable recursive buying and selling function that might be helpful, especially for people performing DCA (Dollar Cost Averaging).
As one might anticipate, Uphold’s target market is primarily comprised of retail speculators and small investors.
The platform is basic, versatile, and inexpensive. Limit Orders, for instance, lack expert-level capabilities.
Instead of intricate graphs, tables of figures, and moving data, it provides a user-friendly experience.
It was the first to provide a bitcoin-financed Mastercard debit card because many of its users utilize its wallet to quickly and easily make trades and payments.
Despite the target population’s need, it doesn’t seem to provide good help.
Security appears to be one of the areas on which this platform places the most emphasis. Since the retail target is the most vulnerable to theft or fraud, it must be served with exceptionally strong security.
In instance, Uphold imposes an extremely secure wallet login process that can occasionally be delayed in addition to requiring identification verification. The software itself is quick, but for new users in particular, logging in can be a little tedious.
However, as it is a custodial wallet, maintaining a high level of security is crucial.
In the end
It doesn’t seem to have many users despite being a safe exchange that is undoubtedly simple to use. Additionally, a large portion of these are undoubtedly Brave users who get BAT rewards.
A further indication of limited utilization or inadequate money is the low trading volumes. On the other hand, Brave’s BAT payouts are unquestionably meager.
The platform’s evolution may have been overlooked since more aggressive competitors have stolen most of its customers. Lithuanian presence also hurts the US market.
Registration is free and allows you to see the simple user interface and decide if it’s worth it.