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US-based Crypto Bank Uphold adds Ripple’s XRP

US-based Crypto Bank Uphold adds Ripple’s XRP

March 29, 2018 6:04 am,

US-based Crypto Bank Uphold adds Ripple’s XRP

Uphold, which defines itself as a “cloud-based financial services platform,” has added the decision to purchase XRP, the cryptocurrency of the worldwide payment link Ripple. This addition carries the number of coins maintained by the platform to eight, the others being Bitcoin, Litecoin, Bitcoin Cash, Bitcoin Gold, Ether, Basic Attention Token, and Dash — in addition to 23 fiat currencies.

 The request is definitely high, the value of the XRP token shot up 32,377% in 2017 — building it the fastest increasing coin of the year. In contrast, Ether rose 8,978%, Litecoin rose 4,841%, and Bitcoin improved by 1,221%. As we see, all of these coins have subsequently fallen knowingly from their highs. XRP is down 74% in 2018.

Ripple, the corporation, vends blockchain-based payment technology to banks and has contracted on more than 100 banking customers, as well as Western Union and Santander. Ripple’s token, XRP — which several people call simply “ripple” — is used as a payment vehicle in one of its compensation products, xRapid. The addition of XRP to Uphold “highlights the important growth in interest for XRP,” according to Ripple’s head of XRP markets Miguel Vias.

Uphold users can currently purchase XRP on the site with zero transaction fees for the first 5 million XRP they purchase. They can change XRP into seven other cryptocurrencies, 23 fiat currencies, and four valuable metals.

Uphold

Uphold, which has exclusive itself as a “cloud money vault,” is not a cryptocurrency exchange, but more like a bank for purchasing and holding different currencies, changing them into other currencies, or directing them to other members globally.

The site launched in 2014 under the name Bitreserve, and was started by CNET founder Halsey Minor. When it first launched, clients had to make their first credits in Bitcoin, but could then change Bitcoin into other currencies when they required to withdraw or send money abroad.

In 2015, Bitreserve altered its name to Uphold and initiated permitting customers to deposit money into their accounts through bank transmission or credit or debit cards. With the successful in cryptocurrencies over the past year, the site seems to be approval crypto: its homepage states that users can go, “From US dollar to bitcoin in seconds.”

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