Technology has changed the way the world functions; and the financial sector hasn’t been left behind. Uphold is one company that’s using innovative applications to change the way people access their money. This membership platform is present in over 184 countries and has
powered transactions worth over 1 billion USD since its inception in 2015.
By using Uphold, individuals, businesses and developers stand to reap immense benefits from the platform. So exactly what does Uphold offer the above categories of Fintech users?
- Easily add funds into your account using either a bank transfer or cryptocurrencies such as Bitcoin and Ethereum.
- Send or receive money from any platform member for free and through a secure network.
- Instantly and securely convert your cash between 30 currencies supported by the platform.
- The platform allows you to hold currencies for safe keeping or for long term investment.
- There’s a proof of holdings that’s published in real-time indicating that one can access their funds at any given time.
- Quickly and securely send money to suppliers or Ayour workforce anywhere in the globe.
- Protection from forex risks through low rates of conversion between 30 major currencies.
- The platform holds funds for your business in as many currencies as your network desires.
- International users can pay for your goods and services without major costs that arise in cross border transactions.
- Benefit from world class controls on Anti-Money Laundering and Know Your Customer.
- Strong security systems to protect your business assets and data.
- Easily integrate Android apps using the Uphold API
- An open API that helps developers bring their visions and ideas to life
- A vibrant community of developers to share ideas and get feedback
- A blog to give you the latest updates and news
Uphold’s Security Measures
Uphold is obsessed about security and has put in place stringent measures to ensure that the money and information of its members is protected. Such measures include:
- Access & encryption – Uphold has strong protection programs that lock away bad players from accessing the system.
- Auditing & Testing – Routine audits are conducted by internal security personnel and external firms to ensure that the security controls in place are effective and up to date.
- Due Diligence – Potential service providers are thoroughly researched and vetted to ensure that all data and information remains safe.
- Personnel Standards – Before becoming a member, serious background checks are done such as criminal checks and educational credentials with the aim of ensuring security on the platform.
- All-Round Security System – U-SOC carries out round the clock monitoring of Uphold’s system and responds quickly to any suspicious activity.
Transparency on Uphold
Uphold has put a lot of transparency on its operation and ensures that all their dealings are visible on their platform at any given time. The network ensures that the members can access and control their funds all the time. With pending patents for technologies such as Reserveledger and Reservechain, the platform hopes to incorporate real-time verification of transactions flow, asset portfolio and the company’s solvency,
Membership on Uphold
Becoming a member of Uphold is free and signing up is quick, fast and efficient. Once you have signed up and membership is approved, you can begin to enjoy low costs of sending money. The growing list of membership benefits has attracted more and more people to this Fintech platform. The ability to transact in Bitcoin and other cryptocurrencies on the platform is also an incentive to join Uphold. A verification process is also done before approval of being a member which is part of their strong security procedures.