Uphold now offers free-of-charge transactions for Ripple (XRP)

Uphold, the well-known platform and virtual currency exchange based in the cloud has recently decided to break through new horizons and possibly attract new clients and investors by including the digital coin Ripple (XRP) on their platform.

Not only that, according to a report released by the crypto-related news portal bitcoinist.com, the company has also made the audacious move of allowing the first five million XRP transactions to be completely costless; a move that for a fact, will engage the company with lots of new clients and investors.

Uphold ambitions to match the demand of the Ripple coin

It is not a secret that the digital currency related to Ripple, XRP, has been consistently growing in price and volume, with a community that every time seems to be bigger. Therefore, it’s not to be surprised that Uphold has its eyes put on the cryptocurrency.

The goal here is to take advantage of Ripple’s success by exploiting the token’s demand, and of course, gaining new clients. As Adrian Steckel himself, the CEO of the company, said it:

“there has been a huge demand for XRP, and Uphold is one of the first platforms to make XRP easily accessible.”

Regarding the above, the expression “easily accessible” was never truer; the company will not settle down with making the first 5 millions of XRP transactions free, they will also offer the chance of effortlessly making the conversion from XRP to other cryptocurrencies.

At the moment, 7 different digital coins are available to be exchanged in the Uphold platform, and in the same way, other 23 fiat currencies – and even some precious metals like gold and silver.

Uphold & Ripple – An not-so-unexpected alliance

For those who recently have been familiar with the lately Uphold moves, the whole partnership deal with Ripple may seem not very surprising, in fact, adding the cryptocurrency to its catalog is one of the most expected actions in the community since the exchange platform was known to have received an alarming funding proposal from one of the former executives of the cryptocurrency.

With the XRP addition, the exchange has a very wide and diverse number of cryptocurrencies available for trading, some of them include Bitcoin, Litecoin, Ethereum, Dash, Bitcoin gold, Bitcoin cash, and BAT.

Consequently, the offer is every time bigger and better; a move that is, in fact, one of the aspirations of the company in the hope of replacing the consolidated platform, Coinbase.

Coinbase is currently one of the most popular exchange platforms in the United States, the site is consistently the chosen one among the community, nonetheless, despite its simplicity and brilliant service, there are still a few cryptocurrencies which are not supported by the platform.

A singular example of this is XRP, the Ripple coin that still remains as not-supported in the crypto asset list from Coinbase, thence, the recent Uphold move may be seen as a strategy for taking down its main rival.

However, many rumors have been spread about Coinbase making a new addition to its platform, a strategy that allegedly could include XRP into their services.

Regarding this, the notice is still unconfirmed and it actually might continue like so if Coinbase acts as usual and remains silent prior to adding a new cryptocurrency to the platform.

To sum up, we still need to see what’s going to happen with Coinbase in the next days, but for now, Uphold took the lead with the well-thought and audacious partnership with Ripple.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of M.G. Kafkas via Flickr