An interesting update was posted on the Uphold blog not too long ago, as company Executive Vice President Jorge Pereira announced the platform will be adding both Litecoin and Ethereum in the next few months. By the look of things, Uphold is planning to go big on digital currency, as they only supported Bitcoin up until this point. Offering different types of digital currency which can be traded against precious metals on the platform could be a smart move for Uphold.
Litecoin and Ethereum Are Coming To Uphold
Keeping in mind how this exchange platform is dedicated to bringing innovation to the world of trading, adding different popular digital currencies seems to be the right way to go. Open source development of currencies such as Bitcoin, Litecoin, and Ethereum, has caught the attention of Uphold management, and the growing demand for this type of money can not be ignored.
Blockchain-based technologies and currencies have a good chance to disrupt the trading ecosystem as we know it. Not only will digital currency shake up the way people trade assets and pay for products or services, but it also poses the question to regulatory bodies as to how they want to treat Bitcoin and consorts in the future.
Uphold prides itself on being a platform where users can hold, move, convert, and trade any form of commodity or currency free of charge. Among the commodities sold on this platform are various precious metals, fiat currencies, Bitcoin, all of which will soon be joined by Litecoin and Ethereum.
Digital currencies are becoming a more viable source transferring and storing value, as fiat currency and precious metals markets remain rather volatile these days. Bitcoin and other currencies are not safe from volatility either, though, but things have subsided compared to a few years ago.
Litecoin will be added to the platform over the course of April 2016, although no official date has been set just yet. Additionally, once that step has been completed, the addition of Ethereum will follow in may of this year. The choice of these two particular digital currencies was made due to their growing popularity among enthusiasts and developers.
Source; Uphold Blog
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