In case you haven’t noticed, money is changing.
It’s going digital .
What does that mean for you?
It means being able to manage your money from a smart phone, no matter where you are in the world. It also means being able to move that money anywhere in the world, instantly, and for a small fee.
But wait – haven’t you always been able to manage money online?
Uphold - The trusted, low cost and easy to use digital money platform.
Yes, online banking has been around for a while now. But, online banking is new tech plastered over an ageing, outdated financial system. One that is expensive, slow, and ill-equipped to support and grow with our evolving modern world.
As customers, we’ve changed. We want everything now, inexpensive, with efficient service, and on-the-go convenience. And traditional banks just don’t cut it .
So, a new generation of money management firms has taken the lead. By using the latest technology, they’re able to convert efficiency savings into customer savings, giving you a triple whammy: real-time transparency, cheaper fees, better service, and greater flexibility.
One such firm is Uphold – “the trusted, low cost and easy to use digital money platform.” Uphold accepts, converts, sends, and stores virtually any tradiditional and digital currency whether fiat currency like US dollars or cryptocurrency like bitcoin. And it could save you $100s in banking fees.
Why does Uphold matter?
Uphold isn’t a bank, but a digital money platform . Think of it as your own personal gateway to international money markets – you can buy, sell, or store 30+ currencies, including cryptos, and send them to any bank, crypto wallet, or exchange in the world for a bank-beating low fee.
Uphold - The trusted, low cost and easy to use digital money platform.
This makes it an excellent choice for people who regularly send money home (remittance payments for example), such as overseas workers. It’s also great for remote workers and freelancers with international clients who want to get paid in local currencies at the best (mid-market) rates.
Traditional banks, on the other hand, seldom open foreign currency accounts for you, and their conversion rates are poor and transfer fees high. Using a platform like Uphold puts you in control of your money and ensures you’re getting the best deal, no matter what currency or where it’s ultimately going.
The Uphold app: A world of money in your hand
Uphold’s mobile app is designed to give you everything you need to manage your money on-the-move. But how good is it?
Let’s find out…
Design
As you’d expect, the Uphold app carries across the colours and themes of its web application. If you’ve used the web app, you’ll find the mobile app has a familiar look and feel – and that’s a good thing.
Each screen is white with dark grey text, making it easy to read, and has a single function, which keeps the app nice and easy to use. Important buttons are coloured green.
Once you’ve signed up the app, you’re taken to a central screen where you can access all Uphold actions – buy, sell, send, and so on – with a single tap (see below).
When you select one of these options, you’re taken through a short series of individual steps, such as choosing a currency, payment method, and so on, before moving to the next step. Having the process broken down into a few discrete stages makes it incredibly easy to follow – even if you’re not particularly tech-savvy. The final step is a summary and confirmation page that ensures you know what you’re about to do before committing to it.
Features
You can do pretty much everything on the mobile app as you can on the web:
There is also a Settings page (accessible by clicking the gear icon on the home page) where you can link other accounts, change the default currency, add extra security (passcode or touch ID), and lots more.
Set up
To use Uphold, you need to download the Uphold app and another security app called Authy. You need Authy to provide you with a verification code to sign into Uphold. This is a bit of a pain, but two-step verification is pretty common nowadays to protect you from theft or fraud.
Once you’ve downloaded the Uphold and Authy apps to your phone, follow these instructions to get started.
Left is the first screen you see when opening the app. Then either sign in (middle) or create a new account (right).
3- When you’re asked for a 2-step verification code, open Authy. Authy will tell you what to do to set up your device if you haven’t already done so.
4- Enter the code into Uphold – for your security, the code changes if you wait too long.
Uphold’s 2-step verification login page (left) and Authy’s Uphold code (right)
5- Once you’ve logged in, you’ll see the following three pages that explain what you can do with Uphold:
6- Swipe through these, and then you’ll be taken to the home screen above and can start managing your money.
Uphold is an innovative and cost-effective way of managing your money, and the app makes it super convenient. We would have liked to see some of the Uphold transparency information in the app, since Uphold makes a big noise about having the reserves to back up their users’ funds. This would put the more security-conscious users’ minds at rest who’ve not encountered the web app yet.
Having said that, it’s easy to access on the web, and including it in the mobile app might complicate a very fluid, simple experience.
So, if you’re looking for a better, cheaper way to manage multiple currencies, cryptos, or simply want a cheaper way to send money abroad, Uphold – and the app – are a great choice for you. Download the app now and see for yourself.
Given its range of features, ease of use, and pleasing interface, I’d rate the Uphold app 8/10. It loses full marks on its lack of in-app reserves info, and I’d have liked the option of a physical debit card for spending my Uphold balance, but aside from that, it’s an excellent money management app and an easy recommendation.
Uphold - The trusted, low cost and easy to use digital money platform.