Uphold introduces an important new feature for cryptocurrency speculators: smart limit orders, which is the ability to set up to 50 limit orders without freezing users’ funds.
When a user sets a limit order, their funds are usually frozen until the trade is realized. That represents a significant limitation for users who find themselves with liquidity allocated without the ability to make other trades.
Uphold changes this functionality by giving users the ability to set up to 50 limit orders with the same budget.
For retail investors, this represents a significant opportunity, especially with limited balances.
Uphold CEO JP Thieriot: said.
“Today, Uphold becomes the first platform to offer users the opportunity to leverage limit orders across cryptos, stocks, physical metals and FX,” said Uphold CEO, JP Thieriot.
“Fintech platforms have kickstarted a new phase of growth with millions of people flooding back to the stock market and looking to include cryptocurrencies as an essential part of their investment portfolios for the first time.
“Uphold’s smart limit orders open up new possibilities for retail investors and levels the playing field by taking institutional-grade functionality from futures trading and applying it to spot orders.“
What is Uphold
Uphold is a platform for buying and selling digital assets, including cryptocurrencies. It boasts 7 million customers worldwide in 150 countries and manages $3 billion in assets for its customers, with 50,000 active accounts per day.
With the new functionality introduced to benefit its clients, Uphold also allows trades to be made from one asset class to another. In practice, it is possible, for example, to set up an order instructing the platform to sell Tesla and buy Bitcoin if the price is below $50,000.
Uphold has already launched debit cards that allow the user to pay in cryptocurrency. With this new feature, Uphold aims to give cryptocurrency users a new opportunity by expanding its user base.