Uphold adds smart controls on multiple asset classes
Uphold, a digital currency platform providing investors with easy and unique access to cryptocurrencies, fractions of US stocks, physical metals, carbon credits and currencies, has now launched smart limit orders.
A traditional limit order is an order to buy or sell an asset at a specific price or higher, but requires users to lock in or freeze their funds at the time an order is placed until it is either executed or canceled. Uphold’s smart limit orders allow users to place up to 50 limit orders simultaneously without having to lock in funds at the time the limit order is set up.
This not only allows users to keep funds liquid and perform other transactions in the market, but also offers an option since multiple âordersâ can be set up with the same stake of $ 100, for example. For retail investors with limited fiat balances, this represents a giant leap as it offers the kind of option to set multiple limit orders that only institutional investors have traditionally enjoyed.
Smart limit orders on multiple asset classes
In addition, Uphold allows users to place smart limit orders on multiple asset classes, including cryptos, stocks, precious metals, carbon credits, and currencies, such as “Sell Tesla and Buy Bitcoin When BTC is less than $ 50,000 â.
âToday, Uphold becomes the first platform to offer users the ability to take advantage of limit orders on cryptos, stocks, physical metals and currencies,â said Uphold CEO, JP ThiÃ©riot. âFintech platforms have launched a new phase of growth with millions of people flocking to the stock market and seeking for the first time to include cryptocurrencies as a vital part of their investment portfolios. Uphold’s smart limit orders open up new possibilities for retail investors and level the playing field by taking the institutional-grade features of futures trading and applying them to spot orders.
The first order limit to be fulfilled takes the allocated capital
If multiple limit orders are placed simultaneously, the first limit order to fill takes the allocated capital and subsequent orders will fail unless the user reloads their balance. If the user still has funds in the account after the first order has been fulfilled, the remaining orders will remain open until all allocated funds have been used.
US customers have the added benefit that funds can be automatically withdrawn from their bank accounts through the ACH network. Uphold plans to introduce similar automatic top-ups from debit and credit cards in the near future.
A digital currency platform serving over 7 million customers in over 150 countries. Uphold now manages nearly $ 3 billion in client assets. The Silicon Valley company is now opening up to 50,000 accounts per day as consumers seek a home that is more versatile and more profitable for their financial lives. Leveraging blockchain technology, the platform provides consumers and businesses with easy access to 55 digital assets, 27 national currencies, four precious metals, and 50 fractions of US stocks.