Digital money platform Uphold is announcing the native integration of Cardano (ADA) — the first Proof-of-Stake blockchain platform founded on peer-reviewed research and developed through evidence-based methods by IOHK — to offer its users more utility and flexibility.
The integration will allow Uphold users to freely deposit and withdraw Cardano’s native token, ADA, from external, private wallets and the Uphold exchange1 — which was not technically possible prior to integration. Cardano integration will also enable users to stake ADA on the Uphold platform. Currently, ADA staking rates at Uphold are highly competitive, at around 4% APY.
“We’re delighted to integrate the Cardano blockchain, which will allow users to move their funds to Uphold and enjoy one of the best staking offerings in the industry. Not only does it offer a competitive APY of 4%, but it provides unrivaled flexibility with no minimum investment amounts and the ability to stake and unstake near instantly,” said Uphold CEO Simon McLoughlin.
Today, Cardano is one of the most popular and biggest — by market capitalization — cryptocurrencies in the world. According to CoinMarketCap, ADA is currently the eighth-largest digital currency worldwide, with a market cap of over $16.5 billion.
Known for its massive, vibrant, and loyal community, Cardano is considered a “people’s blockchain” by many — and deservedly so. To keep in line with this spirit of collaboration and inclusivity, Uphold is thrilled to provide this extra utility to its customers and excited to team up with Cardano to help educate users and promote new capabilities.
To this end, Uphold is also partnering up with Cardano to launch an educational webinar aimed at helping users better understand and embrace cryptocurrencies and the broader Web3.
In the future, Uphold plans to continue working on more integrations with other popular blockchain networks to offer its customers as much flexibility as possible.
To get familiar with and take advantage of the new Cardano-related features, users can refer to this easy 4-step instruction on how to invest in ADA on Uphold — or download the corresponding app on both Apple Store and Google Play.
Linked to 26 underlying trading venues, Uphold offers superior liquidity for Cardano holders as well as price discovery. The platform shops the market so you don’t have to, which means Uphold consistently emerges as one of the least expensive CeFi trading venues.
In these challenging times, Uphold continues its mission to be the safest place for its customers to hold their assets. To further reinforce this vision, the platform never lends customers’ crypto to third parties, and all assets always exceed potential liabilities.
Further, Uphold is the only crypto trading platform in the industry that is constantly disclosing its assets and liabilities on its website in real-time.
“At a time of such uncertainty in the industry, we believe that Cardano holders will appreciate the transparency and security of the Uphold platform. We´re the only venue in the industry to publish in real-time its customer assets and liabilities on a public website,” McLoughlin added.
