Digital money platform Uphold has introduced zero-commission trading on cryptos, to open up affordable access to new asset classes for millions of retail investors.
The service will initially be available only on iOS and Android mobile apps, however the move represents a shift in a sector that until now has largely resisted the commission-free model revolutionising stock and ETF trading. Previous the company’s announcement, cryptocurrencies were one of the more expensive asset classes for retail investors to trade.
Uphold aims to create the most cost-effective place for retail investors to buy and sell cryptos and other assets. The company says that they allow customers to move their crypto into private wallets at will, send funds to virtually anyone, anywhere, instantly, and free of charge, and use their holdings as a medium of exchange for payments.
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