An official partnership between Dash and Uphold means that cryptocurrency users can now directly purchase Dash coins within a single mobile app. Uphold has been integrated as part of the official Dash mobile wallet, making it easier to buy and use Dash coin. The partnership was officially unveiled at the recent Money 20/20 conference.
Users that wish to take advantage of this new service will need to set up an Uphold account, log in through the Dash wallet and start buying and selling Dash using bank (wire) transfers or credit card payments within the wallet. According to Robin O’Connell, chief revenue officer, at Uphold, the new integration with the Dash mobile wallet will give the digital asset a real chance at becoming a useable cryptocurrency for real-world transactions. “What we like about Dash is its commitment to driving adoption across the globe with more and more instances of real-world use cases involving Dash payments,” said O’Connell.
Mr O’Connell added that the integration of Uphold within the official Dash Wallet “helps increase Dash usability” and that the increased payment methods for adding funds to a Dash Wallet using an Uphold account “will in turn make it easier to spend with Dash” online. It has been confirmed that the integration of Uphold within the official Dash Wallet has already been completed for Android app users, with a view to completing the integration for iPhone app users in the near future.
At a practical level, the addition of Uphold within the Dash Wallet promises to minimise friction for new users of the Dash cryptocurrency. Meanwhile, existing Dash owners and users will find it significantly easier to keep spending and buying more Dash coin. Before this recent Uphold-Dash tie-up, new prospective Dash buyers were required to install a Dash-supported wallet, utilise an alternative service – such as a cryptocurrency exchange – to buy Dash coin, and figure out how to transfer the Dash coin from the exchange to their Dash-supported wallet. This new partnership guarantees a single app that serves the entire process end-to-end.
The CEO of Dash, Ryan Taylor, has also hailed the importance of this partnership with Uphold in terms of encouraging Dash coin into the mainstream psyche of consumers. “With this wallet integration [with Uphold], users can acquire and use Dash easier than ever. Our goal of achieving widespread adoption can only be made possible by making the user experience as easy and intuitive as possible,” said Taylor.
Presently, Uphold charges conversion fees of 1.25% for all Dash acquisitions. This fee is the lowest rate for any cryptocurrency wallet conversion fee after Bitcoin. Furthermore, users only have to pay a $3 withdrawal fee to transfer these digital assets from their platform. It’s certainly an exciting time for the Dash community, with a successful application required for the platform to provide a legitimate and believable commercial use case for Dash coin. It’s hoped that having an in-built brokerage service within the official Dash wallet will result in an upturn in Dash coin adoption among both businesses and consumers.
The news of Uphold’s partnership saw the price of Dash coin jump by 5% in the leading cryptocurrency markets. Uphold is said to have already processed more than $4 billion worth of cryptocurrency transactions in recent months and is considered to be a safe pair of hands for Dash to be on board with. Dash is not the only altcoin to experience a price surge in recent days, with Ripple (XRP) also rising 7% on the news of Coinbase’s approval from the NY Department of Financial Services to offer crypto custody services for XRP; joining the likes of Bitcoin Cash, Ethereum Classic and Litecoin in the Coinbase ranks.
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