Exciting News for Bitcoin Holders: Uphold Introduces Bitcoin Deposits to Vault
Uphold, the global web3 financial platform, has announced that bitcoin can now be deposited into Vault, an assisted self-custody wallet. The addition of bitcoin to Vault expands its functionality beyond just supporting XRP, making it a truly multi-chain assisted self custody wallet. This new feature aims to provide mainstream holders of bitcoin with the ultimate security of self custody while retaining the convenience of Upholdโs centralized trading venue. With Vaultโs assisted self custody, users can generate a new key in case of loss or compromise, reducing the risk of irrecoverable fund loss.
Enhanced Security and Convenience for Bitcoin Ownership
- Uphold introduces bitcoin deposits to Vault, expanding its range of supported assets
- Vault now offers self-custody solution for mainstream holders of bitcoin
- Assisted self custody feature allows users to generate new keys to prevent asset loss
Simon McLoughlin, CEO of Uphold, highlighted the importance of enhanced security and trading convenience as bitcoin ownership continues to grow. Vault aims to simplify the management of bitcoin keys and wallets, providing a straightforward self-custody solution that is independent of the Uphold app. With the recent surge in bitcoin value and interest in the Bitcoin community, more users are seeking secure self-custody options for their assets. Vault addresses these challenges by offering a user-friendly solution for storing and managing digital assets.
The Future of Vault: Supporting More Assets
- Vault currently supports XRP and bitcoin
- Plans to add additional XRPL-based assets and L1 chains in 2024
- Expansion of Vaultโs asset support to offer more options for users
As the demand for secure self-custody solutions grows, Vault aims to expand its support for a wider range of assets, including XRPL-based assets like XLM and XDC. This expansion will provide users with more options for securely storing and managing their digital assets. Upholdโs commitment to making web3 easy is evident in Vaultโs user-friendly interface and enhanced security features.
About Uphold: A Web3 Financial Platform
- Forbes Advisor recognizes Uphold as the Best Crypto Exchange in the UK
- Uphold serves millions of customers in over 140 countries
- Unique โAnything to Anythingโ interface provides seamless access to digital assets
Uphold is a leading web3 financial platform that offers easy access to digital assets and services for businesses and consumers. Its innovative interface allows users to easily navigate between digital assets, national currencies, and precious metals. Uphold prioritizes transparency and security, ensuring that customer assets are always 100% reserved. The platform is regulated in the U.S., UK, Canada, and Europe, providing customers with peace of mind regarding the safety of their assets.
Contact Uphold for More Information
If you have any media inquiries or would like to learn more about Upholdโs products and services, please contact John Ait-Bihi at [email protected].
Hot Take: Secure and Convenient Bitcoin Storage with Upholdโs Vault
Experience the ultimate security and convenience of self-custody with Vault, Upholdโs assisted self-custody wallet. With the recent addition of bitcoin support, Vault offers mainstream holders of bitcoin a secure way to store and manage their assets. Stay tuned for upcoming support for additional digital assets and L1 chains in 2024, as Uphold continues to enhance the functionality and security of its self-custody solutions.
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