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Re: gruntstyle post# 26273

Sunday, 04/11/2021 4:58:25 PM

Sunday, April 11, 2021 4:58:25 PM

Post# of 35971
While you cannot connect brokerage accounts to Uphold, you can link bank accounts, checking or savings. (Note that savings accounts have transfer-per-month limits by law, although I think I saw an offer from one bank to waive that; not sure why—or how they were doing that.)

If you transfer money from a bank account at a $500/day limit, you should probably just transfer that to USD or a supposedly stable coin. (There was no fee for UPUSD for instance. You transfer a dollar, you get a dollar of UPUSD.) Myself I never used a credit card with Uphold, but I am sure you could use one to fund a digital USD “card” (as Uphold used to call it on the original website; now they might call it an account or a wallet when you use the app). You can buy your XRP (or dozens of other cryptos, tokens, foreign currencies, etc.) from that USD account. Then if say you were watching XRP this morning when it got to $1.50 and wanted to book some gains (mind you, there will be a spread, so maybe you would have been selling at $1.47), you could have done that immediately, shifting the money back into USD to await your next brilliant move.

I suppose technically each of my “cards” with Uphold are wallets and they all have a unique wallet address, but I would just need to know the USD address, if that, to move dollars from Uphold back to my bank. (How long that would take—a week, a month—I do not know; haven’t tried it.) If I want to move XRP to ... oh, maybe Nexo (like I should have done a year ago), of course I will need to know that address, too.

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